Learn about business insurance requirements and the most common policies for architects in Pennsylvania.
If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by architects in Pennsylvania, 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 (E&O), professional liability insurance provides financial protection if a client files a lawsuit over late, erroneous, or incomplete work.
State law in Pennsylvania requires every small business with employees to provide workers’ compensation insurance, which covers medical bills for work injuries. 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 Pennsylvania 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.
Architects often qualify for a business owner’s policy (BOP). This package helps your business save money by bundling commercial property insurance with general liability insurance at an affordable rate.
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.
In Pennsylvania, all businesses must purchase workers’ comp coverage for their employees, even if those workers are part-time employees or family members. 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 expenses related to bodily injuries and property damage. It can also pay for vehicle theft, weather damage, and vandalism.
An analysis of Insureon applications shows that the cost of architect insurance in Pennsylvania differs significantly from the national median.
Pennsylvania architects can expect to pay less than the national median for professional liability insurance: $1,500 a year compared to $1,730 per year. However, those savings are balanced out by the price difference in workers’ comp and general liability insurance, which generally cost more in Pennsylvania.
Insureon’s industry-leading technology helps architects in Pennsylvania 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 Pennsylvania and can answer your questions as you consider coverage.
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