Do you have the right professional liability Insurance?Date Published: February 7, 2023
Professional liability insurance, also known as errors and omissions insurance, is an important consideration for any business or individual providing professional services in Alberta. This type of insurance provides protection against claims of negligence, errors, or omissions that may occur in the course of providing professional services.
In Alberta, professional liability insurance is available through a variety of different insurance providers. These providers offer a range of different coverage options, so it is important to shop around and compare different policies to find the one that best meets the needs of your business or profession. Insureline Empire has access to dozens of different insurance providers to get you the best rates and the coverage you need.
One of the most important things to consider when choosing a professional liability insurance policy is the amount of coverage you need. This will depend on the type of services you provide and the potential risks that your business may be exposed to. For example, a consultant may need a higher amount of coverage than a freelance graphic designer.
In addition to coverage for claims of negligence or errors, professional liability insurance policies in Alberta typically also include coverage for legal defence costs. This can be important in the event that you are sued for negligence or other professional errors, as it can help to protect you from financial liability.
Another important consideration when choosing a professional liability insurance policy is the deductibles. A higher deductible means a lower premium, but also means that you will have to pay more out of pocket if you need to make a claim. It’s important to find the right balance between the cost of the policy and the amount you are willing to pay out of pocket in the event of a claim.
It’s also important to review your insurance policy periodically and make any necessary changes, such as updating coverage amounts or adding coverage for new services.
Overall, professional liability insurance is an important investment for any business or individual providing professional services in Alberta. It provides protection against claims of negligence and other errors and can help to ensure that you are financially protected in the event of a loss. By shopping around and comparing different policies, you can find the coverage that best meets the needs of your business or profession at a price that fits your budget. Contact us today at 780 761 2200 or get a free quote online at https://insurelineempire.com.