Architect Insurance that Can Win a Design Award
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Don't settle. Work with an outstanding agency to build architect insurance that you think is worthy of a design award.
We believe a lot has changed regarding architect insurance. Your firm requires reliable coverage but the question is how will you find, structure, and confidently rely on it.
Here’s how Notable Risk may change your perception of the value provided by an independent insurance agency:
1. Save time: Here, it’s all intuitive, time-saving smart forms and online applications.
2. Principal advisor: You need fast and dependable advice and solutions — work with a company leader in two clicks or speed dial.
3. Powerful technology: Your advisor should be supercharged with tech tools so that he/she is fast, analytical, accurate and communicative.
4. Concierge focus: Some companies argue they prioritize customer service and others live by it — we can’t wait for you to experience how we score on this one.
5. Value-added risk programs: Does it make sense to bind insurance, send a thank you note, and then stop there? No. Expect risk mitigation services — like digital employee handbooks and online defensive driving courses– throughout the year that help reduce exposures and create more competitive insurance applications.
Notable Risk is not required to work with 1 or 2 carriers. We have access to 25+ insurance companies through our networks. We will find the policies that fit your needs among a list of great national companies and specialist providers. Access and choice matter a lot in today’s insurance world.
What's the Value Add
We don’t work with thousands of clients. Our approach is to work with a limited group of great clients so that we can offer more personalized attention and value-added services throughout the year!
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Months of Risk Management Experience
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We Help Build Architect Insurance to Rely On. Your Dedicated Advisor Connection Means You Get Thoughtfully Designed Coverage Personalized for Your Services.
Bidding & Negotiation
Sometimes referred to as E&O insurance, it provides protection against legal claims made by clients for negligence or mistakes in the provision of architectural services from design flaws to delays.
Commercial General Liability
Coverage that protects you from claims for bodily injury, property damage, or potentially personal and advertising injury. It provides reimbursement for legal expenses, medical costs, settlements, and awards.
This provides coverage for bodily injury, property damage, and other liabilities while driving a commercial vehicle. You’re covered for activities like commuting to construction sites or transporting equipment.
Coverage that protects you from exposure from damage or loss to your physical assets. This includes buildings, equipment, and other similar property belonging to your business.
This insurance covers claims made by employees or former employees for issues such as discrimination, harassment, wrongful termination, and other similar allegations.
This insurance is often legally required and designed to cover medical expenses, lost wages, and rehabilitation costs for employees who suffer injuries while performing job duties.
Our Goal is Big, but Simple: Create Better Insurance Programs for Clients. To deliver on this, We Bring Significant Design and Planning Knowledge to the Table.
For example, we will dig into the provisions in Section 2.5 of AIA Document B101 or other forms with you to review insurance requirements. We make sure that you have the stated coverage and limits that the forms identify.
Our job is to protect your success by leveraging our 20+ years of expert risk management experience so that you can obtain reliable coverage and get back to running your architecture firm!
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We engineer great risk solutions for every client and each insurance program
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Need architect insurance? Expect more. Get better results.
Our onboarding and quoting process is fast + careful.
Complete our proprietary online risk assessment. It’s fast and powerful.
We design your individualized coverage program then access top national insurance carriers and specialist companies to get great quotes.
You review a personalized video proposal that explains your quotes in simple terms. And, your advisor is a couple of clicks away on standby.
Bind great coverage and then get ready for a bunch of value-added risk management services (like digital employee handbooks) throughout the year.
At Notable Risk you get a lot more than an annual premium invoice.
You can get help from a principal advisor on short notice, even on the weekend! Call us and start your concierge insurance experience — it’s a bit different. You can also schedule an intro meeting by clicking here!
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Learn about Architect Insurance
Does an architect need insurance?
Yes. If your company provides services to third parties then you will need coverage. An appropriate policy will protect you from losses that stem from mistakes or negligent activities related to the services you provide to clients.
While this coverage is generally not legally required, it may nonetheless be required by agreement with clients pursuant to AIA forms or private agreements.
Also, projects that involve municipal or quasi-government participation will also likely require robust insurance coverage, including architect professional liability insurance.
