An Essential Guide to Errors & Omissions Insurance Quotes

Discover how to get the best errors and omissions insurance quote for your business with our comprehensive and practical guide.


When searching for an errors and omissions insurance quote, small business owners need straightforward answers on how to protect their ventures. Errors and Omissions (E&O) insurance is a crucial aspect of risk management, shielding businesses from the financial repercussions of client claims regarding negligent actions or inadequate work. Whether it’s a mishandled real estate disclosure or an overlooked client contract renewal, E&O insurance offers a safety net against potential legal and financial damages.

Understanding the essence and importance of E&O insurance can help business owners in Greenwich, Connecticut make informed decisions about their insurance needs. This type of insurance is not just a regulatory requirement for many professions; it’s a proactive step towards safeguarding your business’s future and maintaining your professional reputation.

Errors and omissions insurance can vary significantly in cost and coverage based on the specific risks associated with your business activities. Thus, obtaining a tailored quote that matches your business’s exposure to risk is imperative. Below, an infographic provides a quick overview of what E&O insurance generally covers, helping you understand at a glance why this insurance could be essential for your business.

Infographic detailing typical coverage items under Errors and Omissions insurance, including defense costs, settlements, judgments, and fines, alongside examples of common claims like negligence, misrepresentation, and violation of good faith - errors and omissions insurance quote infographic pillar-3-steps

Understanding Errors & Omissions Insurance


Errors & Omissions (E&O) Insurance, also known as Professional Liability Insurance, is a type of coverage that protects businesses and professionals against claims of inadequate work or negligent actions. This insurance is crucial for anyone who provides a service or advice, as it covers legal costs and damages that may arise from such claims.


E&O Insurance typically covers:
Negligence: Failures in performing professional duties.
Errors: Mistakes in the service provided.
Omissions: Important details or steps that were overlooked.
Misrepresentation: Incorrect or misleading information given to clients.
Violation of good faith: Not acting with honest intent.
Inaccurate advice: Providing advice that leads to a client’s financial loss.

This insurance helps with legal defense costs, settlements, judgments, and even administrative expenses during a lawsuit.

Professional Liability Insurance

This broader term encompasses E&O insurance and is essential for professionals who operate in fields where the stakes of advice or service failure are high. It’s particularly important in legal, medical, and consulting fields. Professional Liability Insurance ensures that a mistake doesn’t result in devastating financial consequences.

E&O vs. PII

While E&O is widely used in the United States, Professional Indemnity Insurance (PII) is a common term in other parts of the world like the UK and Australia. Both terms describe essentially the same type of insurance, focusing on protecting professionals from the financial risks associated with claims of negligence or inadequate performance in their professional services.

By understanding these key aspects of Errors & Omissions Insurance, businesses and professionals can better appreciate the importance of this coverage in safeguarding their operations and financial stability. This knowledge is crucial when considering the specific needs and risks associated with your professional activities, ensuring that you seek the right coverage to protect against potential claims.

Cost of Errors & Omissions Insurance

When it comes to protecting your business with errors and omissions insurance, understanding the cost is crucial. Here’s a simple breakdown of what you can expect in terms of pricing, and the factors that influence these costs.

Average Cost

The average monthly premium for errors and omissions insurance varies significantly based on several factors, but businesses can typically expect rates to start from as low as $19 per month. However, note that this is a starting point, and premiums can increase based on your specific business needs and risk factors.

Factors Affecting Cost

Several key elements determine the cost of your errors and omissions insurance quote:

  • Your exposure to risk: Businesses in industries where errors are likely to have significant financial repercussions generally face higher premiums. For example, a minor mistake in a marketing campaign might not have as severe financial implications as an architectural error in a large construction project.

  • Claims and insurance history: If your business has a history of claims, this might indicate a higher risk to insurers, which could increase your premiums.

  • Coverage limits and insurance package: Higher coverage limits translate to higher premiums, but they also offer better protection. It’s about finding the right balance for your business needs.

Monthly Premiums

Monthly premiums are influenced by the factors above but are also impacted by the location of your business, the number of employees, and the specific services you offer. Each of these elements can either increase or decrease the amount you’ll pay each month.

Technology Companies

Technology companies often face unique risks due to the rapid pace of technological change and the critical nature of their services. On average, tech companies might pay a minimum of $86 a month for errors and omissions insurance. This rate reflects the potential high costs of errors in this industry, where software bugs or data breaches can have serious financial implications.

Risk Class

The risk class of your business plays a pivotal role in determining your insurance costs. High-risk industries, like construction and medical services, often face higher premiums due to the potential severity of claims. Conversely, lower-risk industries, such as consulting or non-technical project management, may enjoy lower rates.

