Virtual Assistant Forums | Work from Home

JackieJ · #1 (**permalink**) 02-04-2008

I'm in the process of opening my VA business, so everything is new to me. Does anyone have information/suggestions on where to purchase the best E & O coverage, how much coverage is appropriate, etc.?
Any help/information will be greatly appreciated!
Thanks so much,
Jackie Finch

Kathryn · #2 (**permalink**) 02-04-2008

How funny, that's one of the questions I was going to ask today!

I'll wait to hear everyone's answers....

Office Goddess · #3 (**permalink**) 02-04-2008

I'm looking into E&O insurance - I will post what I find out...

Tess · #4 (**permalink**) 02-04-2008

Thanks so much Lily, this isn't something I carry (yet?) so I too will be interested to know what you find out.

Does *anyone* else here already have this set up in their practice??

#5 (**permalink**) 03-08-2008

Did anyone ever reply concerning E & O insurance?

virtual writing · #6 (**permalink**) 03-08-2008

I'd like to know, too.

Tess · #7 (**permalink**) 03-08-2008

It looks like this isn't a common practice among the membership at this time...there is another thread that led to a conversation on insurance, here. In the meantime, perhaps this thread will be revived when someone who does carry E and O Insurance catches the conversation here

Office Goddess · #8 (**permalink**) 03-09-2008

O.k., got it! I was quoted for "professional liability insurance" (E&O) as a bookkeeper through the American Institute of Professional Bookkeepers (www.aipb.org) for an annual cost of $500. This is a 20% discount from what I was quoted through my State Farm agent. The membership fee to AIPB was only $39/year, so the savings was significant!

My quote was fairly low as I am only pt and have minimal clients at this point. The coverage has a $1k deductible/$100k maximum coverage per incident. I will be purchasing it in April.

Ask Viki! · #9 (**permalink**) 03-18-2008

This is so funny...I just talked to my insurance company about an hour ago...we discussed what my homeowners insurance would cover or not cover, a policy for my computers, printers, inks, paper, software etc. We also discussed what type of Liability Insurance I would need over and above my homeowners...they did ask alot of questions because they didn't know what a Virtual Assistant was! I guess I'd better call her back and ask her to ask the underwriter about Professional Liability Insurance!
Great question!

Viki

Prime Admin Solutions · #10 (**permalink**) 03-18-2008

I don't have E&O at this point, but the business is incorporated so I think there is some level of protection there. My husband incorporated his business (IT consulting) and I registered my business as a corporate style on his corporation.