What are the benefits of architect insurance
Arguably most important, architect professional liability insurance (or, errors and ommissions architect insurance) will cover your business in the event of costly claims that could severely hamper your operations.
Beyond the coverage aspect, maintaining architect insurance establishes professionalism and credibility with existing and potential clients, while adding financial protection for clients who may be impacted by a covered loss under the policy.
What insurance does an architect need?
While each firm has unique needs, you will likely need general liability and professional liability insurance at a minimum. If you have employees, autos or real or personal property, then additional policies such as workers’ compensation, commercial auto, and property coverage will be needed. Also, cyber insurance is always recommended given that architects have access to important and confidential project and client data.
How much does architect insurance cost?
For a small firm, your total premium costs may be approximately $2,000 annually. This amount can quickly rise if you add important coverages like cyber insurance or a commercial umbrella.
What factors influence the cost of architect insurance?
One significant factor impacting the cost of architect insurance is the type and extent of coverage desired. Different policies that architecture firms may require offer varying levels of protection, such as general liability coverage, professional liability (errors and omissions) coverage, property damage coverage, or cyber liability coverage. The more comprehensive the policy, the higher its price may be.
Another key aspect affecting insurance costs is an architect’s level of experience and expertise. Architects with a solid track record and extensive experience are generally viewed as lower-risk clients by insurers, potentially resulting in lower premium rates.
The size and scope of an architectural firm also play a role in determining insurance costs. Larger firms typically have greater exposure to risks due to working on multiple projects simultaneously or having more employees involved in design processes — unfortunately, more things to potentially go wrong. Consequently, they may face higher premiums compared to smaller firms with fewer overall exposures.
Additionally, geographic location influences architect insurance costs since different regions have varying degrees of risk exposure in areas like licensing and regulations.
Furthermore, an architect’s claims history affects their insurability and pricing considerations significantly. If a firm has previously filed numerous claims or been involved in legal disputes related to their work, insurers may perceive them as high-risk clients who require more expensive coverage options.
Lastly, deductible amounts chosen by architects can impact policy costs as well — selecting a higher deductible typically leads to lower premium payments but increases out-of-pocket expenses if a claim arises.
Does architecture firm coverage protect our clients?
You may likely be asked to provide evidence of insurance when you perform services for investors, builders and others. In fact, your contract will likely spell out the required coverages, like professional liability insurance, which are required by your client.
Does an architect need general liability insurance?
General liability insurance for an architect is a type of coverage that protects firms from financial losses due to claims made against them for bodily injury or property damage. This insurance provides protection in case someone gets injured on the architect’s premises or if their work causes damage to someone else’s property.
Architects complete important work and face various risks in their profession, such as accidents occurring at construction sites they oversee or errors in their design plans that lead to property damage. In such cases, general liability insurance can help cover legal expenses, medical costs, and any settlements or judgments awarded against the architect.
Additionally, this insurance may also cover personal and advertising injury claims. Personal injury refers to non-physical harm caused by things like defamation or copyright infringement. Advertising injury includes claims arising from misleading advertising practices.
Obtaining a general liability insurance policy is very important for architects as it helps protect their business assets and reputation!
Does an architect need commercial umbrella insurance
Umbrella insurance is an additional type of liability coverage that can provide extra protection for architects. It acts as a safety net, offering coverage beyond the limits of their existing policies, such as general liability or professional liability insurance. As an architect, it’s important to have adequate insurance coverage to protect against potential lawsuits and claims that may arise from your design development, schematic, and other services performed for building owners.
While your primary policies may offer sufficient coverage in most cases, there are instances where the costs associated with a claim could exceed those limits. This is where umbrella insurance comes into play. Umbrella insurance provides higher policy limits than traditional liability policies and can cover various types of claims, including property damage, bodily injury, libel or slander accusations, and legal defense costs (all subject to the policy scope and limits!). It kicks in when the underlying primary policy reaches its limit.
Can an architect obtain insurance to cover delayed client projects?
When it comes to architect delays, it is important for professionals in the field to understand the potential risks involved and take necessary precautions. One such precaution is obtaining professional liability insurance. Architects are responsible for designing and, in some cases, even overseeing construction projects, which can sometimes be complex and time-consuming. Delays can occur due to various factors such as design changes, unforeseen site conditions, or contractor issues.
