Business Insurance for
Architects & Engineers
Architects and Engineers have several different people they’re responsible for reporting to when they’re in the midst of a big project, and many different pieces of the project puzzle must come together seamlessly in order for it to be completed on time and on budget.
Whether your architectural or engineering company is small with just yourself and one or two other professionals, or you run a larger outfit with several employees, there are a number of potential risks and pitfalls you can encounter in the course of each business day. From project concept and vision to planning an all out execution, you must be prepared to deal with any hiccups that might come your way. Protecting yourself, your employees and your small business assets is both affordable and sensible to ensure the continued success and growth of your business.
General Liability For Engineers
General liability insurance helps protect you and your company assets when unexpected things happen. Whether a gas pipeline bursts or an employee accidentally spills coffee on the original blue prints for a client’s million dollar project, general liability insurance is there to help cover the associated costs and expenses your company can incur to pay for the damages.
Business Owners Policy (BOP)
Business owners insurance is designed to protect your company’s primary assets, particularly the buildings and structures that are your principal place of business. For example If your office complex is destroyed in a fire, business owners insurance will pay you for lost income and provide your company with temporary office spaces until the original buildings are repaired or rebuilt.
Commercial Auto Insurance For Architects
Whether you and your employees drive personal vehicles to a job site to oversee the progress of a project, or you transport employees and equipment to work locations so that they can accomplish specific contracted tasks, your company needs to have commercial auto insurance coverage. If anything happens to a company vehicle while an employee is travelling to or from work, or delivering blueprints to a client, business auto insurance will help cover the associated expenses if an accident accurs. This policy can replace lost company vehicles and equipment, pay for employee medical expenses and help with accident investigation costs among other things.
Workers Compensation Insurance For Engineers
If you have one or more employees in your company — regardless of whether they are an architect, engineer, secretary, or maintenance personnel — you are required by law to carry workers comp insurance. This insurance protects your firm from liability and lawsuits if an employee is injured on the job, and it pays for the associated medical and rehabilitation expenses your employee may have due to the injuries sustained.
Professional Liability For Architects And Engineers
Professional liability insurance helps protect you in the event that you make an error when providing professional services to your clients. For example if an engineer who forgets to note the location of a load-bearing wall, can be sued by a client if they suffer financial hardship due to that omission.
