Why do Architects need it?

Don’t let a potential mistake that falls through the cracks become a permanent problem. Instead, let BizCover ease your worries with insurance for architects. With just a few clicks or a single phone call you can get covered instantly, so the only thing that needs to stand the test of time is your grand design.

As Frank Loyd Wright once said “You can use an eraser on the drafting table or a sledge hammer on the construction site”…. or you can use BizCover!

Did you Know?

The architecture profession in Australia is regulated by  each of the States and Territories, with each having separate Acts, Regulations and Registration Boards.

For information regarding the requirements for each jurisdiction check on the Architects Accreditation Council of Australia website.

Insurance for Architects

Professional Indemnity*

As an architect or draftsperson, you understand the challenges of designing and delivering complex projects. Your work has the potential to cause serious issues if things do not go according to plan.  A simple error or omission could lead to a costly Professional Indemnity claim.

Thankfully, Professional Indemnity insurance is designed to provide your business with a solid plan. It helps protect businesses and individuals that provide specialist services or professional advice from losses caused by actual or alleged negligence in the advice or service provided.  For Professional Indemnity claims indemnified under your policy, it will cover the compensation payable to a third party together with defence costs (which can include legal fees, investigation costs and expert fees).

Did you know that Professional Indemnity insurance is known as ‘claims made’ cover, which means you need PI insurance to be in place when the claim is made against you.  So, even if you have shut up shop, retired or decided you’d rather be sipping cocktails on a tropical beach, you should consider run-off insurance  which continues to provide important Professional Indemnity insurance for your business for any claims arising from work you do before finishing up but which are notified to you after the doors have closed.

Public Liability Insurance*

Do you need Public Liability insurance? The short answer is probably yes. Chances are you’ll have regular contact with clients, contractors and the general public. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.

Business Insurance*

Your clients bring in your income, but where would you be without your business assets? Without the right cover, you could be hit with a few unwanted challenges that could leave you reaching deep into your pockets.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances.  In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.

Management Liability*

If you’re a company director or senior manager, we’re sure you don’t want any unwanted surprises that may leave you personally liable. Management liability insurance protects directors and officers and the insured company itself from the many exposures relating to the management of a company. Owners and those responsible for the management of a company have specific responsibilities which can result in personal liability for alleged or actual wrong doing.

Could this happen to your business?

An architect prepared a town planning application for a self-storage facility using computer-assisted design. While preparing the drawings there was an error inputting data into the system which would (and did) result in the development being built three metres shorter than planned. The property was then subsequently sold to a development company.

During construction of the self-storage facility, it was discovered that only 198 self-storage units would be constructed and not the 235 as contained in the original design.  The property developer claimed from the architect over $500,000 in damages due to loss of income that would be incurred by having fewer storage units and for the decrease in value of the business.  Luckily, the architect’s professional indemnity insurer was there to pick up the bill!

*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.  The information contained on this web page is general only and should not be relied upon as advice.

Could this happen to your business?

An architect prepared a town planning application for a self-storage facility using computer-assisted design. While preparing the drawings there was an error inputting data into the system which resulted in the development being built three metres shorter than planned. The property was then subsequently sold to a development company.

During construction of the self-storage facility, it was discovered that only 198 self-storage units would be constructed and not 235 as was expected. The property developer claimed over $500,000 in damages due to loss of income that would be incurred by having fewer storage units and for the decrease in value of the business.

This is fabulous!! In the past applying for PI Insurance has been a slow painful exercise

Yammie O
Architecture & Surveying

This service is amazing, I won a client on Friday and now I am fully insured ready to start design work on Monday. Unbelievable!

Tessa R
Architecture & Surveying

Very easy and truly online service. Simple web interface layout as well.

Gajendra S
Architecture & Surveying

Simple easy to follow process, I liked that you could go back and change options and not have to refill options you had chosen already if you re-chose them

Nick B
Architecture & Surveying

So easy to do. I normally find this kind of thing daunting and confusing but this made it so much easier and quicker.

Casey Abrey C
Architecture & Surveying

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