It’s absolutely essential for any surveyors firm to obtain surveyor insurance that is able to be customized to fit the size and requirements of the firm. It’s common for a lot of firms to make the mistake of opting for a generic type of surveyors liability insurance, and frequently they don’t see the error until they find themselves in a situation where coverage is needed and not there. It is known that these kinds of policies typically fail to cover the extent of legal and court fees you may incur, or you could be stuck paying for a policy that is far above and beyond what your firm requires. Either way, your firm loses money as a result of being unable to find surveyor E&O insurance coverage that works best for you specifically.
The advantage to surveyor E&O coverage is that provides coverage for the surveyor in the case there is a lawsuit filed against the firm for allegations related to allegations of negligence or mistakes made during the survey. The surveyor’s legal defense will be completely covered which is absolutely vital, because court fees can be devastating even if the firm is not found to be liable. One example is a 2000 lawsuit that was pursued against a land surveyor which went all the way to the supreme court of Massachusetts. The costs of the legal defense were very significant, even though when all was said and done, the court decided that the land surveyor was not at fault.
Errors & Omissions Insurance Surveyors
Since surveyor insurance usually works on a claims-made basis, surveyor firms need to make certain their E & O for surveyors doesn’t lapse in order to ensure they’re protected in case of a lawsuit. The statute of limitations for liability can be several years, so the policy enforced at the time of a job should be in force for the amount of time the statute of limitations allows lawsuits. Additionally take into consideration that contrary to bigger professional liability brokers for surveyors, Fenner and Esler will review strategies for risk management for your practice.
Fenner & Esler is an independent broker supplying quality services when it comes to:
Environmental Consultants Insurance
Surveyor E & O Company
Discovering an independent brokerage with experienced agents is without a doubt a wise move. If you want a customized policy for surveyors insurance, you need to find a brokerage with experience in your field and willing to find you the best possible option. If you are searching for a quality professional liability brokerage for surveyors that offers a broad range of top-rated insurance product, look no further than Fenner and Esler Insurance. We’ve been offering the best surveyors errors and omissions insurance in Massachusetts for more than thirty years. To learn more about how we can meet your needs, contact Fenner and Esler at (201) 262-1200.