Insurance Protection for Individuals & Businesses

Professional liability coverage — also called errors and omissions (E&O) insurance — is commonly used by businesses that provide advice, consulting, design, legal, medical, financial, or technical services. Any business where a client could claim financial harm from a professional error or omission may benefit from this coverage. General liability policies typically do not cover these types of claims.

Business interruption insurance helps replace lost income when a covered event — such as a fire or certain weather events — prevents a business from operating normally. Coverage typically applies for a defined restoration period and may also cover certain extra expenses incurred while the business works to resume operations. It is important to note that business interruption coverage is generally tied to a physical damage trigger — meaning a covered property loss usually must occur first.

An occurrence policy covers claims arising from events that happen during the policy period, regardless of when the claim is actually filed. A claims-made policy covers claims that are both reported and filed during the policy period. Claims-made policies often require "tail coverage" (an extended reporting period) after cancellation to preserve protection for incidents that occurred during the active policy period but are reported later.

Yes, in some situations. A home office is a common example — a standard homeowners policy may cover some personal property in the space, while business equipment or business liability arising from the same location may not be covered without an endorsement or a separate commercial policy. Reviewing what each policy covers in the context of mixed-use properties is advisable.