It’s crucial for any surveyors firm to obtain surveyor insurance that is able to be customized to meet the requirements and size of the firm. It’s common for a lot of firms to make the mistake of selecting a generic type of surveyors liability insurance, and frequently they don’t see the error until it’s too late. The unfortunate truth is that in most circumstances, these types of policies will not cover the full amount of court and legal fees that are going to be needed, or you’re stuck paying for a policy that is far beyond what your firm will require. Either way, your firm loses money as a result of being unable to find surveyors errors and omissions insurance coverage that works best for you specifically.
In the event of a lawsuit being filed for supposed mistakes or negligence against the firm, errors and omissions coverage for surveyors will provide protection. The surveyor’s legal defense will be completely covered which is absolutely vital, because court fees can be detrimental even if the firm is found free of any liability. One example is a 2000 lawsuit that was pursued against a land surveyor which went all the way to the supreme court of New Mexico. Despite the fact that the judicial system didn’t find the land surveyor at fault, the cost of this defense was substantial.
Surveyors E&O Insurance Coverage
Most surveyors insurance works on a claims-made basis, which means surveyor firms need to be certain their E&O insurance for surveyors doesn’t lapse in order to ensure they are protected in the event of a lawsuit. The statute of limitations for liability can be several years, so the policy you are covered under at the time of the work provided needs to still be in effect at least as long as the statute of limitations allows for a lawsuit to be made. Fenner and Esler is going to also review risk management strategies for your practice, a service that you’re not going to find from larger surveyor errors and omissions insurance coverage companies.
We at Fenner & Esler take pride in being an independent insurance broker, providing services of the highest quality in regards to types of insurance like:
Environmental Consultants Insurance
Surveyor Liability Insurance Brokerage
If you’re shopping for the best surveyors insurance coverage which is customized for the needs and size of your firm, it’s important for you to find an independent brokerage with agents that have years of experience customizing E & O for surveyors in New Mexico. Fenner and Esler Insurance is an independent surveyor insurance brokerage that offers a broad range of top-rated insurance product. We’ve got more than three decades of experience in providing E & O for surveyors in New Mexico. If you would like to find out more about how we can meet your needs, contact Fenner and Esler at (201) 262-1200.