Red Deer Professional Liability Insurance
If you offer a service or give professional advice, you’re at risk for lawsuits from clients who blame your service or advice (or failure to provide it) for a financial loss. For example, a client could say you made a mistake that cost them a lot of money and sue you. Whether the accusations are true or not, you’ll still need to pay your defense costs. Can you afford to cover an expensive lawsuit?
Professional liability insurance can help protect Red Deer professionals by helping to bear the financial burden of lawsuits relating to your professional service or advice. As trusted professional liability insurance brokers in Red Deer, Rogers Insurance can help you find the right coverage for a competitive price.
Get a professional liability insurance quote for Red Deer online, by phone, or in-person at our Red Deer office or read on to learn more about professional liability insurance in Red Deer.
What is professional liability insurance?
Red Deer’s professionals are all at risk of a lawsuit from a client who blames their professional service or advice for a financial loss. This can include claims of:
- Libel & Slander
- Inaccurate Advice
- Loss of Documents
- Intellectual Property Infringement
- Breach of Confidentiality
True or false, these accusations can harm your business’ reputation and place a huge financial burden on you. Professional liability insurance (also known as errors & omissions insurance) can help cover the expenses related to these lawsuits, including defense costs, awards, and settlements.
For example, let’s say you’re a contract project manager in Red Deer. The project is delayed and exceeds the original estimate by a large amount and your client blames you for their financial loss and sues. Professional liability insurance could help you defend yourself against these allegations and cover settlements and awards.
Who needs professional liability insurance in Red Deer?
Anyone who provides a service or professional advice in Red Deer should have professional liability insurance. Your commercial general liability insurance will not protect you if you’re sued for financial loss as a result of your provided service or advice, as it only covers property damage and injury.
We provide coverage for contractors, consultants, project managers and professionals in the following industries:
- Financial Services
- Forensic Experts
- Health, Fitness & Medical
- Legal Services
- New Media
- Social Services
If you don’t see your profession or industry, don’t worry. Our experienced Red Deer professional liability insurance brokers can discuss your options and find you coverage at a competitive price.
What does professional liability insurance cover?
Professional liability insurance can cover legal expenses arising from a claim of financial loss due to a provided professional service or advice, or failure to provide it. This can include legal defense costs, settlements and awards.
Keep in mind that you will need to pay a deductible for each claim and policy limits apply to your entire 12-month policy period. That means whatever coverage amount you choose applies for the 12-month term, not per incident.
The level of coverage you choose depends on several factors:
- Contract requirements (usually $1 or $2 million in liability coverage in Canada)
- Your industry
- Your business’ risk level
- The number and size of client contracts you have
- The type of clients you have and the industries they operate in
- The overall value of the projects your work on
- Potential legal costs of defending a claim
- The possible compensation award in a lawsuit if the claim is settled against you
A professional liability insurance broker in Red Deer can help you determine what coverage you need as well as answer any questions you might have.
How much does professional liability insurance cost in Red Deer?
The cost of professional liability insurance in Red Deer depends on your individual risk level, history, and coverage options. Factors that impact professional liability insurance premiums for Red Deer professionals include:
- Your profession/industry
- Your company’s revenue
- The number of employees you have
- Where you operate
- Your insurance and claims history
- Your coverage options
You can get an instant online professional liability insurance quote for Red Deer and see for yourself how affordable this essential coverage can be. Opt for an annual payment or pay in monthly installments.
Working with the Best Professional Liability Insurance Brokers in Red Deer
Rogers Insurance has been a trusted professional liability insurance broker in Red Deer for decades. We’re one of the largest independent, employee-owned brokerages in Canada – meaning we work for you, not an insurance company. In fact, we work with many different insurers so that we can deliver choice in coverage and competitive professional liability insurance quotes for Red Deer professionals.
Our staff is experienced, knowledgeable and professional. Here at Rogers, we believe in a hands-on, human-first approach to insurance. You can expect exceptional customer service and personable, flexible staff who will help make your insurance easier. Here’s what we can do for you:
- Help you determine your insurance needs.
- Deliver competitive professional liability insurance quotes for Red Deer.
- Advise and act as an insurance resource.
- Advocate on your behalf in the event of a claim.
- Provide 24/7 self-serve access to manage your insurance via an online portal and mobile phone app.
Come find out what makes Rogers Insurance professional liability brokers in Red Deer so fantastic. Stop by our office or give us a call. You can even purchase a policy online!
EasyCover: Online Professional Liability Insurance in Red Deer
If you prefer to do things online, EasyCover is perfect for you. In less than 10 minutes you can purchase a professional liability insurance policy for your Red Deer business (and even add on commercial general liability and cyber liability insurance). Get your Red Deer professional liability insurance quote or policy today!