Professional liability insurance has become vital in many professions, and engineering is no exception. While employers often provide coverage for in-house engineering teams, consultants and independent professionals who contract with corporate clients often need to buy their own professional liability insurance for engineers. So what do engineers need out of this kind of coverage?
Protection Against Errors & Omissions
Engineers’ liability coverage basically amounts to an E&O policy built around the kind of engineering you do and the nature of your professional involvement. If you’re insuring an entire firm, naturally your coverage limits and costs will need to be higher than if you are operating as a contract consultant freelance. Working with insurance agents who understand the industry is the key to getting this essential liability coverage.
Reinforce Your General Liability Policy
If you’re operating solo or running a business, you probably already have general liability insurance to cover basic claims in a variety of areas. While general policies often contain E&O provisions, they are built to provide basic and balanced coverage. Any area of liability where you have greater than average exposure should be supported with its own policy, which is why professional liability insurance for engineers has become indispensable. If you don’t have a policy or you haven’t reviewed yours in some time, you should contact an agent about your insurance needs today.