I met with a local State Farm agent recently about getting errors & omissions coverage for my freelance writing, blogging, and publishing services. I received notice this morning that they won't cover my business. The reason? They said their policies don't cover:
- Freelance Writers
- Web content developers
- Website managers / owners
Um... okay? We're talking about a kind of insurance that's not exactly uncommon in our industry, so to find out they won't cover any of these areas was a bit surprising. It was especially surprising given that I had been told "writer" was an option for listing the business on the policy (as was "publisher"). Very strange indeed.
Basically errors and omissions insurance is a type of professional liability insurance that would cover you if you're sued for publishing inaccurate information which caused harm to a client or other party. Obviously fact-checking is important. But there is always the risk that something will be missed or information from a normally reputable source will be incorrect. And of course, there is always the chance that you'll have to defend against a frivolous lawsuit if you piss off the wrong person or company -- especially when you start bringing in significant earnings from your blog, books, etc.
So I'd like to reach out to our readers today and ask what insurance policies you use in your business, if any? Do you have E&O coverage? Another type of policy? Does your policy cover freelance work, books and e-books, blogging, or some combination? And if you were successful in landing one of these policies (which I know exist), what company did you go with?
While I'm fine going without this kind of coverage temporarily, it's something I want in the long-term, especially as the publishing side of my business grows (both digitally and in print). So for now I'll just keep an eye out for promising policies.