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

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

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

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

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

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??

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Did anyone ever reply concerning E & O insurance?

I'd like to know, too.

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Mary H. Ruth/Virtual Writing & Communications
http://www.writingVA.com

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

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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.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

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

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Need Help? Ask Viki!

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.

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Julia