If your business offers advice, consulting, or specialized services, you need more than just general liability insurance. That’s where professional liability insurance, also known as errors and omissions (E&O) insurance, comes in.

What Does It Cover?
Professional liability insurance protects your business from claims of:

Negligence (failing to deliver services as promised)

Misrepresentation (giving incorrect advice)

Inaccurate documentation

Breach of contract

For example, if a financial advisor gives incorrect investment advice that results in a client’s loss, the client can sue even if the advice was given with good intentions.

Who Needs It?
This coverage is especially vital for:

Consultants

Accountants

Architects and engineers

Real estate agents

IT professionals

Medical providers (usually under malpractice insurance)

Real-World Example
Imagine you’re a software consultant who advises a client on a new system. If that system fails, causing downtime or data loss, your client may sue for lost revenue—even if you followed best practices. That’s where E&O coverage protects your business.

Cost and Coverage
The average cost ranges from $500 to $2,500 per year depending on your industry and risk level. Coverage typically starts at $1 million per claim.

Top Insurance Providers
Hiscox: Tailored E&O policies for various industries.

The Hartford: Great for professional services.

Chubb: Offers extensive and customizable options.

What’s Not Covered?
Bodily injury and property damage

Intentional wrongdoing or fraud

Employment-related issues (use EPLI for that)

Conclusion
If your business revolves around your expertise, professional liability insurance is a critical investment. It ensures that one mistake or accusation won’t ruin your hard-earned career.

No matter the size of your business, protecting yourself against unexpected accidents or lawsuits is crucial. That’s where general liability insurance comes in. It’s often the first and most important policy any entrepreneur should consider.

What Is General Liability Insurance?
General liability insurance protects your business from third-party claims involving:

Bodily injury (e.g., a customer slipping and falling)

Property damage (e.g., breaking a client’s equipment while working)

Advertising injury (e.g., copyright infringement or defamation)

Whether you run a storefront or operate a home-based business, this type of coverage is your frontline defense against costly legal claims.

Who Needs It?
Every business that interacts with clients, customers, or the public should have general liability coverage, including:

Retail stores

Consultants

Contractors

Event planners

Freelancers and solopreneurs

Coverage Limits and Costs
General liability policies typically start at $500–$1,000 annually for small businesses. Limits often begin at $1 million per occurrence, with $2 million aggregate coverage. These numbers may sound high, but even a single lawsuit could exceed that if you’re uninsured.

What’s Not Covered
General liability insurance doesn’t cover:

Employee injuries (covered by workers’ comp)

Professional mistakes (covered by professional liability)

Property you own (covered by commercial property insurance)

Best Providers to Consider
NEXT Insurance: Affordable, easy online quotes for small businesses.

Hiscox: Great for freelancers and consultants.

Nationwide: Strong reputation with customizable plans.

Final Thoughts
General liability insurance is the foundation of any solid risk management strategy. It protects your assets, your reputation, and your future making it one of the best business insurance options available.

A local residential or commercial cleaning service is one of the most profitable small businesses you can start with minimal equipment and a few clients. The demand is consistent, especially in cities and suburban areas.

Why It’s Profitable
Low Startup Costs: Cleaning supplies, a vacuum, and transport are your main needs.

Steady Demand: Homes, offices, and rental properties always need cleaning.

Repeat Business: Weekly or bi-weekly services build a reliable income stream.

Service Ideas
House cleaning (standard and deep)

Move-in/move-out cleaning

Office cleaning

Airbnb or vacation rental turnover services

How to Start
Register Your Business: Check local licensing and insurance requirements.

Buy Basic Supplies: Use eco-friendly products to stand out.

Set Clear Packages: Offer flat-rate or hourly options.

Find First Clients: Use Facebook groups, community boards, and referrals.

Growth Tips
Offer discounts for recurring bookings

Partner with realtors or property managers

Build a small team as demand grows

It’s a business you can start on weekends and scale into a full-time income source.