Insurance policies to consider for your architecture/engineering firm-

There are many types of insurance policies you can obtain for your firm, listed here are common polices for design professionals.

Professional Liability is the most common policy for architects/engineers.  This is also referred to as the errors and omissions policy.  This coverage is for design errors and omissions for your firm.  The professional liability policy will be one of the higher premiums for your firm but also where most of your firms risk is.

Business owner policy is another common policy for design professionals.  The business owner policy includes general liability, automobile liability and business personal property.  If your firm owns the office space the building coverage will also be included in this policy.

The umbrella policy is another policy that design firms purchase.  The umbrella coverage may be linked to your business owner policy or general liability policy and may also be with the same insurance company.  The umbrella is just that, additional coverage over and above the general liability, automobile liability and workers compensation policies.  It provides an added layer of protection for your firm.

Workers compensation will be required for your firm if you have employees.  This is protection for work related injuries and the requirement will vary from state to state.

Cyber liability is a policy that more and more design firms are acquiring.  This is coverage protects your firm in the event of a financial loss that resulted from data breaches or other cyber events.

Employment practices liability insurance (EPLI) provides coverage for wrongful acts arising from the employment process.  Types of claims under this policy may be from wrongful termination, discrimination and retaliation.

There are many types of policies available to design professionals.  If you are interested in getting quotes and additional information please call or email your Professional Underwriter agent.