The business owner policy includes some standard policy endorsements for architects/engineers. However, there are a few areas that can be changed in the policy.
As with all policies, your firm’s name and address can be changed. If you have additional firm names, be sure to advise of those additions to include in the policy. If your firm has multiple locations that does need to be included in the policy. Even if it is just one employee working in a different state, that does need to be reflected in the policy and the business personal property needs to be identified for each location.
The general liability limits can be adjusted on the business owner policy. If your firm has $1,000,000 per occurrence and $2,000,000 aggregate, this can be increased for an additional premium to $2,000,000 per occurrence and $4,000,000 aggregate. With most insurance companies the highest limits available are $2,000,000 per occurrence and $4,000,000 aggregate. If your firm needs higher limits, it is advised that your firm considers an umbrella policy to have higher limits available.
A blanket additional insured endorsement is a common endorsement on most policies, but if your firm does not have this on your policy ask your insurance company about adding the endorsement. The additional insured language is a common request from your firm’s clients and may be needed. In most cases your firm’s contract with your client will need to address the additional insured language.
Hired and non-owned automobile liability is another coverage that is typically included. This is a common contract language request and can be added if not already included.
If your firm has any questions with regards to changes to the business owner policy for architects/engineers please call, or email, your Professional Underwriter agent for assistance.