Professional Liability Insurance
Professional Liability Insurance
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Access your policyWhat is professional liability insurance?
Professional liability insurance (PLI) is a type of business insurance that provides coverage for professionals and businesses to protect against claims of negligence from clients or customers. Professional liability insurance (PLI) typically covers negligence, copyright infringement, personal injury, and more. Claims covered by a professional liability policy can include damages caused by things you did and/or things that you should have done. Professional liability is also sometimes called professional indemnity insurance or errors & omissions coverage.
How does professional liability insurance work?
Many types of businesses can benefit from professional liability insurance. Here are some real-life examples. Let's say you're a project manager, and you accidentally forget to get to tell your client about needed sign-offs causing project delays that increase the cost. Or maybe you're a massage therapist and your client sues you, claiming you caused tissue damage. These are just a few of the cases that professional liability insurance could help you with. Many people often pair professional liability insurance with general liability insurance for more complete coverage.
Who needs professional liability insurance?
- A professional service
- Regular professional advice to clients
- Contractual service to your clients
How much does professional liability insurance cost?
Every business' needs are different. Many things impact how much your professional liability premium will be. We're ready to work with you to get the coverage you need at a great price. See how much you could save on professional liability insurance through GEICO today.
Why do I need professional liability insurance (PLI)?
Some jobs and contracts require PLI. Beyond that, mistakes happen. Make sure that you and your business are protected with the right professional liability coverage.
What type of business can be covered by professional liability (or E&O) insurance?
Whether you own a small business, a growing one, a large company, or you're starting a new business; we can help you save on your professional liability insurance. Business examples include:
- Beauticians/Salon Services
- Career/Business Trainers & Coaches
- Family/Mental Health Counselors
- Management/Business Consultants
- Occupational Therapists
- Personal Trainers
- Photographers
- Real Estate/Property Managers
- IT Consultants
- And more...
What does a professional liability insurance policy cover?
Common items covered by professional liability insurance are:
Mistakes Or Negligence
Services provided (or not provided) by your company that result in client damages.
Copyright Infringement
Copyright law issues, mistakes, oversights, and misunderstandings.
Personal Injury
Claims for libel or slander, whether they're true or not.
What else is covered under professional liability insurance?
Previously Performed Professional Services
This protects current and previous work (for an agreed length of time).
Considering this timeframe is critical, as anything outside it is not covered.
Defense Costs
Legal defense costs associated with lawsuits against your company (regardless of fault).
Temporary Staff and Independent Contractors
Work performed by your employees, including temporary staff and independent contractors.
What's the difference between general liability and professional liability?
General liability insurance covers physical risks, including property damage or bodily injuries. In contrast, PLI covers errors and omissions, which are more abstract. Professional liability insurance may cover issues like failure to deliver, professional misconduct, breach of contract and more.
Explore additional coverage options for your BOP Insurance
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This 2-in-1 policy includes general liability plus protection for your property.
Example: A fire damages your office. A BOP could cover repairs to your office and help pay your employees' wages while business is interrupted.
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We often recommend general liability insurance to go with professional liability.
Example: A client slips, falls, and injures their back at your place of business. General liability could cover their medical bills.
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A personal auto policy is not enough to cover vehicles used for business. Commercial auto insurance can:
- Cover business uses that personal auto policies don't include
- Offer more liability coverage to protect you
- Includes cars, pickup trucks, box trucks, and more
Example: On a job site, a carpenter accidentally backs into the homeowner's car. Commercial auto insurance could cover the damage.
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Protects businesses from losses from computer-related attacks, such as malware, phishing, ransomware, or stolen personal data.
Need to speak with us about professional liability insurance?
You can reach us at (800) 841-1621
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Professional liability insurance: Get the answers you're looking for.
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How can I manage my professional liability insurance policy?Geico Insurance Agency has made it easy for you to speak directly with an insurance professional who can help you.
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Do I need professional liability insurance?You may need professional liability insurance since professional services aren't usually covered by general liability insurance.
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Is errors and omissions (E&O) insurance the same as professional liability?Errors and omissions insurance is another name for professional liability insurance. It can help protect business professionals from claims of mistakes in providing their professional services.
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What type of business insurance do I need?Whether you're a small business just getting started or a larger, more estabilished business looking for better insurance rates, GEICO can help. Answer a few short questions about your business so we can help narrow down the search for what type of professional liability coverage would be best for your business.
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Will professional liability cover me even if the lawsuit is baseless?Yes, professional liability insurance will cover you even if the lawsuit is baseless. This type of insurance is designed to protect you from financial loss related to your business, regardless of the lawsuit's merit.
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Will professional liability (errors and omissions) cover me if I'm at fault?Yes, PLI provides coverage for legal defense costs and any settlements or judgments up to the policy limits even if you're at fault.
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Is professional liability insurance legally required?Professional liability insurance is not legally required in all industries or regions, but it is highly recommended for professionals who provide services or advice. Some industries, such as healthcare or legal services, may have specific regulatory requirements mandating this coverage.
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Can I get prior acts PLI coverage through GEICO?Yes, GEICO Insurance Agency offers prior acts professional liability coverage. It can protect you from claims arising from services performed before the policy's start date as long as you have continuous coverage without gaps.
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What does professional liability insurance not cover?While coverage varies by policy and provider, professional liability insurance typically doesn't cover intentional acts, general liability, employment practices, or false advertising.
Please note:
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
For online quotes:
When you click on "START QUOTE" and "Start your quote now", we gather some pieces of information and you may be taken to the website of one of the insurance companies with which GEICO Insurance Agency, LLC works, which website is not owned or controlled by GEICO. Each insurer has sole financial responsibility for its own products. GEICO has no control over the privacy practices of these insurance companies and assumes no responsibility in connection with your use of their websites. Any information that you directly provide to one of these insurance companies is subject to the privacy policy posted on that insurer's website. All business products offered are written on an admitted basis. General Liability coverages are written through non-GEICO insurance companies and are secured through the GEICO Insurance Agency, LLC. The information you provide will be shared with our business partners so that they can return a quote. We can help you secure business insurance in all states except Hawaii.
Professional Liability Insurance coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC. We can help you secure business insurance in all states except Hawaii.
The information you provide will be shared with our business partners so that they can return a quote.