As a hard-working business owner, you understand the importance of providing quality services and goods to your clients and customers. Yet, despite your best efforts, mistakes will happen. These mistakes can result in costly lawsuits against you, your employees, or your company. Protect yourself and your business with a good NJ errors and omissions insurance policy. EO insurance policies can be tailor-made to fit the requirements of your specific industry. For example, if you have a boat rental, you’ll need to include marine liability in your policy.
While policies will differ, most NJ errors and omissions insurance policies will cover the following mistakes:
- Failure to communicate or inform others
- Failures in design or plan implementation
- Copyright infringement, including the misappropriation of ideas
- Mistakes in filling out forms, submitting forms, and other paperwork issues
- Failures to place bids in a timely manner
Other types of coverage can be included depending on your company’s needs.
NJ errors and insurance policies will typically cover the expenses of litigation. This includes your administration fees, court costs, and lawyers’ fees. In addition, any out of court settlements and judgments reached through trial can be paid by your EO insurance policy. Talk to an insurance broker today to get the coverage you need to enjoy peace of mind.