Regardless if you’re a captive agent or a self-employed contractor, every insurance agent must have an error omission insurance policy. While most company agents hold a coverage of professional liability required by the insurance carrier they are being contracted, there are also certain insurance agencies that don’t extend the same benefit to their insurance agents. The truth is that it is essential to guard both you and your clients’ best interests regardless of your contract conditions. In that way, significant financial losses, which might result from advising the wrong kind of policy, are prevented. So while helping your clients in keeping their financial security, you must also protect yours. If you don’t have a little foresight, you may end up making expensive mistakes.