A renters policy is for you if you’re renting a house, apartment, or condominium. It protects your belongings and you from ugly unforeseen events that may displace you financially. One of the commercial insurance lines in property and casualty insurance, E and O saves your company from a lot unnecessary claim. An Errors and Omissions insurance helps you protect your company from lawsuit claims if there were any mistakes or omissions from your side. Also, if your client decides to sue you then this coverage can help pay for legal costs. If you want to know how much is e and o insurance then read ahead.
How much is e and o insurance?
On average an E and O insurance costs around $500 to $1000 per employee annually. It provides coverage such as bodily injury, property damage or advertising injury. It also covers for negligent acts, errors or omissions from your employees that invokes a lawsuit. If you want to become an insurance agent then make sure you get an E and O insurance as well.
If you want to sell personal line insurance such as home insurance then read ahead. You can even check out more insurance blog to learn about new trends.
A renters policy covers your personal belongings. Such belongings can be on the property or off of it. Moreover, the policy also covers your guests’ belongings. However, the coverage works only if the loss or damage occurs when the item is on the property. However, if you want to cover the valuables like your jewelry, fine art collection, and more, you can opt for a personal articles floater policy.
For example, the apartment you’re renting catches fire and brings about an unlivable situation. In addition to paying for the personal property lost in the incident, your insurance company in Pembroke Pines also pays for the additional living expenses. Such expense can include the cost of renting another room or staying in the hotel, flooding, and more. However, you need to remember that there’s a limit to the reimbursement you get from your insurer.
It takes only one incidence of injury to your visitor or guest to bring your way a hefty lawsuit. For example, your guest trips and falls, leading to an injured arm and scraped legs. As such, the injured can sue you and hold you liable for the medical bills. Such expense can be pretty heavy for you to bear. However, with renters policy, you’re safe from those sudden expenses.
You can opt for add-ons in your policy. Endorsements help you personalize your renters policy to fit your needs. They help you add, remove, or modify the standard coverages your insurance company in Pembroke Pines offers you originally. A few endorsements to remember are:
- Dog liability to protect yourself against lawsuits due to injury to your visitors caused by your dog.
- Equipment breakdown
- Personal article floater to cover your valuables like musical instruments, furniture, jewelry, and others.
- Identity theft protection
Discover your insurance needs to draw a rough sketch of what you want your renters policy to cover. Then, get insurance quotes from multiple insurers to analyze your choices. We have curated a guide on how to become an insurance agent to help you through the process.