Do You Need Professional Liability Insurance as an Artisan Contractor?

As an artisan of your craft, you likely take great pride in your reputation and skills. But despite your skills, even the most experienced and meticulous artisans may eventually make mistakes or be involved in accidents. As a contractor, you could face significant financial consequences in the wake of such situations, potentially jeopardizing your financial interests and credibility. You might even be at risk of insolvency. Professional liability insurance can help limit such repercussions.

What Is Professional Liability Insurance?

Also known as errors and omissions insurance, these policies are a core component of many businesses’ risk management and loss control efforts. They may be particularly valuable for those who work as contractors due to the financial protection you’ll have should a client accuse you of providing subpar services or making mistakes. In many cases, clients may require contractors to carry this type of coverage before awarding a job, meaning that being uninsured could limit your prospects.

What Can It Cover?

As its name may suggest, a professional liability insurance policy can help account for losses and expenses should a professional be allegedly responsible for another party’s losses. In the case of artisan contractors, this may mean that if a client claims to have suffered financial losses due to your shortcomings, your policy could issue financial aid for resulting losses and expenses.

Specifically, your policy may help fund your legal defense and pay for settlements and judgments in response to the following accusations:

• Professional errors

• Inaccurate advice

• Misrepresentations

• Missed deadlines

• Negligence

• Omissions

• Oversights

• Breaches of contract

How to Get Coverage Near Me

If you work as an artisan contractor in or around Dallas, GA, Volunteer Sales & Marketing DBA Hometown Insurance is standing by to help you secure ideal professional liability insurance. Contact us today to learn more or get a free and personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.