Professional Liability Insurance
As a busy professional, you are trusted for your expertise everyday.
As a busy professional, you are trusted for your expertise everyday. In fact, your expert opinions and advice are what customers pay you for. Are you protected from the consequences of claims that arise from that advice?
Professional liability insurance is the only way for your practice to mitigate the costs and legal expenses coming from claims of negligence from your customers.
In different professions, it may be known as malpractice insurance or errors and omissions insurance but at the core the concept is the same: to protect you in case of negligence lawsuits from your clients.
Negligence lawsuits focus on the failure to perform based on expectations or a contract, alleged misrepresentation, and other claims. They claim financial loss for the client based on your alleged actions.
Worried about the costs? Professional liability insurance in Guelph gives you a lot of protection for a lot less money than you'd expect.
You might think you are covered with your general liability policy but those more general policies only protect against bodily or property damage and some personal injury claims. You need a professional liability insurance policy to protect your business from potential negligence claims.
Guelph Professional liability insurance is available to professional practitioners such as doctors, lawyers, architects and accountants. This policy is used to protect a business from liability around claims of negligence
The more your assets grow, the higher your liability risks are. No matter how well you’ve covered your bases, sometimes things go wrong. A car accident. A guest who slips and falls on your property. A lawsuit. If you don’t have the right coverage, an unfortunate situation can compromise your financial security and put your personal assets at risk.
An excess policy responds when the underlying liability limits of your other policies, such as home and auto, aren’t enough to cover the unexpected costs of a lawsuit or accident.
It is important to note that most Canadian insurance policies carry on average $1,000,000 of liability coverage. This limit can quickly become quickly exhausted and is very frequently limited to North America. The Group Personal Excess policy provided by Chubb Insurance provides up to $5M of worldwide coverage which extends to all dependent member of your house hold and also provides coverage for foreign owned assets.*
* Territorial restrictions apply: Sudan, North Korea, Iran, Cuba, Syria
Personal Liability (Homeowners) for bodily injury and property damage in the minimum amount of $1,000,000 per each occurrence.
Registered and unregistered vehicles in the minimum amount of $1,000,000/$1,000,000 bodily injury and $1,000,000 property damage; or $1,000,000 single limit per each occurrence. Registered vehicles include motorcycles and motorhomes.
Uninsured and underinsured motorist protection in the minimum amounts of $1,000,000 per each occurrence. This requirement does not apply to the provinces of Quebec or Manitoba.
Watercraft less than 8 metres (26feet) and 50 engine rated horsepower or less for bodily injury and property damage in the minimum amount of $100,000 per each occurrence.
Watercraft 8 metres (26 feet) or longer or more than 50 engine rate horsepower for bodily injury and property damage in the minimum amount of $500,000 per each occurrence.
*The above liability limits must be in USD if the asset is located in the United States.
Each participant is covered for a $5 million limit of liability, and there is no annual aggregate on the policy.
Your Chubb Group personal Excess Liability coverage provides worldwide automobile rental coverage (subject to a few territorial restrictions), for up to 60 days. You can rent a car while on vacation and have coverage for personal injury and property damage without buying the additional insurance.
Yes. At the time of writing this (November 1, 2017) you would not be covered in Iran, North Korea, Syria, Cuba and Sudan. Please check with us for any changes to these territorial restrictions.
What do I do if there is an accident?
Please contact Colley Insurance at 1-888-824-0445 as soon as possible, so we can help you through the claim process.
Need any help!
Office: 519-824-4040
Toll-Free: 888-824-0445
Fax: 519-763-6839
customerservice@tgcolley.com
1 - 34 Harvard Road Guelph,
ON N1G 4V8
We would recommend Colley Insurance to any organization without hesitation