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Professional liability insurance for building design professionals

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Professional liability insurance

Professional liability insurance, also called errors and omissions insurance, protects small businesses against the costs of client lawsuits over unsatisfactory work.

Professional liability insurance protects against dissatisfied clients

When a client accuses you of making a mistake, your business needs to be prepared for the consequences. Lawsuits can be expensive, especially for architects, engineers, and other building design professionals working on high-cost projects. Whether you make an error on a blueprint, or a client files a frivolous lawsuit over a color scheme you chose, professional liability insurance can help pay legal fees that might otherwise put your business out of commission.

This policy provides liability coverage related to:

  • Mistakes and oversights
  • Failure to deliver promised services
  • Accusations of negligence
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What coverage can professional liability insurance provide for building design companies?

Mistakes and oversights

Being accused of a professional mistake can be costly. If your client sues, you could face mounting legal expenses, even if you didn’t do anything wrong. Professional liability insurance can help cover attorney’s fees, court costs, and any resulting settlements, judgments, or fines.

Failure to deliver promised services

It’s rare for a building design project to go exactly as planned. If project delays cause you to deliver architectural blueprints after a deadline, for example, your professional liability insurance policy could help pay for the legal fees if your client goes to court.

Accusations of negligence

If an architect or engineer's structural design fails, you could be accused of professional negligence. When your client suffers financial damages and files a lawsuit, professional liability insurance can help pay the resulting expenses.

How much does professional liability insurance for building designers cost?

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Building design professionals pay less than $145 per month for professional liability insurance.

Insurance costs for building design professionals are based on a few factors, including:

  • Building design services offered
  • Business equipment and property
  • Revenue
  • Location
  • Number of employees

Other important policies to consider

Professional liability insurance protects your business from client lawsuits, but it does not provide coverage for fires, injuries, and many other risks. Building design professionals should also consider:

General liability insurance: This policy covers customer injuries and customer property damage, along with lawsuits over slander, libel, and copyright infringement.

Business owner’s policy: A BOP defends against the most common risks in the building design industry. It bundles general liability insurance with commercial property insurance at a discount.

Workers’ compensation insurance: This policy is required in most states for businesses with employees. It covers medical expenses if an employee is injured on the job.

Cyber liability insurance: This policy helps architects, engineers, and other building designers recover financially from data breaches and cyberattacks.

Commercial auto insurance: This policy helps cover costs if your business vehicle is involved in an accident. Each state has its own requirements for auto liability insurance.

License and permit bonds: Architects and engineers may need a license or permit bond to work in their state, or to take on certain projects.

Get free quotes and compare policies with Insureon

Are you ready to protect your building design business with professional liability insurance? Complete Insureon’s easy online application today to compare quotes from top U.S. carriers. Once you find the right policy, coverage can begin in less than 24 hours.

Updated: April 29, 2022
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