E&O/Professional Liability Insurance Costs

Landscape Architecture for Landscape Architects Forums PROFESSIONAL PRACTICE E&O/Professional Liability Insurance Costs

This topic contains 1 reply, has 2 voices, and was last updated by  Tim Hoelle 7 years, 4 months ago.

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  • #156254

    Bret Ford
    Participant

    For those of you that are in business for yourself, I’m curious how much insurance is costing you on a monthly or annual basis.  There have been some general discussions on the topic here, but no numbers.  I understand there are many variables from state to state and person to person, but is there anybody out there that isn’t afraid to throw out their numbers?  Of course, including coverage limits, deductibles, etc. would greatly help to put the numbers in perspective.

    #156255

    Tim Hoelle
    Participant

    If you’re talking about a “stand-alone” professional liability insurance policy, your pricing is probably going to be at least $1500 for a policy providing $1 MILL limit, and the deductible would be $2500 or so. As you stated, revenue, loss history, how long insured, extent of services, location and limits will all impact the premium.

     

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