Architects & Engineers Professional Liability Insurance
Each day brings new excitement and challenges for architects and engineers. Unfortunately, no matter how careful you are, mistakes can happen, and when they do, it’s best to be prepared with architects and engineers professional liability insurance. Even when you are not at fault, the out-of-pocket expenses associated with a legal case can be staggering. A dedicated architects and engineers professional liability insurance broker can help you secure the coverage you need to protect your future.
What does architects and engineers professional liability insurance cover?
Architects and engineer’s professional liability insurance is a highly specialized policy, which can cover everything from personal injury claims to loss of income to pollution violations. In a lawsuit, you stand to lose more than just your career and good reputation. Design professionals can be unfairly targeted in broad lawsuits, seeking as many defendants as possible to maximize the potential payout for the victim. For example, if you designed a building in which someone was later injured, you may find yourself named in their lawsuit. Even if you had little or no personal involvement with the plaintiff, the cost of a skilled legal defense can jeopardize your financial security. In some cases, your existing assets, such as your home or car, can even be at risk. Architects and engineers professional liability insurance protects what’s most important to you while also offsetting the costs of your legal defense.
Your chosen career presents a set of unique insurance risks. Although it can be tempting to forgo your own policy, ultimately it is the best way to protect your investment in your education and your career. Your employer’s insurance provider is obligated to look out for the company’s bottom line. Occasionally, this can mean their defense team may not have your best interests at heart if the case goes to trial. If you are forced to assume full personal liability, the cost of the judgment may exceed the coverage amounts your employer maintains for employees. In this case, you can be faced with high out of pocket expenses. With an individual architects and engineers professional liability policy, you are the highest priority for your insurance provider.
Why do I need an architects and engineers professional liability insurance broker?
Whether you’re a contractor or working with a larger company, an architects and engineers professional liability insurance broker will help you ensure that you’ve selected the best coverage for your needs and risks. At Frankel & Associates, we evaluate possible policies based on a variety of factors such as premium costs, individual liabilities, loss of income coverage and the providers previous claims response history. As a result, you’re able to save time and money by considering only plans that meet your requirements!
Selecting an architects and engineers professional liability policy as an individual can be extremely time consuming and confusing. Obtaining accurate quotes can require speaking with providers directly, as well as providing dozens of personal, identifying details. When you work with an architects and engineers professional liability insurance broker, we evaluate your needs first. Every career is different, and the brokers at Frankel & Associates get to know yours before presenting you with policy options. Our focus is obtaining the best coverage for the right price, not upselling an expensive package. With our exceptional customer service, finding an architects and engineers professional liability policy has never been easier!