Professional services
Professional Liability Insurance Calculator
Errors and omissions premium from billings and the risk of the professional work.
Result
An estimating tool, not insurance advice and not a quote. Actual premiums are set by underwriting on factors no calculator sees: claims history, credit and loss data, exact location, construction, contract requirements and the insurer's own appetite. What cover you need is a question for a licensed broker who has looked at your situation. Professional liability covers claims arising from advice or services, including negligence and errors, where general liability does not. Most policies are claims made, meaning they respond to claims reported while the policy is live rather than to work done while it was, which makes continuous cover and tail cover important.
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About this calculator
What is claims made cover?
The policy responds to claims reported during its period, regardless of when the work was done. Letting it lapse leaves past work uncovered, which is why retroactive dates and tail cover matter.
Do I need it if I already have general liability?
They cover different things. General liability handles injury and property damage; professional liability handles the consequences of your advice or work being wrong. Neither substitutes for the other.
The formula
premium = exposure / rate basis x rate x risk multiplier, less deductible credit, plus claims loading
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Estimating is the easy part
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