Professional Engineer Personal Liability Insurance

"I am a engineering consultant. Do I need insurance?"

There are always risks when you get involved in a business venture. If you own your own business, you are well aware of all of the risks once your business is established. Every good business should assess risks and ensure that your small business or company can come out of any lawsuit or situation that may come up.

Because you provide a service, there is always the chance that your work may cause harm to someone directly or indirectly. In addition to that, if someone gets harmed on your business’ property, you may also have a lawsuit on your hands.

So, what do I need to cover me?

Liability business insurance covers most these claims. General liability insurance protects a business from lawsuits due to:

Injury

Property damage

Advertising claims

Bad advice

Any time you or your company is at fault in such a claim, commercial general liability insurance is what will cover you.

"I also provide products for my customers. Is that covered?"

For something like this you would need Product liability insurance as well. It is going to cover claims made if there is a malfunction of the product. If a customer files a suit claiming your product has caused harm, this type of insurance should cover it.

"I'm incorporated. Does that matter?"

It does matter. Depending on weather you have employees are you are going at it alone, you will need different kinds of policies to cover yourself and your business. Corporate policies are going to work a little different. It just depends on what your business situation is.

If you have employees, you need to cover yourself, too

In the case that a claim is made against you by an employee, you are also going to need workman's compensation insurance (Workman's Comp). This is what is used if an employee claims they are hurt while on the job:

Using equipment

Due to exposure to harmful substances or chemicals

Working long hours

Forced to do an unreasonable task

Bottom Line....

Running a business can be very stressful. Covering yourself with the right liability business insurance will help you feel confident that your business is: