Do Insurance Agents Really Need Liability Insurance?

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As an insurance agent, you may be wondering if it is really necessary for you to have a liability insurance policy. After all, you are in the business of selling insurance to protect other people, so do you really need a policy to protect yourself as well? The answer is a resounding “yes!” Unfortunately, insurance agents are highly susceptible to various lawsuits, including those that claim errors of omission. An Austin insurance agents liability insurance policy will help protect you and your business if you are ever issued a court summons.

What Liability Insurance Will Do for You

Austin insurance agents liability insurance will not protect you from all threats, but it will provide you with adequate protection from some of the most common professional threats you may face. While not all policies are the same, most offer coverage for the following risks:

  • Injury damages
  • Attorney expenses
  • Settlement or judgment costs
  • Mistakes of errors and omissions

In order to choose a policy that adequately covers your unique risks as an insurance agent, it is important to sit down with a policy provider and discuss your various needs. Having a customized liability insurance policy could mean the difference between overcoming legal difficulties and facing bankruptcy because of a lawsuit that is not covered by your policy.