Engineering Insurance

Tailored insurance for engineering consultants

Engineering insurance policies such as professional indemnity insurance, public liability insurance are our specialty.

Trust the team with years of experience insuring all types of engineering consultants.

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What you need to know about

Engineering Insurance

Insurance for engineering consultants can be difficult if not done correctly. Our team of expert insurance advisors have worked with many engineering professionals so we understand what risks you face. By understanding the work that you do we can provide you with tailored advice on what insurance policies you should consider.

The most common policies that are needed by engineering consultants are:

  • Professional Indemnity Insurance 
  • Public Liability Insurance 
  • Portable Tools of Trade (if using specialty diagnostic equipment of higher value)
  • Commercial Vehicle Insurance
  • Business Property Cover 

We can provide insurance quotes for a wide range of engineering professions that include:

  • Acoustic Engineering
  • Civil Engineering
  • Drafting Engineers 
  • Electrical Engineers
  • Environmental Engineers 
  • Structural Engineers 
  • Telecommunication Engineers 
  • Mechanical Engineers 
  • And many more 

Engineering insurance policies are typically required due to the type of works that they do. For example, as most engineers to some degree provide advice, certification and compliance sign offs Professional Indemnity insurance for engineers is the policy that requires the highest priority.

We keep our paperwork to a minimum so its simple, quick and straight forward.

Why Priority Insurance Brokers?

Why should you use Priority Insurance Brokers to arrange your Engineering Insurance?

Stop paying more for insurance, get a quote now.

What insurance policies do engineers need?

Professional Indemnity Insurance for Engineers is designed to cover you for financial loss that is caused due to errors and omissions that you are considered liable for. 

Major losses that could typically occur include: 

  • Failing to comply with relevant clauses and legislation
  • Failure to take building regulations, energy and electrical codes (plus any other applicable codes)
  • Errors in design 
  • Errors in issuing certificates 
  • Breach of contract conditions 

These are just some of instances that can be covered by a PI insurance for engineers policy. 

Similar to most office-based occupations the public liability insurance for Engineers is usually quite a low risk and as such the premium is quite affordable. 

Public Liability Insurance for Engineers should be considered so that your business is covered for personal injury and property damage that you become legally liable for. 

This means that should you attend a site to complete an inspection and damage some part of the project your liability insurance will provide cover.

This also covers any customers and clients coming to your office if you have a physical location. 

Some Engineering companies carry expensive equipment that is related to their profession. 

Things like diagnostic equipment, surveying equipment, cameras and other specialist equipment are usually covered under a portable tools cover. 

This cover allows the items to either be covered specifically or under a blanket cover for multiple items. 

This means that your equipment will be covered anywhere within Australia. 

Need a Broker who can assist with insurance for Engineers? We've got you covered.

We understand that running an engineering business takes a lot of work and as a business owner you’re expected to be across every part of your business. We have made our process as simple as possible.

All of our Brokers work with each engineering business to understand how your business runs and what potential risks you may be exposed to. Once we understand your business we then provide you with tailored advice relating to your engineering insurance package and what specific policies we recommend.

Your Engineering Insurance Policies Questions Answered

Do you work with all Engineers?

Yes, we can usually place cover for most occupations depending on what your business does. 

Structural Engineering Insurance - Why is it difficult?

Professional Indemnity Insurance for Structural Engineers can be difficult to insure due to the nature of your business. 

Insurance is all about consider the overall risk and what the chance of recovery is for the insurer should they need to pay out on a claim. 

As a Structural Engineer you are typically the last link in a chain of many trade occupations where you provide the final sign off or certification. 

This means that should you sign off on something that doesn’t comply with current building codes you are typically liable for the associated damages. Furthermore, as you are the last link in the chain there is likely minimal if any chance of recovery from the insurer. 

Do you have a more comprehensive list of occupations you work with?

We typically can provide insurance advice to all aspects of engineering. For a wider list of occupations that we can provide insurance for is: 

  • Acoustical
  • Agricultural
  • Automotive
  • Biomedical
  • Chemical
  • Civil
  • Communication
  • Construction managers
  • Consulting
  • Drafting technician
  • Drilling
  • Electrical
  • Engineering testing labs
  • Environmental
  • Fire protection
  • Forensic
  • Geo-technical & Soil
  • Heating ventilation air conditioning
  • Hydrological
  • Industrial
  • Land surveyors
  • Landscape architects
  • Manufacturing
  • Mechanical
  • Mining
  • Project managers
  • Process
  • Software
  • Structural
  • Telecommunications

Can I bundle my Engineering Insurance together?

Yes, we are a full service brokerage which means we can provide and bundle all insurances together. 

Whether that be on a single policy (if possible) or have multiple policies renewing at the same time on one monthly repayment. 

How much is PI Insurance for Engineers?

This is difficult to answer however, the contributing price factors with PI insurance for Engineers is:

  • What type of engineering that you do
  • What your gross fee income is
  • The average value of projects that you work on 
  • Years of experience 
  • Whether you have had any claims

Does Civil Engineering Insurance follow the same recommendation?

Yes, it does. 

Most Civil Engineering Insurance policies will include professional indemnity, public liability, portable equipment and a busines property cover if you have an office location. 

Civil Engineering Insurance policies should have higher limits considered due to the nature and value of the contracts that are being worked on. 

Some Civil Engineering Insurance policies will be difficult to place if there is any bridge, dam or tunnels included in your business activities. 

How long should I hold Professional Indemnity Insurance for Engineers?

There is no specific answer to this question however, most Engineers will consider holding their professional indemnity insurance for up to 5 to 7 years after they stop practicing.

This is mainly because Professional Indemnity insurance for Engineers and other occupations is written on a claims-made basis. 

A claims-made basis means that the policy needs to be current when the claim is made. 

As with most professional service occupations a loss could occur many years after the advice has been provided and as such, if you cancel your policy when you stop trading this confirms with the insurer that any claim that hasn’t already been notified will not be covered.  

Does my engineering insurance also cover the work of apprentices and employees?

Yes, your public liability insurance covers your business in its entirety. 

This means that if your business is held liable and the damages fit within the scope of your cover then if it was caused by an employee or apprentice then it would be covered. 

If the damages were caused by a sub-contractor, they are not considered employees and would be treated differently in the event of an insurance claim.

How to find a good engineering insurance broker?

Building a relation with your engineering insurance broker is extremely important. 

You should be able to trust the advice being provided by your engineering insurance broker to ensure that you are covered correctly. 

Losses that occur within the industry can trigger significant financial losses to your business so it’s very important to place your business with an engineering insurance broker that you trust.

What other insurances do I need to consider with my liability insurance?

If you are operating a business then there is a good chance that you will need more insurance than just Public and Product Liability insurance. This depends on your business as the types of policies that a cafe would have in place compared to a tradesman are completely different. To get a full assessment of your business and understand exactly what you need, we recommend that you talk with an Insurance Broker.

Other common policies that may be needed.

As an example only some other insurances that your business may want to consider is the following:

  • Professional Indemnity Insurance: If you are providing any design, certifications, sign-offs or providing advice in return of a fee than you should have a Professional Indemnity policy in place. 
  • Business Property Cover: A business package insurance policy is typically for businesses that operate out of a physical location and things like contents, stock and machinery need to be covered. 
  • Motor Vehicle Insurance: Most businesses will operate a motor vehicle or even have a fleet of delivery vehicles. We tailor specific motor vehicle insurance policies for each business and is suitable whether you have only 1 vehicle or hundreds of vehicles.
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