Professional Indemnity Insurance For Architects

Professional indemnity insurance for architects is a type of insurance policy that provides coverage to the architects for any kind of legal liability arising in case any client decides to file a complaint in a court of law. Architects PI Insurance compensates the client for their loss on behalf of the architect.

₹1 Crore cover starting at ₹17,700/year⁺

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Features of Professional Indemnity Insurance for Architects

Professional Indemnity Insurance comes with several features. They are as follows:

Provides financial protection from lawsuits filed against the architects.

Assurance to the clients in case of any discrepancy arises in the service provided by the architect.

PI Insurance enhances the brand image as well as the goodwill of the architect.

Architects can run their business smoothly with PI insurance in effect.

Architects can get more tenders as some of the contractors and government authorities as for professional indemnity insurance before giving the tender.

PI insurance for architects increases credibility as the client does not have to worry about suffering any unforeseen loss and gets coverage for it.

Professional Indemnity Insurance for Architects: Inclusions

Professional indemnity insurance provides coverage for the following:

In case of loss or damage caused to the client due to negligence.

In case of loss of client’s data or documents.

Coverage for claim investigation expense.

Coverage for defamation and libel.

In case there is a financial loss caused to the client.

Coverage for unintentional breach of confidentiality.

Professional Indemnity Insurance for Architects: Exclusions

Professional indemnity insurance does not provide coverage for the following:

In case the insured intentionally harms the client and causes financial loss or slander, the insurer will not provide coverage for it.

The insurance plan does not provide coverage for any illegal acts and lawsuits filed against architects for getting involved in any illegal activity causing loss to the clients.

In case of any regular accident that is not a part of your work or has not happened in your workplace will not be covered. (For this you can purchase general liability insurance).

Any loss or damage caused due to a terrorist attack will not be covered.

Any kind of contractual liability between the architect and third party will not be covered under the insurance plan.

The PI for architects does not cover the dispute between the architect and his/her employee.

How to Raise Claim Under Professional Indemnity Insurance Policy?

In order to raise a claim online, follow the steps given below:

Intimate With Your Insurer: In order to raise a claim, you have to inform the insurance company about the incident.

Keep Required Documents Ready: Once you get in touch with the insurer, they will ask you to submit several documents to begin the claiming process.

Fill In Claim Form: Ask the insurance company for the claim form. Fill it up and submit it along with the required documents as asked by the insurer.

Give Information To Inspector: Once you have submitted the claim form, the insurer will send someone to inspect the authenticity of the claim raised. Make sure to tell them everything they want to know best to your knowledge.

Compensation: Once the inspector is satisfied with the raised claim, the insurance company will initiate the compensation.

Professional Indemnity Insurance for Architect- FAQs

Que 1: Is it mandatory to purchase an architect indemnity insurance?

Ans: No, it is not mandatory to purchase pi cover for architects but it is recommended to the architects as it provides coverage for unforeseen legal liabilities caused due to any lawsuit, libel, slander, etc.

Que 2: Apart from architects, who else can purchase a PI insurance policy?

Ans: Apart from architects, Doctors, engineers, lawyers, CA, financial accountants, etc. can purchase a Professional indemnity insurance policy.

Que 3: Does professional liability insurance provide coverage for disputes between the architect and the employee working under him/her?

Ans: No, professional indemnity insurance will not provide coverage for disputes between the architect and the employee working under him/her.

Que 4: Does professional indemnity insurance provide coverage for the damage caused due to war or war-like situations or a terrorist attack?

Ans: No, the professional indemnity insurance for architects does not provide coverage for the damage caused due to war or war-like situations or a terrorist attack.