Consulting Engineers Insurance
Why do I Need Consulting Engineers Insurance?
Engineers Consultants have an immense responsibility towards their clients and members of public and need Insurance to protect their legal liability towards both parties should an accident happen as a result of their work. For example, if you are consulting on a new bridge and your calculations are wrong, you could cause an accident to the public as well as damaging the reputation of the company.
As a Consultant Engineer, you provide advice in a business capacity. You will require insurance to protect yourself should your recommendation or work have an adverse result for your client. Not only this, you will need protection for a variety of risks you face as a business owner. For example, if you have employees you require insurance by UK law to protect you should they make a claim of negligence towards you.
Similarly if you have members of the public visit you at work, including Health and Safety Executive’s, you need to protect yourself should they have an accident. You may also have expensive tools that need cover, transportation or buildings that require additional protection.
What Does a Consulting Engineers Insurance Policy Provide?
Professional Indemnity Insurance – covers the cost of defending your business against claims of negligence such as giving your client incorrect information accidentally or advice given in good faith having a negative impact. When considering the amount of cover to take out you should factor in the costs of repairing any work, the time involved and the cost of legal fees and compensation should you go to court.
Public Liability – provides cover should a member of the public or client have an accident at your place of work. If you work from home or conduct business outside of your office you should also have cover for this.
Product Liability – If you supply a product that turns out to be faulty causing an accident to a client then you could be held accountable.
Employers Liability – this is a requirement by UK law should you have anyone in your employment. If a member of staff were to have an accident at work or fall ill as a direct result of working for you, you could have a claim of negligence against you. EL Insurance will cover you in such a situation.
What Else Should I Consider?
Office Insurance – to cover your buildings, contents and equipment against an insured accident such as fire or flooding.
Directors and Officers Insurance – to protect your legal liability as a director of your company. You can be held accountable for mistakes separate from your company and require your own insurance for this.
Vehicle Insurance – If you transport any goods or tools then you will need additional cover for this over and above that provided by your personal motor insurance policy even if you use your own vehicle. If you have 3 or more vehicles, then Fleet Insurance can be a cost effective way of insuring multiple vehicles with only one renewal date to remember.
Why Compare Consulting Engineers Insurance with Buckingham Insurance?
Buckingham Insurance has been providing businesses across Derbyshire and South Yorkshire with invaluable, trusted advice and service for almost 40 years. With a heavy investment in staff training and leading technology, together with good old fashioned close relationships with both our Insurer partners and clients, we pride ourselves on competitively priced, quality cover backed up by first rate service.