Liability Insurance for Private Investigators

What Do Private Investigators Need To Know About Insurance Policies

Private Investigators in the Ontario area are thriving, however, before investing in your own business, you might want to consider private investigators professional liability insurance. Private Investigators are without a doubt considered a high-risk profession, as they are faced with a variety of risk on any given day. This is why any expert in the field will tell you that you also need to bundle your E&O private investigators insurance with commercial general liability insurance. Private investigators have to utilize a variety of different methods to determine the facts in a variety of situations. Maybe you are working on a missing kids case and tell your client that his or her last seen location was in Ontario.

What happens if the couple travels to Ontario and it puts them even further behind in their search, all just because you were misinformed? This is not to even mention the expenses it took for them to travel. Well, whether you are at fault or not private investigators E&O insurance can protect you from mental anguish charges and lawsuits. Commercial general liability works a bit differently, as it can protect you in the event that you cause bodily harm to an individual. If you are trying to apprehend a suspect and slam them too hard it could result in hefty medical bills, which might lead to a lawsuit. CGL will cover the medical expenses or the legal court costs.

We recommend of coverage of professional liability of no less than $1,000,000 along with $2,000,000 CGL. Rates starting from $600/Year for professional liability and $400/Year for CGL.

types of investigations covered

The Other Policies You Need

It might seem like E&O private investigators insurance and CGL is all the coverage that any private investigator needs. Unfortunately, that is not the case. As mentioned-above PIs are faced with a variety of risks on any given day, and this is why it is always imperative to ensure that you are protected. It is important to go into the ordeal with eye wide open and in order to do that; you need to know about some of the other policies you need to acquire.

Commercial Auto Liability Insurance

Whether you have employees or not, you are going to need commercial auto liability insurance. In fact, as a PI you will probably spend more time traveling in your vehicle than in the office. Long hours on the road can lead to exhaustion and confusion. And, this is why commercial auto liability insurance is a must. In the event that you hit and kill someone or destroy his or her property, this coverage will protect you. It can pay for you medical costs, the costs of the accosted party, both parties vehicle damage, and any property damage.

Commercial Auto Liability Insurance Recommended Limits – $200,000 Per Claim / $500,000 Aggregate

Firearms Coverage Endorsement

Your firearm will become you best friend on the road and since it is registered in your name, you must protect it at all times. You don’t want someone to get ahold of it and you don’t want to be caught without it. This is where firearms insurance can come in handy. In the event that your firearm is stolen or damaged while on the job, the policy will cover your losses.

Firearms Coverage Endorsement Recommended Limits – $5,000 Per Claim / $20,000 Aggregate (You can go as high or low as you want depending on the types and number of weapons that you carry.)

Cyber Liability Insurance 

At any given time you will have a variety of provocative information on your laptop. Maybe you have pictures of a cheating spouse or your client’s billing information. Whatever the situation is, if a hacker gets a hold of this personal information and leaks it, you could be in a major situation. Depending on the popularity and temper of the client you might be looking at a hefty lawsuit. This is the type of situation where cyber liability insurance can come in handy, as it will protect you from legal fees.

Cyber Liability Insurance Recommended Limits – $100,000 Per Claim / $500,000 Aggregate

Know The Costs Beforehand

It is no big secret that the PI business is a risky one, which means you can expect to pay more for certain types of insurance. While the business might be risky, there are still a variety of other factors that can determine the overall cost of your insurance. For instance, your previous driving record and credit history can play a major role when it comes to the cost auto liability insurance. Nonetheless, you at least need to have a basic ideal of what you can expect to pay.

  • Commercial Auto Liability Insurance – $900 a year per employee
  • Firearms Cover Endorsement – $100 to $200 a year
  • Cyber Liability Insurance – $30 a month

Don’t get too fixated on the prices, as these could be lower or higher based on your specific record and needs. Give us a call or visit to get a more accurate quote for our professional standing by.

private investigators professional liability insurance

 

FAQ before buying insurance for Private Investigators

 

Other professions we also provide insurance for:

Academic Testing Centres
Accident Investigation
Accident Prevention Consultants
Accountants
Actuaries
Adjusters
Adoption Agencies
Advertising
Advertising Agencies
Advertising Agents & Services
Aerial Mappers
Agents
Agrologists
Agronomists
Alarm Monitoring Services
Allied Health Professionals
Alternative Dispute Resolution Firms
Alternative Energy
Answering Services
Anthologist
Anthropologist
Appraisers
Arbitrators & Mediators
Arborists / Tree Surgeons
Archaeologists
Architects
Architects & Engineers
Architectural technicians and technologists
Associations
Attorneys
Auctioneers, Auction Houses
Authors
Bailiffs
Blueprint & Photocopy
Boat Registrars
Bookkeepers
Broadcasters
Building Designers(Bill 124)
Business Brokers/Managers
Business Consultant
Business Enterprise Agencies
Business Training Courses
Cabling Designers
Camera & Photo Supply Stores
Careers Advisory Service
Catering Consultancy
Cereal Growing Advisors
Chambers of Commerce & Trade
Charities
Chiropodists
Chiropractors
Civil engineers
Claims Adjusters & Administrators
Collection Agencies
Commercial Printer
Communication Consultants
Company Formation
Company Search Agency
Conference & Event Management
Conference Facilities & Services
Conservation Consultants
Conservation Organizations
Consultants
Consumer Organisations
Contest Managers
Contractors Accountants
Convention Planners
Copywriters
Counselling & Advice Services
Court Reporters
CPA/CMA
Credit Reference Services/Bureaus
Custom House Broker
Customs & Forwarding Agents
Data Processing Services
Database Managers
Day Spas
Decorators – Interior
Dental Laboratories
Designers
Dieticians (Consulting)
Directors
Directors and Officers
Documentary creators
Employment Agencies
Employment Agencies/Recruiters
Employment Placement Agencies
Energy Audits & Assessments
Engineers
Environmental Engineers
Event Planners
Excess & Umbrella Liability
Filmmakers
Fitness Clubs
Foreign Legal Consultants
Holistic Professional
Home inspectors insurance
Immigration Consultants
Independent Contractor
Industrial Designers
Information Technology
Interior Designers
IT Contractor
IT Specialist/Technician/Programmer
Journalists
Lawyers
Lawyer’s Excess Professional Liability
Long Term Care
Management Consultants
Mediators
Medical Clinics
Medical Devices
Medical Professionals (Malpractice Insurance)
Medical Related
Medical Student Malpractice Insurance
Mortgage Brokers
Multimedia designers
Naturopaths
New Media
Occupational Health and Safety Consultants
Paralegals
Photographers
Placement Agencies
Podiatrists
Private Investigators
Process Servers
Product Designers
Professional Entertainers
Professional Organizer
Professionals Liability
Project Managers
Property Managers
Publishers
Publishers and Printers
Quality Control Consultants
Recruiters
Recruitment and Employment Agency
Recruitment Consultants
Research & Development
Roofing Consultants
Safety Engineers
Service Organizations
Solar & Wind Farm Engineers & Consultants
Spa Package
Structural Engineers
Sub-Contractor
Surveyors
Tax Prepares
Technology Companies
Therapist Professionals
Town / Urban Planners
Training Providers/Trainers
Translators etc.
Travel Agencies
Travel Agents
Travel Agents, Tour operators
Web Designers
Web-Site Designers
Workplace Engineers & Consultants