Professional Liability Insurance in Red Deer
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In Red Deer, occupations such as consulting, management, finance, etc., need professional liability insurance (which can also be referred to as errors and omissions insurance). This type of coverage can help cover the cost to defend yourself in a court-of-law should you ever be faced with a lawsuit due to alleged error in providing professional service or advice, omitted information, and so on.
Your business will still need some form of commercial general liability insurance as its base coverage, but if it provides a professional service/advice, it needs the added coverage layer that professional liability insurance offers in order to operate without exposure.
FAQs for Red Deer Professional Liability Insurance
If you’re a business owner or a professional, errors and omissions coverage may either be highly recommended or legally required. Here are some frequently asked questions about professional liability insurance for Red Deer business owners.
Where can I buy professional liability insurance in Red Deer?
Bullfrog Insurance makes it easier than ever to purchase professional liability insurance in Red Deer. You can do so online through our short questionnaire. Receive numerous online quotes immediately, based on your industry, what you do and the coverage options you select. You also have the option of working with one of Bullfrog Insurance’s expert brokers.
How much does professional liability insurance cost in Red Deer?
The cost of professional liability insurance in Red Deer boils down to how likely you are to make a claim. The higher your chances of making a claim, the more your insurance will cost you.
The following factors will influence how much you pay, on average, for professional liability insurance in the City of Red Deer:
- How likely you are to face a lawsuit
- Your coverage history
- Your business experience and history
- Size of business
- Staff team
- The service/advice your business provides
- Number of clients
How much professional liability insurance do I need for my Red Deer business?
Choosing how much professional liability insurance in Red Deer you may need to fully cover your business will vary. You never want to overinsure nor underinsure your business, because both of these situations could result in you losing money.
You want the right amount of coverage, but how do you know what that is? Consider the following questions:
- How much can your business afford to pay if you faced 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?
- What could potentially cause advertising injury to someone?
If you’re still unclear, discuss with Bullfrog Insurance’s professional liability insurance brokers today.
Is it required to have professional liability insurance in Red Deer?
Not always, but there are numerous scenarios where it is a requirement to carry professional liability insurance in Red Deer.
Professional liability insurance is crucial to your operations if you provide a professional service or advice, not only because it covers the cost of damages, but also potential defence costs that you may be faced with. Even if you don’t feel you’ve done anything wrong, you could still face a lawsuit – and you may be required to handle the costs to defend yourself in a court-of-law.
Some professions must carry professional liability insurance in Red Deer, whereas others may lose out on work because a client refuses to work with an uninsured business.
What does professional liability insurance in Red Deer do to protect my business?
There’s multiple ways professional liability insurance can be of help to your Red Deer business. Consider these scenarios where your errors and omissions insurance coverage may protect you:
- While sending out private information to a client, you accidentally forward an email to a third-party who uses the leaked data for malicious activities.
- A client perceives your misinformation or omitted information to have resulted in their financial loss. They sue you for perceived financial loss.
Professional liability insurance can help Red Deer businesses in any of the above situations.Get a Quote Now
Where we offer
Other than Red Deer, Bullfrog Insurance provides professional liability insurance coverage to the following locations in Canada:
- Red Deer
- British Columbia
Why our customers love Bullfrog Insurance
We pride ourselves in helping you acquire competitive quotes from top-rated insurance markets in Canada. All that you need to do as the business owner is fill out our short questionnaire and begin receiving quotes. You can purchase online right away if you choose, or you can request the help of one of our knowledgeable professional liability insurance brokers. We’re responsive, professional and confident we can help you get quality coverage for less.
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.