Whilst Architects in the UK are recommended to have at least £250,000 worth of cover, a claim for negligence could far outweigh this sum and arise from a straightforward contract with an apparent low risk profile. Insurance cover also includes consequential losses such as delay and both your legal costs and the claimants legal costs.
At Alice Castle we will help you weigh up the limit of indemnity as a balance versus the cost of the insurance. We provide expert advice on all areas in relation to any collateral warranties you may enter into and support you when you need to notify claims and monitor them on an ongoing basis on your behalf.
We can now quote over the phone in minutes if your firm’s fee income is below £500,000 and you have no basement or swimming pool work and you have had no claims in the last 6 years. You will need to tell us in percentage terms what areas of work your fees are derived from, which you can get from the information you would have provided to your insurers last year.