Good topic Paul, I was thinking about asking everyone about this...

Since I just started out on my own, this was a big concern for me. Although general liability is almost required "by default" by many clients, my accountant had brought E&O (aka professional liability) insurance to my attention. After hours of searching I found that professional liability generated more hits than Errors and Omissions (yes, they are one in the same).

Anyway, I found that the rates vary a great deal for both E&O and general liability. The best rate that I was quoted was from www.techinsurance.com for $1,000/year for the following coverage:

Professional Liability/Errors & Omissions, Claims-Made Form
$1,000,000 / $1,000,000 [Each Occurrence / Annual Aggregate]**
($2,500 Deductible)

I'm not sure it's affordable for me now. But I think that I'll be getting it sometime in the future. I asked my lawyer about it, he wasn't sure that I needed it. I may have enough protection with being a corporation and coupled with properly written service agreements.


- Brian



>Here's one for the just curious category.
>
>How many people have business insurance such as Errors and Omissions?
>If you do, how is your pricing based? Anticipated revenues? Typical project size?
>
>If you don't, why not and how do you cover yourself? (Sorry, good coding is not an acceptable answer < g >)
>
>Thanks,