Architects Professional Indemnity Insurance
Compare professional indemnity insurance quotes for architects
What is architects professional indemnity insurance?
In the planning, design and management of a construction project, architects are exposed to a number financial risks. Architects professional indemnity insurance is a liability policy that protects the policyholder against claims for damages by providing a legal defence and covers the cost of damages awarded by a court or settled by the insurer. At Get Indemnity™ we can accomodate a wide range of architectual, technologists or technicians insurance needs by identifying cost effective solutions to meet your requirements. Professional indemnity insurance provides the necessary protection from liability claims that can arise from acts, errors or omissions in the course of an architect's professional activities.
Why do architects need professional indemnity insurance?
Although your architectural firm will invariably do its best to carry out work error free, mistakes will unfortunately occur, and frivolous allegations can be made. It is therefore essential architect's PI insurance is available to offer financial protection. Architects professional indemnity claims can have significant financial consequences if you are unfortunate enough to become the target of an allegation. Improper advice, mistake in the preparation of designs, breach of building regulations, incorrect planning application, identifying inadequate materials, or bodily injury and property damage claims that arise as a result of your actions. These types of disputes can be costly to defend, especially when there are multiple parties seeking to pass the blame and protect their own interests.
How much is professional indemnity insurance for architects?
We can provide indemnity insurance to RIBA architects, architectural technologists or technicians that covers their professional services. Policies starts at £246.40 per year or £20.53 monthly for a £100,000 limit. The availability and cost of architects insurance will depend upon a variety of factors including the size of your firm, project size, type of work undertaken, claims experience, your exposure to cladding, swimming pools and basement works. The premiums charged by insurers will be reflective of your perceived exposure to future claims whereby the insurer would be required to defend you and potentially pay damages.
Features of architects PI insurance
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Broad definitions - claims made arising from any civil liability
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Costs of prosecuting claims for infringement of the insured’s intellectual property rights
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Defence costs in dealing with certain criminal proceedings and costs of representation at any inquiry
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Collateral warranties – claims arising from these are explicitly covered with no limit on assignments
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Defence costs (lawyers, court costs, experts etc.) are payable in addition to the indemnity limit
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Data protection - covers legal costs incurred to defend a criminal prosecution under the Data Protection Act.
Additional architect insurance covers available
There are a number of business covers available to your architectural firm to assist with mitigating risk. At Get Indemnity™ we can offer a comprehensive package to ensure you're covered should the worst happen.
Compare architects professional indemnity quotes starting from £246.40
Understanding architect's liability risk to claims
Low Risk
Aborted Work, Architectural Design Services, Construction Management, Landscape Architecture, Project Management, Refurbishment / Non-structural
Medium Risk
Civil Engineering, Building Surveying, Environmental Engineering, Structural Engineering, Golf Course Landscaping
High Risk
High Rise Cladding, Basement Work, Swimming Pools, Soil Engineering, Piling and Foundations
Architects Registration Board (ARB) insurance:
Minimum limit and run-off cover
The ARB requires a minimum limit of £250k each and every claim. However, it is up to each firm to determine they have sufficient architects insurance. The ARB also recommends that architects purchase a minimum six years of run-off cover upon cessation of business.
What insurance do I need as an architect?
Do I need professional indemnity insurance?
All architecture firms will need professional indemnity insurance to operate. This is by far the most important insurance protection an architect can purchase given the specislist nature of the work and advice provided. A policy will provide coverage for the legal costs associated with defending claims and provide for damages awarded by the courts.
Do I need employers liability insurance?
Most architecture firms will employ staff therefore you will be required to purchase employers' liability insurance under UK law. An employee could trip and fall at your offices leaving them with a permanent back condition. Architect's insurance will provide a legal defence and cover the cost of damages from an employee suffering a bodily injury or illness whilst working for you.
Do I need public liability insurance?
It's worth considering public liability insurance if you have clients or members of the public visit your premises, or if you visit clients at their premises. A client could accidently slip and suffer a serious head injury at your offices. The architects insurance will provide a legal defence and cover the cost of damages. Without adequate protection the cost of personal injury cases can be significant.