Professional Liability Insurance for Regina Engineering Consultants
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Engineering is a diverse and complex field in which one small mistake can derail an entire project. No matter if you’re a sole proprietor or small business owner in Regina, you can be held responsible if the professional engineering advice or service you provide causes your client financial loss.
That’s why engineering contractors in Regina should consider professional liability insurance from EasyCover. This type of insurance can help cover your legal expenses if a client takes you to court with accusations that the service or advice you provided as a professional engineer caused them financial loss.
Make sure you’re covered because even the best-laid plans can go awry.
5 reasons engineering consultants in Regina should have professional liability insurance.
- Mistakes happen. Even the most skilled engineers make mistakes, which can ultimately prove costly for clients—and you! EasyCover’s professional liability insurance can protect engineering consultants in Regina from bearing the financial burden of unexpected lawsuits.
- Other liability insurance doesn’t cover it. Professional liability insurance protects engineers in Regina if a client claims your professional advice or service caused them a financial loss. Other liability insurances typically don’t provide protection for this type of lawsuit.
- It’s affordable peace of mind. EasyCover’s professional liability insurance for engineering contractors in Regina could start between $330 and $825 per year for $1 million in coverage. The rate you pay is dependent on a couple of factors, including your field of expertise, annual revenue and where you operate. We also offer $2 million and $5 million coverage options with competitive premiums if you require additional protection.
- Legal costs are expensive. Lawsuits can cause severe financial hardship for your engineering business if you don’t have the right protection. Professional liability insurance can help cover your defence fees as well as settlements or judgement amounts you may have to pay, up to your policy limit.
- It may be required. Some client contracts might stipulate that you have a certain level of professional liability insurance coverage. Also, some engineering associations may require that professionals within the industry have this type of insurance.
What affects professional liability insurance rates for engineers in Regina?
The cost of professional liability insurance for engineering consultants in Regina is based on a couple of factors, including:
- your field of expertise
- your company revenues
- the size of your business
- where you operate
- your level of coverage
- your insurance and claims history
EasyCover provides affordable and comprehensive personal liability insurance to a variety of engineers working in Regina, including:
- Acoustic engineers
- CAD / CAE engineers
- Chemical process engineers
- Civil engineers (excluding structural)
- Commissioning engineers
- Electrical engineers
- Electrical inspectors
- Expert witnesses
- Health and safety consultants
- Heating and ventilation engineers
- Mechanical engineers
- Mining engineers
- Oil and gas engineers
- Project managers
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 are some examples of professional liability insurance claims for engineers?
Engineering projects are complex and under significant scrutiny. Mistakes and allegations of negligence can happen. Professional liability insurance can help engineering contractors in Regina cover legal defence fees, settlements and judgement awards should a lawsuit arise due to issues such as:
- design errors
- project delays
- budgetary issues
- design repairs
Being taken to court can seriously damage your finances and career as an engineering consultant in Regina. Protect yourself with professional liability insurance from EasyCover.
How can engineering consultants in Regina get professional liability insurance?
Just as our name suggests, EasyCover makes it easy for engineering consultants in Regina to get professional liability insurance. In about five minutes, you can get your free quote, review your coverage and pay your premium—all online, without needing to speak with a broker. (But our experienced brokers are available if you do want to speak with someone.)
Get your professional engineering liability insurance in these six simple steps:
- Provide your contact information.
- Answer a couple of questions about your business, including your annual revenue and number of employees.
- Select your coverage—we offer $1 million, $2 million and $5 million.
- Decide if you want standalone professional liability insurance or if you’d like to bundle with other insurance coverages such as general liability and cyber liability.
- Review your quote, which you’ll receive instantly.
- Pay online—and, like that, you’re covered!
What optional coverages are available for engineers in Regina?
Besides offering professional liability insurance, EasyCover can also provide a few additional protections for Regina’s engineers.
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.
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.
Protect yourself against the unexpected.
Protect yourself against the unexpected with Professional Liability Insurance for Engineers in Regina from EasyCover.Start Quote