Edmonton Construction Contractor Liability Insurance

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Understanding Construction Liability Insurance.

Professional liability insurance protects Edmonton construction contractors if they’re accused of or held responsible for causing financial loss to a client due to their service or advice. This includes scenarios like:

  • A sub-contractor fails to deliver on time
  • There is a delay or increase in cost from the original project estimate
  • A mistake is made

With EasyCover, you can quickly and conveniently get an online professional liability insurance quote for Edmonton construction contractors. You can even purchase your policy!

How to Get an EasyCover Construction Contractor Professional Liability Insurance in Edmonton

  1. Enter your information to get a free construction liability insurance quote.
  2. Select the coverage that works for you.
  3. Pay online and receive your policy documents.

With EasyCover, getting construction contractor professional liability insurance in Edmonton is quick and convenient. In under 10 minutes, you’ve got affordable and comprehensive protection. 

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What is Edmonton construction contractor professional liability insurance? 

This type of professional liability insurance is designed for Edmonton construction contractors to protect them if they are held liable for financial loss to a client or third party.  

Do construction contractors need professional liability insurance in Edmonton? 

Do you provide a professional service or professional advice in Edmonton as a construction contractor? If so, you should have professional liability insurance. There are two main reasons: 

  1. Construction contractors may be required to hold professional liability insurance in Edmonton as part of their contractsThis insurance helps protects both your and your client’s financial interests.  
  2. Even if your contract does not mandate carrying professional liability insurance, it’s a good idea for Edmonton construction contractors to have this coverage. Otherwise, you could be paying expensive legal fees out of your own pocket. 

What is covered by Edmonton construction contractor professional liability insurance? 

Professional liability insurance protects Edmonton construction contractors if they are sued for causing financial loss to a client while providing their service or advice. This includes accusations of negligence, misrepresentation, failure to provide and more.  

Professional liability insurance helps cover legal expenses for Edmonton construction contractors, including: 

  • Defence costs 
  • Judgement awards 
  • Settlements 

As these costs can be astronomical, this type of protection is essential for any construction contractor in Edmonton. Protect your financial security with professional liability insurance. 

Levels of Protection 

At EasyCover, we offer three levels of protection for Edmonton construction contractor liability insurance: 

  • $1 million 
  • $2 million 
  • $5 million 

This amount is your policy limit, or the maximum amount you would receive for any and all of the professional liability claims made in the 12-month policy period. This includes any defence expenses as well as the settlement or judgement costs. 

 

How to Choose the Right Level of Professional Liability Insurance for an Edmonton Construction Contractor 

To choose the right level of protection for your business, consider the answers to the following questions: 

  • What contract requirements do you have with regards to liability insurance? 
  • What are your company’s and industry’s liability risks? 
  • What type of clients do you work for? 
  • What industry are your clients in? 
  • What is the overall value of your projects? 
  • What size is a potential legal claim against you? 

The level of protection you require will depend on these factors as well as your own risk tolerance.  

Construction Contractors in Edmonton Covered by EasyCover 

We offer professional liability insurance for many different construction contractors in Edmonton, including: 

  • Architect 
  • Architectural Technologist 
  • Contracts Manager 
  • Construction Safety Officer 
  • Document Control 
  • Electrical Engineer 
  • Fire Safety Auditor 
  • Health and Safety Consultant 
  • Highway Engineer 
  • Maintenance Manager 
  • Operations Manager 
  • Planning Engineer 
  • Construction Project Manager 
  • Site Engineer 
  • Technical Engineer 
  • Urban Planner 

How to Manage Your Risk as a Construction Professional Liability Insurance in Edmonton 

While professional liability insurance protects Edmonton construction contractors, it’s always best to avoid getting sued in the first place! This keeps your premiums lower and you avoid the stress of litigation. Here are some tips to mitigate your risks: 

  • Develop effective communication with your clients. Claims often arise because a client wasn’t communicated with properly and were surprised by a financial loss or there was a lack of communication with a subcontractor. Open and honest communication helps keep everyone on the same page. 
  • Keep records. You should keep records of all communications (including in-person conversation through a follow up email) as well as legal documents, receipts, and anything else relevant to your business. Keep multiple copies and at least one digital backup. These records help you protect yourself and provide evidence if you’re sued 
  • Ensure contracts address delays and additional costs as well outline your role specifically. While a good contract may not prevent you from being sued, it is an excellent way to set expectations and can be used as a reference. 
  • Vet subcontractors. This helps minimize mistakes and helps a project to be completed properly while on budget and on time.  
  • Practice quality control. Implement procedures to help assure ongoing quality. It can help to have someone else review the risk to catch anything you’ve missed.  

What affects Edmonton construction contractor professional liability insurance rates? 

The following factors affect the cost of professional liability insurance for construction contractors in Edmonton: 

  • Your profession 
  • Your industry 
  • Your company’s revenue 
  • The number of employees you have 
  • Where you operate 
  • Your insurance options including coverage and policy limits 

Frequently Asked Questions About Edmonton Construction Contractor Professional Liability Insurance 

Here are some answers to our most frequently asked questions about Edmonton construction contractor professional liability insurance.  

Aren’t I covered by commercial general liability insurance? 

A CGL policy covers a different type of liability risk: claims against you or your business for bodily injury, death or property damage as a result of your business operations or by actions or inaction by yourself or an employee. It does not cover any claims for causing financial loss to a client.  

What’s the difference between commercial general and professional liability insurance for Edmonton construction contractors? 

For construction contractors in Edmonton, the biggest difference between commercial general liability(CGL) and professional liability insurance is the type of claim they cover: CGL covers bodily injury, death and property damage caused by your business operation or an employee’s action/inaction whereas professional liability covers claims of your professional service or advice causing financial loss to a client or third party.  

What’s the difference between professional liability insurance and errors and omissions insurance for Edmonton construction contractors: 

Professional liability insurance and errors and omissions insurance is the same coverage with a different name. You’ll see both terms used. 

As an Edmonton construction contractor, am I legally liable for my subcontractors? 

Yes, you are usually legally liable for your subcontractors. This is because subcontracting is your decision – you’re responsible to ensure they’re meeting deadlines, budgets, and quality expectations. Their success or failure reflect on you.  

If a subcontractor misses a deadline or makes a mistake that costs your client, you can be held liable. Professional liability insurance can help protect you if this happens.