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Elizabeth Rivelli is an insurance writer passionate about helping people navigate the complex world of insurance to help them make empowered choices.
Updated September 01, 2024 Fact checked by Fact checked by Maddy SimpsonMaddy Simpson is an experienced data journalist and fact-checker with a background in financial analytics.
If you own a business and work with clients, it’s a good idea to purchase professional liability insurance. Professional liability insurance, also called errors and omissions (E&O) insurance, pays for your legal defense if a client or customer sues your business for negligence or malpractice. Without professional liability insurance, your business is on the hook financially if you end up in a lawsuit—whether you win or lose.
Professional liability insurance is one of the most valuable business insurance policies that you can have, but not all insurance providers are created equal. To find the best professional liability insurance companies, we started with a list of 17 carriers and closely evaluated each one based on policy options, ease of use, industry specialty, price, and customer satisfaction.
Use an insurance marketplace like Tivly to get matched to the best provider for your business.
Best Professional Liability Insurance Best Professional Liability Insurance
With a variety of policy options for every industry, specialty coverages, and its signature ReputationGuard program, AIG is the best overall professional liability insurance provider.
Pros & ConsBased on our research, AIG is the best overall professional liability insurance provider. You can choose from a long list of coverages, including specialty options you won’t find elsewhere. No matter what happens, an AIG professional liability policy has you covered.
Through AIG, you can purchase a policy that is designed specifically for the errors that are most common in your specific industry, with unique coverages for robotics professionals, business leaders, and publishers, just to name a few.
Another benefit is its ReputationGuard coverage, which pays for services like crisis communications, media training, rapid response, and social media management if your business gets involved in a major lawsuit. You can also choose to purchase income loss protection as part of the ReputationGuard program.
Although AIG offers a wide variety of business insurance products, it doesn’t offer the most basic one—general liability insurance. Some of the policies available include accident and health insurance, cyber liability insurance, environmental insurance, mergers and acquisitions insurance, and surety bonds.
To get a quote for AIG professional liability insurance, you will need to get in touch with an agent. AIG handles claims via phone and email, and you can refer to the claim reporting guide to find the right contact for your industry and policy type.
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Pogo’s insurance marketplace is designed specifically for freelancers and sole proprietors, and it can help you find reliable coverage at an affordable price.
Pros & ConsPogo is a newer insurance company that essentially operates as an online insurance marketplace. It’s our top recommendation for freelancers because the company specializes in coverage for independent contractors and understands the unique risks that self-employed professionals face.
When you fill out the online application, Pogo will match you with several insurance companies that fit your coverage needs based on the type of business you own, the size of your business, your income, and the structure of your business. An agent can also recommend an appropriate amount of coverage to adequately protect your professional liabilities.
In addition to professional liability insurance, freelancers can work with Pogo to purchase general liability insurance, a business owner’s policy, workers’ compensation insurance, cyber liability insurance, business property insurance, business auto insurance, hired and non-owned insurance, umbrella insurance, and inland marine coverage.
Pogo is a solid choice for professional liability insurance if you work on a freelance basis, but the company does have some downsides worth mentioning. First, the company doesn’t say which insurance companies it partners with. You’ll have to request a quote in order to see your matches. And once you submit the form, you have to wait for a Pogo agent to reach out with your results.
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Healthcare providers are subject to costly malpractice and negligence lawsuits, but a professional liability policy from The Doctor’s Company offers valuable protection.
Pros & ConsThe Doctor’s Company is the biggest medical malpractice insurance company in the country, and it’s our top pick for professional liability insurance for healthcare workers. The company sells coverage to more than 90,000 individuals across the country, serving doctors, dentists, surgeons, and entire healthcare systems.
E&O insurance policies from The Doctor’s Company include a variety of coverages that are not covered by a standard malpractice insurance policy. However, the company does not include much information online about what its policies actually cover.
In addition to E&O insurance, you can also purchase medical malpractice coverage, MediGuard coverage for Medicare/Medicaid claims, management liability insurance, health and disability insurance, employment practices liability insurance, property and general liability insurance, and workers’ compensation insurance.
One of the unique features of The Doctor’s Company is its rewards program called The Tribute Plan. Every policyholder gets to participate in The Tribute Plan, which pays healthcare workers for being loyal customers and providing their services to patients.
