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Professional liability insurance for architects
The foundations for essential protection
The role of an architect is undoubtedly an exciting and rewarding one. Months of slavish attention to detail over the drawing board result in that perfect synergy of design and space, a permanent reminder of a job well done.
Well, that's how it's supposed to be.
Unfortunately, it doesn't always turn out that way. However careful or experienced you are, mistakes happen. And when they involve construction, mistakes can be extremely costly.
Why do architects need professional liability insurance?
Now, we're well aware that claims very rarely arise from a lack skill or knowledge; they're far more likely to be caused by an administrative error or a dispute that escalates out of control. Whatever the cause, though, you'll still have to defend yourself, and this can be expensive and time-consuming.
That's why architects' professional liability insurance (sometimes called errors and omissions insurance, or E&O) is essential. The cover we can provide will mitigate your risks and protect your business should the worst happen.
What does architects’ insurance cover?
Professional liability, or E&O insurance can cover:
- Claims for errors and omissions – whether you made them, or not
- Damages – if you’re found liable
- Legal defense expenses – including getting you an attorney, if you need one
- Claims made over past work
- Claims made against you worldwide – as long as they’re filed in the United States, a U.S. territory, or Canada
What other types of insurance do architects need?
Aside from coverage for professional errors or oversights, if you visit clients, or they come to you, you’ll need general liability insurance.
It covers you for personal and bodily injury claims made against your business as well as property damage.
You might want to add business personal property insurance (BPP) to your general liability policy. It covers the equipment you use to run your business. When you’re out and about seeing clients, or in your office.
You’re required by law to have workers’ compensation insurance. Even if you only have one employee. It’s good to have, though. Because the cost of workplace injuries could cripple your business. Workers’ comp can cover medical bills, missed wages and legal expenses, if you’re sued.
You should also consider cyber liability insurance. It can’t stop a data breach. But it can pay for the recovery costs. And as that includes regulatory fines, lawsuits and restoring your systems (as well as your reputation) it means your business will survive one.
But every architectural firm is different, which means your insurance requirements are, too. We can design coverage to suit your unique needs, in minutes. And you’ll be covered immediately.
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