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Errors and Omissions (E&O) Insurance Explained for Construction?

Levelset

Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.

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Professional Liability Insurance Explained

Levelset

Unlike general liability insurance — which protects contractors when their work leads to bodily injury or property damage — professional liability offers coverage in situations when their work causes another party to lose money. Professional liability insurance protects against claims related to professional negligence.