I would like to hear what others are doing for affordable Errors and Omissions insurance for design businesses.
I too would like to hear how other designers are addressing this issue. My "work around "is to get everything sealed by an Architect or Engineer. Unfortunately, this added cost can make a substantial impact in cost of design fees, especially on small projects.
I state on my plans that "All dimensions and specifications are subject to adjustment on job site accordance with existing conditions. Builder to verify beam sizes and structural framing"
I know its not much but hell I am only charge about $600 - $800 per plan, This is the going rate in my area. I would not be in business if I charged more.
I state the same thing on my plans, but it is not enough to meet applicable law in Ontario, Canada. I (meaning my company) has to have a separate license with E&OE insurance in order for my personal license to be viable. I am in the midst of getting new quotes, but it is about $6,000 per year here.
You must have to do a lot of plans and quickly to make a living at that rate. My rates start at $2,500 for a full set of plans, and I am on the lower end of rates for the quality and service that I provide.
IDannOI, are you doing Design only or Design/Build ?
If Design only that $6K sounds way high !
I know a few Designers in Ontario doing Design only and paying around $1400 - 2000/yr.
Of course if you are Design/Build then I guess thats a different story !
Where in Ontarion are you located ?
I do it as a part time business. My area would not support a higher price. I make $45/hour. Yes I crank them out as fast as possible. Some of my more custom plans can be $1200+
I would also like to get a policy for E&O. Currently, I have multiple disclaimers on my plans plus I make homeowners that I don't know personally sign a 'contract' that has the disclaimers as well as statements about me not being an architect or engineer. I offer (via the contract) to refer them to an architect/engineer if they want their plans reviewed for an additional fee. I only work off of a referral basis so this has never been an issue ... yet.
As far as I know if you are not a registered architect then the only other option would be through the AIBD. But, to get it through them you have to be a professional member. I have never heard of a non-licensed individual being able to get an E&O policy except through AIBD.