Engineering is a very loose term because engineers can range from the traditional heavy industries through to the latest high tech. Work can be entirely desk based or physically strenuous. The level of precision could be microscopic or measured in paces. The end product could be safety critical or just for fun. Therefore insurance for engineers should not be treated as a commodity or there is the risk that your engineering insurance will not cover your particular form of engineering. Here are some of the areas of cover you may wish to discuss with your broker:

Efficacy
Efficacy Insurance will give engineers cover should an item they design, manufacture, supply or install fail to perform its intended function. This is especially important with safety critical systems such as brakes, temperature controls, fire protection, etc.

Professional Indemnity
Engineers will require professional indemnity insurance if they give consultancy, advice or produce designs, because professional indemnity insurance is designed to cover your liability for professional errors or omissions.

Engineering Breakdown
If your business is heavily reliant upon its machinery or computers then engineering breakdown insurance can not only cover you for the cost of repair or replacement of your equipment should it be damaged, stolen, explode or breakdown, it can also extend to reimburse your lost income whilst the equipment is out of use and for the additional costs of working and reinstating data.

Contract Works / Contractors All Risks
Engineers who are involved with construction or installation may want to consider Contract Works or Contractors All Risks insurance. The main benefit of Contract Works insurance is that it provides insurance cover for buildings being constructed, refurbished or extended or for equipment or machinery being installed. In addition the policy can extend to cover materials in transit or being delivered, construction plant and equipment and tools.

Product Recall
If you manufacture or supply an item that is found to be faulty and therefore may be dangerous then product recall insurance can cover the costs of locating and recalling the items, the interruption to your income and the provision of specialist crisis management and publicity consultants. Product recall insurance can save an engineering business from a mistake that could otherwise be catastrophic.

For further advice on insuring an engineering business you should contact an independent insurance broker who specialises in engineers insurance.