Don’t Pay More Than Necessary for Engineering Insurance
There’s no way to get around it–if you own an engineering firm, you’re going to be required at some point to have engineering liability insurance. Maybe it will be for a big job where the owner or the architect or the contractor) stipulates that you have engineering liability insurance to get the job. Maybe it will be your own good business sense, warning you that in today’s legal climate having that specialized coverage is the only way to ensure that your company could survive a lawsuit from a dissatisfied client.
Whatever your reason, when you’re ready to purchase engineering liability insurance or any other type of engineering insurance you should remember one basic purchasing rule: it pays to shop around. When you compare policies limits and coverages) and rates for engineering insurance from several different companies, you’ll not only get a better understanding of what’s available in the engineering insurance marketplace but also a better idea of what’s a fair price to pay for it.
Why You Need Engineering Insurance
If you already have general liability coverage under an existing business insurance policy you may wonder why you also need engineering liability insurance also known as errors and omissions).
Unfortunately, general liability policies only protect you financially in a non-professional situation–someone visiting your office, tripping and breaking a leg, for example. Engineering liability insurance offers coverage when your action, or inaction, does not meet the normally accepted standards of engineering and causes harm. Errors and omissions insurance would kick in if you make a mathematical error that results in costly revisions to a building during construction, or if you fail to take into account some important factor about the building’s foundation in your design.
Having professional liability coverage as part of your engineering insurance policies helps ensure that your company will be able to survive financially if –no matter how careful you’ve been in your design–you make a costly mistake.
Getting Great Rates on Engineering Insurance
Once you’ve decided to purchase errors and omissions insurance you’ll want to find the best rates for it. Fortunately, that’s relatively easy with netquote.com. Fill out the form you’ll find at the netquote.com website and let netquote.com do the legwork for you. We’ll share your information with some of the leading insurers in your area, then send back to you their quotes on your insurance coverages.
When you’re ready to purchase insurance, remember netquote.com for a fast and effective method of finding the coverages you need.
See how much you could save today on your insurance. Get your free business insurance quotes today!