Professional Liability Insurance in Seattle, WA
Running a business comes with inherent risks, especially when providing professional services. Professional liability insurance (PLI), or errors and omissions insurance, may provide financial security to businesses and professionals following claims of negligence, mistakes or failure to deliver services as expected. This coverage can be essential for safeguarding your reputation and finances.
Who Needs Professional Liability Insurance? 
Professionals across various industries may need PLI. If you provide services, expertise or advice, you could face claims from dissatisfied clients. Professionals such as accountants, consultants, real estate agents, lawyers and architects are particularly vulnerable. Even with the best intentions and practices, errors or misunderstandings can occur, potentially leading to costly lawsuits. PLI may help cover the legal fees and settlements, allowing your business to continue to operate smoothly.
What Is the Difference Between Professional Liability and General Liability Insurance?
While professional liability and general liability insurance may financially protect businesses, they cover different risks.
- General liability may cover bodily injury, advertising injury and property damage resulting from a business’s operations, products or incidents on their premises.
- Professional liability may cover claims related to professional mistakes, negligence or failure to meet contractual obligations.
Simply put, general liability is for physical incidents, while professional liability is for service-related issues.
How Much Does Professional Liability Insurance Cost?
The cost for professional liability coverage vary depending on factors such as the type of business, the industry, coverage limits and risk exposure. Higher-risk industries or businesses with a history of claims may pay more. It’s best to work with an experienced insurance agent to find the right coverage for your business needs.
Get Covered Today
For over 20 years, Threshold Nosh and Dwell has helped businesses navigate their insurance needs. Contact us today to learn how we can help protect your business with professional liability coverage.