The Hartford gives you the best deal on E&O insurance at $72 monthly ($864 annually). NEXT Insurance ties for the lowest rate, and Progressive Commercial charges $75 per month.
Cheap Errors and Omissions Insurance
Updated: July 16, 2025
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Key Takeaways
The Hartford, NEXT Insurance and Progressive Commercial offer the cheapest errors and omissions insurance for small businesses across industries.
Your E&O premium depends on your industry, business size, coverage limits and claims history, with higher-risk professions paying more.
Cut errors and omissions costs by comparing multiple insurers, choosing higher deductibles, bundling policies and maintaining a clean claims record.
Cheap Errors and Omissions Insurance Companies
| The Hartford | $72 |
| NEXT Insurance | $72 |
| Progressive Commercial | $75 |
| Thimble | $76 |
| Simply Business | $76 |
| Hiscox | $77 |
| Coverdash | $78 |
| biBERK | $79 |
| Nationwide | $82 |
| Chubb | $89 |
How did we determine these rates?
MoneyGeek analyzed rates from 10 insurance providers for small businesses with two employees across 79 major industries, focusing solely on errors and omissions policies.
Cheap Errors and Omissions Insurance Companies by Industry
The Hartford offers the lowest cheap E&O insurance rates across the 71 industries we analyzed, including high-risk professions like accountants, lawyers, real estate agents and consultants. Coverdash and Chubb each secured the cheapest rates for two industries.
| Accountants | The Hartford | $130 |
| Ad Agency | Nationwide | $47 |
| Auto Repair | The Hartford | $74 |
| Automotive | The Hartford | $67 |
| Bakery | The Hartford | $47 |
| Barber | The Hartford | $38 |
| Beauty Salon | The Hartford | $44 |
| Bounce House | The Hartford | $53 |
| Candle | The Hartford | $37 |
| Cannabis | The Hartford | $110 |
| Catering | The Hartford | $71 |
| Cleaning | The Hartford | $49 |
| Coffee Shop | The Hartford | $55 |
| Computer Programming | The Hartford | $94 |
| Computer Repair | The Hartford | $56 |
| Construction | Coverdash | $41 |
| Consulting | The Hartford | $96 |
| Contractor | The Hartford | $45 |
| Courier | Chubb | $34 |
| DJ | The Hartford | $41 |
| Daycare | The Hartford | $96 |
| Dental | Thimble | $62 |
| Dog Grooming | The Hartford | $49 |
| Drone | The Hartford | $95 |
| Ecommerce | The Hartford | $55 |
| Electrical | Simply Business | $42 |
| Engineering | Coverdash | $72 |
| Excavation | The Hartford | $61 |
| Florist | The Hartford | $34 |
| Food | NEXT Insurance | $26 |
| Food Truck | The Hartford | $52 |
| Funeral Home | The Hartford | $73 |
| Gardening | The Hartford | $36 |
| HVAC | The Hartford | $73 |
| Handyman | The Hartford | $48 |
| Home-based business | The Hartford | $33 |
| Hospitality | The Hartford | $65 |
| Janitorial | The Hartford | $44 |
| Jewelry | The Hartford | $55 |
| Junk Removal | The Hartford | $60 |
| Lawn/Landscaping | The Hartford | $46 |
| Lawyers | The Hartford | $130 |
| Manufacturing | The Hartford | $53 |
| Marine | The Hartford | $78 |
| Massage | The Hartford | $94 |
| Mortgage Broker | The Hartford | $149 |
| Moving | The Hartford | $73 |
| Nonprofit | The Hartford | $45 |
| Painting | The Hartford | $57 |
| Party Rental | The Hartford | $49 |
| Personal Training | The Hartford | $63 |
| Pest Control | The Hartford | $85 |
| Pet | The Hartford | $41 |
| Pharmacy | Chubb | $46 |
| Photography | The Hartford | $57 |
| Physical Therapy | The Hartford | $84 |
| Plumbing | The Hartford | $80 |
| Pressure Washing | The Hartford | $51 |
| Real Estate | The Hartford | $113 |
| Restaurant | The Hartford | $73 |
| Retail | The Hartford | $49 |
| Roofing | The Hartford | $87 |
| Security | The Hartford | $89 |
| Snack Bars | The Hartford | $43 |
| Software | The Hartford | $85 |
| Spa/Wellness | The Hartford | $98 |
| Speech Therapist | The Hartford | $88 |
| Startup | The Hartford | $64 |
| Tech/IT | The Hartford | $88 |
| Transportation | The Hartford | $85 |
| Travel | The Hartford | $87 |
| Tree Service | The Hartford | $68 |
| Trucking | The Hartford | $99 |
| Tutoring | The Hartford | $54 |
| Veterinary | The Hartford | $103 |
| Wedding Planning | The Hartford | $68 |
| Welding | The Hartford | $68 |
| Wholesale | The Hartford | $55 |
| Window Cleaning | The Hartford | $56 |
How did we determine these rates?
