Copyrights in Design Professionals ContractsArchitects and Engineers Business Owner Policy quotes, what information is needed to quote?

Here is a list of some of those items that may be required.

Location Address – The insurance company will need the location address and information about the specific location.  The requirements are the age of the building, if the building is over 30 years old more details of the updates of electrical, heating, plumbing and roof.  Number of stories of the building, construction type, total square footage of the building and square footage of the space your firm occupies.  Are there other occupants of the building and if so, what types of businesses are those?

Mailing address – occasionally the location address and mailing address are different.  If they are different provide the mailing address as well.

Business personal property – What is the replacement cost of your business personal property?  This includes everything from paperclips to desks.   Don’t forget to include your computers in this as well.

Current coverage – does your firm have a current policy in place?  If so, what are the limits and deductible?  Have there been any claims?  If there have been claims, what are the details?

Other questions that may be asked are number of employees at your firm? Does your firm have a Workers Compensation policy?  Does your firm have a Professional Liability policy and if so what are the limits and deductible?  Does your firm hire sub-consultants?  Do you own or operate any other business?  If so, the details of that business and does your design firm do business with the other business?  Does your firm have a landlord and will they need to be an additional insured on the business owner policy?

As always your PUI Agent is here to help you with the Business Owner Policy application process.  Please call or email with any questions you may have.