Business Insurance for Insurance Agents
Insurance agents benefit from having several types of business insurance to protect from accidents and other situations, such as customer injury and claims of negligence.
Luckily, making sure your agency is protected is simple with the Progressive Advantage® Business Program. We’ll connect you with a provider to set up a policy that meets your needs.
E&O insurance for insurance agents
Errors and omissions (E&O) insurance, also known as professional liability insurance, protects insurance agents against claims of negligence and failure to render services. It’s a vital part of an agent’s business insurance policy because general liability doesn’t protect against these types of claims.
For example, an insurance agent forgets to add collision coverage to a customer's vehicle while setting up a policy. After an auto accident, the customer discovers the error and sues the agent. E&O insurance could help cover the cost to defend the agent's business.
Other business insurance coverages for insurance agents:
General liability protects your insurance agency from third-party damages and injuries. For example, a customer trips over a rug while at your office and gets injured. Your general liability policy can help cover their medical expenses.
A BOP combines general liability with commercial property coverage to form one easy-to-manage policy. If your agency owns property, you might consider a BOP.
Workers comp’ protects your employees should they become injured or ill on the job.
How much does business insurance for agents cost?
The cost of business insurance is based on a variety of factors, including number of employees, business location and coverage needs. For example, an insurance agent seeking just E&O coverage will have a different rate than an insurance agent who requires both general liability and professional liability coverages.
Learn more about how business insurance is calculated.
Get a business insurance quote today
Whether you need multiple coverages or an E&O insurance policy, getting an insurance agent business insurance quote is simple. Call us for expert advice, or start a quote online.
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