Professional Liability Insurance for Consultants in Vancouver

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Working as a consultant in Vancouver, BC, can be competitive regardless of what industry you are in.

Prospective clients are not only looking at your pricing and services, they are also taking note of your reputation.

If a current or former client feels that your professional advice or opinion led to their financial loss, they could sue you over financial damages. Not only could this be financially devastating to your business, but it could seriously hurt your reputation as a consultant, even if the claims are false.

Fortunately, having a professional liability insurance policy can help.

EasyCover offers professional liability insurance for consultants across a wide range of industries, including software, marketing, HR and more!

Professional Liability Insurance for Consultants in Vancouver

Professional liability insurance in Vancouver, also known as errors and omissions insurance, works to protect you and your Vancouver consulting business from financial damages that may result from your professional advice or opinions.

This type of policy differs from a commercial general liability (CGL) insurance policy, which protects your business from accusations of bodily injury and property damage. A CGL policy may not cover you in the event you’re accused of professional negligence in providing your services.

Common risks faced by consultants in Vancouver

As a consultant in Vancouver, unfortunately, there are many reasons a client could sue you. Some reasons could include:

  • You don’t meet the agreed upon terms or deadlines
  • You surpass the budget set at the beginning of the project
  • You gave advice to a client that results in them losing money
  • You are accused of defamation and slander from a client’s competitor
  • You neglect to file applications for a project, which leads to delays
  • You bring on sub-standard sub-contractors

Whether these claims are warranted or not, you still run the risk of being brought to court by a client. Without a professional liability insurance policy in place, legal fees, court costs and judgements could be crippling to your consulting business.

How much coverage should a consultant in Vancouver have?

The amount of professional liability insurance coverage you should have as a consultant in Vancouver is dependent on several factors. Before choosing your level of coverage, consider:

  • The size and scope of your projects
  • The financial value of the projects you’re working on
  • How many clients you have
  • Where your business operates
  • Whether you are operating on a full-time or part-time basis
  • The possible financial extent of lawsuit

After taking into consideration the above factors, you can choose your level of coverage. EasyCover offers three levels of coverage for consultants in Vancouver:

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

These coverages are the maximum amount you will receive for claims in a 12-month period.

If you have questions about how to choose how much coverage you need, we are here to help. Get in touch with our brokers by calling 1-844-439-2683 or by emailing [email protected].

How much does professional liability insurance for Vancouver consultants cost?

Every professional liability insurance policy rate varies because each consultants’ needs are different. Your rates will be affected by:

  • The coverage level and deductible you choose
  • Your insurance and claims history – the more claims you’ve experienced in the past, the higher your cost will likely be
  • Your industry and type of business
  • How many employees you have (if any)
  • Your business’ yearly revenue
  • Where your business is located and operates
  • … and more

The easiest way to determine how much a Vancouver consultant professional liability insurance policy will cost you is by getting a free, no-obligation quote with us today.

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4 Steps to Getting Vancouver Consultant Professional Liability Insurance!

Getting a professional liability insurance policy as a consultant in Vancouver is quick and easy with EasyCover. Follow these simple steps to get your policy.

Step one: Fill out our free online quoting tool by answering some basic personal and company information.

Step two: Select your policy, coverage, and make your secure payment online.

Step three: Receive your confirmation of insurance by email.

Step four: Work with confidence knowing that you are covered.

It’s that easy. And if you have questions, or just want to speak to a human, we have an experienced team of brokers ready to help. Contact us at 1-844-439-2683 or by email at [email protected].

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