Business Insurance Requirements for Architects in Illinois

Architects in Illinois benefit from a rich design culture, from towering corporate monuments in downtown Chicago to some of Frank Lloyd Wright’s earliest residential works in the southern part of the state. Each architectural project has its own set of challenges and risks. Likewise, your business risk and several key factors will help determine the architecture insurance you choose to protect your business. The only policy that is required of all firms with employees under Illinois state law is workers’ compensation insurance.

However, if you plan to lease commercial property, you will likely be required to have general liability insurance and/or property insurance as part of your lease agreement. Your clients might also ask you to provide proof of professional liability insurance before moving forward with your design services. This coverage can protect you if a business discrepancy leads to a lawsuit.

Insureon, headquartered in Chicago since 2011, can help you find insurance from top U.S. carriers to cover your business needs. Read more to find out which policies are most common for architects in Illinois, and start an application to get your free quotes today.

Find the right insurance policy for your architecture firm

The most common policies for Illinois architects depend on a variety of factors, including revenue, client contracts, business structure, and partnerships. The table below illustrates which policies might work best for your business structure.

 

Business type General liability / BOP Professional liability Workers' comp Commercial auto
Sole proprietor X X X X
Partner X X X X
1099 or independent contractor X X    
Employer X X X X

 

General liability insurance: General liability insurance is the foundation of an architect’s business protection. Coverage extends to bodily injury, client property damage, advertising injury, and the cost of legal defense. Most commercial leases require you to have this coverage.

Professional liability insurance: Many clients require proof of professional liability insurance before entering 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 work or a business discrepancy. If you work in a partnership with another architect or firm, make sure that your professional liability policy provides joint venture coverage. It can make sure each member is protected if the venture is sued.

Business owner's policy (BOP): Architects usually qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability at an affordable rate.

Commercial auto insurance: 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 pay to repair your car when it is damaged by theft, weather events, or vandalism.

Illinois workers’ compensation insurance: Illinois state law requires workers’ compensation for any small business that has employees, including those with only one part-time worker or an employed family member. If an employee gets injured on the job, workers’ comp helps pay for medical expenses and lost wages.

Architecture may not seem like a risky profession, but according to data from the Bureau of Labor Statistics, architects do experience on-the-job injuries like overexertion and falls, slips, and trips. Architects who regularly visit construction sites may be at higher risk for these injuries, too.

Most Common Workplace Injuries: Architects in the U.S.

Business insurance costs for architects in Illinois

According to an analysis of Insureon applications, the median costs of some architect insurance policies in Illinois outpace the national median. Professional liability insurance may be the most notable difference. Architects in Illinois pay a median of $4,592 per year for this policy ($382 per month) compared to the national median of $3,205 ($267 per month). General liability insurance falls on the other end of the spectrum, typically costing less than $500 a year.

You may be able to save money if you bundle general liability and professional liability policies. That brings the combined median premium down to $2,115 – or about $176 each month.

Median Insurance Costs for Illinois Architects

Save time and money with Insureon

Insureon’s industry-leading technology helps Illinois architects save time and money shopping for insurance by comparing policies from dozens of top U.S. carriers. Apply online and review quotes for the policies that best fit your business needs. Our insurance specialists are licensed in Illinois and can answer your questions as you consider coverage.

To make the application go even quicker, have this information ready:

  • Workforce details, such as the number and types of employees.
  • Current and projected revenue.
  • Business partnerships.
  • Insurance history and prior claims.
  • Commercial lease insurance requirements.

Apply for free architect insurance quotes today.