Insurance covers a wide range of incidences to protect you and your firm from financial hardship. Whether you’re a sole proprietor or large company, here are three major reasons you need architects and engineers professional liability coverage.
Mistakes happen, but they can have detrimental effects. Not only do mistakes lead to unhappy clients, they can also lead to personal injury or death. If you or someone at your company makes a mistake on a project, your insurance can help pay for legal fees and other charges that may accrue.
2. Violations of Terms
If you breech a contract, your clients can sue you and charge you for violating the terms of your agreement. To help offset the cost of contractual disputes, your insurance can step in to pay court fees and client charges.
Regardless if you intend to act negligently or simply overlook the details, professional negligence is a severe penalty and can incur significant costs. Insurance can front legal fees and help you rebuild your reputation so that a negligent event doesn’t affect your future business.
Ready to Protect Yourself?
When you’re ready to purchase a plan, call an insurance agent who specifically provides architects and engineers professional liability. Talk with the agent about the nature of your services to make sure you get all the coverage you need.