Professional Liability Insurance for Edmonton Engineers

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A mechanical or robotics engineer working in Edmonton.

If you’re sued for financial loss by a client, could you cover the associated costs out of pocket? Professional liability insurance helps protect Edmonton engineers if they’re accused of making a mistake, having costs overrun, and other scenarios that cause financial loss to a third party. At EasyCover, we make getting this coverage even easier.  

In just a few easy steps Edmonton engineers can get a professional liability insurance quote or even purchase their coverage online. Here’s how: 

  • Step 1: Provide your contact information. 
  • Step 2: Answer a few questions about your business. 
  • Step 3: Choose your coverage (we offer professional liability insurance and you can add on general, cyber and director and officer’s liability). 
  • Step 4: Pay online. 

And you’re covered! It’s really that easy.  

Do professional engineers need insurance in Edmonton? 

Yes, we recommend engineers in Edmonton carry professional liability insurance. Lawsuits are very expensive and this coverage can help with the cost. Other types of insurance will not cover financial losses to third parties caused by professional advice or providing a professional service. 

You will also likely be required to carry this coverage by your contracts and regulatory/industry associations.

What is covered by professional liability insurance? 

Edmonton engineers are protected if they’re sued for causing financial loss to a third party. This includes coverage for legal expenses such as defense (lawyer) costs, settlements, and judgement awards.  

Examples of Professional Liability Insurance Claim Scenarios for Edmonton Engineers 

Here are a few scenarios where professional liability insurance could help an engineer in Edmonton: 

  • If you’re accused of making a mistake that costs your client money. 
  • If a client holds you responsible for a project delay. 
  • The budget of a project is far higher than you projected. 
  • Your design was flawed and necessitated costly repairs.  

In these and other cases, your client can hold you liable for causing them financial losses.

How much does professional liability insurance cost? 

Engineers in Edmonton may expect to pay at least $500 per year for professional liability insurance alone. Your rates will depend on: 

  • What type of engineering services you provide 
  • Your annual revenue 
  • The number of employees you have 
  • Where you operate 
  • Your coverage options 

Here are some examples of professional liability insurance rates for engineers in Edmonton: 

  • A self-employed electrical engineer with no employees earning $125,000 each year and operating exclusively in Alberta can expect to pay $1320 per year for $1 million of professional liability insurance. For an extra $370 per year, they could add on commercial general liability and cyber liability coverage. 
  • A mechanical engineer with no employees earning $90,000 a year and operating only in Alberta could pay $880 for $1 million of professional liability coverage. 
  • A draughtsman based in Edmonton but also operating in BC and Saskatchewan with no employees and making between $50,000 and $100,000 a year pays $440 for their professional liability coverage. An extra $380 per year could get them general liability and cyber liability protection. 

Your premiums may vary depending on your individual circumstances. You can get an instant quote online with us to get an idea of your rates before you purchase a policy. 

How much professional liability insurance should Edmonton engineers have?  

The amount of professional liability insurance engineers should carry will depend on their individual circumstances. Consider: 

  • The likelihood of a lawsuit 
  • The expected costs of a lawsuit 
  • Contract requirements (generally $1 million or $2 million) 
  • Business risks 
  • Number of and size of clients and value of contracts 

At EasyCover, we offer three levels of professional liability insurance protection: 

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

Keep in mind that this amount applies to the total number of claims you have during a policy period (usually 12 months). So, if you’re accused of a mistake by two separate clients, that would be two claims, and both would count towards your coverage amount. 

If you want additional protection, we also offer optional commercial general liability, cyber and privacy liability, and director’s and officer’s liability insurance coverage.  

Engineers Insured by EasyCover in Edmonton 

EasyCover has insured the following types of engineers in Edmonton: 

  • Acoustic Engineers 
  • CAD/CAE Engineers 
  • Chemical Engineer 
  • Civil Engineer (no structural) 
  • Commissioning Engineer 
  • Draughtsman 
  • Electrical Engineers 
  • Expert Witness (Engineer) 
  • Feasibility Studies 
  • Geologist 
  • Health & Safety Consultant 
  • Heating & Ventilation Engineer 
  • Mechanical Engineers 
  • Mining Engineer 
  • Oil & Gas Engineer 
  • Project Manager (Engineering) 

Don’t see your profession listed here? Contact EasyCover us to discuss your situation. We’re happy to refer you to a great partner if we can’t insure you. 

What optional coverages are available for engineers in Edmonton? 

Besides offering professional liability insurance, EasyCover can also provide a few additional protections for engineers in Edmonton.  

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, particularly for engineers as you may be visiting work sites. 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. 

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. 

We recommend all businesses carry cyber coverage as businesses of every size and industry are vulnerable to cyberattacks and data breaches.

Why Choose EasyCover 

Edmonton engineers should choose EasyCover for their professional liability insurance because we offer: 

  • Affordable rates 
  • Comprehensive coverage 
  • 24/7 online insurance quotes and policy management 
  • Access to experienced insurance brokers  
  • We make insurance convenient and easy 
  • We also offer other valuable insurance protection to add on to your professional liability insurance. 

Get an online quote today! 

Protect yourself against the unexpected.

Protect yourself against the unexpected with Professional Liability Insurance for Engineers in Edmonton from EasyCover.

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