General Liability vs. Professional Liability Insurance for Architects

General Liability vs. Professional Liability Insurance for Architects

Along with securing the proper licenses and permits, obtaining insurance is just part of doing business as an architect. Two types of insurance that sound similar – general liability insurance and architects professional liability insurance – actually offer different protections. Here is a quick overview of the benefits that each offers.

What Does General Liability Insurance Cover?

Despite your best efforts, accidents are bound to happen during the course of doing business. That’s where your general liability insurance comes into play. This policy covers damage to the property of others, injuries to third parties and legal costs should you be sued for anything that falls under the policy’s coverage. Not covered under a general liability policy are your property, employee injuries and the use of vehicles.

What Does Professional Liability Insurance Cover?

Also on the list of items not covered by general liability insurance are your professional services. And that’s why professional liability insurance – also called errors and omissions – exists. Similar to malpractice insurance held by physicians, professional liability shields you from liability should a client claim that you offered advice or made a mistake that caused the client damage. Most policies cover legal fees, the cost of investigations and any settlements or judgments. Without a professional liability policy, you’d likely find yourself paying those costs out of pocket.

Talk to an insurance professional for more information on architects professional liability insurance.

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