Purchasing a Calgary professional liability insurance policy isn’t meant to be a quick and easy job. It is one of the reasons why insurance coverage in general has such a bad reputation. But here’s the thing — being covered under a professional liability insurance policy has never been that important. To make sure that you receive all the benefits of this policy without having to go through unnecessary hurdles along the way, EasyCover has compiled a list of things not to do when selecting a policy to purchase in Calgary. So without further ado, here they are:
1. Don’t select the first good one you come across. You read this right. Too often people find a good professional liability insurance policy and instantly purchase it without looking at other ones available to them. This is a bad idea. The more time you spend on research, the more money you are bound to save down the road. Don’t forget that Calgary abounds with insurance companies!
2. Don’t hesitate to ask questions. Whether you decide to hire a broker or to call an insurance company for more details, don’t hesitate to ask as many questions as needed.
3. Don’t forget to read through your policy. You’d be surprised to hear how many people actually fail at doing this! Reading through your policy is absolutely necessary for a number of reasons. First of all, insurance policies differ from insurance company to insurance company. And more importantly — you may think you are covered under a certain thing when in fact you are NOT. (And trust us: This isn’t something that you want to go through.)
4. Don’t think that just because your company doesn’t require you to be covered under this insurance policy, it’s not needed. While some companies in Calgary will require you to be covered under a professional liability insurance policy, not all of them will. Just because the company you work for is one of them doesn’t mean that you shouldn’t be covered under this policy. Remember: planning for the worst-case is always a good idea!