What You Should Know About Getting the Right Professional Liability Insurance
As a small business owner, you want to protect your investment as best you can. From commercial property to commercial auto insurance, you need the right coverage to protect against incidents and disasters. However, when it comes to liability, you want to ensure your business is well protected. Minimize your risk for any professional lawsuits with the right professional liability insurance in Vancouver, WA. Here’s what you need to know about preventing lawsuits in your business.
Maintain Thorough Records
It doesn’t matter what kind of business you run, it’s important that you keep adequate documentation of all of your business relationships and transactions. That way, should you find yourself in legal trouble, you have a document to help support your claim. Documentation can help to stop potential lawsuits in their tracks before they become lengthy legal battles. Ensure you have written contracts, confirmation emails, written policy and procedure, and a written method through which clients are able to complain.
Set Clear Expectations
If you over-promise and underdeliver, chances are the client is going to be unhappy. To protect your business (and business relations), ensure that you communicate clearly so that nothing can be misunderstood. When your clients know what to expect and understand the process, you can avoid miscommunications that may lead to legal troubles for your business.
Secure Insurance
Your business should be ready for any disaster. With professional liability insurance, you can rest assured that you have a safeguard in place. Commonly known as errors and omissions insurance (E&O insurance), this coverage can cover the cost of defending your company in a civil lawsuit and certain damages awarded, even if the legal action turns out to be groundless.
Keep your company safe with the right professional liability protection. At Action Insurance Group, we’re dedicated to providing business owners with quality insurance that they can rely on. We serve WA, OR, CA, ID, and UT.
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