A liquid crystal panel of a liquid crystal device as an electro-optic device includes a recessed portion provided in a pixel in a base substrate, a scanning line as a first light-shielding layer and a data line as a second light-shielding layer provided on the base substrate, the scanning line and the data line being disposed sequentially from a base substrate side in a thickness direction of the base substrate with a space between the scanning line and the data line, in a thickness direction of the base substrate, a transistor provided between the scanning line and the data line, a first insulation layer covering the data line, and disposed along the recessed portion, and a second insulation layer being in contact with the first insulation layer, and having a refractive index n2 that is higher than a refractive index n1 of the first insulation layer.