By understanding these factors, you can better anticipate the costs associated with errors and omissions insurance and make informed decisions about the coverage levels appropriate for your business. While the cost of insurance is an important consideration, the right coverage can save you from significant financial and reputational damage in the long run.

Why You Need E&O Insurance

Lawsuit Protection

One of the primary reasons to have errors and omissions insurance is to protect your business from lawsuits. In today’s litigious society, even a small mistake or misunderstanding can lead to a legal claim against your company. E&O insurance acts as a safety net, ensuring that such claims don’t disrupt your business operations or drain your financial resources.

Legal Fees

Legal defense can be incredibly costly. Attorney fees alone can range from $3,000 to $150,000 on average, depending on the complexity of the case. E&O insurance helps cover these costs, so you don’t have to pay out of pocket. This can be a lifesaver for small businesses that might not have the resources to handle such large expenses on their own.


Beyond legal fees, if a lawsuit results in a settlement or judgment against your business, the costs can escalate quickly, potentially reaching millions of dollars. E&O insurance helps cover settlements and judgments, protecting your business’s financial stability. For example, a real estate agent who faces a lawsuit for mismanagement could have their settlement costs covered by their E&O policy, mitigating the financial impact on their business.

Business Risk

Every business faces inherent risks. For professionals providing services or advice, such as consultants, engineers, or marketers, the risk of being accused of negligence or making an error is a significant concern. E&O insurance provides a critical layer of protection against claims that could otherwise lead to serious financial hardships or even the closure of the business.

E&O insurance is not just about covering costs; it’s about ensuring the longevity and stability of your business. It allows you to handle unexpected challenges with confidence and maintain your business’s reputation in the face of potential claims. It’s not just about whether you made a mistake, but also about defending yourself against claims that you did.

By investing in an errors and omissions insurance quote, you’re not just buying insurance; you’re securing peace of mind and safeguarding the future of your business.

What Does E&O Insurance Cover?

Errors and omissions insurance, commonly known as E&O, provides a safety net for businesses against a variety of claims that could arise from their professional services. Here’s a breakdown of what this insurance typically covers:


If your business is accused of failing to perform its professional duties to an industry standard, E&O insurance can cover the damages and legal costs. This could involve a scenario where a mistake or oversight leads to client loss or harm.


Mistakes happen, even to the best of us. E&O insurance helps protect your business if an error in your work negatively impacts a client. This could be as simple as data entry errors or calculation mistakes that lead to significant client issues.


Sometimes, it’s not what you do but what you didn’t do that matters. If your business fails to include vital information or a critical service component, and this omission causes harm to a client, E&O insurance can cover the fallout.


If your client claims that your business misrepresented services or benefits and this led to financial loss, E&O insurance can help cover the defense costs and any resulting settlements.

Violation of Good Faith

This covers instances where a client believes you did not act with honest intent. For example, if a client feels misled by your advice or services, E&O insurance can protect you from the legal repercussions.

Inaccurate Advice

Providing clients with advice is a standard part of many professional services. If this advice turns out to be flawed or incorrect, and it causes financial damage to the client, E&O insurance can help manage the costs associated with these claims.

Attorney Fees, Court Costs, Administrative Costs

Legal battles can be expensive. E&O insurance helps cover the costs associated with defending your business in court, including attorney fees, court costs, and other related administrative expenses.

Errors and omissions insurance is not just about covering costs; it’s about ensuring the longevity and stability of your business. It allows you to handle unexpected challenges with confidence and maintain your business’s reputation in the face of potential claims. It’s not just about whether you made a mistake, but also about defending yourself against claims that you did.

By investing in an errors and omissions insurance quote, you’re not just buying insurance; you’re securing peace of mind and safeguarding the future of your business.

Common E&O Claims and How to Avoid Them

Errors and Omissions (E&O) insurance is crucial for handling claims that arise from the services you provide. Understanding common claims and how to prevent them can save your business from costly legal battles. Here’s a breakdown of frequent E&O claims and strategies to avoid them:

Failure to Advise

Scenario: A financial advisor fails to inform a client about a significant investment risk.
Prevention: Always provide comprehensive and timely advice to clients. Document all communications and recommendations.

Incorrect Explanation

Scenario: An insurance agent incorrectly explains policy coverage, leading to inadequate client protection.
Prevention: Ensure clarity in all client communications. Regularly train staff on product knowledge and communication skills.

Administrative Errors

Scenario: A real estate agency misplaces important documents, delaying a property sale.
Prevention: Implement strict administrative procedures and double-check work. Use digital tools to track and manage documents efficiently.

