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Why do engineers need insurance?
As an engineer, people rely on you for your expertise and the effects of giving the wrong advice or making an error on a project could be costly. You could run into the following issues:
- A client claims a design flaw causes structural issues
- You injure yourself while on-site
- Someone steals your valuable equipment
- You accidentally damage a client's property during a visit
- You give out incorrect professional advice
Some clients may insist you have public liability insurance before starting a job, therefore, it’s essential to have sufficient insurance to protect yourself while working.
What kind of engineers are covered?
We can help insure many different types of specialist engineers, including (but not limited to):
- Electrical engineers
- Mechanical engineers
- Software engineers
- Technical engineers
- Building engineers
- Site engineers
- Civil engineers
- Computer engineers
- Thermal engineers
- Gas engineer
- Heating engineer
Can’t see your industry? Whatever your trade, we might still be able to help. Give our knowledgeable insurance team a call on 0800 077 3810 to talk through your specific needs.
What insurance do engineers need?
Whether you’re working on large plants or behind a computer, as an engineer - you’ll need sufficient cover as you go about your work. Not all engineers will need the same policies, but we can help tailor your package with the following types of cover:
- Public liability insurance - In case someone suffers an injury as a result of your work or you accidentally damage something when working.
- Professional indemnity insurance - Helps provide compensation as a result of professional negligence or bad/incorrect advice you give out.
- Product liability insurance - If a product you’ve supplied, like design plans, causes harm or injury, this insurance covers the cost of legal fees for defending yourself and compensation for damages if needed.
- Legal expenses insurance - Protects you against legal fees during a claim or dispute
- Tool or machinery insurance - Protects against the cost of damaged, lost or stolen tools or equipment.
Policies will vary per provider for these packages, but if you’re not sure what types of cover you need, start a quote online today and our insurance team will be on hand to help you make the right decision.
What isn’t covered?
You’re unlikely to be able to claim on your insurance policy for every issue you come across, similarly, there will be events where clients cannot claim against you.
Although exclusions and policy wording vary per insurer, generally, the following is unlikely to be covered:
- Purposeful negligence or workmanship
- Deliberate acts
- Normal wear and tear and gradual deterioration of equipment
What do you need to start a quote?
You need the following information when starting a quote online with us at Bionic:
- Business Name
- Policy Start Date
- Full name of business owner/owners
- Phone number
Our knowledgeable agents are on hand to help with specific questions to ensure you get sufficient cover.
When speaking to our agents and arranging new insurance, you should provide further business details like turnover and wages.
How much does engineers’ insurance cost?
It’s difficult to give a solid figure for an engineering insurance package, as it depends on your industry. Costs depend on a number of factors, including:
- Extent of cover - The more policies you choose, the more expensive your package is likely to be.
- The nature of your work - The more risks you face day to day will play a part in how expensive your premiums are. For example, working from a height is riskier than sitting behind a desk.
- Location – Where you work is taken into consideration when working out the price of your premiums. For example, some areas have a higher likelihood of theft than others.
- Claims history - Whether or not you’ve had claims made against you or you have made previous claims may affect your future premiums.
Do you need insurance if you’re a self-employed engineer?
Although not a legal requirement, it’s a good idea to have insurance if you’re a self-employed engineer. Why? You could end up paying hefty legal fees and compensation out of your own pocket if something were to go wrong.
Many companies or clients will refuse to work with you if you don’t have sufficient insurance in place, like public liability insurance.
Get engineer insurance sorted today with Bionic
At Bionic, we champion UK business owners as they’re the backbone of the UK economy and want to help in every way we can. That’s why we use a team of knowledgeable insurance brokers who work with a panel of trusted insurers to find you the right cover.
Our UK-based team helps business owners daily to compare policies to find the right insurer that fits. Get in touch with us today by starting a quote online.