Professional Liability Insurance in Vancouver
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As a business owner, consultant or contractor working in Vancouver, having the right kind of insurance coverage is critical. You or your employer may already have a Commercial General Liability insurance policy, but it may not protect you in all cases if you are involved in a lawsuit. If you offer professional advice or opinions, having a professional liability insurance policy will protect you if you are sued for financial damages from your advice or services.
Vancouver is full of exciting professional opportunities, make sure you’re covered so that you can focus on what matters most.
What is Professional Liability Insurance in Vancouver?
Professional liability insurance ( error and Omission ) 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. Having a professional liability insurance policy in Vancouver 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 in Vancouver covers you for:
- Legal costs and expenses to defend yourself
- Settlements, judgements and awards
Learn more about professional liability insurance and why you should protect yourself and your business in Vancouver from the unexpected.
How Much Is Professional Liability Insurance in Vancouver?
The cost of professional liability insurance in Vancouver is dependent on your specific profession and various other factors, including your revenues.
While professional liability insurance costs can vary widely based on factors like industry, coverage limits, and business size, in Vancouver, small businesses might expect to pay anywhere from $500 to $2,000 annually for coverage. However, this is just a rough estimate, and actual costs can be higher or lower depending on individual circumstances. For more accurate pricing, it’s advisable to request quotes from insurance providers that specialize in professional liability coverage.
Get a quote today or call one of our experienced brokers at 1.844.439.2683 to discuss your policy rates.
What affects Professional Liability Insurance rates in Vancouver?
There are many factors that affect professional liability insurance rates in Vancouver, including:
- The industry you are in
- Your business’ annual revenue
- The size of your business
- Number of employees
- Where your business operates
- Your coverage options
- … and more
If you have questions or concerns about your policy rates in Vancouver, contact our knowledgeable brokers at 1.844.439.2683 or at [email protected].
Professions covered by EasyCover in Vancouver
EasyCover offers professional liability insurance in Vancouver for independent contractors, business owners, and full-time employees in the following industries:
- Auditors
- Construction Professionals
- Consultants
- Chemical Engineers
- Computer Programmers
- Construction Contractors
- Database Managers
- Design Engineers
- Engineering Contractors
- Forensic Experts
- IT Professionals
- Project Managers
- Psychologists
- Public Administrators
- Social Services
- Yoga/Pilates/Zumba Instructors
- … and more!
If you offer professional services, advice or guidance, having a professional liability insurance policy in Vancouver can help protect you in the unexpected event of a lawsuit. Get a fast online quote today and ensure you and your business are protected.
Professional Liability Insurance Coverage Levels in Vancouver
EasyCover offers three choices of coverage for professional liability insurance policies in Vancouver:
- $1 million
- $2 million
- $5 million
These levels are the maximum amount you will receive for professional liability claims in Vancouver over a 12-month period, regardless of the number of claims you have during this period.
Selecting the right coverage level
When selecting the level of coverage for your Vancouver professional liability insurance policy, consider:
- The industry you are in;
- The monetary value of projects you are involved with;
- The number of clients you have; and,
- The potential financial extent of a lawsuit.
Even just one lawsuit could pose a significant financial challenge to you or your business.
Get Free Online Quote in Only a Couple of Minutes!
In just a couple of minutes, you can get a free online quote and policy from EasyCover – with no need to speak to a broker! We make the quoting process easy so that you can get back to what is important.
If you need help or wish to speak to a broker, we are available by phone at 1.844.439.2683 to help you through any questions you may have.
Submit a Professional Liability Claim in Vancouver
Our claims process is as easy as getting a quote and policy from us! With an easy online claims form, you can get back to your business sooner, with the peace of mind that you are protected.
Submit Your ClaimWhat situations could lead to a professional liability claim in Vancouver?
There may be several situations that could lead to a potential claim in Vancouver, including:
- Privacy or confidentiality breach;
- Professional negligence;
- Infringement of intellectual property rights; and,
- Defamation, libel, slander, product or character disparagement.
Learn more about these potential claim scenarios by clicking here.
Get an Instant Quote in Vancouver, BC!
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The cost varies depending on your profession, the size of your business, and other factors. It is recommended to get a personalized quote from an insurance provider to accurately determine the cost for your specific needs.
Professional liability insurance in Canada covers legal fees, settlements, judgements, and awards related to a lawsuit resulting from professional advice or services provided by an individual or business. It also protects against claims of professional negligence, breach of confidentiality, and intellectual property infringement.
Rates can be affected by a variety of factors, including the industry you are in, your business’s annual revenue, and the coverage options you choose. It is best to speak with an experienced insurance broker to understand how these factors may impact your specific policy rates.
The three main types of coverage are errors and omissions insurance, malpractice insurance, and directors and officers liability insurance. Each type provides specific coverage for different situations, so it is important to understand your needs and choose the appropriate coverage.
Commercial General Liability Insurance typically covers bodily injury and property damage claims, while Professional Liability Insurance covers claims related to professional services or advice. It is important for businesses to have both types of coverage to fully protect themselves.