Architect Insurance
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Insurance designed to protect your Architects business
BizInsure lets you get quotes and buy insurance online in minutes to protect your business from accidents, injuries, legal fees and damaged vehicles. Our insurance packages typically include:
- General liability
- Professional liability (E&O)
- Workers compensation
- Business Owner’s Policy (BOP)
Choose the Cover that Suits Your Business
With BizInsure you can choose to pay for your insurance monthly or annually and you can also choose buy your insurance online or over the phone.
- Professional Liability
- Per occurrence $500,000
- General Liability
- Per occurrence $1,000,000
- Workers Compensation
- Per accident $100,000
- Commercial Property
- Per occurrence $25,000
- Professional Liability
- Per occurrence $2,000,000
- General Liability
- Per occurrence $3,000,000
- Workers Compensation
- Per accident $1,000,000
- Commercial Property
- Per occurrence $25,000
Professional Liability insurance
Also referred to as E&O insurance Professional Liability insurance covers claims made by a third-party alleging that they suffered financial harm due to the advice or services your business provided.
Your Professional Liability insurance coverage will often extend beyond a project’s completion, to cover issues that may appear after your work is finished.
Professional Liability can cover:
- Legal expenses
- Claims made by a third-party
General Liability
This type of policy can protect you against third-party claims regarding injury or damage to their property. Your policy will cover the legal expenses and cost to replace or remedy the situation up to the limits of liability in these instances.
General Liability can cover:
- Legal expenses
- Cost to replace or remedy the situation
Business Owner’s Policy
This is a combination of policies, that help protect small businesses from costly interruptions to service.
A BOP commonly combines:
- General Liability insurance and business personal property coverage into one convenient policy.
Workers’ Compensation
These policies shield your business against medical expenses and lawsuits resulting from employee workplace injuries and serious illnesses.
Workers’ Compensation insurance typically also pays:
- Lost wages as a result of the employee’s work injuries.
- Medical expenses resulting from employee workplace injuries.
How much does architect insurance cost?
Every architect and architecture firm are different. What you could pay for Professional Liability/Errors and Omissions insurance will vary based on factors, such as:
- Your location
- Size of business
- Amount of coverage needed
- Your risk management procedures
- Claims history
The most reliable way to learn how much a Professional Liability/Errors and Omissions insurance policy that meets your needs will cost is to compare quotes from multiple insurers.
When is Architect Insurance required?
If your business involves building or designing buildings, your business faces risks around your advice, injury at work sites as well as damage to buildings and property. Here are 4 reasons you may want to consider insurance for your business:
- Professional Liability insurance is not mandated in many states, however federal law often makes it compulsory for any architect or engineer who wants to work on a government contract.
- Most companies and individuals putting contracts for design out to tender will demand that those they are working with have Professional Liability insurance.
- Whilst Professional Liability insurance many not mandated in many states – Workers Compensation is generally required.
- If you own your premises you will want to ensure your premises are protected against an unforeseen event
Frequently asked questions about architect business insurance
Here are some of the most common questions we get about business insurance for architects.
What does architects insurance cover?
Professional Liability or Errors and Omissions insurance for architects covers a range of liability claims, including:
- Errors and Mistakes
- Omissions
- Undelivered services
- Missed deadlines
- Negligence
- Breach of contract
This form of coverage is an important way for architects to help protect themselves professionally. Professional Liability/Errors and Omissions insurance pays for the legal costs associated with an above claim, up to the limits of liability, so you’re not left to pay them from your own financial accounts.
Why do architect firms need business insurance?
Architecture firms often take out different types of business insurance, including Professional Liability (also known as Errors and Omissions) insurance, to help protect themselves and their employees.
Architects regularly use their expert knowledge and skill to give clients advice that is used to make important decisions. If this advice results in a financial loss for a client, the firm itself could be found responsible. A firm may decide that Professional Liability insurance is necessary to cover their architects as they carry out work for the firm.
Architecture firms may also take out other forms of business insurance to help shield them against common risks to their business. This may include Workers’ Compensation, General Liability, or a Business Owner’s Policy. These coverages can protect against events such as workplace injuries, damage to client property, and business interruption, along with many others.
What type of business insurance do architects need?
Professional Liability or Errors and Omissions insurance is just one type of policy that architects commonly consider. Other forms of coverage may be necessary to help fully shield you from on-the-job risks that architects often face.
Other types of insurance that architects consider include:
General Liability – This type of policy can protect you against third-party claims regarding injury or damage to their property. Your policy will cover the legal expenses and cost to replace or remedy the situation up to the limits of liability in these instances.
Business Owner’s Policy – This is a combination of policies, that help protect small businesses from costly interruptions to service. A BOP commonly combines General Liability insurance and business personal property coverage into one convenient policy.
Workers’ Compensation – These policies shield your business against medical expenses and lawsuits resulting from employee workplace injuries and serious illnesses. Workers’ Compensation insurance typically also pays lost wages as a result of the employee’s work injuries.