These delays can result in additional costs, project disruptions, and even legal disputes. Professional liability insurance provides coverage for architects in case they are held liable for any errors or omissions that lead to project delays or other negative outcomes.
This type of insurance helps protect architects financially by covering legal expenses, settlements or judgments if a claim is made against them. It’s important, however, to confirm your situation and the coverage provided by the underlying policy.
How long is the term for architect insurance?
The policy term for architect insurance refers to the duration of coverage provided by the insurance policy. It is typically a specified period, such as one year, during which your architecture firm is protected against potential risks and liabilities related to the professional services provided. You can confirm the policy term in the declarations page and the overall policy documentation. The policy term is often renewable for the same period as the initial period, depending on the terms and conditions set forth by the insurance company.
What's the difference between engineer insurance and architect insurance?
Architect insurance and engineer insurance have some differences even though you often here them mentioned together. Let’s separate them!
Architect insurance is specifically designed to protect architects from potential liabilities that may arise from their professional work, such as errors or omissions in design plans. It typically covers legal expenses, damages, and settlements related to these liabilities.
On the other hand, engineer insurance is tailored for engineers and provides coverage for risks associated with engineering services. This can include protection against claims of negligence, faulty designs, or construction defects that result in financial losses or bodily injury.
While both types of policies aim to safeguard professionals in the architecture and engineering fields, they are customized to address the unique risks faced by each profession. Architects focus more on design-related liabilities while engineers deal with a broader range of technical issues during project implementation.
Can I switch my architecture firm coverage before the end of the current term?
Yes. In most cases, unless a policy is fully earned at inception, you will receive a pro-rated refund of your premium when you cancel. You are permitted to do so at any time. It’s important to make sure, however, that you do not create any unintentional gaps in coverage in doing so.
What is workers compensation insurance for architects?
Workers compensation insurance for architects is a type of coverage that provides financial protection to architects in the event of work-related injuries or illnesses. This insurance is mandatory in most states and helps cover medical expenses, lost wages, and rehabilitation costs for employees who are injured on the job. Architects face various risks while performing their duties, such as accidents at construction sites, exposure to hazardous materials, or repetitive motion injuries.
Workers compensation insurance ensures that architects receive necessary medical treatment and wage replacement if they become injured or sick due to work-related activities. In addition to covering immediate medical needs, this insurance also offers long-term benefits. If an architect becomes permanently disabled due to a work-related incident, workers compensation can provide ongoing income support or disability benefits. By having workers compensation insurance in place, architecture firms can protect themselves from potential lawsuits related to workplace injuries.
This coverage not only safeguards the well-being of employees but also helps maintain business continuity by minimizing financial liabilities resulting from workplace accidents. It’s important for architects and architecture firms to understand their state’s specific requirements regarding workers compensation insurance. Failure to comply with these regulations may result in penalties or legal consequences.
What is the difference between E&O and professional liablity insurance?
There are several similarities between E&O insurance and professional liability insurance. Both types of insurance provide coverage for professionals in the event that they are sued by a client for negligence or errors in their work. They both aim to protect professionals from financial loss due to legal expenses and potential damages awarded to the client.
E&O insurance, also known as errors and omissions insurance, is specifically designed for professionals who provide services or advice. It covers claims related to mistakes, oversights, or failures in delivering professional services. This type of insurance is commonly used by professions such as doctors, lawyers, architects, engineers, consultants, and real estate agents.
On the other hand, professional liability insurance is a broader term that encompasses various forms of coverage specific to different professions. It provides protection against claims arising from professional negligence or malpractice. Professionals like accountants, IT consultants, financial advisors, and designers often carry this type of coverage.
While there may be slight differences in policy specifics between E&O Insurance and professional liability insurance based on the profession being covered; overall they serve similar purposes — protecting professionals’ interests when facing (unfortunate!) lawsuits alleging errors or negligence from the services provided.
How fast can I get architects insurance coverage?
Depending on the unique needs of your architecture firm, once complete applications are submitted, your insurance quotes can typically be obtained within 1-2 days, or sooner.
Why is architect insurance referred to as specialized?
