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Insurance For Architects

Contractors Insurance is a trusted commercial insurance brokerage firm based in Ontario that offers award-winning services and programs. Our vast experience includes providing various commercial insurance needs to our clientele of contractors, tradespeople, and professionals.

One of our specializations is providing personalized insurance programs to architects and other business professionals. So whether you are a self-employed architect or part of a firm, our customized architect insurance that covers unexpected liabilities can prevent severe financial loss.

Over the years, we have provided top-notch professional insurance services to multiple Ontario architects, which helped us garner industry recognition. If you’re looking for an insurance provider who can be with you in every step, you can have peace of mind with Contractors Insurance.

What Is Architect Insurance?

Architect insurance is a type of professional liability insurance (PLI) that protects architects and firms. This insurance provides financial coverage if an individual or firm is liable for damages.

According to CALA-ROAC, an architect must comply with the jurisdictional requirements before offering architectural services to the public. If you are an architect based in Ontario, the Ontario Association of Architects (OAA) requires every architect to have PLI, whether practicing independently or as part of a firm.

PLI is a standalone insurance that most self-employed architects purchase. However, if you require additional coverage, we can provide personalized architect insurance bundling that is more practical in the long run.

You can include the following policies in your bundle:

Architect Professional Liability Insurance (PLI)

PLI, also known as Errors and Omissions (E&O) insurance, is mandatory for architects, whether they are practicing independently or with a firm. When in this line of practice, you must be detailed and precise. However, there is no guarantee that every project will be error-free.

When a mistake happens, your clients and other business-related parties can sue you, and you will need to defend yourself. PLI can cover legal and settlement fees for the following:

  • Negligence or perceived negligence;
  • Errors or perceived errors;
  • Inaccurate or poor advice;
  • Undelivered service and missed deadlines;
  • Misrepresentation; and
  • Breach of contract.

Commercial General Liability (CGL) Insurance

Commercial general liability insurance (CGL) covers damages and fees involving third-party liabilities. Below are some examples of third-party liabilities:

  • Injuries caused by accidents within business premises;
  • Accidental property damage caused by your work or employee’s work and business operations; and
  • Advertising or reputational injuries (libel, defamation, slander, and so on).

Commercial Property Insurance

This insurance protects your place of business from potential theft and vandalism, natural disasters that damage or limit accessibility, and business interruptions caused by aforementioned examples.

Cyber Liability Insurance

Today, businesses heavily rely on technology and the Internet. This insurance covers you and your business from liabilities that arise from potential data breaches and other cybercrimes.

Fraud Insurance

This type of insurance is optional but vital if an employee or third party steals your trade secrets or clientele and starts a business of their own.

Why Is It Important For Ontario Architects To Have Architect Insurance?

Architects are involved in an industry where there can be no room for mistakes. And when mistakes happen, regardless of their size, it can lead to a lawsuit. Architect insurance protects individuals and firms from financial loss due to such scenarios.

If you own a firm, we highly recommend you purchase additional coverage to protect yourself and your business from other liabilities not covered by professional liability insurance.

Architect Insurance Claim Examples

Example #1

  • Problem Icon

    You successfully turn over a project. A few months later, the client finds faults and sues.

  • Outcome Icon

    Your PLI can cover legal and settlement fees.

Example #2

  • Problem Icon

    An individual slips within your business premises and gets injured.

  • Outcome Icon

    He successfully sues. Your CGL insurance can cover medical and legal costs.

Example #3

  • Problem Icon

    There is a data breach, and your client’s information gets leaked.

  • Outcome Icon

    Your client successfully sues. Your cyber liability insurance can cover legal and settlement fees, depending on your policy limit.

A Trusted Provider of Architect’s Insurance in Ontario

At Contractors Insurance, we offer only award-winning commercial insurance services and programs. Here are some benefits you can expect from us:

Tailor-Fit Insurance Plans

When you partner with us, we will be hands-on in customizing your insurance plans according to your needs. Whether it’s architect professional liability insurance or additional coverage that you’re looking for, we can identify and remove unnecessary riders that will not serve you. In short, you only pay for what you need.

Absolute Transparency

At Contractors Insurance, we provide absolute transparency in discussing every detail found in a policy. How it works, what’s covered and excluded, triggers, and filing claims are just a few of the few elements we will ensure that you understand completely. And if you find something that does not work for you, we go the extra mile to find a solution.

Comprehensive Insurance Education

We believe in equipping our clients with the necessary information and assistance before securing a plan with us. Education helps our clients make informed decisions regarding their insurance needs, which in the long run, makes their policy work for them instead of the other way around.

FAQs About Architect Professional Liability Insurance

Architect insurance usually costs $70 per month for a coverage limit of $1 million dollars. Additional coverage requires additional costs. But if you partner with an excellent insurance provider, like Contractors Insurance, that can offer insurance bundling, you will have access to more feasible options.

The OAA requires individuals and firms to have PLI before offering their services to the public.

Ready To Secure Your Business?

Contractors Insurance is an award-winning insurance brokerage firm based in Ontario. Our personalized insurance plans enable individuals and businesses to have peace of mind that they are in good hands. If you are searching for a trusted insurance provider that can provide architect insurance or a bundled architect insurance plan, look no further than Contractors Insurance.

Set up your business’s future and success with our insurance plans today. Click here to get started.

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