Engineering Insurance

In today’s world, it is more important than ever for businesses to have enough insurance in place to protect their finances and their reputation if things go wrong.

Engineers need insurance for a wide range of scenarios and risks. With risks including accidents, injury and damage to equipment or property, insurance for engineers can be a real benefit to help reduce the financial costs of such incidents.

Erskine Murray are a leading independent business insurance broker, working with a carefully chosen group of insurers to provide you with the right insurance products to suit your business needs.

Insurance for Engineering Businesses

There are several key insurance policies which are often useful for those within the engineering industry.

• Public Liability Insurance: engineers are often working within the public realm, so it is important that you have policies in place in case a member of the public injures themselves because of your business, protecting you from the costs of legal fees and compensation claims.
• Professional Indemnity Insurance: this provides cover for your business in the event that the advice, guidance, design, etc, which you provide causes a third-party financial loss. There are a wide range of scenarios when professional indemnity insurance could be useful for engineers – anything from sending confidential documents to the wrong client all the way up to the more dramatic structural issues with building projects.
• Employers Liability Insurance: this is a must if you employ staff. Any business which employs more than one person must have employers’ liability insurance as a legal requirement.
• Personal Accident Cover: engineers are in the sort of job role where personal injury can happen. With the sort of risks engineers face each day, it is a good idea to have personal accident policy to offer insurance protection if you are injured while you are working. This policy can help to cover the costs of not only medical care, but loss of income if you are unable to work whilst in recovery.

Other insurance policies may be suitable for your specific business requirements. Our team here at Erskine Murray would be happy to advise on the other options which may suit your needs. Examples of other policies you may find useful are tools insurance, product liability insurance, business interruption cover and transportation insurance. Whilst some insurances are required by law and others are not, this does not mean that those other policies are not important for your business! It is always a good idea to discuss your business insurance requirements with our team here at Erskine Murray to be sure you have the right combination of insurances to match your needs.