What is E&O insurance really for? Why get that type of insurance? What good does it do me if I already have general liability insurance? Is it the same as general liability? These are all good questions, but the last one is a scary one. I you are a small business owner, and you do not have general liability small business insurance you need to fix that before quick. You should stop reading this and find a good insurance agent and get that fixed extra fast. A business without a general liability policy is like a house without a roof. You are just sitting there, unprotected, waiting on the sky to rain down on you. What are you going to do when, not if, something happens? It is just silly to sit around without general liability. After general liability, you should really think hard about getting errors and omissions insurance. It is the same in most states as professional liability insurance, and is a special policy set up to deal with a specific risk. If you have a risk or liability or loss that is of a “purely economic nature”, then it is for you. A good insurance agent will be able to sit you down, learn about your business, and tell you if you are a good candidate for errors and omissions insurance. Does an apartment owner need apartment owners insurance or just regular liability insurance? These are the kinds of tips that a quality insurance agent will be able to help you with when you talk with them. I highly recommend, tho, that you look into it very soon. You never know when something is going to happen, and you will be left high and dry.