It is crucial for any surveyors firm to obtain surveyor insurance which can be customized to suit the size and requirements of the firm. A great deal of survey firms opt to get merely a generic choice when it comes to E&O for surveyors, which may provide either coverage beyond the firm’s requirements or insufficient coverage that leaves the firm open to the financial damages that come with claims or litigation. The unfortunate truth is that in most cases, such policies don’t cover the full amount of court and legal costs that will be required, or you’re stuck paying for a policy that is above and beyond what your firm will require. 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, surveyors errors and omissions coverage will provide protection. The surveyor’s legal defense will be covered completely which is absolutely vital, as court fees can be catastrophic 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 Washington D.C. Supreme Court. Despite the fact that the judicial system didn’t find the land surveyor at fault, the defense’s cost was substantial.
It’s also important to locate a firm that is dependable and will still be around whenever the time comes for you to seek the protection of your surveyor PL insurance. This is owing to the fact that surveyors E&O insurance coverage works on a claims-made basis, and in case of your coverage lapsing you will discover that you’re unprotected. Since the statute of limitations can be several years, the policy you are protected 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 take into account that unlike larger surveyor insurance brokerages, Fenner and Esler will review risk management strategies for your practice.
Fenner & Esler is an independent brokerage supplying quality services in regards to:
Environmental Consultants Insurance
Surveyor Professional Liability Insurance Brokerage
If you’re looking for the best surveyor E & O which is customized for the needs and size of your firm, it’s important for you to find an independent brokerage with agents possessing years of experience customizing surveyors professional liability insurance coverage in Washington D.C.. Fenner and Esler Insurance is an independent liability insurance brokerage for surveyors that offers a wide range of top-rated insurance product. We have over 30 years of experience in providing errors and omissions insurance for surveyors in Washington D.C.. If you would like to learn more about what we can do, call us at (201) 262-1200.