Making the Move: Buying E&O Insurance for Your Architectural Firm

When your architectural firm decides that it’s time to buy your first professional liability policy, it’s a moment that marks a place in history. It means that either your firm has grown large enough to be looking to the future, they’ve just landed a huge contract, or a client has particular concerns about a project. No matter what the reason, purchasing professional liability insurance from K. L. Owens and Associates LLC will help keep your firm and employees protected.

ArchitectsWhile many smaller firms go without coverage, the truth is that most architectural firms over estimate the cost, and under-estimate the benefits of professional liability insurance. The most valuable benefit of your insurance plan will be to pay for legal costs in the event that a claim is filed. Even if you only have a limited amount of assets to loose, these costs could easily pile up and outweigh what you would potentially be losing.

Young architects should know that they can be held liable for the negligence of contractors and others working on a project. Claims can also be filed against them based on faulty cost estimates, or delays in construction. As a general rule, professional liability claims are most likely the results of a failure to manage the expectations of a project, rather than a resulting injury.

To get a quote for professional liability insurance for your architectural firm today, call us at K. L. Owens and Associates LLC! 

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