Some architects may not fully be aware of the importance of carrying architect professional liability insurance. These valuable policies protect architects in the event that they are found liable for damages directly related to their projects.
Architects Have Unique Exposures
Many different service-oriented professionals carry liability insurance. Also known as errors and omissions insurance, this kind of policy is meant to guard against the occasionally significant expenses that a firm or individual can incur when things go wrong while doing business. Different kinds of businesses require different kinds of coverage. An architect, for example, must protect himself or herself differently than a doctor, a hairdresser, or an accountant.
Specialized Insurance Offices Can Help
When shopping for architect professional liability insurance, it is important to solicit quotes from insurance companies who are familiar with the unique exposures that are faced by architectural firms. Companies with experience selling and dealing with architect insurance claims will be able to make sure you are covered for the kinds of claims you are most likely to have filed against you. They will also be less likely to charge you for coverage you do not really need.
Purchasing architect professional liability insurance for you and your firm from an agency who is experienced in handling architect errors and omissions claims is a responsible business decision every savvy architect should carefully consider.