Business Insurance for Insurance Agents
Business insurance for insurance agents is coverage designed to protect agents and their agencies. Choosing the appropriate coverages for your needs is crucial, as business insurance can protect against a variety of hazards, from a customer injury in the office, to a claim of negligence.
Luckily, making sure your agency is protected is simple with the Progressive Advantage® Business Program. We’ll connect you with a provider to set you up with a policy to cover all your needs
E&O insurance for insurance agents
Errors and omissions (E&O) insurance, also known as professional liability insurance, protects insurance agents against claims of negligence and failure to render services. It’s a vital part of an agent’s business insurance policy as general liability does not protect against these types of claims.
For example, while setting up a new customer’s policy, an agent forgets to add collision coverage to the customer’s vehicle. After an auto accident, the customer discovers the error and sues the agent. E&O insurance could help cover the cost to defend your business.
How much does business insurance for agents cost?
The cost of business insurance is based on a variety factors, including number of employees, business location, and coverages selected. For example, an insurance agent seeking just E&O coverage will have a different cost to insure than an insurance agent that requires general liability and professional liability.
To learn more about how business insurance cost is calculated, click here.
Basic agent business insurance coverage:
- General Liability: General liability protects your insurance agency from third-party damages and injuries. For example, while visiting your office, a customer slips and falls on a loose rug and is injured. General liability could help cover their injury.
- Business Owners’ Policy (BOP): A BOP combines general liability with commercial property coverage to form one easy to manage policy. If your agency owns property, you might consider a BOP.
- Workers’ Compensation: Workers comp’ protects your employees should they become injured or ill on the job.
Get a business insurance quote today
Whether you need multiple coverages or just an E&O insurance policy quote, starting an insurance agent business insurance quote is simple. Call us for expert advice, or click to get started.