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

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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.

What is errors and omissions insurance?

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.

Why do I need errors and omissions insurance?

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.

What does it cover?

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.

What’s typically not covered?

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

Is it required in my state?

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

Is it tax-deductible?

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

How fast can I get a quote?

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

What other insurance might I need?

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

Errors & Omissions Insurance Cost

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Errors & Omissions 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. This guide breaks down what errors and omissions (E&O) insurance typically costs, what affects the price, and how Simply Business makes getting coverage easier and more affordable.

What is Errors and Omissions Insurance?

Errors and omissions insurance, also known as professional liability insurance, can help 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. This type of coverage covers the costs of legal claims or damage caused by errors or unintentional omissions from your work.

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.

Video transcript

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.

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

Most of our small business customers pay under $95 per month for E&O insurance. However, the price is tailored to your specific business.

Here’s a snapshot of what our customers typically pay for E&O insurance:¹

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

How Much Will I Pay for E&O Insurance?

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

Which trade has the highest premiums?

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.

Which location has the highest premiums?

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.

What Affects the Cost of Errors & Omissions Insurance?

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

Reduce your risks

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.

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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.

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