The limit of Professional Indemnity cover required for your engineering business will depend on several factors, including; 

• Your Field of Engineering – Some engineering disciplines have a higher exposure if something goes wrong. 
• Average Project Values – What amount are you exposed to if the worst possible thing happens? 
• Contractual Obligation – Does your contract require you to have a certain level of coverage?
• Registration or State-based Requirements – Is there a minimum amount of coverage required to be registered in the state where you operate?

Generally, the Professional Indemnity limits of cover available to Engineers are as follows:

• $1 million
• $2 million
• $5 million
• $10 million
• $20 million

For sole practitioners or those working on smaller projects, the lower end of the limits generally meets requirements. Engineers involved in major infrastructure, government or commercial projects will require limits at the higher end.

We can help you assess your business risk profile and provide multiple insurance limit options tailored to your needs. Speak to one of our team members today.