Structural Engineer Insurance: Liability, PI & Quotes From $11

 

The job of a structural engineer is closely similar to that of civil engineers. While you can get insured through a civil engineer insurance package, the best protection is a specialty structural engineer insurance plan.

This article covers the risks unique to your profession. In Addition will guide you to know what this is, how much premiums cost, and where to get the best coverage. 

Structural Engineer Liability Insurance

You need liability insurance. Liability insurance pertains to policies that grant protection against lawsuits. The most common types of structural engineer liability insurance are general liability, public liability, and professional indemnity policies. 

 

General Liability Insurance For Structural Engineers

Structural engineer insurance programs offer a general liability policy as a primary coverage. This is also the case with related commercial protection packages such as gas engineer insurance and electrical engineer insurance. 

Use the table above to compare the general liability insurance of companies we recommend for structural engineers. 

 

CoverWallet  NEXT (Best) Hiscox
Per occurrence limit  $1,000,000 $1,000,000 $300,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $1,000,000 $100,000 $100,000
Waiver of subrogation included? Yes No Can be included
Hired/non-owned auto liability coverage included? Yes No Can be included
Equipment breakdown floater included? No  Yes Can be included
Can you get a certificate of insurance online? Yes Yes Yes
Name additional insureds? Yes Yes Yes
Deductible $0 $0 $0

 

 

Commercial Property Insurance For Structural Engineers

The main function of commercial property insurance is to compensate the replacement cost or actual cash value of the commercial space if it gets damaged or destroyed by:

  • Fire
  • Theft
  • Vandalism
  • Civil commotion
  • Malicious mischief
  • Sinkhole collapse
  • Volcanic action

Note that commercial property insurance doesn’t cover any of the construction projects you’re working on. There’s another type of structural engineer insurance for this purpose. 

CoverWallet NEXT (Best) Hiscox
Building coverage limit (minimum) $50,000 $210,000 $25,000
Contents coverage limit (minimum) $50,000 $25,000 $25,000
Outdoor signs Excluded $2,500 Excluded
Accounts receivable  Excluded Excluded Included
Money and securities Excluded $2,500 Included
Lock and keys  Excluded $2,500 Excluded
Business interruption floater Excluded Included Included
Equipment breakdown floater Excluded Included Excluded
Inland marine insurance floater Excluded Excluded Excluded
Employee dishonesty floater Excluded $5,000 Included

 

Business Owner’s Policy For Structural Engineers

A business owner’s policy is a combination of general liability insurance and commercial property insurance. That said, you can use this when business property gets damaged by fire or other perils and when third parties file a claim for bodily injuries or property damage.  

CoverWallet NEXT (Best) Hiscox
General liability aggregate limit  $2,000,000 $2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $210,000 $25,000
Optional policies can be added? Yes Yes Yes
Name additional insureds for free? Yes Yes Yes
BOP discount? Yes Yes Yes

 

 

Tools And Equipment Insurance For Structural Engineers

Tools and equipment, whether owned, borrowed, or rented, is always a part of every construction project you’re overseeing as a structural engineer. 

Tools and equipment policy will cover the cost of repairing or replacing compact tractors, scrapers, welding machines, mixers, drills, and any other equipment that gets destroyed, lost, or damaged because of:

  • Fire
  • Theft
  • Vandalism
  • Mysterious disappearance
  • Electrical shorts
  • Electrical breakdown
  • Mechanical breakdown

Tools and equipment insurance is available as a stand-alone policy that provides up to more than $100,000 coverage. 

NEXT (Best) Hiscox
Aggregate limit $5,000/$10,000 $5,000/$25,000
Covers hired and borrowed equipment? $5,000/$10,000 No
Miscellaneous equipment also covered? $5,000/$10,000 No
Offered as an endorsement to general liability insurance? Yes Yes
Deductible $500 $0

Compare Cheap Structural Engineer Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

 Builders Risk Insurance For Structural Engineers

Builders risk insurance enables you to insure a construction project against the unexpected. This insurance will compensate for financial losses based on the estimated value of the construction project, its structures, or materials. 

This insurance will protect the construction project during its completion. The coverage of builders risk insurance applies when the structures, materials, or the entire construction project gets damaged or destroyed because of:

  • Fire
  • Theft
  • Vandalism
  • Explosions
  • Impact
  • Employee error
  • Acts of god
  • Hail

 Workers Compensation Insurance For Structural Engineers

Workers compensation insurance provides help when an employee sustains an injury or illness such as cuts, burns, musculoskeletal disorders, etc. This policy commonly covers these costs:

  • EMT service
  • Medical treatment
  • Hospitalization
  • Medication
  • Rehabilitation and retraining
  • Lost wages
  • Funeral expense and allowance to dependents in case of death

Workers compensation doesn’t provide automatic coverage to independent contractors, volunteers, and interns. You need to name them as additional insureds for coverage to take effect. 