MoneyGeek analyzed rates from 10 insurance providers for small businesses with two employees across 79 major industries, focusing solely on errors and omissions policies.
Cheap Errors and Omissions Insurance Companies by State
Based on our research, The Hartford has the cheapest errors and omissions insurance in 39 states. NEXT Insurance comes next, taking the lead in 11 states.
| Alabama | The Hartford | $70 |
| Alaska | NEXT Insurance | $67 |
| Arizona | NEXT Insurance | $66 |
| Arkansas | The Hartford | $68 |
| California | The Hartford | $80 |
| Colorado | NEXT Insurance | $70 |
| Connecticut | The Hartford | $78 |
| Delaware | NEXT Insurance | $75 |
| Florida | The Hartford | $78 |
| Georgia | The Hartford | $73 |
| Hawaii | NEXT Insurance | $77 |
| Idaho | NEXT Insurance | $67 |
| Illinois | The Hartford | $78 |
| Indiana | The Hartford | $69 |
| Iowa | The Hartford | $68 |
| Kansas | The Hartford | $69 |
| Kentucky | The Hartford | $66 |
| Louisiana | The Hartford | $83 |
| Maine | NEXT Insurance | $63 |
| Maryland | The Hartford | $68 |
| Massachusetts | The Hartford | $75 |
| Michigan | The Hartford | $67 |
| Minnesota | The Hartford | $67 |
| Mississippi | The Hartford | $71 |
| Missouri | The Hartford | $71 |
| Montana | The Hartford | $70 |
| Nebraska | The Hartford | $68 |
| Nevada | NEXT Insurance | $80 |
| New Hampshire | The Hartford | $71 |
| New Jersey | The Hartford | $81 |
| New Mexico | The Hartford | $72 |
| New York | NEXT Insurance | $82 |
| North Carolina | The Hartford | $62 |
| North Dakota | NEXT Insurance | $63 |
| Ohio | The Hartford | $66 |
| Oklahoma | The Hartford | $67 |
| Oregon | The Hartford | $66 |
| Pennsylvania | The Hartford | $83 |
| Rhode Island | The Hartford | $78 |
| South Carolina | The Hartford | $73 |
| South Dakota | The Hartford | $67 |
| Tennessee | The Hartford | $69 |
| Texas | The Hartford | $72 |
| Utah | NEXT Insurance | $67 |
| Vermont | The Hartford | $69 |
| Virginia | The Hartford | $65 |
| Washington | The Hartford | $81 |
| West Virginia | The Hartford | $76 |
| Wisconsin | The Hartford | $70 |
| Wyoming | The Hartford | $66 |
How did we determine these rates?
MoneyGeek analyzed rates from 10 insurance providers for small businesses with two employees across 79 major industries, focusing solely on errors and omissions policies.
How to Get Cheap Errors and Omissions Insurance
Getting cheap errors and omissions insurance doesn't mean settling for weak coverage. Cut your E&O insurance costs by doing these:
- 1
Figure out how much coverage you actually need.
Look at your annual revenue, typical client contracts, and what kind of lawsuits you might face. Most small business owners buy way more coverage than they'll ever use.
- 2
Look for insurers that know your industry.
Some carriers specialize in specific professions like consulting or real estate. These often beat general insurers on price because they understand your risks better.
- 3
Compare quotes from multiple insurers.
Shopping around can save you substantial money on E&O coverage. Our analysis shows choosing The Hartford over Chubb could save you $17 monthly or over $200 annually. That's money back in your pocket for the same coverage.
