Professional Liability Insurance for Ottawa Construction Professionals
Construction professionals in Ottawa face liability risks from project delays, cost overruns, or planning oversights. E&O insurance helps protect your business from claims tied to professional services and advice.
Errors and omissions insurance for construction professionals in Ottawa
As a construction contractor in Ottawa, you take great care in providing design or management-based expertise—but sometimes projects do not go as planned. Fortunately, professional liability insurance can help protect your business and reputation when things go awry.
This form of coverage caters to professionals who make a career out of providing professional advice or services, including construction contractors in Ottawa. Specifically, professional liability insurance can cover legal defence costs should a client claim to have suffered financial damages due to an error or omission in your work (which is why this coverage is sometimes called errors and omissions), or because you acted in a negligent manner.
Don’t put your construction contracting business at risk. Get your construction professional liability insurance coverage today.
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
Construction professional or contractor liability insurance in Ottawa
Construction professional (or contractor) liability insurance gives you peace of mind that if you were taken to court for claims over errors that happened under your leadership, you would be covered for any financial damages or costs associated with defending the claim. Standard commercial general liability or construction/builders risk insurance policies will not provide you this coverage.
What sort of protection does professional liability insurance provide construction contractors in Ottawa?
Professional liability insurance offers construction contractors in Ottawa protection from unexpected legal expenses. You may have other business insurance; however, typically only professional liability insurance offers protection should you be sued because the advice or service you provided resulted in financial damages for your client.
You must defend yourself against claims of negligence or mistakes—regardless of if you’re in the wrong or not—and legal expenses quickly add up. Without the right coverage, you will have to pay for such costs out of pocket. That’s why it’s important for construction contractors in Ottawa to consider professional liability insurance.
Professional liability protection for Ottawa construction contractors
Professional liability insurance can protect construction contractors in Ottawa from shouldering the high costs of lawsuits. This could include:
- Defence fees
- Wages lost due to court attendance
- Settlements
- Judgement awards
Is professional liability insurance mandatory for construction contractors in Ottawa?
While the government does not mandate professional liability insurance for all professionals, as it does automobile liability coverage, your client may require you to have it.
By carrying professional liability insurance, construction consultants in Ottawa are showing clients they’re financially prepared to remedy any unexpected expenses resulting from their professional advice or service.
E&O insurance for construction professionals in Ottawa
EasyCover by Acera Insurance provides professional liability insurance to the following construction professionals in Ottawa:
- Architectural technologists
- Contracts managers
- Document controllers
- Electrical engineers
- Fire and safety auditors
- Health and safety consultants
- Maintenance managers
- Operations managers
- Planning engineers
- Project managers
- Site engineers
- Technical engineers
If you don’t see your occupation listed, please contact us. One of our brokers will be happy to discuss your options and help find you coverage.
Common construction professional (or contractor) liability insurance claims in Ottawa
A client may choose to sue a construction contractor in Ottawa to recover any financial damages resulting from the professional advice or service they received.
Project delays
The project deadline is not met by you and/or your subcontractor, as previously agreed.
Expenses to fix mistakes
A mistake made by an employee, such as improper installation of an item, requires costs to correct.
Cost overruns
The project exceeded the initial budget, regardless of the underlying cause.
How much are professional liability premiums for construction contractors in Ottawa?
There are several factors that will determine the professional liability rate of a construction contractor in Ottawa, including:
- Your occupation. The construction contracting field is diverse. We provide professional liability insurance to a variety of construction-focused technologists, engineers, managers and more.
- The number of people on the policy. EasyCover offers construction contractors in Ottawa with an option to get a policy just for themselves or for a small company that employs up to five individuals. For larger companies employing more people, you can get covered with the help of an Acera construction insurance expert.
- Your annual revenue. Construction contractors in Ottawa who earn any amount, up to $2 million per year, can get professional liability insurance from EasyCover.
- Your coverage level. Through our online EasyCover tool, you can choose from three limits: $1 million, $2 million and $5 million. The limit you choose will be the total amount paid out for all approved claims during your policy year.
Your insurance and claims history would also be factored into your annual premium.
With EasyCover by Acera Insurance, professional liability insurance premiums for construction contractors in Ottawa could start as low as $700 per policy for basic coverage.
Optional commercial coverages for construction consultants in Ottawa
Besides offering professional liability insurance, we can also provide a few additional protections for Ottawa’s construction contractors.
Commercial General Liability Insurance (CGL)
Commercial general liability insurance (CGL) is the most basic form of liability insurance. It offers protection in the event that you or any of your employees accidentally injure a third party or cause damage to their property while carrying out business operations. This includes any injuries or damages that occur on your premises or on a client’s property.
CGL insurance is considered a critical coverage option and if you have professional liability insurance but leave CGL out, you may leave your business vulnerable. We start CGL coverage at $1 million but you can choose higher limits if desired or required.
Keep in mind that this doesn’t cover damage or loss of your own tools, equipment and other property.
Directors and Officers Liability Insurance
Directors and officers can be held personally responsible for their actions while serving on a board of directors if they have acted outside the law or failed to perform their duties properly. Directors and officers liability insurance (D&O) is designed to offer protection for directors and officers, covering legal expenses from claims brought by regulatory bodies, suppliers and vendors, employees, creditors, and customers.
Criminal penalties or offences will not be covered as this type of loss is not insurable by law
Cyber Liability Insurance
Cyber liability insurance is designed to help cover certain costs following an alleged or actual hacking event or privacy breach. EasyCover’s cyber liability coverage includes network security liability and privacy liability. It may help cover the cost of network security and privacy breach costs, business income interruption losses, defence costs, extortion fees, digital asset losses, and regulatory fines.
Every policy has a specified limit, so be sure to familiarize yourself with yours and note any exclusions or separate deductibles.
Why choose EasyCover for your consultants’ professional liability insurance in Ottawa?
Construction contractors in Ottawa can quickly get competitive and comprehensive professional liability insurance from EasyCover. Our unique online platform makes it easy to get your free quote and purchase your policy. The entire process takes just a couple of minutes and is completed online—there’s no need to pick up the phone to speak with a broker.
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