Why You Need Engineer & Architect Professional Liability if you are an Architect

gineer & Architect Professional Liability

Liability insurance is essential for any professional Architecture or Engineering firm. Potential clients and partnering firms will steer away from companies who are not properly insured, since they pose a high risk in the event of any damage, injury, error, or omission during a project. Also, if you have an office space for your business, insurance will help to cover any sort of accident on the property. There are many options available to customize an Professional Engineer or Architect Liability Insurance plan, professional liability and general liability being the most important.

What Kind of Insurance Does An Architect Need?

Professional Liability is also known as Errors & Omissions Insurance. This coverage ensures that your company will not pay the full cost of a negligence claim made by a client. In the event that an error in design is overlooked during a project, Professional Liability Insurance will help get the job done right, while still keeping it profitable.

General Liability Insurance is essential to cover any sort of injury or damage your business encounters. This is useful for work in the field, where injuries and damage are more common, as well as in your firm’s office space, where accidents can also occur.

What Liability Does An Architect Have?

Architects are liable at many points through the design and construction phases of a project. From the start, an Architect has to coordinate sets of drawings for every trade necessary, which is no simple task. After subcontractors are approved for construction, the Architect is responsible for prompt communication between trades, aiming for timely reviews and approvals to stay on the client’s contracted schedule. As work is being completed, the final inspection and approval falls to the Architect, which requires professionally competent and thorough evaluations. Any mistake in this process could result in a delayed schedule or fault in design or construction, costing you or your client more time and money than you agreed to.

How Long is An Engineer or Architect Liable for?

The Pennsylvania Statute of Repose states that an Architect, Engineer, or Contractor is liable for twelve years after a project is completed. This statute applies to claims for errors in design, planning, construction, as well as property damage. If any injury or fault occurs after twelve years from completion, the Statute of Repose eliminates the possibility of any civil action against an Architect or Engineer. That said, if any fault or injury does occur within twelve years of the structure’s completion, a liability lawsuit can be a costly venture. For information on the Statue of Repose in your state, contact PenEx, a villaNOVA Insurance partner.

Cost of a Liability Lawsuit

A Liability Lawsuit can cost your firm financially, as well as damage your reputation. If an error or omission is found on a project, you may need to pay the cost to repair mistakes, along with legal fees. Depending on the error and scope of the project, court settlements can range from thousands to millions of dollars, not counting the court and lawyer fees that go along with the process. Architect Liability Insurance accounts for inevitable human error, and can help pay legal fees from a liability lawsuit.

Why Choose PenEx (powered by villaNova Insurance Partners).

PenEx is an independent insurance agency that can provide you with the best customized Professional Engineer and Architect Liability Insurance available. PenEx was founded in 1983 specifically to serve Architects and Engineers, and has a long history with leading providers to the industry. In 2019, PenEx joined forces with villaNova Insurance Partners, expanding its market, resources, and services provided. Through our excellent carrier relationships, PenEx can provide you with a variety of Architect and Engineer Liability Insurance options at affordable pricing. Contact our skilled agents at PenEx today to get a quote on Professional Engineer or Architect Liability Insurance for your business.