Don’t Be Caught Without Architect Professional Liability Insurance

Have you underestimated your insurance needs? You may be just starting out, working on small projects where your clients haven’t required architect professional liability insurance, but that doesn’t mean it’s not important to your firm. When you are on your way to success, it’s important to protect your assets. Don’t think your clients won’t sue if their project isn’t going as planned. As an architect, you could be sued if anything goes wrong with the project, even if it isn’t under your control. Many times, a client will sue the contractors and planners, without consideration as to who is at fault.

Architect professional liability insurance provides the legal costs for a defense when your firm is sued. If you haven’t priced the cost of lawyers and expert witnesses lately, you could be in for a sticker shock if your business has to absorb the cost of your defense. Insurance hedges your bets in case the worse happens.

Always make sure to discuss the limitations of your insurance policy with a qualified agent, so that you understand what situations are covered and are not. With your insurance, you can also work to devise a risk management policy that protects you against claims before they happen. Your insurance specialist understands your industry and can help identify contract information that can prevent many lawsuits from happening.

This post was written by , posted on May 22, 2015 Friday at 1:30 pm

Leave a Reply

Your email address will not be published. Required fields are marked *

three × five =