Pam's Insurance Site

About Me

Pam's Insurance Site

When I bought my first house, I was already going into a lot of debt. I didn't have the money to seriously insure it, so I bought only the bare minimum without consulting an insurance professional. That was a big mistake on my part. It could have turned out alright. That is, if my house hadn't been in the path of a huge storm. Huge gale winds knocked a tree down straight through my roof. My house was practically destroyed, and my minimal policy didn't cover nearly enough. I spent years and years trying to get myself out of that financial mess. Since then, I have always been very cautious in learning about insurance and talking to the real professionals.


Latest Posts

Significant Factors That Influence Your Auto Insurance Quote
26 May 2021

The cost of auto insurance varies from one company

Top Benefits of Hiring an Auto Insurance Agent
23 April 2021

When you have just bought your dream car, you're e

Common Misconceptions About What Home Insurance Covers
22 March 2021

Many people who are buying a house for the first t

Protecting Yourself With Professional Liability Coverage
17 February 2021

The insurance coverage that engineers and other co

Becoming An Owner-Operator? Tips To Help You Get The Right Commercial Truck Insurance
15 January 2021

Breaking away from the mold by becoming an owner-o


Protecting Yourself With Professional Liability Coverage

The insurance coverage that engineers and other construction contractors will require can be critical to protecting them and their clients from accidents that could occur.

Understand The Unique Liability Needs Of Engineering Contractors

It is important to understand that those working in architecture and engineering can have very different liability needs than those that work in other professions. Errors and omissions with these professionals can lead to serious structural problems that may endanger lives or be expensive to correct. As a result, these individuals may need to purchase liability policies that are designed to cover the risks that these professions will face. Often, these policies will have higher coverage limits to account for the potential costs that can arise from engineering or architectural errors during construction projects.  

Balance Your Coverage Around The Size Of The Projects That You Do

Every insurance policy will have its own coverage limits that will have to be respected. Otherwise, you could be at a risk of finding that the damages caused by the accident exceed the limits of your coverage. This could result in you being personally liable for the additional costs. To avoid this situation, you should generally balance the amount of coverage that you carry based on the size of the projects that you generally accept. For example, a person that primarily designs single-family houses will likely have different liability coverage needs than a professional who works on large-scale commercial buildings. A professional liability insurance agent will be able to help you with assessing your particular coverage needs so that you can choose a policy that will protect you and your clients from the financial consequences of errors.

Review And Update Your Liability Coverage Every Couple Of Years

Once an individual has chosen a liability insurance policy to carry, it can be tempting for them to simply keep the same policy for many years. However, this is usually not the best course of action as a person's insurance needs and requirements will change over time, and it can be extremely important to update their liability coverage to make sure that it is compatible with their current professional needs. Furthermore, updating liability coverage may give you opportunities to take advantage of specials and other discounts that could reduce the amount that you will have to pay for your professional insurance coverage without sacrificing the protection that it provides you. While this may take several hours, it is one of the most important steps when you are required to keep this type of insurance coverage.

To learn more, contact a liability insurance agent.