Learn about business insurance requirements and the most common policies for architects in Florida.
If you have a commercial lease, your property manager may require you to purchase general liability insurance. It is the most common insurance policy purchased by architects in Florida. General liability insurance can protect your business from expenses associated with common mishaps, such as client property damage and injuries. It also provides protection from expenses related to advertising injury and defamation lawsuits.
Your clients may require professional liability insurance in a contract. Also called errors and omissions insurance, professional liability insurance provides financial protection if a client files a lawsuit claiming your work caused financial harm because it was late, erroneous, or incomplete.
Florida law requires architects with four or more employees to purchase workers’ compensation coverage. Business-owned vehicles must be covered by commercial auto insurance. Personal vehicles used for business purposes should have commercial coverage with a hired and non-owned insurance policy, as well.
Architects in Florida most often need the following insurance policies. The specifics depend on client contracts, lease agreements, business vehicles, and number of employees.
General liability insurance is the foundation of an architect’s business protection, with coverage that extends to client injuries, client property damage, and advertising injuries. Many commercial leases require you to have this coverage.
Many clients require proof of professional liability insurance before entering into contracts for professional services. This policy, also called errors and omissions insurance or architect liability insurance, can help cover legal expenses if you’re sued for unsatisfactory performance or a work mistake.
Florida law requires architecture firms with four or more employees to purchase workers’ compensation coverage. Architects who do business as sole proprietors or partners can elect to carry coverage for themselves. If they do, they must file form DWC 251 with the Division of Workers' Compensation. If you work as a freelancer or independent contractor, you are technically a sole proprietor and can elect to carry your own coverage.
Your clients may require you to have coverage before you work with them. A workers' comp policy can help pay for medical expenses and lost wages associated with occupational injuries.
Architects who store sensitive customer information, such as email addresses or credit card numbers, should invest in cyber liability insurance. This policy helps businesses recover from cyberattacks and data breaches. For example, it would cover the cost of notifying affected customers and providing them with fraud monitoring services after a breach.
Commercial auto insurance covers vehicles owned by your architecture firm. If your vehicle is involved in an accident, this policy helps pay for medical bills and property damage. It can also cover theft, weather damage, and vandalism.
State laws determine how much auto liability coverage you need. Florida's minimum requirements are:
Architects might need a license or permit bond to obtain a license in their state or work on a project. These bonds are types of surety bonds that guarantee you will fulfill the terms of a contract and adhere to local regulations. The contract will usually specify the size of the bond that you need.
Florida architects need a certain amount of experience and education to get a license, and must also pass an exam and pay a fee.
According to an analysis of Insureon applications, architects in Florida typically pay slightly higher than the national median rate for business insurance. The cost of professional liability insurance for Florida architects is $147 a month, just a few dollars higher than the national median. Architects in Florida can expect to pay about $40 per month for general liability insurance, a little higher than the national median premium.
Insureon’s industry-leading technology helps architects in Florida save time and money shopping for insurance by comparing policies from top U.S. carriers. Start a free online application to review quotes for the policies that best fit your business. Our insurance agents are licensed in Florida and can answer your questions as you consider coverage.
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