Architect insurance companies are “specialized providers” of insurance coverage for architects and architectural firms. These companies offer a range of policies designed to protect architects from potential risks and liabilities associated with their profession. The “specialized” label has a lot to do with the fact that architects face unique challenges in their line of work, including the possibility of errors or omissions in design plans, construction defects, property damage claims, and legal disputes. Thus, architect insurance companies focus on and understand these risks so that they can then tailor their coverage options to address them.
Will my architecture firm need commercial auto insurance?
Commercial auto insurance for an architect provides coverage for any vehicles used in the course of their business activities. This type of insurance is essential as it protects architects from financial loss in case of accidents, damage to property, or injuries caused by their vehicles. It also covers liability claims and legal expenses that may arise from these incidents. Having commercial auto insurance ensures that architects can focus on their work without worrying about potential risks associated with driving on the job.
Will my architecture firm need cyber liablity insurance?
We highly recommend it. Cyber insurance for an architect provides protection against financial losses and liabilities resulting from cyber attacks or data breaches. This type of insurance is specifically designed to address the unique risks faced by architects in today’s digital landscape. With the increasing reliance on technology and digital systems, architects are vulnerable to cyber threats that can compromise sensitive client information, intellectual property, or disrupt their business operations.
Cyber insurance helps mitigate these risks by providing coverage for various aspects such as legal expenses, notification costs, credit monitoring services for affected clients, public relations efforts to manage reputation damage, and even potential lawsuits. Architects handle a significant amount of confidential data related to projects they work on. In the event of a breach or unauthorized access to this information, cyber insurance can help cover the costs associated with notifying affected parties and providing necessary support services. It can also assist in managing any regulatory fines or penalties that may arise due to non-compliance with data protection laws. Moreover, architects often collaborate with other professionals within the construction industry through online platforms or cloud-based systems.
These interactions increase the risk of malware infections or hacking attempts targeting shared networks. Cyber insurance offers financial protection against any losses incurred as a result of these types of attacks.
How should our architecture firm select a cyber insurance policy?
Architects should consider several factors when selecting a cyber insurance policy. First, it is essential to assess the specific needs and vulnerabilities of their firm. This involves evaluating the type of sensitive information stored digitally (such as client details or intellectual property) and identifying potential weak points in their network security systems.
Another crucial consideration is understanding what types of incidents are covered under the policy. Different policies may offer varying levels of protection against different types of cyber threats such as malware attacks, ransomware incidents, social engineering scams, or insider threats.
It is important to carefully review policy terms and conditions to ensure comprehensive coverage tailored to an architect’s unique risk profile.
Additionally, architects should be aware that most standard commercial general liability policies do not cover losses caused by cyber events explicitly. Therefore, obtaining a separate cyber insurance policy is necessary to fill this gap in coverage.
Where can we find coverage for our architecture firm?
There are several great companies to consider. These include well-known names like AIG (American International Group), Chubb Insurance, Travelers Insurance, Hiscox Insurance, Zurich Insurance Group, and Liberty Mutual. Each of these carriers offers different coverage options tailored specifically for architects. It’s important to consult with an agent who focuses on architect insurance to ensure a complete understanding of the available options.
What does business interruption insurance cover for an architect?
This type of insurance for an architect provides financial protection and supports businesses that face disruptions due to unforeseen events such as fires. Business interruption insurance helps mitigate these risks by providing compensation for lost income during the period of interruption.
One of the big benefits of this coverage is its ability to cover ongoing expenses even when your firm is without operational revenue. For example, if an architecture office suffers damage from an accidental fire and needs to undergo repairs before restarting operations, business interruption insurance can provide funds to cover things like rent payments, employee salaries, utility bills, and other necessary expenses (subject to policy terms and limits).
Additionally, this type of insurance also considers any potential temporary relocation costs that may arise if an architect needs to move their operations while repairs or rebuilding are completed.
It’s important for architects to carefully assess their firm’s needs when considering business interruption insurance policies. Factors such as location (think about susceptibility to earthquakes or hurricanes), industry-specific risks (like loss of critical project data, plans, drawings, etc.), and potential recovery timeframes should all be carefully considered by your firm.