Structural Engineer Professional Indemnity Insurance

It takes care of expenses if clients have qualms about your services and decide to file a claim. 

Here are some situations where Professional indemnity insurance for structural engineers is useful:

  • If you failed to recognize errors in the blueprints submitted by an associate causing an accident to happen and resulting in significant structural damages.
  • If Columns were wrongfully positioned despite your supervision. 
  • You failed to submit plans, reports, and blueprints on time because of technical issues,and overlapping workloads.
CoverWallet  NEXT Hiscox
Per occurrence limit  $1,000,000 $1,000,000 $250,000/$1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000
Name additional insureds? Yes Yes Yes
Waiver of subrogation included? Yes No Can be included
Deductible  $500 $500 $50/$10,000

 

Rank and Review Insurance Companies

Help others make better decisions

Show more

Commercial Auto Insurance For Structural Engineers

Commercial auto insurance shields you if something happens while construction vehicles are running. Here’s a quick summary of this policy’s functions:

  • Cover the medical treatment of third parties if your construction vehicles cause a vehicular accident
  • Cover the medical treatment of the driver and passengers if your construction vehicles get involved in an accident caused by an uninsured/underinsured driver
  • Cater to the repair or replacement costs if your construction vehicles sustains damage because of fire, theft, falling objects, collision, weather, and other covered perils

 

Structural Engineer Insurance Cost

The average structural engineer insurance cost is $45 per month or $540 annually for a $1 million general liability policy. A carrier considers numerous factors that affect the cost of your premiums. These factors include: 

  • Business location
  • Annual projected revenue
  • Policy limits and deductibles
  • Business property and equipment
  • Number of employees
  • The type of policy you purchase
Cost per Month Cost per Year Deductible
General liability insurance $45 $540 $0-$500
Professional liability insurance $56 $672 $500-$1,000
Commercial property insurance $47 $564 $1,000-$2,500
Business owner’s policy $80 $960 $500-$1,000
Commercial auto insurance $99 $1,188 $1,000-$1,500
Workers compensation insurance $110 $1,320 $2,000-$5,000
Inland marine insurance $59 $708 $1,500

  

 

Compare Cheap Structural Engineer Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Structural Engineer Insurance Companies 

 NEXT 

NEXT is the best option if you’re particular about certificates of insurance. Upon getting insured, you can get a live certificate of insurance via the NEXT website or app and send it as a text message, email, or social media post.

Average cost: $25 per month 

Pros

  • Best overall
  • Fastest general liability insurance for structural engineers
  • Great customer service and reputation
  • Issues an online proof of insurance instantly
  • Outstanding value for money
  • Bundle two or more insurance policies and get a 10% discount

Cons

  • Couldn’t find any

Rating: 10/10

 

Coverwallet 

Coverwallet is an excellent option for structural engineering businesses looking to manage their insurance policies. It offers the best quote comparison and comprehensive insurance solutions at affordable and competitive prices. In addition, Instead, it sells specialized insurance available for all kinds of engineers.  

Average cost: $30 per month 

Pros

  • Well-organized and easy to use with an online policy management system.
  • Easy to reach customer support and agents
  • A top commercial insurer

Cons 

  • Coverwallet is an online brokerage firm, not a carrier

Rating: 10/10

 

Tivly 

Tivly doesn’t have a structural engineer insurance program. However, you might get covered through this company’s contractor’s insurance package that offers general liability, commercial property, builders risk, and other insurance policies. 

Average cost: $35 per month

Pros

  • Responsive customer service
  • Compare quotes over the phone
  • A partner of many reputable insurance companies

Cons

  • You need to call to get a quote

Rating: 10/10

 

Hiscox 

Just like NEXT,Hiscox grants coverage through its engineer insurance plan. which offers general liability, professional liability, cyber liability, and business owner’s policies.

Average cost: $41.56 per month

Pros

  • Automatic policy renewal
  • 14-day money-back guarantee
  • Upgrades can be included in your policies
  • Worldwide coverage

Cons

  • Doesn’t offer commercial property insurance as a stand-alone coverage

Rating: 9/10

 

 

Recent Reviews

Recent Posts


Additional Business Insurance posts