The dollar amount of coverage in an Errors and Omissions Insurance policy varies widely depending on many factors, including the occupation of the insured, the annual revenue of the insured, and the potential exposure to large lawsuits from clients. Insurers will also take into account the number of employees and the company’s loss history. A common coverage amount for many businesses is $1 million per occurrence with a cap ranging from $1 million to $3 million per year, though those figures may vary widely depending on the size of the jobs that the company performs for its clients.
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