Architect Insurance: Which Coverages Do They Need?

Posted on: September 24, 2020 by Huntersure

As an insurance provider for architecture professionals, you know the importance of having the right coverage level to protect against unique risks. Architects are responsible for bringing designs to life from beginning to end, which means they have many risks and liabilities to consider. An architect’s work must meet client expectations, leaving plenty of room for error. All businesses have certain risks associated with their industry but having the right types of architect insurance provides comprehensive protection from high legal costs and reputational issues.

Business Risks for Architects and Architecture Firms

While architects want everything to go according to plan and blueprint, that isn’t the case in most projects. Architecture insurance, such as architect professional liability coverage, helps professionals in the field prepare for the worst while hoping for the best.

Here are a few risks that architects may encounter on a project:

• Vendor instability
• Funding deficiency
• A project that is too complex
• Inadequate infrastructure
• Use of old technology or products
• Changes in client needs or budget
• Unplanned legislation changes

While architecture insurance can’t keep these challenges from happening, it can help if clients of an architect blame them.

Business Insurance Options for Architects

The kind of insurance an architect needs depends on whether they work as an independent contractor or run a firm. Some of the primary business insurance coverage options they may need to protect their operations include:

• General Liability: If an architect is held responsible for causing bodily injury or property damage related to the services they provide, this coverage allows the victim to make a claim for compensation. This is the most important piece of coverage architects can carry regardless of the size of their business.
• Pollution Coverage: With any form of construction, there’s a risk of runoff or pollution to the surroundings. If an architecture project causes damage to the environment in any way, this coverage helps with the cost of cleanup efforts.
• Workers’ Compensation: If a firm has employees working for it, this benefit provides lost income and pays for medical expenses if the employee develops a work-related illness or injury.
• Commercial Vehicle: No matter the firm’s size, architects most likely have vehicles they use for jobs. They need commercial vehicle insurance to cover the risks their employees face while driving throughout their workday.
• Property Damage: If an office building or equipment is damaged due to a covered cause of loss, a property damage insurance policy helps pay for replacement or repair.

About Huntersure

Huntersure LLC is a full-service Managing General Agency that has provided insurance program administration for professional liability products to our partners across the United States since 2007. We specialize in providing insurance solutions for businesses of all sizes. Our program features can cover small firms (grossing $2.5 million annually) to large corporations (grossing $25 million annually or more). We make doing business with us easy with our breadth and depth of knowledge of E&O insurance, our proprietary underwriting system that allows for responsive quoting, binding and policy issuance and tailored products to meet the needs of your insureds. Give us a call at (855) 585-6255 to learn more.

Posted in: Architects/ Engineers