Learn about business insurance requirements and the most common policies for architects in Georgia.
If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by architects in Georgia, general liability insurance can protect your business from expenses associated with common mishaps, such as client property damage and injuries.
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.
Georgia law requires all businesses that regularly employ three or more employees to carry workers’ compensation coverage, and business-owned vehicles must be covered by commercial auto insurance. Personal vehicles used for business purposes should have commercial coverage, as well.
Architects in Georgia most often need the following policies. The specifics depend on client contracts, lease agreements, the number of employees, and other factors.
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. Most 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.
Georgia law requires all businesses that regularly employ three or more employees to carry workers’ compensation coverage. This policy can help pay for medical expenses and lost wages associated with occupational injuries.
If your architecture firm doesn’t have employees, you may choose whether to purchase coverage for yourself. Workers' comp is recommended even for sole proprietors and independent contractors, as health insurance companies can deny claims for injuries related to your work.
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.
Each state has its own requirements for auto liability insurance. Georgia'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.
To get a license in Georgia, architects must meet specific requirements for education and experience, submit an application, and pay a fee.
The cost of architect insurance in Georgia is lower than the national median for some policies, according to an analysis of Insureon applications. However, architects in Georgia may pay more for professional liability insurance than architects in other states.
Georgia architects typically pay about $1,975 a year ($165 per month) for professional liability insurance, while the national median is about $1,735 ($145 per month). However, the cost of workers’ compensation for Georgia architects is about $520 per year, $80 less than the annual national median.
Insureon’s industry-leading technology helps architects in Georgia 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 Georgia and can answer your questions as you consider coverage.
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