It’s crucial for any surveyors firm to obtain surveyor insurance which is able to be customized to meet the size and requirements of the firm. It is common for a lot of firms to make the mistake of opting for a generic type of surveyors liability insurance coverage, and usually they fail to become aware of the error until they find themselves in a situation where coverage is needed and not there. The unfortunate truth is that in the vast majority of situations, such policies fail to cover the full extent of legal and court expenses that will be required, or you are forced into paying for a policy that is far beyond the requirements of your firm. In either circumstance, the firm stands to lose a significant amount of money.
In the event of a lawsuit being filed against the firm for alleged negligence or mistakes, errors and omissions coverage for surveyors will offer protection. In addition, surveyor’s PLI completely covers the surveyor’s legal defense, as court fees can be devastating even if the firm is not found to be liable. Take this example. A plaintiff pursued a lawsuit against a land surveyor in 2000, all the way to the California Supreme Court. The costs of the legal defense were quite substantial, despite the fact that in the end, the court decided that the land surveyor was not to be liable.
Professional Liability Insurance Surveyor
Since surveyors insurance usually works on a claims-made basis, surveyor firms need to make sure their errors and omissions insurance coverage for surveyors does not lapse in order to ensure they’re protected in the event of a lawsuit. Since the statute of limitations can be several years, the policy you’re protected under at the time of the work provided needs to still be in effect at least as long as the statute of limitations allows for a lawsuit to be made. Also take into consideration that unlike bigger professional liability brokerages for surveyors, Fenner and Esler will review strategies for risk management for your practice.
Fenner & Esler is an independent broker supplying quality services in regards to:
Environmental Consultants Insurance
Surveyor Liability Insurance Broker
Discovering an independent brokerage with experienced agents is definitely in your best interest. If you’re in the market for a customized policy for PL insurance for surveyors, you need to find a brokerage that has experience in your field and willing to set you up with the best possible option. If you’re looking for a quality surveyor liability insurance broker that offers a wide range of top-rated insurance product, look no further than Fenner and Esler Insurance. We have over thirty years of experience in providing surveyor E&O insurance coverage in California. If you would like to learn additional information regarding how we can meet your needs, call Fenner and Esler at (201) 262-1200.