Do self-employed architects need Errors & Omissions insurance?
Self-employed architects need errors and omissions insurance to cover financial losses and avoid legal costs associated with professional risks.
Updated May 30, 2023.
Errors and omissions (E&O) insurance can be beneficial for self-employed architects. If you're in a situation where your client claims you damaged their property or a mistake in your plans caused them any financial loss, E&O insurance can help protect you.
Cover financial losses
By having E&O insurance in place, you can protect yourself against the financial risks of being held liable for mistakes or negligence accusations in your work. For example, you can be held responsible for:
- Incorrect measurements: Custom-sized glass was cut for the windows in a new apartment building, but your measurements on the plans were wrong, and the glass doesn't fit in the windows.
- Claims of negligence: Someone files a lawsuit claiming your plans failed to consider important elements outlined in the scope of work.
Avoid legal costs
E&O insurance can help to cover any legal expenses, settlement fees or judgments awarded by the courts if your client decides to sue. Sometimes, your legal fees can be more than the actual cost of fixing your mistake.
Be above your competition
Having E&O insurance shows potential clients that you're serious about your profession and committed to providing quality service. This is especially important when competing for new business as it demonstrates that you have taken the extra step of protecting yourself, your business and your client's interests.
Customized insurance designed for architects
Our unique and flexible architect insurance means that you can find an insurance package designed just for you. Simply answer a few questions online to review options, select the coverage you need and get 24/7 access to your certificate of insurance.
You can rest easy knowing your business is protected and focus instead on doing what you do best.