It’s very important for any surveyors firm to obtain surveyor insurance which is able to be customized to suit the size and requirements of the firm. Many survey firms opt to get only a one size fits all choice in terms of PL insurance coverage for surveyors, which may provide either coverage beyond the firm’s needs or insufficient coverage that leaves the firm open to the financial damages associated with claims or litigation. It is a widely accepted fact that these kinds of policies frequently neglect to cover the extent of court and legal fees you may incur, or you could be stuck paying for insurance that is far more than what is required for your individual firm. Either way, your firm loses money as a result of being unable to find E&O insurance for surveyors that suits your individual firm best.
In the event of a lawsuit being filed for supposed mistakes or negligence against the firm, surveyor insurance coverage will offer protection. The surveyor’s legal defense will be covered completely which is absolutely essential, since court fees can be catastrophic even if the firm is found free of any liability. One example is a 2000 lawsuit that was pursued against a land surveyor which went as far as the Delaware Supreme Court. The legal fees were quite substantial, even though at the end of the day, the court found the land surveyor not to be liable.
Surveyors Liability Insurance Coverage
It is also vital to find a firm that is dependable and will still be around when the time comes for you to seek the protection of your surveyors insurance coverage. This is owing to the fact that E&O for surveyors works on a claims-made basis, and if your coverage lapses you will find yourself unprotected. Since the statute of limitations can be several years, the policy you’re 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. Additionally consider that unlike larger professional liability insurance companies for surveyors, Fenner and Esler will go over strategies for risk management for your practice.
Fenner & Esler is an independent brokerage providing quality services when it comes to:
Environmental Consultant Insurance
Surveyors PL Brokerage
Discovering an independent brokerage with experienced agents is definitely the best thing you could do. If you want a customized policy for errors and omissions insurance for surveyors, you want a brokerage that has experience in your area and willing to get you the best possible option. Fenner and Esler Insurance is an independent surveyor errors and omissions insurance coverage brokerage that carries a broad range of highly rated insurance product. We have been providing quality surveyors errors and omissions insurance in Delaware for over 30 years. To find out additional information about how we can meet your needs, contact us at (201) 262-1200.