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

Your profession, business location, and other factors will determine the best carrier when buying errors and omissions insurance, also called professional liability insurance or malpractice insurance. E&O insurance covers legal defense costs when your business is accused of professional negligence, even when the accusation is false.

Insureon is the #1 digital agency for small business insurance, partnering with 40+ U.S. insurance providers to find the best coverage for your needs. We've helped over 450,000 small businesses get protected with more than 1.8 million policies.

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

• Best-rated errors and omissions insurance companies, in terms of financial strength
• Best E&O providers for your industry
• Best E&O providers for your business's location

Some providers specialize in E&O insurance for certain professions, and others operate only in limited regions of the country. All of our insurance partners are rated excellent or superior by AM Best, a global credit rating agency specializing in the insurance 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, some only cover certain types of professionals.

The right carrier can help make sure you're covered for the relevant risks, whether you're a business owner with employees or an independent contractor. They can also help you comply with any requirements for E&O insurance, such as state laws that might mandate coverage for your profession.

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

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 top E&O insurance companies for Insureon's customers in our best-selling states:

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

Errors and omissions insurance covers claims related to:

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

These liability claims are a tremendous risk for businesses that provide professional services or advice, bringing financial losses that could bankrupt your business. A comprehensive risk management strategy includes both insurance to cover claims and reducing the liabilities that lead to common claims.

For more information about E&O insurance, review our frequently asked questions (FAQs) on the topic.

With Insureon, it's easy to buy E&O insurance and other types of insurance for small businesses. Instead of contacting insurance providers on your own, you can fill out our online application, which retrieves quotes for the right coverage from trusted insurance providers.

Our expert insurance agents can recommend the best, most affordable insurance solutions for your business needs. They'll help you choose appropriate coverage limits and any endorsements you might need, such as intellectual property insurance or tail coverage.

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