Why Professional Engineer Insurance Matters

1. Why Professional Engineer Insurance Matters Professional liability insurance is very important for engineers, construction managers, contractors, and architects. As you work to design and build buildings, liability claims are always a threat to your engineering firm and yourself. Even handling small building projects can lead to big liability claims if you don't have Professional engineer insurance. It can also be risky for your business, revenue, and reputation if you do not acquire or maintain Professional engineer insurance. What does a professional engineer insurance policy cover? No matter how experienced or skilled of an engineer you are, you can always be vulnerable to error and omissions claims or negligence. Professional engineer insurance gives you protection against these costly claims. A good Professional engineer insurance policy will cover - ● Wide range of possible claims - These kinds of claims include negligence, error or omissions, false statements, breach of duty, unsatisfactory services, etc. ● Claim related legal expenses - These expenses include lawyer and court charges, with any additional settlement or penalty costs. ● Risk management advice - Your insurance company may offer you many other ways to reduce risks such as contract reviews and education on liability issues. Are Engineers Legally Required To Carry Professional Engineer Insurance? Most states do not mandate engineers to have Professional engineer insurance for designing a building. However, federal law requires professional liability insurance for engineers when they work on government contracts. Do individual engineers buy their own professional engineer insurance? For the most part, engineering firms buy and renew the insurance policy that protects it’s individual employees.

2. Engineers have a complicated job. In this profession, mistakes can happen at any time with any expert. Therefore, buying a Professional engineer insurance policy is a good decision. It can protect you from inevitable claims and unforeseen expenses.