Types of insurance to consider when buying engineering insurance
Engineers product liability insurance
If you design, make or sell products to the general public it’s down to you to make sure they are completely safe. Most products are regulated by health and safety and product safety laws and it’s essential that these laws are complied with.
Whilst every care is taken by your business to ensure that your products meet the necessary safety criteria, it’s still possible that a person or their property may be injured or damaged by your products. For protection against costly legal fees and/or compensation claims, you should therefore consider product liability insurance if your business makes, designs or supplies a physical product, as a claim can be made by a customer even up to 10 years after purchase.
Engineers professional indemnity insurance
Also known as PI insurance, engineers professional indemnity insurance covers legal costs and expenses you may run up in defending a claim made against you. It’s also likely to cover any damages or costs that may be awarded if you are alleged to have provided sub-standard advice, services or designs that cause your client to lose money. It’s highly recommended for anyone who is a contractor or freelancer.
Why choose Real Insurance Brokers for my engineering insurance?
Here at Real Insurance Brokers we pride ourselves in listening to what our customers need from their insurance and offer a personal, bespoke service. We work with a range of leading UK insurers and would be pleased to guide you through your options.
Simply call us now and let us do the searching so you don’t have to.