Cheap Errors and Omissions Insurance

Our research found that the following companies offer the cheapest errors and omissions insurance coverage:

1. The Hartford: On average The Hartford is the cheapest E&O insurance company overall at $40/mo or $481/yr on average which saves most small businesses 32% . They are the most affordable for finance and consulting professionals where savings can reach up to 46% and is within the top two cheap providers for most other industries.
2. Hiscox: With savings of 21% on average, Hiscox has great value for most businesses needing errors and omissions insurance, finishing within the top two or three most affordable providers for many areas and professions.
3. ERGO NEXT: Rounding out the third-place spot on our list, ERGO NEXT is the last provider to offer 20% or higher in errors and omissions savings on average, excelling as the most affordable provider for those in arts and media professions.

Since errors and omissions insurance is a synonym for professional liability insurance, we limited our analysis to industries that use this term most often when referring to this type of coverage. So, we only included industries in the media, marketing, consulting, finance, tech and real estate sectors in our analysis.

Below you can compare how each of our cheapest E&O companies compare to one another on average below within these industry areas.

At the general industry level, The Hartford still dominates as the cheapest errors and omissions insurance provider in five of six of the general industry areas we studied using the terminology. ERGO NEXT follows as the only competitor at this level as the most affordable insurer for those in the arts, media and entertainment space.

If you'd like to dig deeper into cheap E&O insurance by industry, we've left dedicated resources below.

At the state level, The Hartford is the most affordable errors and omissions insurance provider in 30 states with rates starting at $31 a month in its lowest cost area. ERGO NEXT is a runner-up for the lowest rates for the coverage type for the rest of the United States, particularly those in the southern and midwest regions.

If you want to have a deeper look at cheap errors and omissions providers at the state level, we have location level guides below.

MoneyGeek can provide you with cheap E&O insurance quotes through our partners by matching you to the right fit based on your industry and state. Use our tool below to find your best and most cost-effective errors and omissions policy provider and get tailored quotes.

E&O insurance doesn't have to break your budget. Our study found The Hartford most affordable at $40 monthly, though your actual rate depends on your industry and coverage needs. To maximize your savings, shop smart by comparing multiple insurers, considering higher deductibles and bundling policies.

To identify the cheapest errors and omissions insurers, we analyzed real pricing data from 10 major providers and modeled a large set of standardized pricing estimates across common U.S. small business professional service profiles. 

Dataset Scope And Assumptions

• Providers analyzed: 10 major E&O insurance providers
• Industries covered: 53 professional and service-based industries that use E&O rather than professional liability terminology most commonly
• Geography: all U.S. states and territories (including Washington, D.C.)
• Employee count bands: 0, 1–4, 5–9, 10–19 and 20–49 employees (95% of market)
• Policy baseline: standard $1 million per claim / $1 million aggregate E&O policy
• Pricing estimates modeled: just over 1 million total estimates

We also incorporated modeled average revenues and payrolls across professional service business profiles to improve pricing accuracy. 

How We Determined Which Provider Was “Cheapest”

We used this dataset to determine which insurers were most often the lowest-cost option across different professional service business profiles.

Our “cheapest” rankings include both:

• General Recommendation: Provider rankings based on average estimated pricing for a standardized 1–4 employee professional service business across all industries and states in our dataset.
• Factor Combination Recommendations: Provider rankings based on which insurer was most often cheapest within specific business factor combinations. For example:
  • Industry × State: pricing was compared using a standardized 1–4 employee professional service profile
  • Employee count: affordability was derived by comparing aggregated pricing trends across industries and states

Important Note: These results represent standardized pricing estimates, not personalized quotes. Actual pricing can vary based on your profession, services provided, revenue, claims history, contract requirements and the specific limits, deductibles and retroactive dates you choose. For the most accurate cheapest-provider answer, we recommend comparing quotes apples-to-apples using the same coverage limits and retroactive date.