The line between General Liability and Errors and Omissions can seem blurred, but they aren’t the same coverage. We speak to over 200 property preservation contractors per month, and they often ask why they must have both coverages. The answer lies in their differences:
General Liability protects against accidents and injuries that occur on your premises or other covered locations where you normally do business. It covers claims of bodily injury, other physical injury, and property damage.
Errors & Omissions
Errors and Omissions protects companies and individuals against claims made by customers for mistakes, failure to perform contractual work, or negligent actions. It covers court costs and any settlements up to the amount specified on the insurance policy.
Why You Need Both
While both are liability policies, each provides coverage for different exposures and Property Preservation Contractors must have both.
For example, if you or your employee failed to adequately drain household water pipes and they froze, resulting in thousands of dollars in damages, you would need general liability coverage for the property damage and errors and omissions coverage for the court costs and possible settlement.
We Can Help
Brunswick Companies offers an E&O Professional Liability product for Property Preservation Contractors that includes an endorsement for General Liability coverage. Having both coverages in one policy will provide you with quick, efficient claims handling and competitive pricing.
Get an online quote or call us today at 800-686-8080 to speak with one of our professionals.