What is errors and omissions insurance?
The Bankrate.com financial term of the day is: "Errors and Omissions Insurance."
When you have a business, you can make mistakes because, after all, you're only human. Or you may find out the customer isn't always right. Errors and omissions insurance would protect you in both these scenarios. Architects, contractors and other businesspeople who serve clients buy policies that provide coverage if their customers take them to court claiming there were problems with the work.
Errors and omissions insurance protects business owners from potentially expensive claims when customers are unhappy campers.
To shop for insurance to fit your needs, visit the Insurance section at Bankrate.com.