As an engineer or an engineering consultant, people rely on the advice you give and the quality of your work. You’re helping your clients to make big decisions, and that means that the cost could be high if something goes wrong. Professional indemnity insurance can protect you if a client makes a compensation claim against you for negligence or a mistake you’ve made in your work. You may find that you’re required to have it by your client contracts or your regulatory body. Consider other covers too, including public liability insurance, tools insurance and business buildings insurance.
Start your quoteIf you work in the engineering industry - whether you’re a civil engineer, a mechanical engineer or a consultant - professional indemnity insurance is crucial. It can protect you if you make a mistake in your work that causes your client to suffer a financial loss, and the client makes a claim against you. For example if a structure collapses because you’ve failed to recognise problems with the surface it’s being built on, or if refabrication of a building is needed because you recommended an inadequate cladding, you could face a compensation claim to cover your client’s costs. We offer up to £10 million of cover. You can buy professional indemnity insurance as a stand-alone cover or as part of a combined policy with other covers. At Simply Business we offer between £50,000 and £5 million in professional indemnity cover.
Public liability insurance is also worth considering, as it covers you for compensation claims made by a member of the public for injury or damage caused by your business. A claim like this could come from a client, a supplier, or a passerby. For example, if you spilt a cup of tea over your client’s computer during a meeting, they may sue you for the cost of repairing or replacing their equipment. Your public liability insurance could pay the compensation costs and any legal fees, up to the limit of your policy.
There’s also business buildings insurance if you’ve got your own premises, and employers’ liability insurance if you employ anyone in your engineering company. Other cover options include business equipment insurance, to cover those items that are essential to running your business.