When you own a business, standard contracts are useful tools that protect you as well as your clients. You’re human, so mistakes can happen. If your client feels you harmed them in any way, or that you have committed an error or an omission in rendering your services, they could file a lawsuit. In that case, a simple contract might not be enough to save your business from costly litigation. Fortunately, you can be more prepared for that kind of unfortunate situation. MPL insurance, short for Miscellaneous Professional Liability, is a type of coverage for professionals who provide services. MPL coverage can keep you from losing precious time and financial resources if allegations are levied against you.
What Kind of Coverage Do You Need?
Coverage under MPL insurance can encompass regulatory action, costs for incurred legal fees, third party indemnification, and more. The best liability coverage for a pest control service can differ greatly from the type of insurance an accounting firm might need. Fortunately, policies can be tailored to fit many kinds of different fields and the services they offer. It’s never too late to protect yourself and your business. Your insurance agent specializes in professional liability, so they have the experience to know what to include in your MPL insurance policy. Contact them today to explore your options.