Professional liability insurance helps protect your business if a client claims that a mistake or issue in the professional services your company provided caused them financial loss. Even with careful planning, projects don’t always go as expected, and disagreements or errors can arise. If a covered claim occurs, professional liability insurance can help pay for your related legal costs, judgements or settlements.
This coverage is also referred to as:
- Errors and omissions insurance
- E&O insurance
- Architects professional indemnity insurance
Connect with an agent to learn more about this coverage and to get a quote for your architecture business.
Architects may consider professional liability insurance because it can help cover claims that their professional services caused a client to lose money.
Without this coverage, their business would typically be responsible for paying legal costs, settlements or judgments related to these claims out of pocket.
Architect professional liability insurance can help cover claims of:
- Inaccurate advice
- Misrepresentation
- Negligence
- Failure to protect personally identifiable information (PII)
If your small business gets sued because of the professional services given to a client, this insurance can help cover your:
- Legal costs
- Defense costs
- Judgments
- Settlements
What Other Types of Insurance Might Architects Need?
Architect professional liability insurance doesn’t cover every kind of liability claim. You’ll need other
architect insurance coverage to help give your business well-rounded protection. Some other types of business insurance coverages you may want to consider include:
- Medical bills
- Lost wages
- Ongoing care costs for surgeries or physical therapy
- Bodily injury
- Property damage to another person’s belongings
- Personal injury, like libel or slander
- Height adjustable tables
- Rulers
- Adjustable triangles
- Tablets
- Computers
- Stationery
Data breach insurance, which some insurers call cyber liability insurance, to help your business respond to a cyberattack, such as a data breach. It can help cover your costs to:
- Notify impacted individuals
- Create a public relations campaign to improve your business’ reputation
- Offer credit monitoring services
Architect professional liability insurance costs vary because every business is unique and has different needs. Insurance companies use several factors to determine your
professional liability insurance cost, including:
- Years in business
- Claims history
- Number of employees
- Location
The best way to find out what you’d pay for professional liability insurance is to
contact an agent and get a quote from The Hartford.
Get a Quote for Architect Professional Liability Insurance
Choosing the right coverage starts with understanding your risks and your options. Architect professional liability insurance can help support your business if a claim arises from a mistake in the professional services you gave to a client.
A licensed agent can help you find coverage that fits your company’s needs.
Find an agent today to get a quote for architect professional liability insurance.
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