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.
The most common policies for architects in Georgia vary depending on revenue, client contracts, partnerships, 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. If your architecture firm doesn’t have employees, you may choose whether to purchase coverage for yourself. This policy can help pay for medical expenses and lost wages associated with occupational injuries.
Commercial auto insurance can cover vehicles your business owns or uses for business purposes. If your vehicle is involved in an accident, this policy can cover your liability for the other person's bodily injuries and property damage. It can also cover vehicle theft, weather damage, and vandalism.
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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