We offer a variety of insurance coverage types specifically designed for engineering businesses.
General Liability Insurance for Engineers
Let the experts at Insureon insure you against claims involving damages made by you or one of your employees on a client’s project.
Engineers and engineering businesses are not immune to accidents. Unfortunately, it only takes one costly incident to put a small engineering business into financial trouble.
However, each engineering job is different. Depending on the types of work your engineering business does, and the types of clients you work with, you may be qualified to earn a significant deduction through our all-encompassing Business Owner Policy. Consult with one of our agents today to see if your small engineering business meets the criteria!
Insureon's engineering insurance experts are prepared to ensure that the general liability policy you purchase provides adequate protection for your small business. We will assess your risk exposure and your state guidelines to inform you of your coverage needs.
It is important to know whether or not the contractors you use have their own insurance plans. Check with our engineering specialists to help interpret the fine print.
Please note that general liability insurance does not cover disputes regarding professional indemnities, claims such as those necessitate professional liability insurance.
Professional Liability Insurance/ Errors & Omissions Coverage for Engineers
Professional liability coverage is the only insurance policy that can protect you and your business against professional negligence claims. If you are ever accused of leaving your professional engineering duties unfulfilled, this errors and omissions policy is the best measure you can take to protect your business from suffering financial detriment.
This type of coverage protects your engineering business if one of your clients should claim that you personally are responsible for having a negative impact on their business. For example, if you have completed a drainage project that over time has proven insufficient and needs retrofitting, your client may assert that you made an mistake which lead in their financial loss. If your client decides to bring litigation against you — regardless of whether the damage was your fault— you will have no choice but to hire a legal team and may lose income and clients due to time spent in court.
Professional liability coverage manages the payments of your legal defense, time spent in litigation, settlements, and extraneous expenses allowed by your policy.
Because your client may require that you carry professional liability coverage, read the fine print in your contract to be sure you have the amount specified.
It's important to carry professional liability insurance, even if you've never been sued. Despite your high quality of engineering operations or your great relationship with your clients, you could still be accused of negligence.
Umbrella Insurance/ Excess Liability Coverage for Engineers
Do you have enough insurance coverage for an upcoming job? Does your client require a higher limit on your general liability policy? Insureon is here to help! We can easily add additional, affordable insurance coverage to your general liability plan.
Suppose your new engineering contract necessitate that your business has $1.5 million in general liability coverage, but your current coverage plan has a $1 million limit. You need that extra coverage before you can begin this engineering project, and that is where our engineering insurance experts come in, we will provide you with an umbrella insurance policy to meet your new client’s requirements. The engineering insurance experts at Insureon can easily assess how much additional coverage you need.
It's important to note, however, that umbrella liability insurance can only add to the coverage limits on general liability policies.
If you’re considering adding an excess liability policy and you have trouble deciphering your client’s insurance requirements, Insureon’s engineering insurance experts are ready to review the language in your contract and get you a fast quote for the coverage you need.
Many engineers choose to purchase their umbrella policies from the same insurance agency that handles their underlying policies. Doing so can simplify the coordination of benefits in the event that you need to make a claim.
Property Insurance/ Business Owner’s Policy (BOP) for Engineers
Clients want to prevent as many risks to their business as possible, that is why many of your clients will require that your have your own insurance coverage. Your clients prefer that your carry your own insurance so as to avoid paying for damages themselves.
If you experience few on-the-job dangers, you could meet the criteria for a money-saving combined insurance package called a Business Owner's Policy, or BOP. Our reasonably priced BOP insurance package includes: general liability insurance, property insurance, and under certain policies, compensate for lost income. In one comprehensive policy you can protect all of your assets. Our engineering insurance experts can determine if your engineering business qualifies for a BOP.
Not all BOPs are created equal. What's provided as standard by one carrier may not be included in another’s policy. Insureon can help you ensure that your policy’s provisions fit your business risks by providing competitive quotes from top-quality carriers.
Don’t leave your project to chance.
Alert your client about foreseeable problems or stumbling blocks that could arise during your engineering project and plan ahead! Be ready to adjust your timetable appropriately and have solutions ready should these issue occur.
On-site safety should always be part of your plans.
Accidents occur and injuries are often the result. Don’t let yourself, your employees, or your clients enter a hazardous engineering site without the proper equipment.
Be upfront with your client about potential obstacles.
Before contracts are signed, give your client detailed written descriptions about any possible risks or complications that could negatively impact or delay the project.