Insurance for Drafting Services

This industry is made of workers that draw layouts, illustrations, and plans of buildings, structures, or components from architectural and engineering specifications.

The most common risk that a drafting service faces is a final draft not meeting the client’s specifications. This usually ends up that the client sues your company for the mistakes on the final draft. Additionally, any services promised to your clients are your responsibility. If a draftsman fails to deliver that promise, you are at risk of a liability lawsuit.

Other risks include:

• Your employees getting sick or injured on the job. Your business is responsible for paying for the medical and rehabilitation fees.
• Your property gets destroyed by fire or earthquake.

These are just some of many risks, so it’s best to secure insurance before starting your work.

The cost of an insurance policy varies from business to business. Typically an insurance carrier will ask for the type of business, the number of employees, your annual profit and the coverage needed before providing a quote. Without these criteria, below are some typical small business policies for draftsman services:

• General Liability insurance costs $350 in annual premiums.
• Business Owners Policy (BOP) costs around $500 in annual premiums.
• Umbrella Insurance costs around $400 in annual premiums.