- 4
Choose higher deductibles.
Raising your deductible usually reduces your monthly premium. For example, increasing from $1,000 to $5,000 might lower your costs, though you'll pay more out-of-pocket if you file a claim.
- 5
Bundle your insurance policies together.
Most insurers will cut you a deal when you buy E&O alongside general liability or other types of business insurance. The more policies you bundle, the more you save.
- 6
Keep your claims record spotless.
Companies love businesses that don't file claims. Stay claim-free by rechecking your work, setting clear expectations with clients and documenting everything. It'll pay off when renewal time comes around.
Following these steps helps you get business insurance that fits your budget without compromising essential protection for your company.
Cheapest Errors and Omissions Insurance: Bottom Line
E&O insurance doesn't have to break your budget. Our study found The Hartford most affordable at $72 monthly, though your actual rate depends on your industry and coverage needs. To maximize your savings, shop smart. That means comparing multiple insurers, considering higher deductibles and bundling policies.
Low Cost Errors and Omissions Insurance: FAQ
What is the cheapest errors and omissions insurance?
The Hartford offers the cheapest errors and omissions insurance for small businesses at $72 per month. It also has the lowest rates for 71 of 79 industries in our study. NEXT Insurance follows at almost the same rate, while Progressive Commercial costs $75 monthly.
How much does cheap errors and omissions insurance cost?
E&O insurance costs vary, but our research shows most small businesses pay between $72 and $89 monthly for affordable E&O insurance. Your premium depends on your preferred coverage limits, industry and business size.
What industries need errors and omissions insurance?
Accountants, lawyers, real estate agents, consultants, contractors, architects and financial advisors face the highest risk and should prioritize this coverage.
How can I get cheaper errors and omissions insurance?
You can get cheaper professional liability insurance by comparing multiple insurers, choosing higher deductibles and bundling policies. Before all this, ensure you know how much coverage you need.
What does errors and omissions insurance cover?
Errors and omissions insurance gives you financial protection against missed deadlines, incorrect advice, data breaches and professional standard failures. It covers legal defense costs, settlements and judgments from client lawsuits. Think of it as your financial shield against professional mistakes.
How much E&O coverage do I need?
Choosing coverage amounts feels tricky, but the right amount depends on your specific business needs. Consider your annual revenue, typical client contracts and potential lawsuit costs. Most small business owners buy way more coverage than they'll ever use, driving up costs unnecessarily.
Is errors and omissions insurance worth the cost?
Yes, E&O insurance is worth the cost for service businesses. At just $72 monthly, it provides financial protection against client lawsuits that can cost thousands in legal fees. That’s usually worth the extra monthly cost.
What's the difference between E&O and general liability insurance?
The difference lies in what they cover. Errors and omissions insurance covers professional mistakes and advice, while general liability covers physical accidents and property damage. E&O protects against claims like bad financial advice, while general liability covers situations like clients slipping in your office.
Do I need errors and omissions insurance if I'm a sole proprietor?
Yes, sole proprietors often need this business insurance more than larger companies. You’ve no corporate structure protecting personal assets from professional liability claims, so a single client lawsuit could target your home, savings and other personal property. That makes coverage especially critical for solo entrepreneurs.
What happens if I don't have errors and omissions insurance?
Without errors and omissions insurance, you're personally responsible for all legal costs and damages from professional liability claims. It includes attorney fees, court costs, settlements and judgments. Even winning a lawsuit can cost thousands in legal expenses.
How We Determined Cheap Errors and Omissions Insurance Rates
You need E&O coverage, but you don't want to blow your budget on premiums. We tested which insurers actually deliver cheap rates without skimping on protection.
How We Tested E&O Insurance Costs
We called 10 major insurers and requested quotes using the exact same business profile. Every quote used the same profile:
- Solo practitioner or small firm (one to two employees total)
- $75,000 annual revenue
- Clean claims history (no prior E&O claims)
- $1 million per occurrence/$1 million aggregate coverage limits
It represents the most common scenario for professionals shopping for budget-friendly E&O coverage. We chose companies offering online quotes and competitive pricing for smaller businesses.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.