Have your checked your errors and omissions policies lately? Remember, as a Help-U-Sell® franchisee, you are required to have ongoing and current Errors and Omissions coverage. You must submit certified copies of your E & O policies to Help-U-Sell® Corporate in Sarasota, Florida.
Why is it important to have E & O insurance coverage?
Simply because we are all subject to human error. As a professional, you need to protect yourself with Errors and Omissions, commonly known as E & O Insurance. This insurance covers your company, or you individually, in the event that a client holds you responsible for a service you provided, or failed to provide, that did not have the expected results.
What does E & O insurance cover?
Most E & O policies cover judgments, settlements and defense costs. Even if someone submits a groundless claim, the costs to defend it can be enormous. The costs and time can bankrupt a small company and have a lasting effect on the bottom line of a large company.
When do I need to buy it?
The best time to buy an E & O policy is before the risk is taken. If you are in a service industry and you know you will have exposure, make an E & O policy part of your insurance portfolio. Remember, even if you are not at fault, litigation is both time-consuming and expensive.
How do I choose my E & O policy?
There are no standard E & O policies. Each policy is specifically worded to the type of coverage needed depending on the profession in which you are operating. For example, an attorney’s policy is totally different than a policy required by a real estate agent or broker.
What does E & O do to help my business?
Having a current E & O insurance policy can be a selling point with your clients. It gives them “peace of mind.” If you are covered with E & O insurance, your clients know they will be financially protected if there is an error or omission. People understand that human errors happen; however, clients always have “piece of mind” when they know that in the case of any errors or omissions they will be compensated.
Send a certified copy of your E & O policy to Help-U-Sell® Corporate.
Remember, your contract with Help-U-Sell© requires you as the Franchisee to submit certified copies of your policies. During the internal auditing process, check your insurance portfolio to make sure your E&O Policy is fully in force. If you haven’t already done so, please make sure that you submit it to the Help-U-Sell© Corporate headquarters in Sarasota, Florida.