Keeping this in mind, there are two main kinds of insurance coverages you should always get as a professional engineer. These are:
1) Professional Liability Insurance
If you, or your employee, during or through work, brings damage to the client or a third party, then you can be sued. A professional liability insurance protects you in this situation by providing payment for the litigation process, as well as settlements and claims.
Even the best employees and professionals can make mistakes or be held back by factors outside their control. If bad weather causes delay at work, and you can’t finish your project in time, you may not be at fault but the client can still legally sue you. A professional liability insurance for engineers will protect you in this case.
2) General Liability Insurance
A professional liability insurance doesn’t include claims for damages from situations that fall outside the purview of your professional duty. But these are more likely to result in legal battles and settlement claims.
Say a third party trips and falls on a property you rented for your client’s project. In this situation, you could get sued by the third party. Similarly, if someone trips over a wire in your office and gets hurt, they can sue you as well. In this way, there are many scenarios outside work where physical injury and accidents can result in you getting sued.
A general liability insurance protects you if you get sued for being negligent, spreading slander, misrepresenting the client, and more. It can be extended to include all employees within the same scheme, if you own an engineering company. Everyone included in the insurance policy can benefit from a general liability insurance for engineers.