Errors & Omissions (E&O) Insurance Cost Calculator
Protect your business from client lawsuits and mistakes. Use our free Errors & Omissions (E&O) Insurance Calculator to estimate your professional liability coverage costs. Whether you're a consultant, contractor, or small business owner, get a clear picture of your expected monthly or annual premiums instantly.
Coverage Preferences
Average annual premiums for $1M coverage
- Choose a higher deductible
- Maintain strong client contracts
- Implement internal review processes
- Bundle with general liability insurance
Errors & Omissions (E&O) insurance, also known as professional liability insurance, covers legal costs and settlements from professional mistakes or negligence. It's essential for consultants, contractors, and any business providing professional services to clients.
- • Type of profession or industry
- • Business size and annual revenue
- • Claims history (if applicable)
- • Coverage limit and deductible
- • State regulations and provider pricing
What does E&O insurance cover?
E&O insurance covers legal defense costs, settlements, and judgments from claims of professional negligence, mistakes, or failure to deliver promised services.
Is E&O insurance mandatory for consultants?
While not legally required in most cases, many clients and contracts require consultants to carry E&O insurance as a condition of doing business.
How can I calculate the right coverage limit?
Consider your contract values, potential liability from mistakes, industry standards, and client requirements. Most professionals start with $1M coverage.
Does E&O insurance cover independent contractors?
Yes, independent contractors and freelancers can and should carry E&O insurance to protect themselves from client claims and professional liability.