It’s very important for any surveyors firm to find surveyors insurance which is able to be customized to suit the size and requirements of the firm. A great deal of survey firms opt to get merely a one size fits all choice when it comes to surveyor PL insurance, which may provide either coverage beyond the firm’s needs or insufficient coverage that leaves the firm vulnerable to the financial damages associated with claims or litigation. It is known that such policies typically fail to cover the extent of court and legal fees you might require, or you may be stuck paying for coverages that you will never be able to benefit from. Either way, your firm loses money as a result of being unable to find PL insurance for surveyors that suits your individual firm best.
The advantage to errors and omissions insurance for surveyors is that covers the surveyor in the event a lawsuit is filed against the firm for allegations related to allegations of negligence or mistakes made during the survey. Additionally, surveyor’s PLI 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 can run into the tens of thousands of dollars. One example is a 2000 lawsuit that was pursued against a land surveyor which went all the way to the Massachusetts Supreme Court. The legal fees were very significant, despite the fact that at the end of the day, the court found the land surveyor not to be liable.
Surveyors E & O Insurance
It’s also crucial to find a firm that is reliable and is going to still be operating whenever it comes time for you to seek the protection of your surveyors liability insurance coverage. This is because surveyors insurance coverage 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 enforced at the time of a job should be in force for as long as the statute of limitations permits lawsuits. Also consider that contrary to bigger PL companies for surveyors, Fenner and Esler will go over risk management strategies for your practice.
We at Fenner & Esler take pride in being an independent insurance broker, providing services of the highest quality in regards to types of insurance such as:
Environmental Consultants Insurance
Insurance Broker Surveyor
Discovering an independent brokerage with experienced agents is without a doubt a wise choice. If you want a customized policy for errors and omissions insurance for surveyors, you want a brokerage with experience in your field and willing to set you up with the best possible option. If you’re looking for a quality professional liability insurance broker for surveyors that offers a wide variety of top-rated insurance product, look no further than Fenner and Esler Insurance. We have more than three decades of experience in providing E & O for surveyors in Massachusetts. If you would like to learn additional information regarding how we can meet your needs, contact us at (201) 262-1200.