Professional Liability Insurance for Adjusters

Exploring Insurance Policies For Adjusters

Any adjuster in the Ontario, Canada area should know that adjuster professional liability insurance or E&O insurance is absolutely necessary to ensure the safety of their career. As an adjuster your role is crucial to that of any insurance company, as you are required to assess different claims and determine just how much the insurance provider will pay out to the customer. While this profession is very rewarding, there are times when you might be dealing with a pushy customer or a nagging insurance company. Whatever the situation is, the whole ordeal can make your job stressful, which might result in mistakes of misjudgments that could potentially cause the customer or insurance company to experience a major financial loss.

This is why we take extra precaution and recommend discussing your insurance requirements with a broker, prior to beginning operations, to make sure your business is eligible for insurance.

This is the exact situation where professional liability insurance for adjusters can come in extremely handy. In the event that you make a mistake that results in a financial loss to the customer or insurance company, this insurance will cover those losses. However, it doesn’t just stop there, as some customers or insurance providers might look to seek out legal ramifications for your mistake. E&O insurance for adjusters can also cover court fees, lawyer fees, and other legal related expenses that you might face throughout the journey. To get coverage for physical exposures such as property damage and bodily injury, make sure to look into a general liability insurance policy to be adequately insured.

We recommend having $1,000,000 worth of professional liability insurance along with $1,000,000 CGL insurance if the business demands it. Rates starting from $60/month!


Professional Liability Insurance for Adjusters

Other Policies That Need To Be Considered

Unfortunately, these are not the only risks that are faced by adjusters in the Ontario area. Sure, PLI insurance for adjusters is extremely important and necessary, but it will not cover you in every situation. If you want to ensure that your company is protected at all times here is a list of other insurance policies that you need to consider.

Commercial Vehicle Insurance

As an adjuster you are going to constantly be traveling form jobsite to jobsite evaluating different claims. In fact, you will spend more time in your vehicle traveling than anywhere else. Unfortunately, the road can be a tricky and dangerous place and this is why you need commercial vehicle insurance. Regular insurance won’t cut the mustard if you are using the vehicle for business related purposes. While there are a variety of different policies available, the most basic packages with cover vehicles damages, medical related, and property damage.

  • Commercial Vehicle Insurance Recommended Limits$1,000,000 per claim / $2,000,000 aggregate

Workers Compensation Insurance

If you plan on being big enough to hire employees, you are going to be required to invest in workers compensation insurance. This insurance protects you in the event that one of your employees is injured while on the job. This policy can cover their medical expenses, as well as their lost wages. Some policies might even cover your court costs in the event that the employee tries to unlawfully sue you for lost wages.

  • Worker Compensation Insurance Recommended Limits$100,000 per claim / $1,000,000 aggregate

Employee Dishonesty Insurance

Unfortunately, not all employees are model employees, which could potentially result in major financial losses to you. If an employee damages your property or steals from you employee dishonesty insurance will protect you.

  • Employee Dishonesty Insurance Recommended Limits $500,000 per claim / $2,000,000 aggregate


insurance adjuster liability insurance

What Are You Going To Pay For These Policies?

The costs of policies can vary depending on a variety of different factors. For instance, as an insurance adjuster you are not considered to be in a high-risk field, which will greatly lower the costs of your overall insurance. However, if you have a bad driving record or a questionable credit past, there is a good chance that these factors could counteract the lower risk and raise the price of your insurance. That being said, if you are looking to invest in the above insurance policies you need a basic ideal of what you are going to pay.

  • Commercial Vehicle Insurance$80 per month
  • Worker Compensation Insurance$30 per month
  • Employee Dishonesty Insurance$35 per month
  • Professional Liability Insurance – $60 per month

Get in touch with us today to find out how much you’ll be required to pay when purchasing coverage from a Canadian insurer. You can fill out the form on our site to figure out the costs right away. Alternatively, you may want to consider calling us on the phone or contacting us by email. We’ll get back to you as quickly as possible. We’ll answer any question that you may have!

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FAQ before purchasing adjusters professional liability insurance

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Other professions we also provide insurance for:

Academic Testing Centers
Accident Investigation
Accident Prevention Consultants
Adoption Agencies
Advertising Agencies
Advertising Agents & Services
Aerial Mappers
Alarm Monitoring Services
Allied Health Professionals
Alternative Dispute Resolution Firms
Alternative Energy
Answering Services
Arbitrators & Mediators
Arborists / Tree Surgeons
Architects & Engineers
Architectural technicians and technologists
Auctioneers, Auction Houses
Blueprint & Photocopy
Boat Registrars
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
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
Consumer Organisations
Contest Managers
Contractors Accountants
Convention Planners
Counselling & Advice Services
Court Reporters
Credit Reference Services/Bureaus
Custom House Broker
Customs & Forwarding Agents
Data Processing Services
Database Managers
Day Spas
Decorators – Interior
Dental Laboratories
Dietitians (Consulting)
Directors and Officers
Documentary creators
Employment Agencies
Employment Agencies/Recruiters
Employment Placement Agencies
Energy Audits & Assessments
Environmental Engineers
Event Planners
Excess & Umbrella Liability
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
Lawyer’s Excess Professional Liability
Long Term Care
Management Consultants
Medical Clinics
Medical Devices
Medical Professionals (Malpractice Insurance)
Medical Related
Medical Student Malpractice Insurance
Mortgage Brokers
Multimedia designers
New Media
Occupational Health and Safety Consultants
Placement Agencies
Private Investigators
Process Servers
Product Designers
Professional Entertainers
Professional Organizer
Professionals Liability
Project Managers
Property Managers
Publishers and Printers
Quality Control Consultants
Recruitment and Employment Agency
Recruitment Consultants
Research & Development
Roofing Consultants
Safety Engineers
Service Organizations
Solar & Wind Farm Engineers & Consultants
Spa Package
Structural Engineers
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