Professional Liability Insurance Burnaby, British Columbia
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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. EasyCover has the solution and specializes in professional liability insurance in Burnaby, British Columbia.
EasyCover Offers Professional Liability Insurance to Burnaby, BC Professionals & Businesses
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.
EasyCover is 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 Services
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.
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. Commercial general liability and professional liability insurance do not cover the same thing, and both may be needed to compliment (but not replace) one another to fully insure your professional business.
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
- Failing to provide a promised service
- Not meeting a specific standard of care
- Mistakes or errors when providing a service
- Not making an agreed upon deadline
While the list above contains some of the most common claims, coverage provided depends on your specific policy. 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.
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.
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. Click the link below to get started.
EasyCover: 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 or look at the various other liability coverages EasyCover offers, including commercial general liability insurance, cyber liability insurance, and directors and officers insurance.
EasyCover’s Burnaby Professional Liability Insurance
EasyCover Canada provides comprehensive, cost-effective professional liability insurance for Mississauga professionals. We offer coverage for a wide variety of roles in these industries:
- Construction Contractors
- Consultants
- Engineering Contractors
- Finance Professionals
- Forensic Experts
- IT/Computer Contractors
- Legal Professionals
- Managers
- New Media
- Photographers
- Social Services
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