Engineering insurance

The cost of engineering insurance can vary from business to business and risk to risk. A number of factors can impact the premium of an individual policy, including:

• Size and turnover

• Geographical location

• Claims history

• Services and goods sold.

Different insurers may also have different pricing structures. Insurance providers can base a policy’s premium on the risks they take on – and having a high number of exclusions can reduce these risks, which may result in a lower premium.

We strongly recommend reviewing the policy wording or product disclosure statement beforehand to make sure the cover you are arranging meets the specific risk requirements of your business.

Both can be key for engineers for different reasons.

Professional indemnity helps cover claims made against you and your employees on the basis of poor advice or services. Specifically services that led to financial loss or physical loss.

Public liability helps cover the costs incurred if a third party is injured or has their own property damaged as a result of your activities.

Comprehensive engineering insurance packages both in a single policy – such as the kind we can arrange at Marsh.

Even if you run your engineering business from home, you’re still exposed to certain risks. 

Accidents can still happen in your own space, as well as allegations of improper advice, professional negligence and more.

Consider whether professional indemnity insurance and public liability insurance can help protect your business.

A certificate of currency is proof that you hold a current insurance policy.   

Please contact us once you have accepted your policy and we will arrange for a certificate of currency to be sent to you from your insurer. 

The answer depends on how often your business changes.

As a rule of thumb, we recommend you review your policy at least once a year. This will ensure your business’s current risk exposures are covered.

But major changes – like business growth, greater work complexity or expanded services – should always prompt an insurance review.

Some insurers need to know about certain changes in accordance with your duty of disclosure. If your business has changed recently, contact the Marsh motor trades team to update your policy. 

Yes. We can arrange monthly instalments* with a premium funder provided you meet certain criteria.

To arrange monthly payments, talk to one of our dedicated Marsh insurance brokers.