It is very important for any surveyors firm to find surveyor insurance that is able to be customized to meet the requirements and size of the firm. Frequently, many firms to make the mistake of selecting a generic type of PL insurance coverage for surveyors, and often they fail to see their mistake until it’s too late. It is a widely accepted fact that such policies frequently fail to cover the extent of legal and court fees you may require, or you may be tricked into paying for a policy that is far more than what your firm requires. In either circumstance, the firm stands to lose a significant amount of money.
The advantage to E&O coverage for surveyors is that covers the surveyor in the case a lawsuit is filed against the firm for allegations related to allegations of negligence or mistakes made during the survey. Additionally, a surveyor professional liability completely covers the surveyor’s legal defense, because even if the court finds the firm free from liability, the costs incurred by a legal defense usually run into the tens of thousands of dollars. One example is a 2000 lawsuit that was pursued against a land surveyor which went as far as the supreme court of Washington State. Even though the judicial system didn’t find the land surveyor at fault, the defense’s cost was substantial.
Surveyor Professional Liability Insurance Coverage
It is also important to locate a firm that is dependable and is going to still be around whenever the time comes for you to seek the protection of your surveyor errors and omissions coverage. This is owing to the fact that PL insurance for surveyors works on a claims-made basis, and if your coverage lapses you’ll discover that you’re unprotected. Since the statute of limitations can be several years, the policy you are covered under at the time of the work provided should still be in effect at least as long as the statute of limitations allows for a lawsuit to be made. Fenner and Esler is going to additionally review strategies for risk management for your practice, a service which you aren’t likely to obtain from larger professional liability insurance brokers for surveyors.
Fenner & Esler is an independent brokerage providing quality services in regards to:
Environmental Consultants Insurance
Surveyor Insurance Broker
Discovering an independent brokerage with experienced agents is without a doubt the best thing you could do. If you want a customized policy for surveyor insurance coverage, you need to find a brokerage possessing experience in your field and willing to set you up with the best possible option. If you’re looking for a quality liability insurance company for surveyors 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 liability insurance coverage for surveyors in Washington State. If you would like to find out more about how we can meet your needs, contact us at (201) 262-1200.