Policy Changes

Scenario: A client is not informed about changes in their insurance policy, resulting in coverage gaps.
Prevention: Notify clients immediately about any policy changes. Maintain a robust system for tracking and confirming client communications.

Handling Client Information

Scenario: A consultant uses outdated client information, leading to flawed business advice.
Prevention: Regularly update and verify client data. Encourage clients to confirm the accuracy of their information.

Training Employees

Scenario: An employee’s lack of understanding leads to a client receiving incorrect advice.
Prevention: Invest in continuous training and professional development for all employees. Monitor performance and provide feedback.

Quality Control

Scenario: A software development company releases a bug-ridden product to the market.
Prevention: Establish rigorous quality control processes. Conduct thorough testing and encourage a culture of attention to detail.

Customer Communication

Scenario: A client claims they were misinformed about the terms of service.
Prevention: Foster clear, open, and documented communications with clients. Always confirm that the client understands the information provided.

Adopting these preventative measures can significantly reduce the likelihood of facing an E&O claim. However, no system is foolproof, which is why having E&O insurance is essential. It not only protects your business financially but also supports handling claims professionally, preserving your reputation.

Next, we will explore the specific exclusions in E&O insurance coverage to ensure you fully understand the limitations of your policy.

Exclusions in E&O Insurance Coverage

Understanding what is not covered by your errors and omissions insurance is as crucial as knowing what is covered. Let’s dive into the key exclusions to help you better navigate the limitations of your policy.

Retroactive Date

  • What it is: This is the date from which your coverage starts. Any incidents that occur before this date are not covered.
  • Why it matters: If you switch providers or start a new policy, make sure the retroactive date covers your past work to avoid gaps in your coverage.

Extended Reporting Period

  • What it is: This allows you to file a claim after your policy has ended, usually within a set time frame.
  • Why it matters: It’s vital if you cease operations or change insurers but still want protection against late-appearing claims from past services.

Illegal Acts

  • What it is: Any intentional illegal activities or fraud.
  • Why it matters: Insurance is designed to protect against mistakes, not deliberate wrongdoing.

Bodily Injury and Property Damage

  • What it is: Claims involving physical injuries or damage to property.
  • Why it matters: These are typically covered under general liability insurance, not E&O policies.

Employee Injuries

  • What it is: Injuries or illnesses that occur to employees while on the job.
  • Why it matters: This is the realm of workers’ compensation insurance.

Discrimination and Harassment

  • What it is: Claims related to workplace discrimination or harassment.
  • Why it matters: Such claims are generally covered by employment practices liability insurance (EPLI).

Each of these exclusions highlights the importance of having a well-rounded insurance portfolio to fully protect your business. While errors and omissions insurance is key for covering claims related to your professional services, other types of insurance are necessary to address the areas E&O does not cover.

Next, we’ll look into who exactly needs errors and omissions insurance and why it might be crucial for your business.

Who Needs Errors & Omissions Insurance?

Errors and omissions insurance is essential for a wide range of professionals and businesses. Here’s a closer look at who needs this coverage and why.


Accountants handle sensitive financial data and provide advice that businesses and individuals rely upon. A minor miscalculation or oversight can lead to significant financial losses for clients, making errors and omissions insurance a must-have to cover any legal actions that might arise from such mistakes.


Engineers are involved in designing and supervising projects that can have major safety implications. Whether it’s a structural flaw or a missed specification, the repercussions can be enormous. E&O insurance helps protect engineers from claims of negligence or failure to perform their professional duties.

Advertising Firms

Advertising firms create content that can sometimes lead to misinterpretation or misrepresentation. Errors and omissions insurance protects these firms from lawsuits claiming that their work caused a client financial loss due to misleading advertising or public relations mishaps.


Educators might not seem like typical candidates for E&O insurance, but those who offer consulting or private tutoring services can face claims for alleged educational malpractice or inaccuracies that lead to a student’s academic failure.

Marketing Firms

Similar to advertising firms, marketing firms provide strategies that can make or break a client’s revenue stream. Incorrect market analysis or campaign management could lead to significant losses, claims for which would be covered under E&O insurance.

Website Developers

A technical fault or oversight in website or app development can cause substantial operational disruptions or data breaches. E&O insurance helps cover claims of negligence or failure to deliver agreed-upon digital products.

Consulting Companies

Consultants provide expert advice that companies rely on to make strategic decisions. Errors or omissions in this advice can lead to substantial financial losses, making E&O insurance critical for protecting against legal claims.


Mistakes in professional services like hair treatment can lead to dissatisfaction or even injury. E&O insurance can cover claims against the service provided, ensuring the business can continue without crippling legal fees.

