Insurance for Architects

Why do Architects need insurance?

Don’t let a potential mistake that falls through the cracks become a permanent problem. Instead, let BizCover ease your worries with insurance for architects. With just a few clicks or a single phone call you can get covered instantly, so the only thing that needs to stand the test of time is your grand design.

As Frank Loyd Wright once said “You can use an eraser on the drafting table or a sledge hammer on the construction site”…. or you can use BizCover!

What types of insurance do architects typically consider?

Professional Indemnity

As an architect or draftsperson, you understand the challenges of designing and delivering complex projects. Your work has the potential to cause serious issues if things do not go according to plan. A simple error or omission could lead to a costly Professional Indemnity claim.

Thankfully, Professional Indemnity insurance is designed to provide your business with a solid plan. It helps protect businesses and individuals that provide specialist services or professional advice from losses caused by actual or alleged negligence in the advice or service provided. For Professional Indemnity claims indemnified under your policy, it will cover the compensation payable to a third party together with defence costs (which can include legal fees, investigation costs and expert fees).

Did you know that PI insurance is known as ‘claims made’ cover, which means you need PI insurance to be in place when the claim is made against you. So, even if you have shut up shop, retired or decided you’d rather be sipping cocktails on a tropical beach, you should consider run-off insurance which continues to provide important Professional Indemnity insurance for your business for any claims arising from work you do before finishing up but which are notified to you after the doors have closed.

Public Liability Insurance

Do you need Public Liability insurance? The short answer is probably yes. Chances are you’ll have regular contact with clients, contractors and the general public. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.

Business Insurance

Your clients bring in your income, but where would you be without your business assets? Without insurance cover, you could be hit with a few unwanted challenges that could leave you reaching deep into your pockets.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances.  In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.

Management Liability

If you’re a company director or senior manager, we’re sure you don’t want any unwanted surprises that may leave you personally liable. Management liability insurance protects directors and officers and the insured company itself from the many exposures relating to the management of a company. Owners and those responsible for the management of a company have specific responsibilities which can result in personal liability for alleged or actual wrong–doing.