Professional Indemnity Insurance for Architects
If you are an architect then you need protection against liability suffered in business or in practice and it is important to have this in place as it protects both your business and your client. When allegations of professional negligence are made, they often involve an intricate and detailed issue which means litigation can become costly and stressful. Professional indemnity insurance is therefore essential to protect you and your business against any potential claims.
We can help you to find the cover you require at a price that will not break the bank. We will look at your business and assess any risks and then look to put a policy in place that will ensure you are protected. Unlike many other professions, the work carried out by an architect really does stand the test of time but unfortunately it can take years for problems to emerge with no prior warning leaving you in difficult should you not have cover.
PI Insurance For Architechs
Having cover in place will reassure you that you are covered and that you are covered for errors, negligence and any other problems that may arise. It is important to understand that there are many risks involved when you run a business but having professional indemnity insurance for architects will provide peace of mind for both you and your clients.
How does it work?
The importance of having professional indemnity insurance should not be underestimated but if you provide a service then it is imperative that you are covered. This is also known as a “Claims Made” insurance which means that any claims should be made during the period agreed as part of the cover. Should your client experience any losses or problems as a result of negligence your work and they put attempt to sue you for damages you can relax knowing that you have cover in place to deal with any costs going forward.
Having professional indemnity insurance provides the following features.
- Your business will receive excellent protection with our cover
- A payment will only be released once the credibility of the claimant has been recognised
- You will have the cover you require in one neat policy with it providing protection for one year
- It will become an important part of your ongoing costs and this will help you t realise its importance
- Any costs that are incurred as a result of defending yourself following a claim will be covered
- For the duration of your cover, the policy put in place will be written on a “claims made” basis which enables you to be fully covered should any claims be made against your whilst the policy is in place
- Indemnity available in different amounts
- Loss of important documentation is covered
- Court attendance costs are covered
- Different payment options are available to you
What are the benefits?
There are many benefits that come with professional indemnity insurance.
- You will have peace of mind knowing that you are adhering to all legal and regulatory requirements
- You will have the ability to defend any claim made against you which provides security and reassurance
- If the courts or arbitrators decide to award your clients compensation, you will be able to comfortable cover any costs
- Any legal costs will be covered when you are defending a claim, even if the claim being made has no substance
- You will receive expert advice as well as representation as needed
- It will enable you to operate as usual and this is vital to keeping your business running
- It shows that you are not only professional but also reliable because you will give you clients confidence in your business