Real Estate Agents

Real estate agents deal with transactions where errors can mean significant monetary losses. From failure to disclose property flaws to contractual mistakes, E&O insurance is vital for protecting agents from potential lawsuits.

Pet Services

Businesses that provide pet grooming, training, or boarding services can also benefit from E&O insurance. Mismanagement or negligence claims can arise if a pet is injured or lost, potentially leading to expensive lawsuits.

Understanding the diverse range of professionals and businesses that require errors and omissions insurance underscores its importance. Whether you’re handling finances, constructing buildings, or even grooming pets, E&O insurance provides a safety net that helps ensure your business can withstand claims of errors or negligence. Now, let’s explore how you can get an errors and omissions insurance quote to protect your business with Griffith E. Harris Insurance Services.

How to Get an Errors & Omissions Insurance Quote

Getting an errors and omissions insurance quote is a crucial step to safeguard your business from potential financial risks associated with claims of negligence or inadequate work. Here’s how you can easily obtain a quote, specifically through Griffith E. Harris Insurance Services.

Online Quote

Starting with an online quote is the fastest and most convenient way to begin. Griffith E. Harris Insurance Services offers an easy-to-navigate online platform where you can input basic information about your business. This includes your industry type, business size, and the specific risks you face. The process is straightforward:

  1. Visit the Griffith E. Harris Insurance Services website.
  2. Navigate to the ‘Insurance Products’ section and select Errors & Omissions Insurance.
  3. Fill out the required fields with accurate information about your business.
  4. Submit the form to receive an initial estimate quickly.

This online tool is designed to give you a preliminary quote, which can be refined further with the help of a licensed agent.

Licensed Agent

For those who prefer a more personalized approach, or have specific questions about their coverage needs, speaking with a licensed insurance agent is invaluable. Griffith E. Harris Insurance Services provides access to experienced agents who specialize in E&O insurance. You can reach an agent by:

  • Calling the customer service number provided on their website.
  • Scheduling an appointment for a one-on-one consultation either virtually or in person.

These agents can help clarify any complexities in your insurance needs and ensure that your policy covers all aspects of your business’s risk profile.

Customizing Your Policy

Every business is unique, and so are the risks it faces. Customizing your E&O policy is crucial to ensure that it aligns perfectly with your business needs. At Griffith E. Harris Insurance Services, customization involves several steps:

  • Assessment of Risk: The agent will help assess the specific risks associated with your business activities.
  • Selection of Coverage Limits: Depending on your business size and the potential financial risks, you can choose the coverage limits that best suit your needs.
  • Add-ons and Exclusions: Based on your business operations, you may need additional coverage options or decide to exclude certain elements that do not apply to your business scenario.

Griffith E. Harris Insurance Services

Choosing Griffith E. Harris for your E&O insurance means you’re partnering with a firm that has over 75 years of experience in providing tailored insurance solutions. They understand that insurance is not just a transaction but a crucial part of your business’s sustainability and growth. Their commitment to personal service with integrity ensures that you receive not only comprehensive coverage but also ongoing support to adapt your policy as your business evolves.

By following these steps, you can obtain an errors and omissions insurance quote that not only meets your current needs but also adjusts to your future business growth. With Griffith E. Harris Insurance Services, you get a partner who stands by your side, ready to protect your business through thick and thin.


At Griffith E. Harris Insurance Services, we understand that navigating the complexities of errors and omissions insurance can be daunting. That’s why we are committed to providing you with personalized guidance and expert insights to ensure that your business is protected with the right coverage.

Personal Service with Integrity has been our guiding principle since our founding in 1946. We believe in building lasting relationships with our clients by offering tailored insurance solutions that cater to the unique risks your business faces. Our team of seasoned professionals, each with over a decade of experience in the industry, is dedicated to helping you understand your insurance options and making informed decisions.

We offer a comprehensive suite of services, from risk assessment to policy customization, ensuring that every aspect of your coverage meets your specific needs. Whether you’re a consultant, real estate agent, or run a technology firm, our errors and omissions insurance policies are designed to provide robust protection against claims of negligence or inadequate services.

Our commitment goes beyond just selling a policy. We strive to be your trusted advisor, helping you navigate through claims and adjust your coverage as your business grows and evolves. Our approach is proactive—identifying potential risks and addressing them before they become problems.

Choosing Griffith E. Harris Insurance Services means partnering with a firm that values transparency, responsiveness, and above all, the well-being of your business. We invite you to experience the peace of mind that comes from knowing you are protected by a team that cares about your success.

For more details on how we can help protect your business with errors and omissions insurance, visit our service page. Let us help you secure a policy that fits your business perfectly, so you can focus on what you do best—running your business.

Griffith E. Harris Insurance Services—Your partner in protection, your advocate in times of need.

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