Professional Liability Insurance

Liability protection for advice and services

Protect yourself from costly mistakes

Also known as Errors and Omissions (E&O Insurance), professional liability insurance is protection for your business from claims of negligence related to a professional service.

Who needs professional liability insurance?

Small businesses that provide professional services or give advice to clients should consider purchasing professional liability insurance. It provides protection when a business owner is sued for negligence because their work doesn't meet a client's expectations.

Professional liability insurance can also be required by a small business' clients when entering into a contract.

Businesses that often choose professional liability insurance include:

  • Consultants
  • Attorneys
  • Engineers
  • Architects
  • Counselors
  • Accountants
  • Real estate agents
  • And more

Types of coverage

Professional liability insurance offers a variety of coverage for small businesses including:

  • Alleged or actual negligence - Protects a business against actual or alleged errors and omissions when providing professional services, such as giving incorrect advice, an omission, or failing to deliver a service.
  • Defense costs - Provides legal defense when a covered claim is reported.

Professional liability insurance can also offer coverage for claims arising from services provided in the past and work performed anywhere in the world.

It's important to understand that a general liability policy won’t protect against these risks. Get more information on how professional differs from general liability.

Professional liability insurance cost

In 2020, the national average cost for professional liability insurance through the Progressive Advantage® Business Program was $46 per month. While this information is helpful, it’s not customized to your unique situation.

Learn which attributes of your business impact the cost of professional liability insurance, and discover ways to reduce your premium.

We’ll even help you get started. Call us today to speak with a licensed commercial agent, or start a quote online.

Common questions

Yes, there’s no difference between errors and omissions insurance (E&O insurance) and professional liability insurance; the two terms are often used interchangeably.

Yes. Regardless of whether a claim against you is determined to be frivolous or not, your professional liability coverage would defend against a lawsuit claiming your professional neglect.

General liability coverage only protects against “third-party” damages for which you’re responsible (i.e. bodily injury to others or damage to their property ). Professional liability protects you from claims of neglect or professional errors.

Yes. Progressive can help you get business insurance, including professional liability, in any state. Browse by state.

More information