What Coverages Do Architect Policies Provide?
There are many protections that architect policies may make available as standard or optional coverages. A few of the more common ones include:
- Commercial Property Insurance, which might cover firm-owned buildings and equipment
- Commercial Vehicle Insurance, which might cover firm-owned vehicles and work-related auto accidents
- General Liability Insurance, which might cover basic accidents and defamation lawsuits
- Pollution Liability Insurance, which might cover air, ground or water pollution caused by a building project
- Architect Professional Liability Insurance, which might cover errors an architect makes in their work
In addition to these, architect firms might also need workers compensation. Workers compensation coverage is a widely used protection that typically guards against job-related injuries and illnesses, and it’s frequently required by state law when a business has employees. If workers compensation is needed but not available through an architect policy, it can easily be obtained via a stand-alone policy that offers the one coverage.
What Should Architects Look for in Architect Professional Liability Insurance?
Architect professional liability insurance is a form of errors and omissions insurance, or E&O insurance, that’s tailored to the risks architects face. When reviewing a policy’s architect professional liability insurance, architects may want to consider how the policy would handle the following errors and mistakes:
- An erroneous or bad design results in damage to a building
- A failure to effectively communicate plan, material or timeline changes causes problems
- A wrong material is used in a building project
- A project isn’t completed on time
- A projects’ cost run over-budget
An insurance agent who specializes in architect professional liability insurance can help architects and firms review a given policy’s coverage so that they understand how well each of these (and other) scenarios would or wouldn’t be covered by the policy.
What is Design and Build Insurance?
Design and build insurance is a form of professional liability insurance (or E&O insurance) that can be useful when a single entity acts as both the designer and the builder on a project. This insurance typically covers both design-related risks and risks that come up during the actual construction of a building.
Businesses that might need this form of professional should speak with an insurance agent who’s familiar with the coverage about their situation. Most agents who specialize in architect professional liability coverage can also help with design and build insurance.
How Can Architects in Massachusetts Get Architect Insurance?
For help finding architect insurance in Massachusetts, contact the independent insurance agents at Scotti Insurance Agency. Our agents can request architect policies from multiple insurance companies in the state on your behalf, and they have the expertise needed to help you determine which one is best for your situation.