Architects and engineers know how important it is to design and build stable structures. A strong building will last many years and can protect the people inside. These talented professionals may not fully realize that professional liability insurance is an investment that can help keep their businesses equally sound. The errors and omissions insurance engineering firms require is specialized and many insurance agencies have extensive experience working to protect engineers with policies designed just for them.
Experience Is Important
Insurance agencies that specialize in writing the kinds of errors and omissions insurance engineering firms need often have decades of experience. Only by witnessing first-hand the kinds of professional liability claims filed against engineers can an insurance company be best prepared to draft a policy that includes adequate protection. The errors and omissions exposures faced by engineers are constantly evolving. Understanding industry trends requires specialized knowledge about current engineering practices and technology. It is always wise to interview a potential insurance agent prior to purchasing a policy. Finding an agency that knows about engineering as well as insurance is a wise business decision.
A Wise Investment
Choosing an insurance agency that is comfortable factoring the size of a firm into their calculations is equally important. Small firms do not generally require the same coverage as larger firms. Again, experienced and specialized insurance agencies exist and are willing to work with engineers to build specialized policies offering maximum professional liability protection.