(Engineer’s Professional Liability Insurance)
Types of Engineer Insurance
Add-Ons and Bundles
Engineer Insurance Coverage Offered for Various Types of Engineers
- Aerospace Engineer
- Agricultural Engineer
- Automotive Engineer
- Biomedical Engineer
- Chemical Engineer
- Civil Engineer
- Computer Engineer
- Drafting and Design Engineer
- Electrical Engineer
- Environmental Engineer
- Geological Engineer
- Marine Engineer
- Mechanical Engineer
- Petroleum Engineer
- Software Enginee
Why You Should Get Engineer Insurance?
Aside from coverage, there’s a lot to consider when you’re thinking about buying engineer insurance.
Here are some of the benefits of buying engineer insurance:
- You are financially protected against legal claims in various scenarios
- Both you and your clients can be reassured that you will be covered if mistakes/lawsuits were to happen.
Essential Questions To Consider
Are there specific situations that your policy does (or does not) cover?
It is important to be aware of the exact details of your policy.
What are the consequences of making a mistake in your sub-field?
The potential consequences of making a mistake are different between engineering sub-fields.
Do you work in the design phase of engineering?
There is specific design professional liability insurance if you work in the design phase of engineering.
Get a free quote to see how much you’d pay
There are a range of factors that may influence your quotation. For example, your area of practice, the number of employees at your business, and your salary can all have an impact on your insurance quote.
Above all, it is our goal to give you a fair and accurate estimate. Below, we’ve provided a place where you can input this information.
So, if you’re interested in customizing your quote to see what your rate would look like, click on “Customize Quote” below.
Other Types of Insurance for Engineer Business Owners
Even professional liability won’t cover certain work mishaps. If you are an engineer that owns a business, you may want to check out some of these policies. Especially if you want to make sure you are additionally protected.
Worker's Compensation Insurance
Firstly, the price of this policy depends on the number of workers in your business and the occupational risk. This means it can range anywhere between $800-$1200 per year. More importantly, however, is that it covers medical bills from job-related injuries and wage replacements for recovery time.
Employer's Liability Insurance
Also known as EPLI, this policy allows additional coverage for one’s employees. It covers claims filed that involve employment, hiring, and HR practices.
Commercial Property Insurance
This policy is helpful if you pay rent on a facility or own a facility. More importantly, you’ll be covered if there is a fire or explosion, theft, or vandalism. Also, for this type of insurance, you should expect to pay $500-900 a year. But, take note that this pay range will be dependent on your building’s property value.
Many insurance plans are commonly bundled together for simplicity and a cheaper rate.
Business owner’s policy (BOP)
A popular option for small businesses like clothing boutiques that combines Commercial General Liability insurance with Commercial Property insurance, usually at a cheaper price than if the two were purchased separately.