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How much does insurance cost for draftsmen?

The cost of drafter insurance depends on the policies you choose, the risks your business faces, and the value of your drafting equipment. Cost estimates are sourced from policies purchased by Insureon customers.

General liability insurance icon

General liability insurance costs for draftsmen

Draftsmen pay a median premium of less than $30 per month, or $350 annually, for general liability insurance. This policy protects against third-party injuries, damaged or stolen client property, and advertising injuries.

Insureon’s licensed agents typically recommend a business owner’s policy for more complete coverage. A BOP combines general liability insurance with commercial property insurance. It protects your own business property along with guarding against the most common business risks.

Median cost per year: $350
Policy limit: $1 million per occurrence
Policy deductible: $500

Learn more about general liability insurance.

Business owner’s policy icon

Business owner’s policy costs for draftsmen

Drafters typically pay less than $42 per month for a business owner’s policy, or a median annual premium of $500. 

A business owner’s policy bundles general liability insurance with property insurance, usually at a discounted rate. Pricing is determined by the location of your business, its operations, and the value of your business property. A BOP may include business interruption insurance, which covers lost income from an unexpected closure.

Median cost per year: $500
Policy limit: $1 million per occurrence
Policy deductible: $500

Learn more about business owner’s policy coverage.

Compare drafter insurance quotes from top U.S. carriers
Professional liability insurance icon

Professional liability costs for draftsmen

The median cost of professional liability insurance is about $100 per month, or $1,230 annually, for draftsmen. This policy, also known as errors and omissions insurance, protects businesses against lawsuits brought by clients claiming that work was inaccurate, late, or never delivered.

Median cost per year: $1,230
Policy limit: $1 million per occurrence
Policy deductible: $2,500

Learn more about professional liability insurance.

Workers’ compensation insurance icon

Workers’ compensation costs for draftsmen

The median cost of workers’ compensation insurance is about $40 per month, or $480 annually, for draftsmen. The cost varies significantly depending on the state and business operations. Include accurate payroll figures in your quote application to avoid the need to adjust premium rates if your payroll amount changes.

Workers’ compensation insurance is required in almost every state for drafting businesses that have employees. This coverage helps pay medical fees and lost wages for employees who are injured on the job. Most policies include employer’s liability insurance, which protects business owners against lawsuits related to workplace injuries.

Learn more about workers’ compensation insurance.

Get free quotes and compare policies with Insureon

Insureon’s building design insurance agents work with top-rated U.S. insurers to find the best coverage for your drafting business. Apply today to compare quotes from multiple carriers with one free online application. If you decide to purchase a policy, you’ll work with an account manager who specializes in business risks for draftsmen.

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