3 Things To Know About Fredericton Professional Liability Insurance Coverage

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Okay, so you’re a professional. We have this covered (no pun intended). But the question still remains… are you covered under a Fredericton professional liability insurance policy? Chances that you’re not… or well, you wouldn’t be here!

If you are considering purchasing this policy in the near future, here are 3 things that you need to know about it:

  1. It’s not a general liability insurance policy. Yes, those two policies might share many similarities, but at the end of the day they are two completely different policies. General liability insurance policy covers damage and injuries whereas professional liability insurance policy covers damage associated with acts of negligence and malpractice.
  2. Nobody forces you to purchase a Fredericton insurance policy… except some companies in Canada. We’ve said it before and we’ll keep saying it: Just because you don’t have to buy this policy (according to laws in Fredericton) doesn’t mean that you shouldn’t. Fortunately, this belief is widely held among companies in the country. This is why several of them only hire people who are covered under this policy or plan on purchasing it in the near future. (Does that sound like you? Request your free Fredericton professional liability insurance quote if it does!)
  3. Professional liability insurance rates vary… but they are not set in stones. Insurance policies in general are not the cheapest things to purchase, but the truth is that they don’t have to be crazy expensive. Depending on what kind of profession you work in, where in Canada you are located and which insurance company you decide to purchase insurance coverage from, you will find that insurance rates vary greatly. But here’s the good news: Your monthly insurance premiums CAN be lowered. A simple search in Google will provide you many tips to help you do exactly that. Good luck!

Categories:

Professional Liability Insurance/PLI

(Errors and Omissions Insurance)

  • Flawed professional advice and services that may have resulted in financial loss to the customer or client.
  • Protects professional individuals or companies from responsibility of the full cost of defending against a negligence claim and damages awarded in such a civil lawsuit.
    • Professional liability insurance covers the costs of judgments, settlements and legal defense.
    • Damages paid under a professional liability policy are typically financial rather than physical.