Can you give me a ballpark number I should expect to pay for professional and general liability insurance per year?
Just got a quote for $2k. Sound legit?
How much would it cost to practice with a partner?
el jeffe
Dec 1, 15 5:14 pm
$2k is the starting point, it'll only go up from there.
wurdan freo
Dec 1, 15 7:13 pm
Sounds cheap. Why dont you get three quotes? Better yet get 5 and make one of them from Holmes and Murphy. Make each agent explain the coverage until you understand it and google "what to ask your insurance agent when buying prof. Liability ins."
null pointer
Dec 1, 15 7:37 pm
2k for how much?
I'm at like 3k doing condos and in the 2-5M range. NY Metro though, and I self-certify plans too.
Carrera
Dec 1, 15 10:52 pm
Insurance for architects – a complete waste of money. Insurance against what? Practiced for over 30 years with projects in excess of $750 Million without it…the only time we got sued is when we tried to collect money from deadbeats (countersuits). Only bought it on a per project basis when forced to and we made the clients pay for it.
Attorneys don’t sue people who don’t have money and architects have insurance because they don’t have the sense to hide their money (like everybody else)….if you have insurance you are certain to be sued….like having a bull’s-eye on your forehead.
JeromeS
Dec 2, 15 8:14 am
I agree. Use the addendums to the AIA contract and call it a day.
l3wis
Dec 2, 15 9:51 am
they're not teaching us to forgo insurance in our graduate school professional practice class...
JeromeS
Dec 2, 15 10:52 am
about the only place we are told NOT to buy insurance is in the checkout line at BestBuy.
Carrera
Dec 2, 15 11:02 am
^ Second biggest money making scheme of all time, following banking.
gruen
Dec 5, 15 9:28 am
I pay $1.5k yearly on the east coast. General liability is another $400.
Miles Jaffe
Dec 5, 15 10:54 am
When government realized how profitable protection rackets were they them illegal. Then they corpratized and mandated insurance. It's organized crime either way.
Hi Friends,
Newly licensed in California here...
Can you give me a ballpark number I should expect to pay for professional and general liability insurance per year?
Just got a quote for $2k. Sound legit?
How much would it cost to practice with a partner?
$2k is the starting point, it'll only go up from there.
Sounds cheap. Why dont you get three quotes? Better yet get 5 and make one of them from Holmes and Murphy. Make each agent explain the coverage until you understand it and google "what to ask your insurance agent when buying prof. Liability ins."
2k for how much?
I'm at like 3k doing condos and in the 2-5M range. NY Metro though, and I self-certify plans too.
Insurance for architects – a complete waste of money. Insurance against what? Practiced for over 30 years with projects in excess of $750 Million without it…the only time we got sued is when we tried to collect money from deadbeats (countersuits). Only bought it on a per project basis when forced to and we made the clients pay for it.
Attorneys don’t sue people who don’t have money and architects have insurance because they don’t have the sense to hide their money (like everybody else)….if you have insurance you are certain to be sued….like having a bull’s-eye on your forehead.
I agree. Use the addendums to the AIA contract and call it a day.
they're not teaching us to forgo insurance in our graduate school professional practice class...
about the only place we are told NOT to buy insurance is in the checkout line at BestBuy.
^ Second biggest money making scheme of all time, following banking.
I pay $1.5k yearly on the east coast. General liability is another $400.
When government realized how profitable protection rackets were they them illegal. Then they corpratized and mandated insurance. It's organized crime either way.