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Draftsmen insurance

Draftsman business insurance NZ

Draftsman insurance is a type of insurance tailored specifically for draftsmen or drafting professionals. This insurance is designed to offer protection against the unique risks and challenges that these professionals face, such as errors, omissions, or negligence while performing their duties.

Why is draftsman insurance important? 

Draftsman insurance is paramount because, in the world of design and planning, even small errors can lead to substantial financial consequences. Such an insurance ensures that these professionals are protected from potential lawsuits, financial losses, or reputational damage stemming from their work.

In New Zealand, the average cost of draftsman insurance typically ranges between $150 – $300 per month. 

It’s crucial to have draftsman coverage if your business:

  • Offers design and drafting services
  • Handles sensitive client information
  • Operates in a high-risk area
  • Wants peace of mind operationally

What insurance covers are typically included in draftsman insurance? 

Draftsmens Professional Indemnity

Draftsman PI Insurance cover provides coverage against claims of negligence, mistakes, or omissions in the services a property inspector delivers. This insurance helps protect property inspector professionals from potential legal costs and damages awarded to a client if their advice or service is found to have caused a financial loss.

Best For
  • Negligence claims 
  • Errors & Omissions 
  • Professional mistakes 

Public Liability

This policy covers common draftsman business risks including bodily injuries, customer property damage, and advertising injuries. Public liability is required for most residential & commercial projects. 

Best For
  • Business Accident Coverage
  • Third-party Damages
  • Legal Cost Protection

Statutory Liability

This cover is a type of protection that helps draftsmen cover costs if they accidentally break certain laws or regulations.

Best For
  • Unintentional breaches protection
  • Legal costs
  • Fines and penalties

Management Liability

Management liability insurance in NZ shields draftsman company leaders from legal and financial risks due to their managerial responsibilities.

Best For
  • Directors liability 
  • Employment disputes
  • Legal defence

Cyber Insurance

Insurance that helps protect draftsman businesses from financial losses caused by cyber-related incidents, like data breaches and computer attacks.

Best For
  • Ransomware attacks
  • Phishing scams 
  • Cyber extortion 

Business Contents Insurance

Business contents insurance in NZ is for protecting all the important stuff inside a draftsman business. If there’s a problem or accident, the insurance can help with the expenses.

Best For
  • Accidents 
  • Floods
  • Fires

Business Vehicle Insurance

Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 

How much does draftsman insurance cost?

Draftsman insurance premiums are calculated on several different factors including:

  • Types of cover
  • Turnover
  • Location 
  • Claims History 

Draftsman insurance in NZ typically costs between $150 to $300 per month

Who needs draftsman insurance?

While the name suggests it’s only for draftsmen, the coverage is beneficial to a wider range of professionals. Any individual or business involved in creating designs, sketches, or plans—whether for architecture, engineering, or other fields—should consider draftsman insurance. This includes freelance draftsmen, drafting firms, and even students in the drafting field.

No, draftsman insurance is not legally mandatory in New Zealand. However, having it provides a protective shield against potential lawsuits, errors, or omissions that could arise in the drafting profession.

Absolutely. Most insurance providers, including Gerrards, offer tailor-made insurance packages based on your business’s specific needs and risks. This allows you to only pay for what’s essential for your protection.

How do I get a draftsman insurance quote? 

We understand the unique needs of draftsman in New Zealand. Leveraging our extensive industry knowledge and partnerships, we provide comprehensive draftsman insurance quotes from the top insurers in the country. Entrust us with your requirements, and we’ll ensure you receive the most competitive and tailored coverage options available.

To obtain a draftsmen insurance quote we may require you to provide some fundamental details about your business, such as:

  • The name of your business
  • The total number of employees
  • Predicted annual income
  • Years of experience in the industry

How do I get proof of draftsman insurance?

You can usually get proof of draftsman insurance same day when you purchase insurance through Gerrards.

Acquiring a draftsman insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or project. We can typically provide a draftsman insurance certificate within 48 hours. 

To obtain insurance coverage promptly, contact one of our draftsman insurance brokers. 

What does draftsman insurance not cover?

Unlicensed activities

If you perform services for which you’re not licensed or certified, your draftsman insurance may not cover resulting claims.

Known prior acts

If you were aware of an issue before obtaining draftsman insurance but didn’t disclose it, claims arising from that issue may not be covered.

Contractual liabilities

If you’ve accepted liabilities via a contract beyond what’s typical for a draftsman, these might not be covered.

Other common questions about draftsman insurance

Yes, freelance draftsmen can and should secure draftsman insurance. Freelancers are equally susceptible to the risks of errors and omissions, making coverage essential for them.

It depends on the policy. Some policies might extend coverage to subcontractors, but it’s vital to confirm this with your provider.

You can often reduce premiums by bundling insurances, demonstrating a track record of low claims, or implementing strong risk management practices in your business.

Draftsman insurance policies often have territorial limits. While some might offer worldwide coverage, others could be limited to New Zealand. It’s crucial to check with your provider.

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