E&O coverage has become standard for independent engineers and other professionals who go into work for themselves. You need it when taking on contracts for projects ranging from urban developments to process refinement for existing products, and every engineering niche in between. Structural engineers have unique risk exposure among the various niches in the profession, and as such, they need specialized structural engineer liability coverage that reflects the scope of their exposure to risk as well as the value of that risk.
Why Add an E&O Policy To General Liability Insurance?
General liability coverage might provide for some coverage when you have minor errors and omissions claims, but it’s designed to cover your risks in several areas. If your E&O exposure could max out the policy in just a couple claims, it doesn’t make sense to lean on general liability insurance for that coverage when you could get a much higher coverage limit for less by adding a separate professional liability policy.
Updating Your Professional Liability Coverage
As your practice grows, so will the financial exposure you face in the event of an incident that leaves you liable for damages. Structural engineer liability coverage is designed to make sure you’re always protected, but it needs to be kept up to date. Any time you’re taking on a project above and beyond the scope of your current coverage or you find yourself more than a year past your last insurance review it’s time to schedule a new one.