It’s crucial for any surveyors firm to find surveyor insurance which is able to be customized to fit the size and requirements of the firm. A great deal of survey firms choose to use merely a generic choice when it comes to surveyor errors and omissions coverage, which may provide either coverage beyond the needs of the firm or coverage that’s insufficient, leaving the firm open to the financial costs associated with claims or litigation. The sad reality is that in the vast majority of situations, these kinds of policies don’t cover the full extent of court and legal fees that will be needed, or you are stuck paying for a policy that’s 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, errors and omissions insurance for surveyors will offer protection. In addition, surveyor’s PLI completely covers the surveyor’s legal defense, since even if the court finds the firm free from liability, the costs incurred by a legal defense usually 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 supreme court of New York. The costs of the legal defense were quite considerable, despite the fact that when all was said and done, the court decided that the land surveyor was not to be liable.
Liability Insurance Surveyor
Since surveyor insurance usually works on a claims-made basis, surveyor firms need to make certain their surveyor PL insurance coverage doesn’t lapse in order to be certain they’re protected in the event of a lawsuit. 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. Additionally take into consideration that contrary to larger insurance companies for surveyors, Fenner and Esler will go over strategies for risk management for your practice.
We at Fenner & Esler take pride in being an independent insurance brokerage, supplying services of the highest quality in regards to types of insurance like:
Environmental Consultant Insurance
Surveyors E&O Insurance Company
When looking for the best surveyors PL insurance that is customized for the needs and size of your firm, you need to find an independent brokerage with agents possessing years of experience customizing PL insurance for surveyors in New York. Fenner and Esler Insurance is an independent insurance brokerage for surveyors that offers a broad range of top-rated insurance product. We have more than three decades of experience in providing surveyors insurance coverage in New York. To find out additional information regarding how we can meet your needs, contact us at (201) 262-1200.