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What Coverage

does your business need?

As a small-business owner (or someone thinking about opening a small business), your head is probably spinning over the choices when it comes to the types of insurance coverage your company needs. It’s important how each type of coverage protects you, your employees and your business.

Architect Insurance

Architect businesses are responsible for designing and renovating a variety of different structures. This can include everything from commercial building and apartment complexes to bridges and residences. Architects responsibilities range from the early design stages up to the planning and construction process. The most common business risks for architects relate to the services provided, potential injuries and general liability as well as claims from clients. Protect these risks by getting architect business insurance.

Types of Architect Business Insurance

There are many different types of risks for architect businesses, so keep them in mind when choosing insurance. The following types of insurance policies cover the various risks you’re exposed to.

Architect Business General Liability Insurance

The first type of insurance policy for architect businesses is general liability, which includes coverage for premises liability and completed operations. Premises liability is beneficial if a client is on your business property and gets injured, perhaps from tripping over blueprints that were left near your office entrance.

Architect Business Commercial Auto Insurance

Business auto insurance is in place to protect any personal vehicle you use for business errands. As an architect, much of your time is spent on job sites or at client’s places of business, therefore you’re risking a vehicle collision every time you’re on the road. If you do get into an accident, the vehicle damage and bodily injury for you and other drivers involved, is covered by business auto coverage. You can also opt for other coverage, like for theft and vandalism.

Architect Business Business Property Insurance

To protect your business property, it takes more than taking extra safety precautions. This is because many events that affect your property can’t be prevented, such as fire, earthquakes and other natural disasters. The best thing you can do is get business property insurance to help recover from the damages. It helps you replace what was destroyed and repair your business structure.

Architect Business Professional Liability Insurance

One of the biggest risks you have as an architect is that of mistakes that you  might make. This could be an honest mistake where miscommunication was involved, but you are still responsible for any physical, property or financial damages it caused. Professional liability insurance, also referred to as errors and omissions,  will protect you from any legal claims or lawsuits relating to your services as an architect.

Architect Business Workers’ Compensation

Protect your employees by getting them coverage from workers’ compensation. Most states require worker’s comp by law, though the specific laws of who and what is covered is slightly different for each state. Whether it is required or not, it is a good idea as it covers any work-related injuries or illnesses. For employees working off-site, they are dealing with many hazardous situations which could cause injury. If an employee does get harmed at work, workers’ comp covers medical costs, recovery and lost income if they’re out of work due to the injury and recovery period. It also prevents your company from being sued for damages.

Architect Business Crime Insurance

Crime insurance is another architect business insurance policy that covers various crimes you’re exposed to, such as employee dishonesty like embezzling money, theft, vandalism and fraudulent activity. Clients paying for services in a fraudulent manner or employees who work in accounting and are embezzling money can cause you a big loss in business income. Protect your business from this type of loss with a crime insurance policy.

Architect businesses have a lot to deal with, including meeting your client’s requests and dealing with fluctuations in the economy. Don’t make it more difficult to hold on to your business by not getting adequate architect business insurance. If you choose from these business insurance policies and cover your biggest risks, you can continue running a successful architect business.

What Coverage does your business need?

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Typical coverages for this profession are: