Professional Liability Insurance in Lethbridge
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Professional liability insurance (also known as errors and omissions insurance) helps Lethbridge professionals protect their business should they face claims alleging negligence, an error in providing professional advice or services, or omitted information. Your business may require you to have commercial general liability as its baseline, but if it provides a service/advice that qualifies as professional (i.e., consultant, lawyer, counsellor, etc.) it needs an additional layer of protection to have full protection.
In Lethbridge, professional liability insurance protects all ranges of different professional occupations and can be the very thing that saves your business from going under if something unexpected happens on the job.
FAQs for Lethbridge Professional Liability Insurance
We get it – professional liability insurance in Lethbridge isn’t always the easiest coverage to understand, especially as not every business may need it. However, if you provide a professional advice or opinion, then it’s a necessity – and possibly even a legal requirement.
We want to help you better understand your coverage. Review our FAQs regarding professional liability insurance.
Is it mandatory to carry professional liability insurance in Lethbridge?
It can be mandatory to carry professional liability for some Lethbridge professional occupations. However, not every industry is legally required to carry this coverage. It may not be required, but some clients may refuse to work with your company without evidence of insurance.
In Lethbridge, this coverage may only be highly recommended – but it’s still critical for professional businesses to cover their assets in the event they are faced with a lawsuit.
What does professional liability insurance in Lethbridge do to protect my business?
Professional liability insurance in Lethbridge is specifically designed to protect professionals who offer specific services or advice as their main source of revenue. Here are some claim scenarios:
- As a marketing consultant, you accidentally forward an email containing sensitive information to a third-party, who uses that information with malicious intent.
- You work as a counsellor and a client sues you, alleging financial loss due to misinformation or omitted information while performing your promised duty.
Professional liability insurance can help Lethbridge businesses in any of the above situations.
How much does professional liability insurance cost in Lethbridge?
The cost of your professional liability insurance in Lethbridge is highly dependent on a number of factors. As you may already know, insurance premiums vary and range in price depending on your risk factor. The likelier you are to make a claim, the more your insurance will inevitably cost you.
The cost of professional liability insurance in Lethbridge may vary depending on the following factors:
- Your Industry
- Business experience
- Your coverage history
- Likelihood of a lawsuit
- Business size
- Your employees
- The service/advice your business provides
- Number of clients
How much professional liability insurance do I need for my Lethbridge business?
When purchasing professional liability insurance in Lethbridge, you want to avoid buying too little insurance but also too much insurance. Both of these circumstances may result in you losing money, whether due to the fact that you have too little coverage to pay off your losses or because your premiums are too high
Before selecting your coverage level, consider these questions:
- How could someone’s reputation be injured if you made a mistake?
- How much can your business afford to pay for its defence costs in the event of a lawsuit?
- How expensive are the lawsuits your industry faces on average?
- How much can you afford to pay for your insurance?
- How common are claims in your industry?
If you are still unclear about what your needs are, know that you can always discuss with Bullfrog Insurance’s experienced professional liability insurance brokers.
Where can I buy professional liability insurance in Lethbridge?
Bullfrog Insurance makes it easier and faster than ever to purchase professional liability insurance in Lethbridge – and you can do so all online. Now, quicker than ever, you can fill out our online questionnaire and receive hundreds of online quotes almost immediately, based on your specific needs and wants. All the options that we present are standardized between professional liability insurance companies in Lethbridge, so all that you are required to do is compare quotes by price. Fill in the fields provided with your industry, what you do, and your coverage options. Immediately you will receive quotes! You can go right ahead to purchasing if that is what you so choose.Get a Quote Now
Where we offer
We offer professional liability insurance coverage in these places in Canada:
- Red Deer
- British Columbia
Why our customers love Bullfrog
Our customers love Bullfrog Insurance because we provide an easy and straightforward way to receive professional liability insurance quotes in Lethbridge, as well as in all our other locations. With Bullfrog Insurance, you can receive a quote and purchase quickly online, or even receive a helping hand through one our knowledgeable insurance brokers. We’re responsive, professional, and our insurance coverage is always of the highest quality (while remaining competitively priced).
Harassement Solutions Inc.
Due to a client’s request, and for the first time, I needed Commercial general liability insurance, but I had no clue where to start. I googled “CGL” and up came Bullfrog Insurance. Even though my needs were relatively small, due to the client needs, they had to be very specific. Every question I asked was answered by the Bullfrog insurance representative, Raman, who was very helpful. And then, when I realized I needed more coverage, she didn’t flinch and let me know she’d get back to me right away. I got great coverage and all of it was done via email. Now I’ll know who to turn to for other small business insurance needs.