What is professional liability insurance?

Also known as general (or commercial) liability insurance, this type of coverage protects you and your company from “general” bodily injury and property-damage claims – and is something no business should do without. Some of the factors that go into a business liability quote include:

  • Any prior losses
  • Track record
  • Annual sales and payroll
  • Number of employees
  • Square footage Prior coverage
  • Details about your products or services
  • Commercial credit score

What does business liability insurance cover?

Business liability insurance coverage protects you, your business and your employees from claims involving bodily injury or property damage, up to the limits on your policy. Some common business liability claims involve slips and falls due to poor lighting, wet floors, icy sidewalks, uneven pavement and loose or missing handrails.

What is professional liability insurance?

Professional liability insurance can protect you and your business from lawsuits caused by charges of negligence, errors, omissions and malpractice. As the name suggests, professional liability insurance is designed for consultants and other professionals, such as accountants, architects, church counselors, funeral directors, health-care workers and veterinarians.

What does professional liability insurance cover?

Professional liability insurance policies can cover judgments, attorney fees, court costs and settlements when claims are made against you or you are sued for the professional services you provide – even if claims are found to be unwarranted. Professional liability insurance can also cover the insurance company’s investigation and attorney expenses, bodily injury or property claims resulting from accidents on your property or from your operations, as well as advertising injuries, such as slander, libel or copyright infringement. To learn more, contact your local agent or call Nationwide at 1-888-490-1549.

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Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply.