It is very important for any surveyors firm to find surveyor insurance which can be customized to suit the requirements and size of the firm. Often, many firms to make the mistake of choosing a generic type of PL insurance for surveyors, and frequently they don’t become aware of the error until they find themselves in a situation where coverage is needed and not there. The unfortunate truth is that in most cases, these sorts of policies won’t cover the full extent of court and legal costs that will be required, or you are stuck paying for a policy that is above and beyond the requirements of your firm. 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. In addition, surveyor’s PLI will provide coverage for the surveyor’s legal defense, because even if the court finds the firm free from liability, the cost of a legal defense can run into the tens of thousands of dollars. Take this example. A plaintiff pursued a lawsuit against a land surveyor in 2000, taking it as far as the Washington State Supreme Court. The legal costs were quite significant, despite the fact that when all was said and done, the court found the land surveyor not to be liable.
Surveyor E & Coverage
It is also vital to locate a firm that is dependable and will still be operating when it comes time for you to seek the protection of your surveyor liability insurance coverage. This is owing to the fact that E&O insurance coverage for surveyors works on a claims-made basis, and if your coverage lapses you’ll find yourself unprotected. The statute of limitations for liability can be several years, so 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 go over strategies for risk management for your practice, a service which you aren’t going to find from larger liability insurance brokerages for surveyors.
Fenner & Esler is an independent brokerage providing quality services in regards to:
Environmental Consultant Insurance
Surveyors Liability Insurance Brokerage
Finding an independent brokerage with experienced agents is without a doubt the best thing you could do. If you’re in the market for a customized policy for PL insurance coverage for surveyors, 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 are looking for a quality PL broker for surveyors that offers a broad range of top-rated insurance product, look no further than Fenner and Esler Insurance. We have more than 30 years of experience in providing surveyor E&O coverage in Washington State. To learn more regarding how we can meet your needs, call Fenner and Esler at (201) 262-1200.