It’s crucial for any surveyors firm to obtain surveyors insurance which is able to be customized to meet the requirements and size of the firm. It is common for a lot of firms to make the mistake of choosing a generic type of surveyors errors and omissions insurance, and frequently they don’t realize the error until it’s too late. The sad reality is that in the vast majority of cases, such policies fail to cover the full extent of legal and court expenses that are going to be required, or you’re stuck paying for a policy that is above and beyond what your firm will require. Either way, your firm loses money as a result of being unable to find surveyors professional liability insurance that works best for you specifically.
In the event of a lawsuit being filed against the firm for alleged negligence or mistakes, professional liability insurance coverage for surveyors will provide protection. The surveyor’s legal defense will be completely covered which is absolutely vital, because even if the court finds the firm free from liability, the cost of a legal defense are known to 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 Maryland Supreme Court. The costs of the legal defense were quite significant, even though at the end of the day, the court decided that the land surveyor was not to be liable.
Most surveyors insurance works on a claims-made basis, meaning surveyor firms have to make sure their surveyors E & O insurance coverage doesn’t lapse in order to ensure they’re protected in the event of a lawsuit. Since the statute of limitations can be several years, the policy you’re covered under at the time of the work provided needs to still be in effect at least as long as the statute of limitations permits a lawsuit to be made. Fenner and Esler is going to also go over risk management strategies for your practice, a service that you aren’t likely to find from bigger surveyors professional liability brokerages.
Fenner & Esler is an independent brokerage providing quality services when it comes to:
Environmental Consultants Insurance
Surveyor E&O Company
When shopping for the best surveyor E & coverage which is customized for the size and needs of your firm, it’s important for you to find an independent brokerage with agents possessing years of experience building customized professional liability insurance coverage for surveyors in Maryland. Fenner and Esler Insurance is an independent surveyors PL insurance broker that offers a wide variety of top-rated insurance product. We have been providing the best E&O for surveyors in Maryland for over three decades. To find out additional information regarding how we can meet your needs, contact Fenner and Esler at (201) 262-1200.