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What Coverage

does your business need?

As a small-business owner (or someone thinking about opening a small business), your head is probably spinning over the choices when it comes to the types of insurance coverage your company needs. It’s important how each type of coverage protects you, your employees and your business.

Engineers Insurance

Engineers are responsible for the design and development of a variety of machines, structures, instruments, materials, systems, and processes. They can be classified as a chemical, electrical, civil, aerospace, environmental, mechanical, or other engineer. Some engineers work as independent contractors, while others work for engineering companies. Regardless of your preference, you need business insurance. A variety of risks are associated with being an engineer, including making a professional mistake that costs your client damage or a delay in their own business. While this is the biggest risk, it is by far not the only one. You should protect all risk exposures by choosing the right types of business insurance for engineer.

Types of Business Insurance for Engineers

Rather than choosing one type of business insurance, you can consider the different coverages each policy will provide. You have a number of different risks and therefore should have an equal number of insurance policies.

Engineer General Liability Insurance

There are three main types of coverages under general liability insurance; products liability, completed operations, and premises liability. Premises liability offers benefits from accidents occurring on your business premises, such as a client tripping in the walkway of your office. Completed operations are important for your business because it covers any loss or damage as a result of the services you provided. If you sell any products to your clients, such as custom-made software, damage done to their computer systems is covered under products liability.

Engineer Professional Liability (Errors & Omissions) Insurance

Professional liability insurance protects your company or engineers against mistakes made while performing services for your clients. One of the biggest risks of being an engineer is making mistakes that unfortunately can cause significant damage for your clients. Professional liability insurance, sometimes called errors and omissions insurance, offers extra protection.

Engineer Property Insurance

Property insurance will protect your engineer business offices from any damage or loss caused by unexpected events. Not only do events like fire or natural disasters cause damage to the property, but the contents as well. Your computer, network, and software are vital to your business and will cause a huge loss if they are damaged. Property insurance offers the best possible protection from this type of loss.

Engineer Business Auto Insurance

Engineers often perform services out of the office, which means they’re using a vehicle for business purposes. During each trip, any injury or damage caused by a vehicle accident should be covered by business auto insurance. This includes bodily injury to the engineer as well as other people involved in the accident. It helps repair the vehicle and any property damage done. Some business auto policies also include vandalism and theft.

Engineer Workers’ Compensation

Protecting your employees is just as important as other risks. Engineers are at a higher risk of developing repetitive motion injuries and similar injuries from performing the same duties each day. Worker’s compensation provides benefits to your workers by paying for medical costs and missed income as a result of work-related injuries. With worker’s compensation, your employees get these important benefits and your company will be in compliance with the Workers’ Compensation law of your State.

Engineer Crime Insurance

Engineers and companies employing engineers are at risk of a variety of crimes. The most common crime committed to companies offering engineering services are employee dishonest practices such as theft or embezzlement from the company. To protect your business from this and other crimes, you should get crime insurance. It will offer benefits in the event you experience a loss of income or business as a result of the crime.

Engineer Umbrella Insurance

Umbrella insurance is also important as a supplemental insurance policy. The engineering liability policies you may have (General Liability, Commercial Auto, and Employers Liability) all have coverage limits.  To protect your business for claims that exceed your primary policy limits, umbrella liability insurance therefore is an effective means to increase your liability limits for all of these risks under one policy

Owning and operating an engineering business can prove to be a lucrative profession so protecting that business from risk exposures should be top priority. By choosing business insurance for engineers protection from these risks, you are safeguarding your assets and are able to focus on other aspects of your business.