When operating an architecture business, getting business insurance coverage to protect your office should be top priority.
Also known as errors and omissions insurance, covers lawsuits related to your work against claims from clients such as accusations of mistakes/errors or negligence in the performance of professional duties. Professional liability insurance would cover your legal fees and any required settlement.
General liability insurance protects your business from financial strife of customer's legal or medical costs for injuries while on your business’s property or as the result of your business operations. This will cover your legal defense and the costs associated with the loss if you are found liable, up to your policy limits.
Workers compensation insurance is required by law in most states of the US for architechtural business. If an employee is injured in a work related accident, workers compensation will pay for their medical care and recovery expenses. Your business will also not be responsible for the damages or sued by your employee.
Property damage, whether it is from fire, extreme weather conditions, or natural disasters, flood from severe rainstorm, property insurance would cover the cost of repairing or replacing your business-related property including structural damage to your building and the business materials you store there.
Even if you choose your employees carefully with background checks and verifying references, you still run the risk of dishonest employees. Losses by crimes including vandalism, theft, fraudulent activity and embezzlement by your employees and clients are covered by obtaining crime insurance.
Vehicle used for business operations such as visiting a job site, meet with a client, or pick up building permits or office supplies should be covered by business auto insurance. Business auto insurance provides coverage against accidents, theft, or vandalism while using your vehicle for business purposes.
The risks for an architecture related business can be very wide because of the many different exposures involved with your business activities. Naturally you want to make your buyers happy and keep them as safe as you can while also protecting your business and keeping it profitable at the same time. With the right kind of business insurance for architechture firm as a safety net, you can focus on your work with confidence.
Due to the nature of operating a business such as this, you’re exposed to a variety of risks as accusation of mistakes, claims of services provided, potential injuries, unexpected disasters, property damage and other potentially expensive problems.
Running an architechture business without insurance is taking a mighty huge risk. Our broad, tailored coverage options and enhancements are based on our deep knowledge and experience in the architect office insurances, and specifically designed to meet the needs of our customers.
At Business Insurance Agency, we will take the time to get to know your business and assess the risks involved in your business, and can assist you with the right coverage options you need at an affordable price.
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