Architecture is a unique profession that requires specialist insurance to cover the range of risks that your business is exposed to. Architect insurance is specifically designed to cover these trading activities to safeguard your livelihood against the unexpected.
While the majority of your work may be office-based, you will need to ensure that your cover extends to visiting clients, as well as protecting your office, equipment, and liabilities. Architect office insurance is typically designed to incorporate these covers to suit your specific needs and can also include cover for specialist equipment away from your office.
You may be working as a sole trader or employ a team of professionals to assist you. As an employer, employers' liability insurance is required by law to protect your employees during the course of their employment. For example, if a member of staff fell and injured themselves at your office then they may be entitled to compensation. Employers' liability insurance would take care of this for you, and would also cover legal and medical costs incurred as a result.
Ensuring you have comprehensive architects insurance is fundamental to your business continuity. Your computer, CAD software, specialist equipment, documents and drawings are an essential part of your business and the projects that you are working on. If you were to suffer damage at your premises that rendered these unusable, your insurance could assist you in getting back to normal as quickly as possible, meaning minimal disruption to your clients and livelihood. If the worst did happen meaning you were unable to trade from your premises, business interruption insurance would cover loss of income and pay business expenses while you get back up and running.
As well as the risk of property damage and liability claims, consideration for the advisory aspect of your business should play a fundamental part of your insurance considerations. Even as a perfectionist, mistakes are sometimes made, and professional indemnity insurance can protect you against these errors. Typically professional indemnity insurance protects you against wrongful advice and mistakes in design work; as an architect this should be considered in addition to your office insurance policy. If you do require professional indemnity insurance please contact us as we can arrange this over the phone.
It takes a few minutes to get a range of quotes online or if you don't know what you need our advisors are on hand to arrange cover to protect your architect business and will talk through your business requirements, to get you the cover that's right for you.