Trade insurance
Insurance for insurance agents.
Errors & omissions is effectively mandatory for licensed agents — most carrier appointments and state arrangements require proof of E&O before you can write business.
Updated 2026-05-16 · Beaconcover editorial§ 01
Why this matters
What can go wrong on the job.
- Failure to procure coverage. Client loss because a policy wasn't bound/adequate
- Misrepresentation of coverage. Errors explaining terms or exclusions
- Administrative errors. Missed renewals, incorrect endorsements
§ 02
Required vs recommended
What contracts require, and what's worth adding.
§ 03
Typical premium ranges
What it tends to cost.
- Professional liability: $781 avg / year[Q]Insureon
Figures are reported averages, not quotes. Actual premiums vary by state, revenue, payroll, and underwriting.
§ 04
Common gaps
Where this coverage trips people up.
Carrier appointments typically require E&O proof before binding
Claims-made retroactive date must carry forward when switching E&O carriers
Life/health vs P&C lines can be rated and excluded separately
§ 05
Before you bind
Questions to ask any carrier for insurance agents.
- Does the quote include the lines listed above as typically required?
- What does a certificate of insurance cost and how fast can the carrier issue one?
- How is workers' compensation rated for this trade — by payroll or by class code?
- Is there a separate deductible for tools and equipment in transit between sites?
- If a client requires an additional-insured endorsement, is there a fee?