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What insurance does an architect need?

If you're starting up a firm of architects, you'll need to find out about insurance. What insurance does an architect need to have in place in order to operate as any other business would and what insurance is necessary only when a major project is won? We've got some advice that should make things clear.

Commercial general liability

Before the doors open for business and clients are taken on your firm will need to have commercial general liability insurance in place. A CGL policy will protect your business against liability claims for bodily injury and property damage caused by your direct or indirect actions.

Professional liability insurance

When a major project is won, this is an insurance policy you'll need in place. This is an insurance that will protect your architectural firm and your employees against claims alleging negligent acts, errors, or omissions in the performance of architectural services. Don't make the mistake of overvaluing this type of insurance and under appreciating the type of cover it offers because PLI really comes into its own when you're faced with legal costs to defend against a claim. Building a business takes many years, lots of successful projects and yet one client could take that away if you're not adequately covered.

Other forms of insurance

So what other insurance does an architect need? You'll obviously need other forms of insurance in order to operate as a firm including business contents insurance to protect your office and the expensive equipment within it, and some insurance cover to protect your fleet of cars if you're planning on operating one.

Final word

Now you know the answer to the question: what insurance does an architect need, you'll want to know where to look for it. The best people to approach to begin with are your current insurers but you will also find competitive quotes online through comparison sites like comparethemarket.com and confused.com.

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