Design Professional Liability

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You must have a creative sort of spirit to be in any part of the design industry. Whether you are an interior designer, engineer, graphic designer, industrial designer, or architect, you have an eye for what works. Clients depend on you to design them a perfect product, and when the project may turn out to be less than they expected, problems can arise. Unfortunately, some things may work against you regardless of how well you prepare. Weather, materials, and being human are all things that could potentially impact your ability to complete your projects. Luckily, CoverWallet has a solution for you. Design Professional Liability insurance. Professional Liability insurance for designers is an Errors and Omissions policy designed to protect you and your business.

What Are Some Common Professional Liability Risks for Designers?

Providing design services can be a rewarding career, but it also comes with its fair share of potential risks.

  1. Making mistakes is one of the most significant risks that design professionals can face.
  2. Carelessness can cause issues, whether you have intended to be careless or not.
  3. Delay in getting the project completed can cause a customer to become dissatisfied and bring a lawsuit against you.
  4. The design being executed incorrectly can also come back to you if it is proven that your plan was flawed.

What Does Design Professional Liability Cover?

Unfortunately, it is pretty common for people to sue for what ends up being an unfounded reason. As one part of risk management, you need to protect yourself. Professional Liability for designers offers essential coverage including:

  • Errors & Omissions - If you make mistakes or forget to do something that you promised to do and this causes a lawsuit to be brought against you and your business the policy will respond.
  • Defense Costs - Let's say you know you didn't do anything wrong, but you have been brought into a lawsuit anyway. Regardless of your fault, you still have to pay court costs and attorney's fees to prove that you are innocent. If you haven't been sued lately, let us tell you that these costs can add up to tens, if not hundreds, of thousands of dollars. Most people do not have this kind of money lying around. Your Professional Liability insurance policy will cover these significant costs.

Keep in mind that Professional Liability is a claims-made policy, which means it needs to be active in order for there to be coverage. So, even if you close shop, you should keep active coverage for any future claims that may arise. If you don't want to continue to pay for Professional Liability insurance for designers, ask your agent about tail coverage.

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How Much Does Professional Liability for Designers Cost?

As mentioned above, one lawsuit can cost thousands and thousands of dollars, so the price of a Professional Liability insurance policy for designers will pale in comparison. Because each design professional offers different services and advice, there is no standard cost. CoverWallet works with several insurance companies that provide this critical insurance policy so that we can find you the best price and best coverage. The best news is that we can bundle all of your insurance needs.

Some other insurance policies that you will need to consider are General Liability for slips and falls, Workers Compensation if you have employees, Excess Liability insurance to cover any potential gaps, and Commercial Auto insurance if you use your car or truck for work. While this is a comprehensive list of coverages, it is not inclusive. Our team of educated advisors is standing by to help you sort through all of the options based on your unique situation. Give us a call today and take the first step in protecting yourself and your business.

Business Insurance

Running a business is challenging enough without having to worry about lawsuits, employee injuries or property damage. Having the right insurance gives you the peace of mind to focus on what matters - running your business.

The coverage you need depends on the type of business you run. A restaurant owner needs to be covered against customers possibly getting food poisoning while an accountant needs to be covered against calculation errors. CoverWallet's intelligent assessment system will identify the insurance you need based on your specific business, get you a policy that fits your budget, and do it all in less time than you think.

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