As a lawyer, you are undoubtedly completely committed to your clients and do your best to help them get the best possible outcome in legal situations. Unfortunately, your clients will not always be committed to you. It is not uncommon for an unhappy client to pursue you legally if you don’t manage to get them the outcome they want.
Malpractice lawsuits are becoming increasingly common and can easily sink your practice if you don’t have the necessary funds to handle the associated costs. This is where lawyers e&o insurance comes in to help.
What Is E&O Insurance?
E&O insurance, otherwise known as professional liability insurance, is a type of insurance coverage that can protect you from the financial consequences of a variety of claims that you could end up facing. The most common claims you could face are claims of negligence or claims of errors and emissions.
How Much Does E&O Insurance Cost?
The cost of E&O insurance can vary widely. There are a number of factors that can influence the price you will pay for coverage. Some of these factors are:
- Your location
- The size of your legal practice
- Your claims history
Being a lawyer is not always easy. Having good E&O insurance can help ensure things run far more smoothly.