One of the downsides to The Doctor’s Company is that you must work with an agent directly in order to get a quote or buy coverage. There is an online form used to request a quote, but you’ll need to wait for a representative to get in touch before you can start the purchase process.
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Embroker’s legal malpractice (legal professional liability) policies are designed with lawyers in mind, so you can protect yourself from getting tied up in a lawsuit that might pull you away from billable work.
Pros & ConsEmbroker’s professional liability insurance is the best option on the market for lawyers. Attorney professional liability insurance pays for your own legal defense if a client sues you for negligence, malpractice, misrepresentation, oversight errors, and more.
With Embroker, you can set personalized coverage limits and choose a deductible that fits your budget. Best of all, you can apply online and get coverage in minutes. Most types of coverage do not require a waiting period.
In addition to professional liability insurance, Embroker also sells tons of different business coverages, including business owner’s policies, commercial crime insurance, cyber liability and data breach insurance, key person insurance, fiduciary liability insurance, surety bonds, and workers’ compensation.
Another reason why Embroker is the best professional liability provider for lawyers is that the coverage is affordable. Embroker is a digital insurer, which allows the company to keep prices low. And if you have questions about your coverage, it’s easy to get in touch with Embroker via phone Monday through Friday, from 6 a.m. to 6 p.m. PT, or through email and live chat.
Embroker was the first digital business insurance provider in the country and was founded in 2015. The company started selling lawyers professional liability insurance in 2020.
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Thimble Insurance offers affordable and flexible professional liability insurance, which is ideal for small businesses that have changing coverage needs.
Pros & ConsThimble Insurance is the best choice for small business professional liability insurance. The coverage is affordable, you can choose how often you want to pay, and the application process is quick and easy. As your company scales, you can easily adjust your coverage through the online customer portal.
Professional liability insurance from Thimble is available for individuals in many different professions, including pet sitters, freelancers, event managers, beauty professionals, fitness professionals, and more.
One of the best features of Thimble is the flexibility it provides in policy terms and payment options. You can buy annual coverage, or purchase insurance for individual projects that only last a few days or weeks, so you’re not paying for coverage you don’t need.
Thimble’s professional liability insurance policies start at just $36 a month, and instead of paying your premium in one lump sum, you can opt to pay monthly instead.
Thimble sells several other types of business insurance, including general liability insurance, equipment insurance, business owner’s policies, workers’ compensation insurance, and even hard-to-find policies, like drone insurance and event insurance.
According to one of the company's pages, professional liability policies are available in all states. However, you should check with a representative because another page notes that the professional liability policies are not available in Washington or New York.
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Real estate agents and brokers can get reliable professional liability insurance through Hiscox, which provides tailored coverage and worldwide protection.
Pros & ConsHiscox is our recommendation for real estate agents, property managers, and brokers who need professional liability insurance to protect themselves from lawsuits with buyers and sellers. Whether you own a small real estate firm with multiple agents or sell properties by yourself as a side hustle, you can qualify for coverage through Hiscox.
Professional liability insurance policies from Hiscox have flexible payment options. You can choose to pay your annual premium up front or pay in monthly installments, with no added fees.
The coverage is customized for the risks that realtors face, and if you ever need to file a claim, Hiscox will assign a dedicated claims representative to advocate on your behalf. Plus, your coverage applies anywhere in the world, which is ideal for agents who sell properties in multiple countries.
Realtors can purchase a variety of other business insurance policies through Hiscox, including business owner’s policies, general liability insurance, cyber security insurance, workers’ compensation, medical malpractice insurance, commercial auto insurance, umbrella insurance, directors and officers insurance, and employment practices liability insurance.
Hiscox is one of the oldest business insurance providers in the country. It was founded in 1901 and today has over 500,000 customers. Hiscox primarily serves small businesses, but coverage is available to companies of all sizes and in many industries.
As you can tell, there are lots of insurance companies on the market that sell professional liability insurance. Finding a company that understands the unique risks of your profession is the challenge.
We stand by all the companies on this list, but our top recommendation is AIG. The company sells reliable insurance for individuals in many different industries, and you won’t find AIG’s specialty coverages, like reputation management and income loss protection, from many other providers.
