AE Blog - Understanding a Design Professionals Insurance Policy

Most architects, engineers, environmental consultants and surveyors feel the most important coverage for them is professional liability insurance. For a more seamless type of insurance coverage the business owner’s policy should be included.

A business owner’s policy is actually two types of coverage in one. The first part of the policy is the property coverage. Typically the property portion of the policy protects business personal property such as tables, chairs, fax machines, computers, software, plotters, and printers. This is written on a replacement cost basis.

The second part of the bop is called general liability or GL. Many firms refer to it as “slip and fall insurance” but it is much more than that. It provides coverage for bodily injury and property damage at the office or away from the premises such as at a job site. Also included under the GL is a medical, product and completed operations, personal and advertising injury. Non-owned and hired auto liability coverage can also be provided for rented or borrowed autos and excess coverage over employee’s personal auto coverage while using their personal car for business purposes.