Errors and Omissions Liability Insurance in Ontario

Insurance protection for companies that provide professional advice.

Did you know that your business may be held liable if one of your clients suffers a financial loss as a result of an error or omission on the part of one of your employees? If your business provides any kind of advice that could have financial ramifications, then it is important to protect yourself and your company against legal action from dissatisfied clients.

At Jeffery & Spence, we can help you understand whether Errors and Omissions Liability Insurance is a smart fit for your business. Whether you are an independent consultant, an agency owner, or a partner at a professional services firm, our team can provide a commercial insurance policy to keep you protected.

Our team will start by meeting with you to learn more about your business, then we’ll work to find you a cost-effective insurance plan that will allow you to receive the most value at the lowest cost.

Our Years of Expertise

Since 1927, the team at Jeffery & Spence Insurance Brokers have provided quality insurance services to a variety of businesses in Guelph and across Ontario. Our professional brokers will provide you with expert advice and guidance, and will locate the right business insurance coverage for you.

Request an errors and omissions insurance quote today.

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Who Needs Errors and Omissions Liability Insurance?

Errors and Omissions Liability Insurance is an important type of coverage for any kind of business that provides advice to its clients, whether the advice is related to accounting, marketing, IT, HR, or personal matters. This type of insurance is generally required in addition to your standard Commercial General Liability policy.

Here are some examples of professions and businesses that should consider Errors and Omissions Liability insurance coverage:

  • Accountants
  • Business Consultants
  • HR Consultants
  • Insurance Brokers
  • Lawyers
  • Law Firms
  • Life Coaches
  • Management Consultants
  • Marketing Agencies
  • Media Agencies
  • Relationship Coaches
  • Tech Companies
  • And more
The Jeffery & Spence team are true professionals who are dedicated to making sure you have an awesome experience. Working with their team has been great and I would highly recommend them to anyone! 10/10 - keep up the great work Jeffery & Spence.read more
Ryan Vielma
Ryan Vielma
21:03 15 Feb 19
My family and I have been insured through Jeffery and Spence for 14 years, and we will all always be loyal clients to this wonderful brokerage.read more
Ashlean Richardson
Ashlean Richardson
17:50 27 Nov 18
Have been with them for ages and wouldn't hesitate to recommend them to anyone. I have also gladly referred friends to them and they have taken good care of them as well!read more
Jason Shaw
Jason Shaw
20:38 02 Jan 18
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Ali SIDO
Ali SIDO
03:57 11 Feb 19
unbelievable service, literally saved a client of mine from a major catastrophe, highly recommend. Kyla was amazing
Andra Arnold
Andra Arnold
17:19 18 Apr 19
Excellent Customer service and communications, staff here makes me feel like part of the J&F family, highly recommend!
Rain Zhang
Rain Zhang
14:21 29 May 19
Excellent Customer service and communications, staff here makes me feel like part of the Jeffery&Spence family, highly recommend!read more
Rain Zhang
Rain Zhang
14:39 29 May 19
Awesome service, friendly advice and get what you need fast. Been a customer for over 10 years now.
Brock Parker
Brock Parker
16:03 27 Jun 19
Awesome service, friendly advice and get what you need fast. Been a customer for over 10 years now.
Brock Parker
Brock Parker
16:03 27 Jun 19
Ashlean made shopping for insurance so easy and stress free! From start to finish she was courteous and professional, listened to our needs and communicated with us every step of the way, all while finding us the best ratesread more
Chloe McKnight
Chloe McKnight
22:42 22 Jul 19
The Jeffery & Spence team is wonderful. They have insured my assets for over 4 years. When I switched over from my old provider they made it easy. They were honest and reliable. I started simply with a call out for car insurance. They were able to take a look at 5+ companies and make sure I had the proper coverage and at a great price. (They beat my old provider by $300). Slowly and surely as other asset insurance policies were coming to an end (home, business, additional vehicles) it only made sense to call over and get a quote. Additionally there is customer service like no other. I call in frequently for updates and questions and whether it’s the front desk or managers I have never felt like I was asking a stupid question. Jeffery & Spence is awesome and you owe it to yourself to just give them a call....even if your not from Guelph!read more
Corey Pavao
Corey Pavao
13:59 23 Oct 19
So over the moon happy with these guys. Specifically Dave. I was a first timer today, extremely nervous about taking another step toward “audulting” by getting my own auto insurance. And when I say nervous, I mean NERVOUS. Dave was MORE than helpful. His personality put me at ease, and the way he explained things made me go from feeling anxious to comfortable. Dave did more than help me get my own insurance. Dave made me feel like it was just a normal conversation between people. Where as other conversations have gone with other companies, I felt like a stupid kid in their 20s that didn’t know what they were doing. It’s comforting to know that now, in the future, when I need home insurance, etc. I know who to call. Thanks a million Dave.read more
Jaymee Indoe
Jaymee Indoe
18:55 21 Nov 19
Ashlean is so great to work with and she makes insurance easily accessible. I love all of the work they do in the community too. Check them out!!!read more
Heather Smart
Heather Smart
16:41 01 Dec 19
Awesome service! Jeffrey helped me find a solution for my insurance ASAP after I had such a poor experience with my previous insurer.read more
Jennifer A-M
Jennifer A-M
04:25 04 Dec 19
Expedient, professional and tailored to my needs. Highly recommend.
Annie Wong
Annie Wong
15:38 10 Dec 19
Met with Dave Jutzi and he was an absolute pleasure to work with! He created a plan to MY needs and MY budget! No pressure on me whatsoever and he really looked out for my best interest. If you're looking for extremely affordable auto and home insurance, DEFINITELY go see Dave!read more
Simon McGhee
Simon McGhee
16:38 21 Jan 20
My only regret was not calling them sooner. Ashlean Richardson went above and beyond for my company. I felt like they took me and my time very seriously and I appreciated that. Would highly recommend to my friends and family.read more
Kevin Wilkins
Kevin Wilkins
13:40 14 Apr 20

Why Do I Need Errors and Omissions Insurance?

While Errors and Omissions can protect you from the risks of providing poor advice, it will not provide coverage for any personal injury or third-party damages caused by your actions. That is why any business will need to have Commercial General Liability (CGL) coverage, in addition to Errors and Omissions insurance.

For example, if you regularly visit a client’s office for a meeting, there is small exposure to the risk of third-party injury that needs to be considered and will require CGL coverage.

At the end of the day, CGL and Errors and Omissions insurance are designed to work hand-in-hand and not independently. Typically, you will not be able to acquire Errors and Omissions coverage without already holding a Commercial General Liability policy.

How Much Errors and Omissions Coverage Do I Need?

The amount of coverage that you need will depend on the type of work that you are performing, but the limits can range from $250,000 to $5 million.

Before issuing a policy, our team will assess the potential financial consequences of an error or omission on your part. They will consider the size of the company that you’re working with and the type of contract that you have with them. This assessment will help us to determine what limit is the right fit for your business.

When acquiring a policy, you also have the option to include defense costs in your coverage or leave defense costs as an addition. Contact our team to learn more about your coverage options.

Contact the insurance experts at Jeffery & Spence today to discuss your options.