What is architects’ professional indemnity insurance?
As an architect, professional indemnity (PI) insurance can help protect you from allegations of negligence, breach of duty of care, errors and omissions.
This could be mistakes in your initial drawings, failing to obtain the necessary planning permission, hiring negligent subcontractors, or failing to anticipate an issue that later results in a redesign or rebuild.
Basically, if you do anything that delays a project or causes your client to experience personal or financial loss, architects’ professional indemnity insurance could cover your legal costs and contribute to any resulting compensation payouts.
The Architects Registration Board recommends that architects have at least £250,000 worth of insurance per claim for professional indemnity insurance.
It points out that work carried out for free could still result in a claim being made against an architect, so you’ll need to make sure that any pro bono work you carry out is covered too.
You may also look to consider taking out at least six years of ‘run-off cover’ after you stop trading. This will help protect you from claims made against any work that you’ve already finished. The reason for this is that a client can sue you for negligence or breach of contract up to six years after the completion of a project.