Energy Consultant Insurance – Protecting You From Potential Errors
Whether you specialize in commercial or residential buildings, as an energy consultant, your aim is to reduce your clients’ carbon footprints and their energy costs. With the amount of money at stake based on your audits and recommendations, energy consultants insurance is essential to protect your firm – be it a sole proprietorship or a multinational organization. Energy consultants/contractors insurance can be scaled to respond to your company’s unique needs and protect it from legitimate or meritless claims and other risks that all businesses need to mitigate.
Mistakes happen. Errors & Omissions (E&O) / Professional Liability Insurance for energy consultants can provide legal defence coverage for those mistakes in the event that, for example:
- Your energy efficiency recommendations don’t provide the cost savings or consumption reductions predicted
- A flaw in your design or an audit oversight causes your client to fail to meet regulatory conditions and is either disqualified from an incentive program or, worse, is subject to punitive fines
- An electrical fire takes place in a structure you performed an ESA audit on, and the insuring company pursues legal action against you
Legal coverages provided by E&O insurance can include lawyers’ fees, other costs to defend a claim, out-of-court settlements and damages awarded by a court or tribunal.
Other Insurance Coverages for Energy Consultants
Energy consultants face other liability and business risks as well. The following insurance coverages are recommended in an energy specialist insurance portfolio.
Commercial General Liability Insurance provides legal protection for lawsuits alleging personal injury and/or property damage caused either at your place of business or a client’s property. Commercial general liability can also cover false advertising and libel/slander claims.
Property Insurance cover for your building and contents in case of perils including fires, flood, sewage backup and others. Optional property insurance extensions include:
- Business Interruption insurance for lost income after an insured peril; and
- Extra Expense coverage to set up a temporary location following an insured peril.
Cyber Liability & Privacy Insurance the devices and networks you rely on contain highly sensitive information on your clients and your staff. A breach of your devices or network could cause a cascade of losses and expenses. Cyber insurance can provide coverage for third-party losses, ransomware costs, data and systems restoration and more.
Commercial Auto Insurance / Commercial Vehicle Insurance energy consultants are constantly on the road and as such, require commercial auto/vehicle coverage to protect them from liability in case of an accident that takes place during the course of business.
ALIGNED – You Help Clients Manage Energy Consumption, We Help you Manage Risk
Commercial insurance is all we do. Our advocates save you time, money and the hassle of shopping around for insurance policies that protect you from all sources of risk and liability and that fits your budget. We work with Canada’s top insurance companies to get you the energy consultants insurance tailored to your needs. Contact an ALIGNED advocate for a free insurance quote in minutes or get started right away by using our free online tool.