Omissions Insurance for Insurance Agents

Omissions Insurance for Insurance Agents

omissions insurance for insurance agents

Insurance agents work hard to ensure clients have the right level of coverage for their homes, cars, real estate and more. In their busy professional lives, they may never stop to think about omissions insurance for insurance agents.

We’re All Human

Professional agents need insurance, too, because in the end, we are all human and we all make mistakes. For instance, you may find yourself in a very busy season, dealing with claims from homeowners whose roofs were damaged in a recent hail storm. While setting up a new account for a client during this same period, perhaps you make an error or omit some small but important detail on their policy. If this happens, and a claim is denied because of it, you may have a lawsuit on your hands.

Determine Your Needs

For independent agents, this is a nightmare. Even if you win the lawsuit, you will still have attorney fees to pay for out-of-pocket. You could lose your business. For agents who work for a larger company, it’s a good idea to examine your company policy against errors and omissions and ensure you are covered.

Independent or not, it is essential for agents to ensure they have the appropriate level of coverage for all situations. Look for a company that specializes in omissions insurance for insurance agents and that can help you determine your needs.