Working at your own pace has always been your dream, fitting right inside your dedicated home office space surrounded by the relaxing atmosphere that you can only imagine in a corporate environment. Now, at last, you’ve reached what you always longed for, the good life of freelance consulting. You’re ready to take on the new, exciting challenges that wait for you while working on your own.
However, your situation puts you in a new spot of being vulnerable to clients who can take legal action against your projects. You’re constantly at risk of being indicted if one of your projects goes astray. You may potentially miss a critical deadline in a time-sensitive project, your computer program may cause a widespread glitch to the entire system, or you’re working with a company experiencing financial losses. Without anything to fall back on, one wrong move can spell disaster for your entire venture.
To combat these prospective issues, you’re going to need protection in the form of a business coverage plan. An errors and omissions (E&O) insurance is like a security to anchor you in case something unfortunate happens with the project you’re working on. It’s assuring yourself that you have something to rely on, that something has got your back.