Attorneys know better than anyone just how valuable a comprehensive business insurance policy can be. And this doesn't just apply to those they represent but to their own businesses as well. Whether you’re starting a new firm or renewing the coverage for an existing practice, it’s important to evaluate your needs so you can purchase policies that will meet all of them. Although every firm is different, there are a few kinds of general insurance that all practices should carry. Here’s a closer look. 

Errors & Omissions Insurance 

Sometimes called professional liability or malpractice coverage, errors and omissions insurance will protect your firm if you end up facing a suit brought by a client. This is arguably the most important kind of business insurance a firm can purchase because even the best practices are vulnerable to malpractice claims. Whether a client believes you missed a deadline, misinterpreted the law, gave bad advice, or let a conflict of interest sway you, your errors and omissions insurance will cover any resulting legal bills and subsequent settlements or verdicts up to the policy’s limit. 

Cyber Liability Insurance 

Law firms must handle all kinds of sensitive documents, and nowadays, a significant portion of them are submitted through digital portals. As such, a breach in the firm’s cybersecurity could prove detrimental to both the attorneys and their clients. As long as you purchase cyber liability insurance, though, you’ll have peace of mind knowing that if any data becomes compromised, your insurer will cover the damages. 

Business Owners Policy 

A business owners policy (BOP) includes various kinds of coverage, the terms of which are tailored to the policyholder’s unique needs. For law firms, such coverage might include general liability insurance and property protection. General liability insurance pays out in the event that a third party, such as a client, sustains bodily injury or property damage on the premises. Property insurance, on the other hand, protects the actual office structure as well as all the furniture and equipment inside it. 

If you have employees, you may also want to buy employment practices liability coverage, which protects you from work-related claims, such as those regarding harassment, wrongful termination, and failure to promote. 

If your law firm needs business insurance, turn to Seeman Holtz. Based in Boca Raton, FL, this agency provides insurance products, risk management services, and financial planning for clients nationwide. In other words, their knowledgeable agents are proud to help companies plan for all eventualities. To request a quote for a business policy that’s been tailored to meet your needs, visit their website or call (800) 991-3592.