What does insurance coverage do for you when a client brings forth a claim? In Indiana, professional liability insurance for engineers can cover multiple parts of claims handling. Here is a look at the benefits to liability coverage for engineers.
With the right coverage, your firm can respond quickly to claims. In the case where a building’s structural integrity is questionable, a quick response could save money on the project and lives on the building site.
If a claim goes to litigation, insurance can cover your costs here as well. Some companies even offer to provide direct defense either with their own legal team or one they contract with. This protection prevents you from wasting time pouring over legal documents to defend yourself.
The right insurance can also open up new kinds of contracts. Some clients, especially ones funded by the government, have special requirements about insurance for any company they work with. When choosing coverages, find out which ones are required by local businesses and government agencies.
Finally, protecting your reputation is another benefit to having insurance coverage. If your firm has been wrongfully accused of negligence or error, the claims process can find that and bring it to light.
In Indiana, professional liability insurance for engineers covers a variety of issues. The benefits that come with that can save a firm’s money, time and reputation.