What are the most common policies for engineers in Wisconsin?

Engineers make up a good portion of Wisconsin’s over 462,000 small businesses. In fact, The Badger State has one of the country’s highest concentrations of mechanical engineering jobs.

But no matter what type of engineering you do, engineer insurance for Wisconsin small businesses could help protect you.

Common policies that engineers often consider include:

Professional Liability insurance – Wisconsin engineers rely on these policies to protect their businesses against claims of negligence, misrepresentation or mistake, as well as document or paperwork errors.
General Liability insurance – These policies protect businesses against the risk of customer injury and property damage claims and lawsuits.
Business Owner’s Policy – This is a convenient and affordable way for small business owners to protect against several of their most common exposures, such as business interruptions and business property damage.
Workers’ Compensation insurance – These policies provide benefits to employees when they make a claim against their workplace for injury or illness.

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Which insurance policies are required for engineers in Wisconsin?

When you’re starting an engineering business in Wisconsin, you should pay attention to the state’s licensing and insurance laws. You may need to meet specific engineer requirements to work in the state or with certain clients. This might include buying certain types of insurance.

Professional Liability/Errors and Omissions insurance

Professional Liability (also known as Errors and Omissions or E&O) is an insurance policy that protects your business against claims of negligence, misrepresentations, or mistakes. Professional Liability claims are typically made by clients who allege some form of financial damage as a result of your services, products or employees.

Minimum amounts of Professional Liability coverage may be required for engineers to work in Wisconsin or neighboring states.

Mistakes happen, even to the most careful engineer. A tiny error or accidental omission in your work could create huge problems for your business. You could wind up liable for project delays, rebuilds, or other expenses caused by your mistake. But, Professional Liability insurance for Wisconsin engineers could help cover these costs, so you don’t have to.

General Liability

A General Liability policy protects you against claims by an outside party regarding injury or damage to their property. In these instances, your policy will cover your legal expenses as well as your cost to replace or remedy the situation up to the limits of liability.

Your clients may require you to have General Liability insurance to work with them. This engineer requirement (if applicable) will be written into the business contract you sign. Additionally, commercial landlords often require proof of General Liability coverage before leasing you space for your business.

Workers’ Compensation

Workers’ Compensation insurance protects you against medical expenses and lawsuits that can arise from employee workplace injuries and illnesses. It could also pay lost wages as a result of the work injuries that an employee sustains.

Wisconsin law requires most businesses to have Workers’ Compensation insurance if they employ others. You will likely need a policy in place to protect your workers—whether they are employed part-time or full-time, are office staff or are other engineers.

Business Owner’s Policy

A Business Owner’s Policy (BOP) is a convenient insurance package that protects your business against the common risks it faces every day. The BOP product includes various coverages that may suit the unique requirements of your small business. Insurance included in a BOP can vary, but usually, they include protection for typical small business risks such as property damage, business interruption and liability.

While not required for Wisconsin engineers, a BOP can help shield your business finances against everyday risks, like unexpected business shutdowns or damage to your property. The coverage provided by a BOP could help your engineering business keep running if the unexpected were to happen.

How much does engineers’ insurance in Wisconsin cost?

Every engineer is different, and so are their businesses. Many factors that make your engineering business unique are used to calculate your insurance premiums. These may include (but are not limited to) your:

Industry
Number of employees
Qualifications and your employees’ qualifications
Chosen coverage amount
Claims history

When you compare multiple quotes, you can get a clearer idea of how much you’ll pay for engineer insurance in Wisconsin.

How does BizInsure protect engineers in Wisconsin?

BizInsure understands the insurance needs of Wisconsin engineers. We know that you’re busy. That’s why we’ve made it easy to compare multiple quotes and get instant coverage for your small business.

In as little as 10 minutes, you could protect your engineering business against common risks. View quotes from top-rated insurers and choose the policies that work for you. With just a few clicks, you can get covered and get back to work.

Find the best coverage for your small business needs with BizInsure. Compare Professional Liability insurance for Wisconsin engineers and other vital forms of coverage today!

Frequently Asked Questions

How do I get a certificate of insurance?

When you purchase insurance with BizInsure, a certificate of insurance is sent to your inbox instantly. Additional or updated copies can be requested at any time.

How does business insurance protect engineers in Wisconsin?

Business insurance protects Wisconsin engineers by paying unexpected costs that could impact their cash flow. Depending on the type of coverage, your business insurance may cover costs such as:

Compensation to wronged parties
Legal defense expenses
Employee medical bills
Business equipment repairs or replacement

Engineer Insurance in Wisconsin