Learning and using the skill of architecture is potentially an extremely rewarding experience. Designing a building and supervising its construction, then watching people as they enjoy it, can be quite thrilling. Nevertheless, it involves risks, and one mistake, depending on how serious it is, may have terrible results. Consequently, the designer, whether an individual or a firm, could face lawsuits and therefore needs to acquire architect insurance as a protective measure.

This protection is readily available for professional architects. Fortunately, there are organizations who know the risks involved in the architecture industry, and the level of protection needed. Having worked with the best carriers, they have become experts at sourcing all the coverage that is likely to be required, at a rate that is competitive.

The types of coverage involved are general liability, professional liability, workers compensation, business owner’s policy, and excess liability. Architects who are not sure about the coverage they require and the plans they should purchase may consult risk management company. They should be experts and will often offer a free and no-obligation basis consultation.

Coverage for general liability is for the protection of architects whose clients, subcontractors, or employees involve them in lawsuits for damage to property or bodily injury. The policy covers legal defense expenses, court time, bond premiums, settlements, medical expenses, or other payments. Clients are more comfortable when architects have this policy, and it also protects the business of the firm or the individual.

An excellent plan for architects is the business owner’s policy. The reason is that the plan provides protection for three different types of liability. These are general liability coverage against property damage or bodily injury, property liability that protects physical assets, and at times, coverage for owner expenses and lost income. Architects present low risks, thus, are able to acquire this combined policy for an affordable fee.

Clients can bring lawsuits against responsible professionals for harmful miscalculations in a project. This might be costly, whether the professional is guilty or not. Errors and omissions coverage, or professional liability, covers legal defense, lost work time, or client loss or damage. This policy should always remain in force despite a project being completed. Some states require coverage for workers compensation, depending on the workforce size. There is coverage for architects and workers, and come into effect for illness or injury that is work related. Part of the wages lost and medical expenses are also covered.

At times, architects may need to add coverage to their policies. This would be the case if client contracts required the professionals to have more coverage than the amounts for which they are insured. Purchasing an excess liability policy could solve that problem without costing a lot in premiums. In the event that architects are sued for more than their general liability policies cover, the excess liability plan would pay the difference in coverage.

The importance of having protection through architect insurance cannot be overstated. Although architects, themselves, present low risks to insurers, mistakes can be made which cause clients or employees to experience harm. On those occasions, it is critical that sufficient protection is secured.

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