Professional Liability Insurance Coquitlam
Affordable, fast, and essential—errors and omissions insurance in Coquitlam safeguards you from costly legal action for service-related claims.
Comprehensive errors and omissions insurance in Coquitlam
Although Coquitlam has been considered something of a “bedroom community,” with many professionals commuting to work in Vancouver and other Metro Vancouver suburbs, Coquitlam is home to some major employers.
You might imagine that any professional living in Coquitlam would want to preserve their business and its longevity for many years to come. Professional liability insurance in Coquitlam, British Columbia is designed specifically to protect professionals who deal in the exchange of professional advice or services for monetary compensation. As a result of the sensitive nature of the advice or services they offer, there is always the potential that an oversight or accident could occur, or a client could perceive one to have occurred. Protect your business and its financial future. Read on for more information or start your own quote today.
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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
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- Purchase and manage your policy online
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- Option to bundle with other coverages
Understanding professional liability insurance in Coquitlam, BC
What is professional liability insurance?
Professional liability insurance can go by many different names, including errors and omissions insurance (E&O) or even professional indemnity insurance (which is often used for lawyers). Having a professional liability insurance policy in Coquitlam, BC can help with the financial burden of legal fees and other damages resulting from court proceedings.
If a client or third party sues you because your advice or opinion led to their financial loss, professional liability insurance covers you for:
- Legal costs and expenses to defend yourself
- Settlements, judgements and awards
Coquitlam professional liability insurance coverage limits
EasyCover by Acera Insurance provides clients with three choices of coverage for professional liability insurance policies:
- $1 million
- $2 million
- $5 million
These levels are the total amount you will receive for professional liability claims in Coquitlam over a 12-month period, regardless of the number of claims you experience during this period.
What is the difference between professional liability insurance and general liability insurance in Coquitlam?
As mentioned, professional liability insurance is a type of insurance policy that can protect you if you were to be taken to court for any professional advice or services you have given.
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.
Always keep in mind that where commercial general liability insurance and professional liability insurance may cover third-party liability claims, they do not cover claims of the same nature. These policies do not replace each other; rather, they complement each other, so both are highly recommended so that you may be fully insured against potential claims.
If you have questions about selecting the right type of liability coverage, our team is here for you! Contact us at info@easycover.ca or 1.844.439.2683.
Offering E&O insurance to Coquitlam, BC businesses and professionals
Whether you are a wedding photographer or as a tax accountant, if your work involves providing a service or offering advice you should consider professional liability insurance. Coquitlam, British Columbia professionals can enjoy peace of mind and longevity with the right insurance package. EasyCover by Acera is more than happy to offer affordable professional liability insurance in Canada and extends its services to the following occupations and industries:
- Construction contractors
- Consultants
- Engineering contractors
- Finance professionals
- Forensic experts
- IT contractors
- Legal professionals
- Managers
- New media
- Photographers
- Social services
- … and more!
Any professional or business may benefit from the purchase of professional liability insurance in British Columbia – also known as errors and omissions or “E&O” insurance. Regardless of how large or small your business might be, or how long it has been around, professional liability insurance for Coquitlam, BC professionals is critical to ensuring your business is protected if a claim is ever made against it alleging mistakes, oversights, delays, or other losses.
What situations could lead to a professional liability claim in Coquitlam?
You may expect a standard professional liability insurance policy to protect your business if you should ever be faced with third-party claims due to the following:
Breach of contract/ethical duties
Professional negligence
Failing to meet a deadline
Breach of ethical duties or contract
Failure to provide a promised service/advice
Mistakes or errors when providing a service
The cost of professional liability insurance in Coquitlam, British Columbia
There is no one cost for professional liability insurance in Coquitlam, BC. Every professional may pay a different number for their coverage, depending on the level of coverage they desire, the industry they work in, and numerous other factors. Every insurer may offer different price points as well.
There is quite a range among professional liability insurance policies, especially since every different business and each different industry tends to see a different level of risk. As a rule of thumb, the riskier the business and/or industry, the more expensive your premiums might be.
Although each professional liability insurance policy is different, you may expect the list of factors below to affect the total cost of your coverage:
- The location of the business
- The type of business covered
- Previous claims or “insurance history”
- Business experience
- Size of business
- The value of the service/advice being provided
- Coverage options and limits
EasyCover by Acera Insurance: Direct professional liability insurance for your needs
If you offer professional services or advice to your clients and are sued as a result of alleged or actual negligence, your standard commercial general liability policy may not respond. With EasyCover’s comprehensive and affordable professional liability insurance, you have protection against a broad array of negligent acts, errors or omissions, and we’re backed by one of the oldest and most respected insurance providers in the world.
While our specialty is in professional liability insurance, EasyCover offers multiple forms of liability coverage as well, including commercial general liability, contractor liability, cyber liability, and directors & officers liability to fully protect your business against all kinds of risks.
Get a quote today or call one of our experienced brokers at 1.844.439.2683 to discuss your policy rates.
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