Professionals such as architects know that there are two parts to setting up a successful business. The first part is providing excellent service to their clients. The second is structuring their business and ensuring proper protection. An integral part of safeguarding your business is obtaining the right insurance policy. Ask your insurer about specialized insurance for architects in order to get the most out of your policy.
Know Your Risks
When you purchase insurance as a professional, make sure your policy is tailored to the risks inherent in your specific profession. You do not want to be paying premiums to protect against events that are extremely unlikely to occur, while remaining vulnerable to more common risks. Choose an insurance adjuster who understands the risks that are particular to your profession.
Choose the Right Coverage
Insurance for architects should include protection against risks that are typical to most businesses, as well as liability insurance for malpractice and professional liability claims. Depending on the size and scope of your business, you may also need employment practices insurance in the case of employee disputes or suits, directors and officers insurance if your business is a corporation with shareholders, and cyber liability insurance.
To enjoy maximum protection against financial loss, look for an experienced insurance adjuster who is knowledgeable about insurance for architects and about the specific risks faced by architects.