Professional Liability Insurance Burnaby
Even the most experienced professionals can be sued. Burnaby E&O insurance helps protect your business from legal claims due to your professional advice or services.
Affordable errors and omissions insurance in Burnaby
Burnaby, BC is home to numerous major tech companies, film studios and technology research facilities. It’s no wonder nearly 250,000 Canadians choose to call Burnaby their home. As for the professionals living here, they need a way to preserve their livelihood against the risk of liability claims.
No matter how good you are at your job, having professional liability insurance can protect your business from unexpected financial losses that you could face because of an oversight, professional negligence, a missed deadline, or simply an unfounded claim that your client perceived to be your fault. Either way, your business could be faced with some hefty legal fees. Acera Insurance has the solution and specializes in professional liability insurance in Burnaby, British Columbia.
Interested in purchasing your professional liability online in minutes?
Acera Insurance offers EasyCover where you can get a quote, bind your policy and pay online in only a few short minutes. Get comprehensive coverage and affordable rates quickly and easily.
Here are some of the benefits of EasyCover:
- Get free online quotes 24/7
- No long, confusing applications to fill out
- Purchase and manage your policy online
- Support by phone, email or chat
- Option to bundle with other coverages
The importance of finding the best E&O insurance in Burnaby
What can professional liability insurance in Burnaby cover?
Professional liability insurance in Burnaby, British Columbia safeguards professionals for claims made against them for financial loss arising from professional negligence and other professional wrongful acts.
With these claims, standard professional liability insurance in Burnaby, BC may cover legal expenses, legal fees, administrative costs, judgement awards, settlement fees, and more, whether your business is found at-fault or not.
Burnaby professional liability insurance coverage options
When you purchase your E&O insurance through our EasyCover program, you can choose between three different coverage levels for your Burnaby professional liability insurance policy:
- $1 million
- $2 million
- $5 million
As a reminder, these levels are the maximum amount you will receive for professional liability claims over a 12-month period, no matter the number of claims you have during this period.
How is professional liability in Burnaby different than commercial general liability?
A commercial general liability policy also covers third-party liability claims, and will typically only cover claims alleging bodily injury and property damage due to daily business operations, and excludes financial loss.
Professional liability insurance will not cover employee injuries, bodily injury, business property damage, or other losses that may be covered by other types of insurance policies.
Since commercial general liability and professional liability insurance do not cover the same things, both may be needed to compliment (but not replace) one another to fully insure your professional business.
Offering professional liability to Burnaby, BC professionals and businesses
We are proud to help protect Burnaby professionals with affordable, easily accessible professional liability insurance (also known as errors and omissions insurance). We offer our coverage for different industries and professions, including:
- Construction Contractors
- Consultants
- Engineering Contractors
- Finance Professionals
- Forensic Experts
- IT/Computer Contractors
- Legal Professionals
- Managers
- New Media
- Photographers
- Social Service
Whether you work as a consultant, a computer programmer, or a wedding photographer, you offer professional service/advice that your clients value greatly. At the same time, due to your clients’ reliance on this service or advice, there is always the risk that something could go wrong, and your client could sue you for a perceived error. If a claim is filed against you, your business may be left vulnerable to the various legal costs, settlement fees, and judgement awards that could ensue – unless you have professional liability insurance. Burnaby professionals may or may not be legally required to carry this coverage, depending on their industry and contractual arrangements, but it benefits both large and small-sized businesses.
What situations could lead to a professional liability claim in Burnaby?
Coverage may vary, but you’ll find most policies will cover your business if it should ever be faced with third-party claims alleging the following:
Professional negligence
Breach of contract/ethical duties
Not meeting a specific standard of care
Mistakes or errors when providing a service
Not making an agreed upon deadline
The cost of professional liability insurance in Burnaby, BC
There is no one standard cost for professional liability insurance in Burnaby. Your rates will depend on the type of coverage you’re looking for, the area you operate in, your field of expertise, the size of your business, policy limits, past claims, and more.
When your policy is being underwritten, the following factors may be used to gauge your risk:
- The location of the business
- The type of professional services offered
- Previous claims
- Business experience
- Size of the business
- The value of the service/advice being provided
- Coverage options and limits
As always, getting a quote is your best bet at getting the most accurate assessment of your total costs. EasyCover offers a free quoting tool which you can use to purchase insurance directly, without the need to ever speak to a broker.
Direct professional liability insurance
Being 100% underwritten by one of the world’s most trusted insurance and reinsurance markets, Lloyd’s of London, EasyCover prides itself as a specialist in professional liability insurance and can offer its clients some of the most comprehensive and competitive policies in the country.
We believe getting insurance should be an easy process. It’s our duty to remove the complexities for professional liability insurance, so that your Burnaby business can succeed. It doesn’t matter whether your specialty is in consulting, information technology or human resources – we insure various professions and offer one of Canada’s only online portals where you can purchase insurance directly.
Obtain your own free quote today. You can even bundle your E&O insurance with other liability coverages including commercial general liability insurance, cyber liability insurance, and directors and officers insurance.
Ready to get your free Burnaby professional liability insurance quote?
Simple answer a few questions to immediately receive a quote, bind your policy and pay online in only a few short minutes.