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Your home is probably one of the biggest investments that you have made to date. Not to mention all of your belongings – and loved ones – that reside inside. Taking the steps to protect your home, your things, and your family should be a top priority for every homeowner. One of the best ways that you can do so is by purchasing homeowners insurance in Pennsylvania. The comfort of knowing that you don’t have to worry about how you would pay for damage if an unfortunate situation occurred makes the investment worth it.
What Types of Policies?
Knowing what homeowners insurance policy to choose can seem rather difficult, but experienced agents can guide you through the process and make suggestions based on your needs. A basic policy often includes liability and property coverage in the case of fire, injury, storms, or even theft. Many homeowners feel that they get enough protection from a basic plan, but others prefer to rely upon a complex plan that covers things such as expensive belongings, dogs, or trampolines. Depending on where you live, you may also benefit from flood or earthquake insurance in addition to your homeowners insurance in Pennsylvania. No matter what insurance plan you use, protecting your home is one benefit that you will not regret and will keep you feeling at ease throughout all stages of your life.
Professionals who have contracts with clients all need insurance to cover them in case something goes wrong and there are financial losses. General liability covers accidents that cause injuries, but Errors and Omissions, or E & O insurance, takes care of financial losses resulting from the services a professional gives a client.
Possible Lines of Work
Sometimes this insurance has different names, all of which cover a professional when a client alleges that a service rendered did not do what it was supposed to, causing economic damage, or that something was left out of a service, which also caused financial damage. Whether it’s called malpractice in the case of doctors, professional liability insurance like engineers carry, or E & O insurance, this type of insurance is a good idea for people in the following career fields:
Why You Might Need It
Everyone makes mistakes, but it’s a poor business plan that allows those mistakes to seriously hurt the business. Illegal activities, of course, are not covered by errors and omissions policies, but it should cover a range of mistakes in the way a contract is written, or the omission of crucial information. For example, a company might not be able to deliver a service or product by a deadline, which costs their client a deal, and thus money in the long run.
E & O policies can pay off in covering some of the following costs:
- Legal consultation
- Court costs
- Lawyer fees
- Judgment of damages
If there is a chance a mistake your firm makes can cost a client money or prevent them from earning money in the future, you are a good candidate for E & O Insurance.