Insurance is a tricky thing. When you’re professional offering services, the risk of facing lawsuits for mistakes or alleged negligence can be high. That’s where Zensurance Errors and Omissions Insurance comes in. Launched by Toronto-based tech company, Zensurance, it offers an easy and affordable way to ensure you’re covered against potential financial losses due to professional errors.
Starting off, Zensurance is not a newcomer in the insurance industry. Founded in 2016, it has rapidly grown to become a leading provider of small business insurance in Canada. Trust is a big factor when it comes to insurance, and with a whopping 250,000 Canadian small businesses placing their trust in Zensurance, it’s evident they’re doing something right.
Getting into specifics, Zensurance Errors and Omissions Insurance, often referred to as E&O Insurance, is a type of professional liability insurance. It’s designed to protect you against client claims alleging financial loss due to a service you provided. Furthermore, it also covers you against lawsuits alleging misconduct, negligence, errors, omissions, and even the failure to deliver services as promised.
What makes this product shine is its special features. Instant coverage and price information are just a few clicks away, making the process incredibly efficient. Even better, with Zensurance, you can save up to a whopping 35% on your insurance. All this from a company that’s trusted by a quarter of a million Canadian businesses. Impressive, right?
But, as with any product, weighing the pros and cons is essential. On the plus side, the comprehensive coverage, savings, instant coverage, and trust factor are all significant advantages. However, on the downside, some exclusions apply to this policy. Criminal acts, violation of securities acts, cost guarantees, and incorrect profit estimates are not covered.
When it comes to the cost of this insurance, it’s pretty affordable. For a policy with a limit of $100,000, you can expect to pay an average of $250 annually. Factors like your industry, years of experience, number of employees, and more will determine the exact premium.
In conclusion, Zensurance Errors and Omissions Insurance is a reliable, affordable, and efficient solution for professionals seeking protection against possible financial losses due to errors or omissions. Although it has certain limitations, the benefits of this product far outweigh its drawbacks. Its extensive coverage, potential for substantial savings, and the simplicity of getting a policy make it a worthwhile investment.
Thus, our review is overwhelmingly positive. Whether you’re a seasoned professional or just starting, Zensurance Errors and Omissions Insurance provides the protection you need without breaking the bank.