Engineering is a complex industry. Most engineers are very meticulous, knowing that a mistake could be costly or life-threatening. Still, mistakes can be made. No matter which type of engineer you are, you should consider professional liability insurance for engineers in Indiana as part of your insurance portfolio. Errors and omission insurance can protect you when a client believes you made an error or gave bad advice.
E&O Insurance Protects You Against Lawsuits
Today’s society is quite litigious. When you provide professional services, you open yourself to lawsuits. Some of these lawsuits may not be valid, but you still have to defend yourself until it’s proven as such. Professional liability insurance for engineers in Indiana covers the defense costs associated with a lawsuit and pay out a claim if one is awarded against you.
E&O Insurance Can Help You Obtain More Business
Smaller projects may not require professional liability insurance, but many larger projects do. When you have a professional liability policy in place, you know that you can bid on these larger projects with confidence. Your insurance agency will have resources to help you prevent errors and mistakes in contracts and projects to reduce your risk. It makes sense for your firm to protect your financial assets with professional liability insurance, even if your clients don’t require you to have it.