Having consultant professional liability insurance is a must in the world today. The average consumer is dependent on either technology, their resources, or professionals in order to conduct business. It is often the scenario where businesses must consult third parties when they lack expertise in a particular field or industry and encounter a situation where their money and resources are to be invested. The answer and the ultimate solution for most businesses in this position is getting consulting services from a professional that holds Professional Liability Insurance and experience in the appropriate field.
This demand for professional consulting, created the need for these professionals to obtain professional liability insurance. As a consultant, your services can be the fine line between a businesses boom or disaster. Your clients put their faith in you and in some cases invest their money and resources based on your recommendations. This job not only holds time and investment, but also comes with a great responsibility. We, professionalscoverage, understand the consumer market and its value for consultants. Being in business for many years has given us the expertise and knowledge to create an insurance policy that is perfectly tailored to the professionals exposures, which in this case are consultants.
Professional Liability insurance is a very broad term. Every professional in the service industry requires this insurance to shield themselves from liability as a result of the services they provided to their clients. Along with PLI, your business must have general liability coverage for protection in the event physical damages arise as a result of your operations.
Canadian employers must also ensure that their employees have active workers compensation insurance throughout their employment.
Types of consultants we provide insurance to:
- Management Consultants
- Environmental Consultants
- Healthcare Consultants
- HR Consultants
- Safety Consultants
- Personal Consultants
- Executive Consultants
- Technical Consultants
- Business Consultants
Consultants today must secure themselves from any possibility of a liability. Your customers that earn you big dollars can very easily be the reason for a financial disaster for you or your business. Over the years, with technology innovating and information being available at an average persons discretion with just a few clicks has not only made accessibility of answers easy, but has also made the customer smarter.
Your clients today are familiar with claims, litigation, and lawsuits in the case of them encountering a financial loss as a result of another (Professionals). In your field, you may often be required by your clients to obtain a professional liability insurance coverage as a part of the agreement or contract. This is why it is always best to do your due diligence and learn about the amount of coverage you will need prior to purchasing a policy. You best option will always be to start of by talking to fellow consultants about their policy limits and then proceed to speaking to a licensed broker to compare some quotes.
In the case of a financial loss for the client, they now want the security of recovering from damages through your liability insurance if the loses are a result of your negligence, errors, or failure to deliver to standard.
Benefits of Liability Insurance for consultants:
- Client preference to work with you
- Financial shield for you and your business
- You may land more contracts
- Few hundred dollars provide Millions in Coverage
- Your piece of mind.
- Ability to add commercial auto coverage for cheap premiums with an existing policy
We currently insure 100’s of Consultants Canada Wide. Our policies are tailored specifically to your needs. We strive to provide the best coverage for the cheapest rates. Begin today by learning about how to apply for insurance or click below get a Quote today!
FAQ before purchasing consultant’s professional liability insurance
- How much consultant professional liability insurance do I need?
- How do I get a consultant insurance policy?
- What does consultant professional liability insurance cover?
- What is the difference between claims made & occurrence form of coverage?
- When will I need to be insured as a consultant?
- What other professions need this type of insurance?
Other useful posts you should also read
- Canadian insurance companies that provide professional liability insurance for consulting businesses
- How does the claims process work if I get sued because of my consulting services?
- What is the cost of consultants professional liability insurance?
- How do I apply for a consultant professional liability insurance policy?
- How do I qualify for coverage as a consultant?
- What is the purpose of getting insured as a consultant?
- How long will it take to get an insurance quote for my consulting business?