Which business insurance is the best for engineers?

• Building services engineers
• Design and CAD engineers
• Electrical engineers
• Heating, ventilation and air conditioning engineers
• Mechanical and refrigeration engineers
• Offshore contractors
• Project engineers

At Markel we understand that human errors occur, and rectifying mistakes made in the engineering sector can be expensive. Whether it’s an error in design calculations or flaws in a product design, an error could cause problems for the business you are contracted to, including loss of revenue and the potential loss of future orders. That’s when our comprehensive engineer insurance can help.

The right engineering insurance policy can protect you

An error in your work could result in your client pursuing you for the cost of putting things right.

• Design mistakes - an error in material calculations, an incorrect measurement, or a safety risk, could cause severe delays to a project, potentially costing a client significant time and money to fix.
• Poor advice - whether submitting a full written report or even just having a conversation on the telephone, clients are trusting your expertise to help them deliver a project. A hastily-written recommendation or a vague comment over a call could cost you more than you think.
• Accidents - If someone is injured or if client property is damaged due to your negligence, your business could be liable to pay compensation and costs.
  
  

Get your engineering insurance online in matter of minutes

At Markel we offer a range of insurance policies to cover most technical engineering professions including:

• Professional indemnity insurance (PI) - is usually a mandatory requirement for contract engineers requested by either the recruitment agency or directly by the client and covers the cost of defending your business against allegations of professional negligence (such as giving your client incorrect or wrongful advice) and, if unsuccessful, the cost of damages awarded against you.
  
  Examples of claims include: You are contracted to provide a number of 3D designs for a client. You use incorrect measurements in your designs, which results in significant delays to your client's project. Your client takes legal action against you to recover their losses.
  
  
• Public liability insurance (PL) - like professional indemnity insurance, PL insurance usually a pre-requisite for recruitment agencies and/or clients and overs the cost of defending your business (including damages awarded against you if unsuccessful) if someone is injured, or their property damaged, which arises from you going about your business or supplying products. If you visit client premises or sites as part of your business’ activities, it’s likely you’ll need this insurance cover. 
  
  
• Employers’ liability insurance (EL) - is a legal requirement if your firm has employees. This type of insurance covers your business against claims for injury or illness suffered by employees arising from their employment with you. If you have employees, regardless of whether they are full-time or part-time, you need this cover.
  
  
• Legal expenses insurance - pays your legal costs and expenses for contract disputes, tax enquiries (including IR35), attending jury service, debt recovery, personal injury, as well as any award you are required to pay following an employment dispute with an employee.
  
  
• Directors and officers insurance (D&O) - covers the costs of defending you as a director or officer of your company against allegations of wrongful acts, and of any damages subsequently awarded against you. Cover is also provided in respect of the legal costs and expenses of defending actions for disqualification as a director, investigations and extradition proceedings. Limits range from £100k to £5m.
  
  
• Occupational personal accident insurance - provides a weekly payment if you are unable to work due to temporary total disablement (subject to a 14 day deferment period). This cover could help you maintain an income if you are unable to work following an accident while working on an engineering contract, and would struggle to maintain a steady income while off work.

Our quick online quoting system means you can get a comprehensive insurance quote in a matter of minutes. Click here to start your quote.

Key benefits to you of purchasing your insurance with Markel

• Established over 25 years
• 24hr legal advice helpline
• Access to legal document hub
• Instant policy documents
• Dedicated claims service
• Easy payment options

Click the quote button below for a quick online quote for your engineer’s insurance.