Professional Liability Insurance in Planview, NY

Professional service providers need to earn the trust of their clients. However, mistakes can happen, potentially causing significant harm. If someone claims your business is responsible for their harm, professional liability insurance can help cover the associated costs.

Understanding Professional Liability Coverage

Also known as malpractice insurance, professional liability insurance protects against claims of negligence. If a professional error causes harm, the affected party might sue or demand compensation. This coverage can help with legal defense, settlements and other related expenses, making it essential for recovering from unfortunate mistakes.

Coverage Limitations

Policies have specific limits on what they cover. It’s essential to understand the following limitations and consider additional coverage for gaps:

• Property damage and bodily injuries—If someone is injured on your premises or you damage someone’s property during a service call, commercial general liability insurance may apply. This is different from professional liability insurance but equally important.

• Employee and employment claims—Professional liability insurance does not cover internal issues. For example, workers’ compensation covers employee injuries, while employment practices liability insurance handles claims of professional misconduct towards employees or interviewees.

• Business damage or losses—Most professional liability policies do not cover business losses. Commercial property insurance can help financially protect against physical damage, and business interruption insurance can help cover losses from work interruptions due to covered events.

• Criminal acts—Professional liability policies typically exclude certain types of misconduct, such as criminal actions. If your business faces criminal charges, your policy likely won’t provide coverage.

Learn More

For professional liability insurance near you, contact Affiliated Agency.