QuotesMy Design Professional firm has quotes from several Professional Liability carriers, how do I decide on which carrier?  This is a very good question and with more than 50 markets offering Professional Liability policies it can be very confusing.

The first question you should ask yourself is the insurance carrier financially stable?  This can be determined with an AM Best or Standard and Poor’s rating.  All of the rating information is accessible online on the websites of these agencies.

Another question to ask yourself is this a carrier that my firm has been working with in the previous years.  If possible it is best to stay with a carrier that you have been insured with for a while.  Many carriers will offer credits based on your firms longevity with the program.

Other considerations when reviewing Professional Liability quotes is it the limits of liability and deductible my firm is seeking?  It is important that you have the options you require when you are looking for a policy.  Along with the limits and deductible is does the premium make sense for your firm?  You want to make sure that the premium of the policy fits within your budget.

Be sure you review the policies of the carrier’s quotes you are interested in.  It is imperative to know what are the exclusions or special endorsements on the policy.

Claims handling is always a significant when you are purchasing a Professional Liability policy for your design firm.  Ask your agent what their experience has been with the carrier on how they deal with claims.

A very important resource for reviewing the Professional Liability quotes is your PUI Agent.  We are here to help in any way we can and answer any questions you may have on quotes.