Professional Liability Insurance
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Professional liability insurance application

To apply for professional liability insurance, you’ll need to provide basic information about your business, operations, and revenue.

What information do you need to fill out the application form?

It takes just a few minutes to apply for professional liability insurance quotes with Insureon when you have the right information at hand. To speed up the application process, have the following information ready.

Financial information

  • Current fiscal-year revenue and projected revenue for next year
  • The amount of revenue generated by your largest client
  • Your total payroll
  • Executive compensation amounts

General business information

  • The business structure of your company (LLC, partnership, corporation, etc.)
  • The inception date of your business (under current ownership)
  • A brief description of your industry sector and the work your company does
  • Contact information for each of your business locations
  • Number and type of employees

Potential business entanglements

  • Any revenue generated by a client company, if you own a share of 3% or more in that company
  • Insurance policies of a subsidiary business, if you own a share of 51% or more in that business

Client contract information

  • The percentage of clients you have written contracts with
  • The purpose of these contracts
  • How often you update, modify, or amend your client contracts
  • Whether or not you require that subcontractors carry professional liability insurance

Your insurance and claims history

  • Whether or not your business has had professional liability insurance in the past
  • The limits and deductibles of any professional liability policies you’ve held in the last year
  • Any claims you made under previous or current professional liability insurance policies
  • Ongoing disputes that might lead to a future claim

How does the application process work?

The online professional liability insurance application is fairly straightforward, but there are a few things to keep in mind while you apply for coverage.

  • Shortly after you start your application, you'll receive an email with your password. If you can't finish your application in one sitting, simply sign in later, and you can pick up where you left off.
  • Avoid using your browser's back button. Opt for the "Prev." arrow on the application instead.
  • The application is adaptive, meaning certain answers will make other relevant questions appear. This allows you to skip over questions that don't apply to you.
  • Have an idea about your desired deductible and policy limits – the application asks for these at the end.
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What insurance paperwork will you receive after you apply?

After you complete your professional liability insurance application, you’ll receive the following documents:

Insurance quotes. Quotes are estimates of how much your insurance premiums will cost each year and the dollar amount of coverage the insurance company offers. A quote also summarizes the type of coverage your policy offers and its endorsements (add-on coverages that aren’t part of the standard policy form).

The insurance policy. An insurance policy is a 50- to 100-page document that defines what your insurance company will pay for. Your policy sets the coverage limits, deductible, premium, and other insurance details.

Certificate of liability insurance. An insurance certificate is your proof of insurance. It summarizes your policy’s coverage and other key details, including your insurance provider and the policy term. Clients and landlords may require this certificate before you sign a contract or lease. Sometimes they need to file a copy of your certificate with their own insurance providers.

Which insurance quote should you choose?

Insurers calculate different insurance quotes based on the information you provide in the application. Several factors impact the cost of professional liability insurance for your business. For example, businesses with complicated corporate entanglements and strict contractual obligations have more business liabilities and will likely pay higher premiums than a similar business in a less complex position.

Because professional liability policies are customized to your liabilities and vary from insurer to insurer, it's important to note the differences between your insurance quotes – beyond just the price tag.

The following features can influence the cost of your premiums and the extent of your coverage:

  • What types of liability coverage are included or excluded?
  • How does the quote define your industry or the scope of your business?
  • Does the policy give your insurer the "right and duty to defend" your claims?

What’s in your insurance policy?

A professional liability insurance policy carefully defines the legal obligations between you and your insurer. At its most basic level, the policy states that you'll pay your premiums for certain coverages. But there's so much more:

Declarations at the beginning of the policy state the essential details, such as your premium, coverage levels, policy limits, and the identifying information for you and your insurer.

The insuring agreement states in legal detail exactly what your policy covers, how costs are assessed against your policy limits, and other important details.

Conditions specify your duties to the insurer, such as when you need to communicate with the insurer if a claim is made against your business.

Endorsements can add or exclude coverage types, change clauses in your insuring agreement, or redefine key terms used throughout the policy.

What is a certificate of liability insurance?

A certificate of liability insurance is the document you receive after your policy is approved. It acts as proof of your professional liability insurance coverage.

Unlike your insurance policy itself, the certificate of liability insurance is not a legal document. But it is an important piece of paper that helps your business in a few ways.

It saves you time. You can quickly access the essential details about your insurance coverage on one page. You'll know how to contact your insurers, which insurers provide which coverage, your deductibles, and the policy limits.

It demonstrates your coverage to clients or business partners. As your business grows, you will encounter more and more potential clients that won't do business with you unless your work is insured against professional errors. A certificate of liability insurance is the standard proof of coverage.

It helps you keep clients in the loop. By listing clients or other interested parties as "certificate holders," you guarantee that they get updated information about your insured status. If something changes in your policy, your insurer informs them of the changes.

Save money by comparing quotes with Insureon

Complete Insureon's easy online application today to compare professional liability insurance quotes from top-rated U.S. companies. Once you find the right policy for your small business, you can begin coverage in less than 24 hours.

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Updated: March 18, 2024
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