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construction engineer in unfinished houseAs an architect, you have one of the most interesting and creative jobs in the world. You also have a lot of responsibility to get it right. Most architects have various fail-safes in place. Mistakes are not likely to happen. However, they can occur. When they do, they put you at risk of facing claims from your clients. This is one of the reasons you have general liability insurance. What should architects know about having proper business insurance for these risks?

What Can Go Wrong?

There are many things that can go wrong in your line of work. A small mistake may be all that is necessary to cause significant problems for your project or for clients themselves.

Imagine, for example, having the task of building onto a client’s home. Yet, the steps you have to take causes damage to their home. You could be responsible for the homeowner’s losses.

Perhaps the incident has to do with your in-office work. You welcome a high-profile client into the office to discuss a project. They trip on a carpet, fall, and hit their head on the corner of your desk. Not only are you likely not to get the contract, but you could be facing thousands in medical claims.

Your general liability insurance helps protect from claims that you caused someone else’s loss. This includes most forms of bodily injury and property damage. It is not uncommon for something to go wrong like this. Yet, having proper coverage can minimize the financial toll it takes on your business if it does occur.

What You Should Know

For architects, proper general liability insurance is very valuable. It may also be the law.

Many states require you to have proper general liability insurance coverage. The amount usually depends on the size of the projects you do. Most client contracts also have built-in language that requires you to maintain comprehensive insurance. This includes coverage for any contractors you bring into the project.

General liability insurance is quite valuable. It can help to cover damage related to just about any project. However, you need to have enough of it. Work with your business insurance agent on this. Be sure you are obtaining a policy that provides a high level of protection.

You want to be sure the coverage fits the size and scale of the work you do. And, as your company grows, you may need more of this protection.

Contact us for more information on general liability insurance.

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