It’s vital for any surveyors firm to obtain surveyors insurance that is able to be customized to fit the size and requirements of the firm. Often, many firms to make the mistake of choosing a generic type of errors & omissions insurance coverage for surveyors, and usually they fail to see the error until it’s too late. The sad reality is that in most situations, these types of policies won’t cover the full extent of legal and court expenses that will be needed, 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.
The advantage to surveyors E & coverage is that provides coverage for 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. Also, surveyor’s PLI will provide coverage for the surveyor’s legal defense, since even if the court finds the firm free from liability, the cost of a legal defense frequently run into the tens of thousands of dollars. One example is a 2000 lawsuit that was pursued against a land surveyor that went all the way to the Colorado Supreme Court. Even though the judicial system didn’t find the land surveyor at fault, the defense’s cost was great.
Errors and Omissions Coverage Surveyors
It’s also essential to locate a firm that is dependable and will still be operating when the time comes for you to seek the protection of your E&O for surveyors. This is because surveyor errors & omissions insurance 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 covered under at the time of the work provided should still be in effect at least as long as the statute of limitations permits a lawsuit to be made. Fenner and Esler will additionally review strategies for risk management for your practice, a service that you’re not likely to obtain from bigger surveyors professional liability brokerages.
Fenner & Esler is an independent brokerage providing quality services when it comes to:
Environmental Consultant Insurance
Surveyors E & O Insurance Coverage Company
Finding an independent brokerage with experienced agents is without a doubt to your greatest benefit. If you’re looking for a customized policy for surveyor E&O insurance, you need to find a brokerage that has experience in your area and willing to set you up with the best possible option. If you’re searching for a quality surveyor E&O insurance coverage company that offers a wide variety of top-rated insurance product, look no further than Fenner and Esler Insurance. We have over 30 years of experience in providing E & O coverage for surveyors in Colorado. To learn more regarding how we can meet your needs, contact Fenner and Esler at (201) 262-1200.