Errors and Omissions Insurance San Diego Agencies Need
Even when your business is diligent about providing the highest quality products or services to your clients, there is always a chance mistakes can be made, making your agency liable for resulting damages. A general liability policy is vital to have for many reasons, but it won’t keep your agency protected from losses due to negligence. American Tri-Star of San Diego, CA, offers additional coverage for businesses that want to avoid serious financial risk. Also known as professional liability, errors and omissions insurance can keep you covered if a client holds your business responsible for a service that did not have the expected or promised results, whether the wrongdoing was real or perceived.
Errors and Omissions Insurance Covers the Costs of a Lawsuit
At Tri-Star Insurance in San Diego, we understand allegations clients make toward your agency might sometimes be groundless. Regardless of the validity of these claims, you’ll need a considerable amount of money to cover a wide variety of unforeseen costs, which can lead to a lasting effect on your agency’s finances or even bankruptcy. Should your business face a lawsuit, errors and omissions insurance can cover:
- Lawyer’s fees
- Court and administrative costs
Learn How to Prevent Costly Errors and Omissions Claims
The knowledgeable agents at American Tri-Star San Diego are here to help your business prevent errors and omissions lawsuits. We examine the measures your agency takes to prevent both potential and repeat claims and offer advice on changes can make to your procedures. There are a few easy steps your business can take to minimize these risks:
- Make sure you have a contract detailing what will and will not be done for a client
- Clarify all fees the client will pay
- Keep communication open and expectations realistic
- Create quality control procedures and check them regularly for effectiveness
As with all other types of insurance, the best time to purchase errors and omissions coverage is before you think you might be at risk. Don’t let your business become vulnerable to expensive lawsuits. Contact Tri-Star Insurance today at 619-272-2100 and one of our friendly representatives can tailor an errors and omissions plan to best suit your agency’s needs.