It is absolutely essential for any surveyors firm to find surveyor insurance that is able to be customized to meet the requirements and size of the firm. A great deal of survey firms opt to get only a generic choice in terms of E&O coverage for surveyors, which may provide either coverage beyond the firm’s needs or coverage that’s insufficient, leaving the firm open to the financial costs that come with claims or litigation. It is a widely accepted fact that these sorts of policies typically neglect to cover the extent of legal and court fees you might incur, or you may be stuck paying for coverages that you will never be able to take advantage of. In either circumstance, the firm stands to lose a significant amount of money.
In the event of a lawsuit being filed for supposed mistakes or negligence against the firm, insurance for surveyors will offer protection. The surveyor’s legal defense will be covered completely which is absolutely crucial, since even if the court finds the firm to be not liable, 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 Connecticut Supreme Court. The legal costs were quite substantial, despite the fact that when all was said and done, the court found the land surveyor not to be liable.
Since surveyors insurance usually works on a claims-made basis, surveyor firms have to be certain their liability insurance for surveyors does not lapse in order to be certain 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 needs to be in force for as long as the statute of limitations permits lawsuits. Fenner and Esler will additionally review strategies for risk management for your practice, a service which you aren’t likely to find from larger E & O insurance coverage brokerages for surveyors.
We at Fenner & Esler take pride in being an independent insurance broker, supplying services of the highest quality when it comes to types of insurance such as:
Environmental Consultant Insurance
Surveyors Professional Liability Insurance Brokerage
If you’re shopping for the best surveyor liability insurance coverage that is customized for the size and needs of your firm, it’s important for you to find an independent brokerage with agents that have years of experience building customized professional liability insurance for surveyors in Connecticut. Fenner and Esler Insurance is an independent E & O insurance company for surveyors that carries a wide range of highly rated insurance product. We have been providing quality surveyor liability insurance in Connecticut for more than 30 years. If you would like to find out more regarding how we can meet your needs, contact Fenner and Esler at (201) 262-1200.