Professional Liability Insurance in Vermont
What is Professional Liability Insurance?
Professional liability insurance helps to cover your Vermont business‘s expenses when a lawsuit is filed against you.
Losses can occur in a variety of ways, including physical and financial. Bad professional advice can lead to a client losing their retirement savings, their health, or even their life. When this type of situation occurs, you can be sued by your client as they try to recoup their losses. For you, it means lost time at work, court costs, and defense fees, even if you are ultimately found not liable. If you are found liable, you may have tens of thousands – or even millions – to pay in damages.
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“I just wanted to take a moment to let you know how great I think Caroline Collins is. – Every time I call to update my policy(and I have updated it a lot over the years) Caroline has been nothing but amazing to deal with. She takes care of all my needs in real time which is amazing. She is very personable, always respectful, extremely knowledgeable, and just all around awesome to deal with. I truly enjoy dealing with her and think she is a huge asset to your business from where I sit.”
“Friendly and prompt – I have been with T.S Peck for many years and have no complaints with their trusted service. They have always taken a friendly approach to their craft and are always willing to answer all of my questions!”
“We Contacted T.S Peck Insurance to inquire about auto insurance/ After with with Jake, we explored combining our auto and home insurance, in turn realizing a big savings.”
“When I called for a quote, my agent was personable and helpful. He always got back to me quickly with answers, which is extremely important. The entire process was handled in a timely manner and was able to meet my expectations and beyond.”
“Jake Hynes and the folks at T.S. Peck have been awesome to work with! As a recent start-up, we were new to the “buying business insurance” scene. One phone call and all our concerns were laid to rest. The service has been great and the prices are very competitive. We recently price shopped again and found we were still in the best hands!”
Who Can Benefit From Professional Liability Insurance?
Many industries are considered to provide professional services. Any of these can be eligible to obtain professional liability coverage to protect their business. Professional services are those jobs in which you are compensated for providing opinions, advice, or care, such as:
Types of Professional Liability Insurance
Because professional liability coverage can cover so many industries, it is typically divided into three separate types of coverage, each tailored to a subset of professional industries.
- Malpractice Insurance helps to provide coverage for doctors and other healthcare professionals for injuries or death caused to patients due to negligence or errors.
- Errors and Omissions Coverage helps to provide coverage to a broad range of non-healthcare professionals.
- Directors and Officers Coverage is designed to help cover executives and high-ranking employees for lawsuits involving hiring and firing practices, financial responsibility, and similar situations.
While each type of policy has its own coverages and exclusions, they all typically cover defense and other legal costs as well as any legal settlements, up to your policy limits. Your insurance agent can help determine what type of policy is right for you as well as how much coverage you need.
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For questions or concerns, please contact our independent insurance agents.
Office: 41 IDX Drive, Suite 135
South Burlington, VT 05403
Office: 158 Lake St,
St Albans, VT 05478