Insurance for Engineers

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Why do Engineers need Business Insurance?

Insurance for engineers is there to protect against risks like errors and omissions, miscalculations to things like accidental injury or damage to the third party (when not covered by the ACC). There are additional coverages to protect things like your business assets too, giving you peace of mind that your engineering business has a solid blueprint to safeguard it for the future.

As an engineer, you manage large responsibilities. Clients seek out your advice and need your expertise when it comes to different projects. From those vital initial stages of the planning and designing to overseeing your creations come to life, there are many elements which are involved throughout the process, which also creates an opportunity for things to go off the plan.

Even if you have many years of engineering experience, the reality is things can still go wrong and result in a costly claim. Regardless of the area of engineering you specialise in, engineers typically require appropriate insurances in place to protect their business from any financial or legal risks should a claim occur.

These are some typical reasons why engineers need to consider business insurance:

  • For some engineering professional industry memberships, it may be a requirement to have Professional Indemnity insurance* in place
  • If you are working out on site, it may be a requirement that you have your own Public Liability insurance* cover in place. Be sure to also check the exact level of cover that you need too
  • When you are out and about checking work sites, you may need to consider protecting your valuable tools of trade with Portable Equipment cover*.
  • This can cover things like your laptop and other specialised engineering equipment that you may require to get the job done

With BizCover you can get multiple competitive quotes from selected leading insurers with just a few clicks or a simple phone call.

Did you Know?

Complaints about engineers typically include negligence, misleading information or misrepresentation and breaching the Engineers’ Code of Ethics.

Insurance for Engineers

Professional Indemnity

Professional Indemnity provides indemnity for professional errors and negligence. Importantly, it provides legal defence costs and cover for any awards or settlements in the event of a claim being made against you. Whilst all claims scenarios will be subject to policy terms and conditions, it is essential that as a professional engineer, you buy a policy specifically designed for engineers. Some miscellaneous professional indemnity policies might exclude engineering activity. Typical claims might include specification errors, certification errors and design oversight. The policy also typically provides cover for the costs of responding to a disciplinary investigation.

What is typically covered?

  • Damages and claimant costs awarded against the insured
  • Legal and defence costs
  • Claims investigation costs
  • Inquiry attendance costs
  • Public relations costs

What is NOT covered?

  • Intentional damage
  • Known claims and circumstances
  • Fraud and dishonesty
  • Bodily injury / property damage

Public Liability

As an engineer, you may have to work with contractors, staff, and the general public for various reasons. You may need public liability insurance to protect yourself against any claims and liabilities that arise due to damage to property or injury caused to someone on your premises or where you conduct your business. Some large projects might insist on Public Liability being in place before you go on site.

What is typically covered?

  • Compensation for accidental damage to third party property
  • Compensation for personal injury or death to third parties where the ACC does not provide cover
  • Legal and defence costs

What is NOT covered?

  • Injury to your employees
  • Damage to your own property
  • Compensation for personal injury whereby cover is provided by the ACC
  • Known claims and circumstances

Protect your business today.

Business Insurance

Your clients and projects are critical to your engineering business but take a moment to think about the other things that help to keep your business running too. Your business assets help you to perform your engineering skills to the best of their ability and without them you may find yourself faced with some unwanted challenges. That is where Business Insurance can provide some reprieve.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance policy can also cover your portable equipment, and loss of revenue due to business interruption in specified circumstances.

Some of the different types of business insurance options you may want to consider for your engineering business include:

Building*– Covers you for loss and damage to buildings you own, as a result of an insured event, e.g., fire, malicious damage.

Contents*– Cover for loss of or damage to items such as business equipment, stock, plant and machinery, records, fixtures and fittings and furniture belonging to you at the insured location.

Portable Equipment insurance*– Covers you for loss and damage to your tools and equipment due to theft, fire and other perils listed in the wording, anywhere in New Zealand.

Statutory Liability

Engineers are increasingly vulnerable to changing legislation and any inadvertent breach of New Zealand Statutes can typically be covered by a Statutory Liability policy. The policy covers your legal defence costs as well as, in some cases, any fines incurred.


I am an engineering contractor. Do I still business insurance?

When you are working with contracts you may be required to have certain types of business insurance and levels of cover in place. If in doubt it is always wise to check your contract to ensure you have the appropriate coverage in place.

How much does business insurance cost civil engineers?

No two engineers are the same, assisting with different types of projects and exposed to various potential risks every day. There isn’t a uniformed price when it comes to business insurance for your engineering business, with the pricing calculated on a variety of factors, including some of the ones listed here:

  • Your claim history
  • The type of business operations you perform
  • Your annual turnover
  • The number of staff
  • Level of cover

To receive an accurate idea of how much business insurance will cost for your civil engineering business, have a chat to our friendly team to get a quote.

* This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

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Need Help?

Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals. 

You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents. 


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