General vs. Professional Liability. Difference?

Steven Ladd
Horan Companies, Inc
315-635-2095

Question #8 in the 100 insurance questions in 100 day series. By Steve Ladd of Horan Companies, Inc. in Baldwinsville, NY.

Primarily, the biggest difference is professional liability provides coverage for things that you might say in relation to your business that could cause financial harm to your customer whereas general liability protects somebody from bodily injury or property damage.
Think of general liability as slip and fall insurance, and think of professional liability – otherwise known as errors and omissions coverage – as insurance against something that you say that leads somebody to make a decision based on your advice that impacts them negatively.
Places that would carry professional liability insurance would be people like myself, accountants, real estate agents, attorneys, doctors, which are considered more malpractice levels of coverage but still fall into that same realm, sometimes mechanics and contractors, and a number of other ones as well. It’s not always easy to get professional liability but many organizations and many industries end up having it.

6 Oswego St
Baldwinsville, NY