When you are in the business world establishing your business whether its a company or individual, it is very necessary to know what are the items or services that are worthy of investing in. Undoubtedly you know about the various types of insurances that are in demand as a necessity. In case you have a company providing consultancy services you should know about errors and omissions insurance. The most important part of this insurance is that it safe guards you against any law suit brought upon by errors or mistakes from you. The cost per month is different for different type but then unless you can guarantee error less working, it is worth taking this insurance.