Easy and Affordable Red Deer Liability Insurance Quotes
Lawsuits are a business owner’s worst nightmare: not only can the company you’ve poured your time, effort, and money into be irreparably damaged, as the owner you could also be held personally liable. An easy and affordable way to protect yourself and your company is with Red Deer liability insurance. What’s liability insurance? If a third party (such as a customer) is injured or has their property damaged or suffers a financial loss, your business (or you) could be held responsible. Red Deer liability insurance helps protect you if that third party makes a claim against you. If it’s an insured event, it would help cover your expenses relating to the lawsuit, including legal defense costs, settlements, and awards.
At Procom, our Red Deer liability insurance brokers are here to help you protect yourself and your company. We know the risks faced by Red Deer’s businesses and we’re here to find you liability insurance that works for your needs and budget. We work with a number of Red Deer liability insurance companies to ensure you get competitive prices and choices in your coverage. That means you won’t just get one Red Deer liability insurance quote – you’ll have options! Our experienced, knowledgeable brokers identify your risks and individual company’s insurance needs. Then, we do the research and price leg work for you and can help you choose your liability insurance.
Getting the Right Red Deer Liability Insurance
Every business in Red Deer is different, and our liability insurance brokers here at Procom believe it’s important to make sure your business has the right Red Deer liability insurance coverage protecting it. There are a number of different types of liability insurance. What your business needs will depend on your industry, size, and other operational factors.
Here are the most common types of Red Deer liability insurance:
- Commercial General Liability Insurance (CGL)
- Professional Liability Insurance (PLI) or Errors and Omissions Insurance (E&O)
- Directors and Officers Insurance (D&O)
- Product Liability Insurance
- Cyber Liability Insurance
- Umbrella Liability Insurance
Red Deer Commercial General Liability Insurance
This is the most basic form of Red Deer liability insurance coverage and the backbone of business insurance. It protects your business if you’re found liable for bodily injury or property damage to a third party. In Red Deer, this could look like a customer slipping on the icy entrance to your store or an employee trips and spills their coffee all over a customer‘s laptop.
Our brokers can get your business competitive Red Deer commercial general liability insurance quotes and help you make the right decision when it comes to your insurance coverage. We help you understand your insurance and find you commercial general liability insurance that fits your needs and budget.
Red Deer Professional Liability Insurance
If you offer a professional service or advice in Red Deer, you probably need professional liability insurance. Also known as errors and omissions insurance, this coverage protects Red Deer professionals who provide a service or advice and are held liable for a financial loss of their client or third party. This can include claims of financial loss due to negligence, misrepresentation, and error – so long as it wasn’t intentional.
Professional liability insurance protects Red Deer professionals and contractors in business, project management, financial services, marketing, health services, and more areas protect themselves financially. If your business contracts or provides a service or advice, it’s critical that you’re covered in the event of a lawsuit related to your client or a third party’s financial loss. Even if the claims are false, lawsuits are incredibly expensive.
While commercial general liability insurance is beneficial in protecting your business, it doesn’t usually cover claims arising from professional services or advice your organization provides. Luckily, Procom offers Red Deer professional liability insurance. If legal action is taken against you by a client because they believe that the advice or professional service you provide has caused them financial losses, our professional liability insurance can help offset the legal costs.
Red Deer Directors and Officers Insurance
If you’re a business owner, director, or hold an “officer” title in Red Deer, you can be held liable for “wrongful acts” and sued. This includes causing financial losses, wrongful dismissal, discrimination, environmental damage, and more. Red Deer directors and officer‘s insurance covers the defense costs related to these accusations (if they’re an insured scenario). This type of policy can be held by a company or by an individual such as the business owner.
Our Red Deer liability insurance brokers are a great resource for determining if you need this type of coverage for yourself or your company.
Red Deer Product Liability Insurance
If you sell or supply products in Red Deer, you may want to protect your business with Red Deer product liability insurance. This insurance coverage can cover legal costs if a third party is injured or has their property damaged by the products you sell or supply. Products can include software, vitamins, food, electronics, clothing, and more.
We provide competitive Red Deer product liability insurance quotes and are happy to help answer any questions you have about this coverage.
Red Deer Cyber Liability Insurance
This type of liability insurance protects your business from financial losses resulting from digital security breaches or physical theft of your electronics. As most businesses store customer data digitally and many operate online, this coverage is absolutely critical for all Red Deer businesses. Security breaches can be incredibly expensive and difficult to deal with – Red Deer cyber liability insurance makes it easier.
We offer cyber liability insurance quotes for Red Deer businesses and can help you manage your risk for breaches and theft.
Umbrella Liability Insurance
This is a special type of Red Deer liability insurance. It extends your liability coverage to provide protection for things not covered by other liability policies and to provide additional funds in the event your other liability policy limits are reached. For example, let’s say you had a professional liability insurance policy and an umbrella liability insurance policy. Due to an expensive lawsuit, you reach the policy limit of your professional liability coverage – that’s the maximum amount that will be paid out. Umbrella insurance would then kick in to help cover the rest of your legal expenses for that lawsuit.
Why Get Red Deer Liability Insurance?
Lawsuits are scary. Not only can they damage your reputation, they can financially cripple a business or even you personally. Red Deer liability insurance can help cover your legal costs and other expenses in a variety of circumstances. This can mean the difference between survival or financial ruin for your business.
Imagine an instance where a client trips and injure themselves in your store or restaurant or office. They file a lawsuit against your company. What then? Lawsuits can be costly, and if your business is small there is a chance you might not be able to recover from the financial havoc a court case can incur. With a commercial general liability insurance policy, you’d likely be covered in this scenario.
Here’s another situation where having Red Deer liability insurance would be beneficial for your business: let’s say you sell coffee cups and lids to Red Deer businesses. It turns out that a number of the lids were faulty and caused hot coffee to spill and cause burns. This would be a product liability claim (or a bodily injury claim if it happened in your own coffee shop) – the right Red Deer liability insurance could help protect you in the event you’re sued.
Finally, let’s say you’re a business consultant or project manager. Your client takes your advice and ends up losing money. They could sue you for financial loss due to your bad advice. Professional liability insurance would give you peace of mind because you’d likely be protected from the expense of a lawsuit.
While Red Deer liability insurance won’t offer coverage for everything (in particular, intentional criminal acts), it does offer protection for your business and yourself. At Procom Insurance, we make it easy to get a Red Deer liability insurance quote and our knowledgeable brokers can help you understand your risks and insurance.