Most small business owners 51 pay between 500 and 1000 per year for their EO policy and 18 pay less than 500.

What does e&o insurance cost. The average annual cost of 1000000 worth of coverage typically falls between 5000 and 10000 for companies with revenue below 50 million a year. Based on the quotes we got from the 2 companies that we recommended above the real estate EO insurance cost is in the range of 30-60 a month. So if your business has 50 employees you can estimate your errors and omissions premium to be between 25000 and 50000 per year.

This is only an estimate. Errors and omissions EO insurance coverage provides protection for business owners and employees against clients who make accusations stating that your business cost them money. The amount is usually specified in the policy terms.

So while average figures an easy reference your particular scenario will significantly impact the cost. By getting EO insurance you save a lot of money in the case that your business is sued. But what exactly is the EO Insurance cost how much does it cost and what.

Now lets take a look at some sample EO insurance policy prices. 80 per month may not sound like an enticing investment but according to the Small Business Administration 53 of small businesses are involved in at least one lawsuit at any given time. Average costs for EO coverage are usually 500 to 1000 per employee per year.

Some policies cost under 500 while others easily surpass 10000. Errors and omissions insurance typically covers costs up to a predetermined dollar amount. According to Trusted Choice most small businesses will pay between 1000 to 3000 in annual premiums per 1 million worth of EO coverage.

In general the median cost for EO insurance for realtors is about 55 a month. The short answer is no and in fact the policy is sometimes described as Errors and Omissions Insurance also known as the Errors and Trip Insurance because you cannot be insured against these things. However as you can see from the chart below 55 of small-business owners who buy an of Errors Omissions Insurance policy through BizInsure pay less than 600 per year.