Some of the products on this page come from partners who may compensate us when you click on their links or take specific actions. This helps us keep our content free. That said, our opinions are our own and based on independent analysis.
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.
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.
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 |
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:
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 |
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, 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:
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 |
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:
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:
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.
It takes care of expenses if clients have qualms about your services and decide to file a claim.
Here are some situations where structural engineer PI insurance is useful:
| 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 |
Commercial auto insurance shields you if something happens while construction vehicles are running. Here’s a quick summary of this policy’s functions:
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:
| 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 |
Get all the best quotes from leading providers in a click of a button!
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
Rating: 10/10
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
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
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
Rating: 9/10
Do you have U.S. insurance expertise/experience? Would you like to become a voice at Insuranks, help businesses and individuals, and showcase your authority online? Write us!
Not all those who wander are lost.
Disclosure: Insuranks.com is an independent educational comparison service and an advertising-supported publisher. Some of the companies/offers that appear on the website are from our partners which we may receive compensation from. This may influence which companies/offers we write about and where and how it appears on the site. However, this does not impact our assessments. We solely highlight companies, products, and offers that can help you make smarter insurance decisions.
