Errors & Omissions Insurance Cost

Try our insurance calculator.

Get a quick estimate in just 3 steps. No obligation. No email required.

Insuring over 1 million small business owners worldwide.

Buy instantly online. No junk mail. No spam calls.

How Much Does E&O Insurance Cost?

Each business owner has their own strengths, skills, talents, and vision for their business. But the one thing they all have in common is the potential to make a mistake. While mistakes can be a great way to learn, they also can be costly for your business.

That’s where errors and omissions insurance, also known as professional liability insurance, can help. This coverage helps financially protect your business from mistakes and errors. Even if you don’t believe you’re in the wrong, you could still face a claim.

Let’s break down what errors and omissions insurance typically costs, what affects the price, and how Simply Business makes getting coverage easier and more affordable.

How much does errors and omissions (“E&O”) insurance cost?

Here’s a snapshot of what our customers typically pay for E&O insurance:

Monthly Errors and Omissions Insurance Costs¹

Under $25

5% of customers

$25 to $95

83% of customers

Over $95

12% of customers

¹Data from Simply Business customers who purchased an E&O policy from July 1, 2024 to December 31, 2024.

What you pay depends on a few key things, including: your industry, location, number of employees you have, and how much coverage you choose. But most small businesses will pay less than $95 per month.

While these figures reflect actual policies bought through us, securing a great premium involves more than just data. It’s about partnering with someone who truly understands your business. We team with various reliable insurance providers to provide tailored options, enabling you to select a policy that fits both your business and your budget.

Why Do Prices Vary So Much?

If you’ve been looking for errors and omissions insurance online, you’ve probably seen a wide range of prices with little explanation for why they differ. The reality is that insurance premiums hinge on several key factors.

We’re all about making business insurance easy to get and easy to understand, so here are some factors that affect the cost of your insurance:

Your Profession

The type of work you do plays a big role in your insurance premium. For example, if you’re a consultant or real estate agent, you might pay more because there’s more risk involved. But if you’re a notary or insurance agent, your risk is generally lower — so your premium may be as well.

Profession	Median Monthly Cost²
Business consulting	$47
Tax preparation	$33
Insurance professionals	$71
Bookkeeping	$28
Real estate agents/brokers	$48
Land surveyors	$159
Business consulting	$47

²Data from Simply Business customers who purchased an E&O policy from July 1, 2024 to December 31, 2024.

Location, location, location

Your errors and omissions insurance price can vary, based on where you work. In some states, certain professions are required to carry this type of coverage as part of their professional licensing requirements.

Below are examples of the median cost of errors and omissions insurance across different states:

State	Median Monthly Cost³
New Jersey	$44.67
Florida	$41.67
New York	$41.67
Washington	$34.42
Georgia	$37.50
Pennsylvania	$36.25
Texas	$35.08
California	$33.33
North Carolina	$33.33
Virginia	$33.33

³Data from Simply Business customers who purchased an E&O policy from July 1, 2024 to December 31, 2024.

Number of employees

You’re not the only one who’s human. Mistakes can happen to others, such as your employees. And the more employees you have, the more chances there are for something to go wrong. That’s why insurers may ask how many people work for you when calculating your premium.

Policy limits

Higher coverage can offer more protection, but it usually means a higher premium.

What else can affect the price?

Your claims history

If you’ve had previous claims, that might increase your premium.

Your experience

Have you been in business for years with no claims? That could work in your favor.

How to Save on Errors and Omissions Insurance

Fewer claims can mean lower rates. That’s why risk management should be a top priority:
• Document your agreements with clear contracts.
• Use checklists and reviews to catch small errors early.
Train your team to reduce mistakes and avoid potential lawsuits.
• Communicate clearly when problems arise.
• Learn from mistakes and take steps to prevent future issues.
• Strive for excellence and deliver promised services.

Where available, take advantage of monthly payments to spread the amount over the year.

Shopping around doesn’t have to mean running around. Simply Business can find customized coverage options from top-rated small business insurance providers — all in just 10 minutes. That way, you can sit back, compare errors and omissions insurance quotes, and save.

Errors and Omissions

A one-minute explanation.

Find out what errors and omissions and professional liability insurance cover, why you might need it, and how we can help — all in just 60 seconds.

If you’re a professional, you’re very good at what you do, but mistes can happen—sorry, look, mistakes can happen. That’s one of the reasons behind having professional liability insurance. Professional liability can cover you if a client sues your business for a mistake or negligence. It can help take care of any actual damages as well as legal costs. Without PL insurance, those costs could be coming out of your pocket, even if you’re found to be in the right. Just paying to defend yourself in court can be expensive, and getting covered is a breeze with us. With just a few minutes online or on the phone, our lightning-fast technology can help find you a policy from among the top insurers out there.

Trusted by Over 1 Million Small Businesses Worldwide.

This block is configured using JavaScript. A preview is not available in the editor.

More Errors and Omissions Insurance FAQs

Errors & Omissions (E&O) insurance protects you if a client alleges your professional services caused them financial harm. Also known as professional liability insurance, E&O coverage addresses various claims, primarily those stemming from human error.

As a professional, you’re great at what you do –– but no one gets it right 100% of the time. We recommend errors and omissions insurance for nearly any small business that provides professional services or advice.

Errors and omissions insurance can cover negligence or alleged negligence and poor performance or results — including those caused by an employee or an independent contractor you hire.

Bodily injury to the insured or an employee, medical costs to the insured or any employees, damaged equipment, and intentional mistakes or negligence.

It depends on your state and industry. But whether it’s required or not, we strongly recommend having liability coverage.

Yes, errors and omissions premiums are usually considered a business expense. But always check with your accountant to be certain.

You can get a full quote in about 10 minutes — and an estimate even faster, with just 3 quick questions.

That depends on your business. You can explore more here.

The Simply Business Difference

We make small business insurance simple — so you can get covered without the hassle. We’re a digital insurance brokerage. That means we’re not tied to one insurance provider. Instead, we partner with a range of top-rated carriers. With one easy form, you can compare quotes and choose coverage that fits your business, your risks, and your budget.

No hidden costs. No guesswork. Just clear, affordable options built for small business owners like you — so you can move forward with confidence, knowing you’re not overpaying.

Get a Quote