Insurance lingo can sound like a foreign language to the average person, and if you are feeling intimidated by your lack of insurance knowledge you are less likely to get the right insurance for consultants policy that you need. Instead of hoping that you have sufficient insurance coverage to adequately protect you in your professional endeavors, take a moment to ask yourself a couple of simple questions that will help you figure out if you have adequate insurance coverage.
Will Your Insurance Policy Cover Missed Deadlines?
When you work as a consultant, your clients depend on you to meet strict deadlines. If something were to happen and you were unable to meet an imperative deadline, would your current insurance for consultants policy cover a lawsuit against you? If not, then you should shop for additional coverage in case something unexpected keeps you from meeting your project cut-off dates.
Are You Protected From Errors and Omissions Claims?
As a consultant, you handle a great deal of personal and confidential information for your various clients. If you were to ever misrepresent the facts or fail to keep electronic data safe from theft, would you have the right insurance coverage to protect you from an errors and omissions claim?
If you do not feel confident that your insurance for consultants policy is adequate to protect you from situations such as these, then it is time to talk to your insurance agent about purchasing additional coverage.