Professional & General Liability Insurance

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What is Professional & General Liability Insurance?

General Liability & Professional Liability insurance policies are closely linked because when used in conjunction, they protect against a majority of the claims that could be made against your business as a result of your daily operations. Specifically, General Liability can help cover medical expenses, attorney fees, and other costs that result from bodily injuries and property damage for which your company could be held legally responsible. Similarly, Professional Liability policies are designed to guard against claims that the services provided by your company caused your client financial hardship, usually as a direct result of a mistake made on your part or your failure to perform a certain service. This is sometimes called Errors & Omissions insurance coverage as well. Though it is common to see these two policies held in conjunction, it is not required. In certain scenarios, it might make sense to have one type of insurance coverage and not the other depending on the industry you work in.

The Difference

While the two types of insurance coverage are similar, they are distinct in what they each cover. Put simply, General Liability covers the costs associated with third-party injury or damages while Professional Liability covers any financial matters that result as a mistake you made while you performed the work of your profession.

Why Do You Need Professional & General Liability Insurance?

Protection Against Losses
A General Liability insurance policy will help protect you and your business from a variety of losses and costs associated with claims made against your business for third party personal injury, third party property damage and advertising injury. For example, if a patron slips and injures themselves at your place of business or you damage the flooring of a client’s office while you are on-site, they could make a claim against your company. If you or your business are deemed legally responsible for the damages, you will likely have to pay a fee to the suffering party. A General Liability insurance policy will cover those costs and legal fees for you.

Legal Requirements
In some cases, Professional Liability insurance is required by state law or employer mandate. This is most often seen in specific industries such as healthcare or law where it is more commonly referred to as malpractice insurance. Whether required by law or your employer, Professional Liability helps to protect you from claims made against the work you have specifically performed for a client. Even if it is not required for professionals in your industry specifically, it is best practice to carry Professional Liability insurance if you perform any sort of work for clients.

Defense Coverage
Should a claim be taken to court, both General and Professional Liability policies will usually help to cover the costs associated with mounting a defense. However, the level of coverage your policy provides will vary so it is important to consider how much assistance you would need should a case be filed against you. Developing a deep understanding of the financial costs you will have to suffer will help ensure that you purchase the appropriate amount of coverage when taking our a policy.

What Does it Cover?

Combining both Professional and General Liability insurance policies will cover a wide variety of claims that could be made against you and your business. Together, these policies will cover claims of negligence, misrepresentation, inaccurate advice, bodily injury, property damage, and more. Here are some of the costs most often covered:

Attorney Fees

Coverage for those related to settling covered claims.

Court Costs

Such as administrative legal fees associated with covered claims.

Property Damage

The costs associated with damaging another’s property.

Medical Expenses

For those injuries for which you are held legally responsible.

What it Doesn't Cover

Despite all of the expenses these two policies both protect against, there are a number of scenarios that would not be considered covered by either a General Liability or Professional Liability policy. Here are some of the costs these policies would not cover:

Damage to Your Property

Whether or not as a result of your work.

Employee Injury

Those medical expenses due to work-related incidents.

Auto Accidents

Caused by you or your employees while driving for work purposes.

Illegal Activity

Defense costs associated with unlawful acts.

Average Cost for Professional & General Liability Insurance

No two businesses are the same and the cost of your insurance policies will be determined based on a number of factors to provide a premium that is unique to you and your company. Some of the common factors that can influence the cost of your insurance policy include your exposure to risk, business location, years in business, the type of business, the size of your company, liability coverage limits, and how high or low your deductible is.

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What is Cyber Security Insurance?

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What is Cyber Security Insurance?

As technology advances, data breaches and other cybercrimes have become increasingly common. Cyber Liability insurance protects your company should a security breach occur involving sensitive customer information including Social Security numbers, credit card numbers, account numbers, driver’s license numbers, and health records.

What is General Liability Insurance?

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What is General Liability Insurance?

Professional & General Liability Insurance provides coverage for your business against claims for personal injury, property damage, or bodily injury. If your business provides a professional service, regularly gives advice to clients, or is requested by a client to have insurance, you should consider Professional & General Liability Insurance coverage.

What is Professional Liability Insurance?

Read More

What is Professional Liability Insurance?

Professional & General Liability Insurance provides coverage for your business against claims for personal injury, property damage, or bodily injury. If your business provides a professional service, regularly gives advice to clients, or is requested by a client to have insurance, you should consider Professional & General Liability Insurance coverage.

How do I contact NOW Insurance customer service?

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How do I contact NOW Insurance customer service?

You can either:

– Select the “Contact Us” button from the top menu on every page and complete an email to customer service

– Email customer service directly at info@nowinsurance.com or call (888) 585-2075

How do I report a claim?

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How do I report a claim?

Log into your account and follow the instructions for how to report a claim.

How do I get a copy of my Certificate of Insurance?

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How do I get a copy of my Certificate of Insurance?

There are a couple of ways:

– At the top right of every page, click the “log into account” button. Log into your account and have the certificate emailed or downloaded to you.

– Select “contact us” from menus and request a Certificate be sent to you

I do not see my profession or business type anywhere on the website. Can I still get insured?

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I do not see my profession or business type anywhere on the website. Can I still get insured?

While NOW insures many types of businesses, we do not cover the entire market.  We will be adding many more classes in the coming months. Please visit the website again or leave a message with the customer service department.

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