Insurance for Architects

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Why does an Architect Need Insurance?

Architects are known for their vision. Your ability to see to design buildings and bring them to life is a true gift that clients rely on you for daily. As an architect, you also hold the weight of every project on your shoulders because one missed step or overlooked building code can be devastating to your professional career. Insurance for your architect business is a smart decision and can help maintain your reputation, financial resources, and future projects in the event of a lawsuit.

Professionals in this industry are responsible for the planning and designing of buildings (residential, commercial, and industrial). They are responsible for understanding building codes and materials, and zoning regulations.

Risks Architects Could Face

Architects face many risks on every project including:

  • Stolen Materials: In some cases, architects manage the supplies and materials needed to build their design. These materials are often left on site over night, making them readily available to those passing by. Replacing these materials can be expensive if they are stolen mid-project.
  • Third-Party Injury: Many job sites are left unattended in the evening. Depending on how accessible it is, kids may be tempted to browse the area. If one of them trips and breaks a leg, you can be held liable for not maintain a safe environment even though they should never have been there.
  • Faulty Design: Architects rely on engineering teams to make their design happen. You can still be sued when engineering errors occur because they use your design as their map.
  • Overbudget: In the beginning stages of any project there is a budget. Your clients expect that you stick to this budget. If you fail to, you can end up stuck paying the difference because you breached your agreement.
  • Destruction of Files: These days most designs are completed electronically. What happens if your digital files are destroyed? How much time will you need to reinvest if you don’t have a backup? How much will that cost your business?

Types of Coverage Architects Need

In addition to basic general liability insurance, every architect needs errors and omissions insurance. If you have employees, you also need workers comp and employment practices liability. If your firm has business vehicles or employees drive personal vehicles to job sites, commercial auto insurance is a must.

  • Errors and Omissions: Also known as E&O or professional liability, this covers you for any potential mistakes including breach of contract, budget issues, faulty design, or any other decision that causes a bad outcome for your client.
  • General Liability: Protects when a third-party is injured on your property by paying medical bills, settlement, and defense costs. It also includes coverage for damaged property and libel and slander claims.
  • Commercial Property: Covers all of the property you own to run your business from acts of nature like fires and theft.
  • Cyber Liability: Pays costs associated with cyber breaches including notifications, public relations, and investigations. Some also includes coverage for replacing digital assets like designs when they are accidentally damaged.

How Much Does Architect Insurance Cost?

Every carrier has a different opinion on insurance for architects. Some avoid your industry altogether. The majority will want to know your safety procedures, what types of contracts you use, and your experience. Cost is also impacted by whether you buy architect errors and omissions insurance. You request an insurance quote online today for the policies you need most by clicking on the form below.

What type of insurance does this industry need?

Policy What is it? Why get it Popularity in your industry Want free quotes?
General Liability
This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy. General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.

What is it: This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy.

Why get it: General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.

Professional Liability
This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to a mistake or error made in a professional capacity. Your business may have contracts with clients or partners that require Professional Liability coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.

What is it: This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to a mistake or error made in a professional capacity.

Why get it: Your business may have contracts with clients or partners that require Professional Liability coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.

Commercial Property
This policy protects the business's physical assets and is appropriate whether you own or lease your space. Keep in mind that this policy will only offer protection in the case of covered events. If you need protection for certain scenarios, such as floods or earthquakes, you may need additional coverage. If you have a mortgage or a lease, you may be required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident.

What is it: This policy protects the business's physical assets and is appropriate whether you own or lease your space. Keep in mind that this policy will only offer protection in the case of covered events. If you need protection for certain scenarios, such as floods or earthquakes, you may need additional coverage.

Why get it: If you have a mortgage or a lease, you may be required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident.

Errors & Omissions (E&O)
This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to an error or omission on your part. Your business may have contracts with clients or partners that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, E&O coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.

What is it: This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to an error or omission on your part.

Why get it: Your business may have contracts with clients or partners that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, E&O coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.

Workers Compensation
Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work. Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.

What is it: Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work.

Why get it: Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.

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