Architects and engineers play an important role in society by designing the infrastructure that citizens rely on every day. During the normal course of business, however, both architects and engineers face legal liabilities that other professionals often avoid. To build a foundation for the future, smart professionals often choose to purchase architects and engineers professional liability coverage.
Some licensing boards require architects and engineers to carry professional liability insurance. Meanwhile, to bid for certain projects, professionals must submit proof of coverage. Either way, to succeed professional, architects and engineers professional liability coverage is often essential.
Peace of Mind
Everyone knows that lawsuits can be expensive to defend against. Even if a judge or jury ultimately decides that an architect or engineer was not in the wrong, legal fees can be catastrophic. Since professional liability insurance often covers legal fees, those who have it often save a tremendous amount of money. If found liable, architects and engineers with the right coverage also usually don’t have to pay judgements, awards or settlements. For peace of mind, architects and engineers professional liability coverage is generally invaluable.
With a comprehensive policy, architects and engineers often compete for lucrative projects. They also protect themselves from costly lawsuits. When weighing these advantages with the cost of an insurance premium, purchasing coverage is often a logical choice for those who design the world’s infrastructure.