At Blue Lion Insurance Advisors, LLC, our New Jersey clients often ask whether their business requires Professional Liability coverage or if Commercial General Liability coverage is sufficient. This is an important question and one our experienced insurance advisors are well-prepared to answer. Contact us now for a free consultation so we can discuss the subject in detail. We can be reached at (732) 649-1600 or contacted online.
Because Blue Lion Insurance Advisors, LLC is not affiliated with any one insurance provider, our loyalty belongs to our clients. This enables us to take a broader view of which policies our clients need to protect their companies and to have a full range of suitable policies to offer that will be suitable for your particular company.
Will Your Company Benefit from Professional Liability Coverage?
At Blue Lion Insurance Advisors, LLC, we are well aware that your business has elements that are distinctive or even unique, and that no one understands its workings better than you do. That’s why we take the time to work collaboratively with you when assessing risk factors.
If You Offer Professional Services, You Need Professional Liability Coverage
Professional services can, in some cases, be hard to define. This is an area in which our knowledgeable insurance advisors can be extremely helpful. The following partial list of businesses and practices that need professional liability coverage should help to clarify the concept:
- Accountants and financial advisors
- Physicians, dentists, other healthcare professionals
- Veterinary practices & pet grooming establishments
- Real estate brokers
- Architects & engineers
- Cosmetic services
- Construction companies
- Home inspection industries
- Consulting agencies
- Travel agencies
- Advertising and marketing firms
- Educational facilities
- Hospitality services
- Insurance companies
- Printing and publishing companies
- Website developers
- Wedding planners
As you can see, the list of types of businesses that need the protection of Professional Liability Insurance is extensive. Contact our sharp insurance advisors to determine whether your company is one of them and to make sure that you purchase the right policy at the right price.
Claims Professional Liability Insurance Protects You From
Generally speaking, if your business provides a professional service, it is necessary to obtain professional liability coverage to protect your reputation and your bottom line from accusations of:
- Negligence — failure to take proper care
- Misrepresentation — false or misleading advertising or account of services
- Unreliable advice that results in damages
- Violation of fair dealings
- Malpractice — improper or negligent professional behavior
- Lack of good faith and fair dealing
In other words, Professional Liability coverage protects your business and its assets from claims of mistakes, missed deadlines, failed deliveries, incomplete services, breaches of contract, and similar errors — any of which can have catastrophic consequences.
The Dangers of Not Having Professional Liability Coverage
As you are no doubt aware, a single lawsuit claiming a serious mistake or negligent action on the part of your company could result in a costly settlement, exorbitant legal fees, and expenses surrounding reputation remediation. In some cases, it could throw your business into bankruptcy proceedings.
Contact Our Experienced Insurance Advisors Today
Whether your business is a startup or already a thriving enterprise, you have worked hard to get it where it is today. Don’t let the threat of a lawsuit keep you up at night or a claim threaten your company’s stability. Get in touch with us to make certain that you have the insurance coverage to make your company Blue Lion Strong™.