Best Errors and Omissions Insurance
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Best errors and omissions insurance (E&O) for small businesses

When shopping for E&O insurance, you'll want a provider that specializes in your profession. The right carrier will understand your risks, have an established record of reliability, and sell policies that match your geographical area and your budget.

What are some of the best companies selling E&O insurance in 2024?

Your profession, business location, and other factors will determine the best carrier when buying errors and omissions insurance, also called professional liability insurance. This policy helps cover legal defense costs when your business is accused of professional negligence, even when the accusation is false.

Insureon works with 40+ carriers to find the best insurance coverage for your needs. We've helped over 400,000 small businesses get protected with more than 1.5 million policies.

When you compare quotes with our application, we do the work for you by retrieving quotes from the insurers that best match your business needs. The most important factors are:

Some providers specialize in E&O insurance for certain professions, and others operate only in limited areas. All of our insurance partners are rated excellent or superior by AM Best [PDF].

Best-rated E&O insurance companies

When buying errors and omissions insurance with Insureon, you'll get quotes from trusted providers that specialize in this policy.

Based on financial strength and overall rating, our top carriers for E&O insurance include:

The Hartford: Rated A+ by AM Best. Located in Hartford, CT. Specializes in property and casualty insurance (including general liability, E&O insurance, and workers' compensation), group benefits, and mutual funds.

Philadelphia Insurance Companies (PHLY): Rated A++ by AM Best. Located in Bala Cynwyd, PA. Specializes in property and casualty insurance (including general liability and E&O insurance) and management insurance.

Hiscox: Rated A. Located in Chicago, IL. Specializes in general liability, E&O insurance, business owner’s policy (BOP), and cyber insurance.

Travelers: Rated A++. Located in Hartford, CT. Specializes in commercial property and casualty insurance (including general liability and E&O insurance) and personal insurance.

CM&F Group: Rated A++. Located in New York, NY. Specializes in medical malpractice insurance for healthcare professionals.

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Best errors and omissions insurance carriers by industry

Because errors and omissions insurance covers the specific risks of your professional work, your industry is a key factor. You'll need a provider that can make sure you're covered for the right exposures. In fact, not all carriers may insure your profession.

Here are the recommended providers of E&O insurance for our top industries.

Insurance agents

Insurance agents often depend on Hiscox for errors and omissions insurance.

Some states require agents and other insurance professionals to carry E&O insurance, which is why it's important to work with a carrier that knows your line of work. They can make sure your policy matches the laws in your state, as well as the unique risks of your profession.

If an error results in a gap in your client's coverage, you could face a lawsuit. An E&O policy would cover your legal defense costs, such as court costs and witness fees.

IT and technology professionals

Tech companies and contractors typically need more than a standard E&O insurance policy. Instead, they often buy technology errors and omissions insurance, or tech E&O, which bundles E&O insurance with cyber insurance.

This bundle extends the protection offered by E&O to include errors and oversights that lead to a data breach or a cyberattack at a client's business.

Fortunately, several carriers specialize in tech E&O for small businesses. They include the Hanover, PHLY, Hiscox, Chubb, Travelers, and the Hartford.

Real estate professionals

Hiscox and Travelers can help you find the right E&O policy for your real estate business.

State laws often require real estate agents and brokers to carry E&O insurance. Even when it's not required by law, Realtors may need this coverage to work with a particular agency.

A carrier that specializes in real estate insurance can help you find a policy that matches your requirements and the specific risks you face. For example, you'll want coverage for discrepancies in MLS listings, failure to disclose mold, documentation errors, and similar types of claims.


Consultants have a wide range of choices when it comes to small business insurance carriers, including Hiscox, PHLY, Chubb, the Hartford, and Liberty Mutual.

These companies can help you find coverage that matches the unique risks of your consulting firm, such as a breach of contract or poor advice that causes a client to lose money.

Many companies require consultants to carry E&O insurance, more commonly called professional liability coverage in this industry. Your carrier will help make sure your policy fulfills these requirements, so you can sign contracts and gain the protection you need to work with larger clients.

Finance professionals

Financial services businesses often depend on Hiscox and Travelers for their E&O coverage, which protects against accounting errors or poor advice that causes a client to lose money.

If a tax preparer misses a filing deadline or makes an error on a tax form, this policy can help pay for their legal expenses or settlement. It also protects bookkeepers against costs related to data entry errors and lost financial records.

Professional associations and state laws often require E&O insurance for accountants. For example, public accounting firms in Ohio must carry a certain amount of E&O coverage, with the amount dependent on the size of the firm.

Best errors and omissions insurance carriers by state

Your state is another important factor when choosing an E&O carrier. While many insurance companies provide national coverage, others cover only a specific territory that could exclude your business's location.

Here's a list of the best carriers for E&O insurance in our top five states:

The Hartford

The Hartford



The Hartford
The Hartford
The Hartford

How much does errors and omissions insurance cost?

A small business owner calculating their errors and omissions costs

The average E&O insurance cost for small businesses is $61 per month.

Insurers look at several factors when determining your E&O premium, including:

  • Type of business
  • Business location
  • Size of your business
  • Policy limits and deductible
  • E&O claims history

What are the risks of not having E&O coverage?

If you work in a field where an errors and omissions insurance policy is required by law, going without coverage could result in hefty fines and penalties. In certain professions, you might even lose your license.

Additionally, you might lose out on clients who want you to carry this coverage. They might choose to work with a competitor who is insured rather than risk having to face expensive legal fees.

Beyond all of this, perhaps the biggest risk is to your own business. Without E&O insurance, a simple mistake could lead to costly legal expenses that could force your business to close.

Errors and omissions insurance covers claims related to:

  • Breach of contract
  • Missed deadlines
  • Mistakes and oversights
  • Misrepresentation

These liability claims are a tremendous risk at businesses that provide professional services or advice, bringing financial losses that could bankrupt your business.

Other important policies for small businesses that purchase E&O insurance

E&O insurance covers lawsuits related to professional negligence, but it's not the only type of insurance you need. As part of their risk management plan, small businesses often buy the following insurance products:

General liability insurance: This policy helps pay for accidents that damage a customer's property or cause a bodily injury. It also covers defamation and copyright lawsuits.

Business owner's policy: A business owner's policy combines general liability insurance with commercial property insurance in a cost-saving package. It provides coverage in the event of a customer accident or business property damage.

Workers’ compensation insurance: Workers' comp covers medical expenses when an employee is injured on the job. Most states require this coverage for businesses that have employees.

Commercial auto insurance: Businesses that own a vehicle are typically required to carry this coverage. It helps pay for legal costs and medical bills if your business vehicle is involved in an accident.

Cyber insurance: This policy covers expenses related to data breaches and cyberattacks, such as the cost of notifying affected customers. It's also called data breach insurance.

Commercial umbrella insurance: When your underlying general liability, commercial auto, or employer's liability insurance policy reaches its limit, umbrella insurance kicks in to provide additional coverage.

How do I find the right errors and omissions coverage?

It's easy to get E&O insurance with Insureon. Fill out our online application to receive quotes from trusted providers. Our expert insurance agents can help you choose appropriate coverage limits, add endorsements, and make sure your policy matches your business needs.

Most small business owners can get same-day coverage and easily download a certificate of insurance as soon as they purchase their policy.

Updated: March 26, 2024
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