Wisconsin Civil Engineer Insurance Policy Information
Wisconsin Civil Engineer Insurance. Civil engineers have the exciting and rewarding job of designing, planning, and supervising the construction of a wide variety of construction projects - including, to name but a few examples, buildings, roads, bridges, parks, and harbors. A civil engineer will typically further specialize in, for instance, construction or structural engineering.
Civil engineers use higher mathematics, economics, biological, and physical sciences to design airports, bridges, buildings, harbors, highways, irrigation systems, manufacturing plants, pipelines, railroads, and tunnels.
They may specialize in construction, environmental, forensic, geotechnical, hydraulic, municipal, structural, transportation, or water resource fields. The engineer is hired by a client and may conduct research, prepare prototypes, or design specifications to meet the client's requirements.
They may test structural failures to identify problems and propose solutions.
A great many civil engineers will thrive as employees within the public or private sector, but some decide to take the plunge and start their own companies.
Owning and managing your own business within the civil engineering branch will allow you greater freedom in deciding what projects to work on, and it can be highly profitable as well.
Civil engineers who own their own business also, on the other hand, face a range of risks, each of which could prove to be financially devastating. What kinds of Wisconsin civil engineer insurance would be needed to protect themselves from the fallout of major perils? To find out more, keep reading.
Wisconsin civil engineer insurance protects your engineering firms from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Do WI Civil Engineers Need Insurance?
Civil engineering firms face a variety of hazards, and even though you can reduce your risk by implementing various health, safety, and security measures, it is simply not possible to bring your risk down to zero.
Civil engineers could, at virtually any time, be impacted both by universal risks and industry-specific perils.
Your office space could, for instance, fall victim to burglary, cyber theft, or acts of vandalism, causing significant damage to, or loss of, commercial assets.
On an even larger scale, the threat of acts of nature, like earthquakes, hurricanes, lightning strikes, or other severe weather events also has to be considered.
WI civil engineers who employ others face the risk that a worker will become injured on the job, and if clients visit you in your office space, an injury on their part could lead to a costly lawsuit, too.
Another serious risk lies in the possibility that a client accuses you of being negligent in carrying out your job, which, especially if such as claim includes bodily injury or serious property damage, can cause costs so massive that they could easily be bankrupting in nature.
Only a solid Wisconsin civil engineer insurance plan, which provides coverage for all the major perils you face, can shield a civil engineer with a private business from the financial disaster these and other unforeseen circumstances would otherwise bring.
That is why it is vital to evaluate your insurance needs with great care.
What Type Of Insurance Do Wisconsin Civil Engineers Need?
Civil engineering is a broad and diverse profession. Your insurance needs will be influenced by the same factors that make your business unique - the exact nature of the work you do, the WI location where you are based, the size of your business, and how many employees you have.
A commercial insurance broker who understands your field should be consulted to make sure all eventualities are covered. Some of the most important kinds of Wisconsin civil engineer insurance include, however:
- Commercial Property - Your commercial building, your assets within it, and any equipment you have rented, could all be lost or suffer severe damage if your company is affected by an act of nature, theft, or vandalism. This form of insurance will cover a substantial portion of the resulting expenses.
- Commercial General Liability - Whether a visitor to your premises is injured, or your company's activities accidentally cause damage to property belonging to someone else, you can face costly litigation. General liability insurance covers your attorney fees, settlement costs, and other legal expenses.
- Errors And Omissions - This type of Wisconsin civil engineer insurance coverage will help you deal with the financial fallout of claims that you made errors in your job or performed your duties negligently, even if the claim is later found to be baseless. As these kinds of claims are not uncommon for civil engineers, this form of coverage - also called professional liability insurance - is essential.
- Workers' Compensation - You will generally require workers' compensation insurance if you have employees. These policies protect you and your employees in case of a work-related injury or occupational illness (resulting from exposure to harmful substances, for example). The injured employee's medical bills and any lost wages are taken care of, and in turn the risk of lawsuits is reduced.
Although these important types of Wisconsin civil engineer insurance will certainly make running an engineering firm less uncertain, you may also require additional forms of coverage - such as commercial auto, cyber, or environmental liability insurance.
Ask a seasoned commercial insurance agent for further details.
WI Civil Engineer's Risks & Exposures
Premises liability exposure is limited at the engineer's location. If customers visit the premises, they must be confined to designated areas that are free of obstacles with floor coverings in good condition. The number of exits must be sufficient and well marked, with backup lighting in case of power failure.
Parking lots and sidewalks need to be in good repair with snow and ice removed, generally level and free of exposure to slips and falls.
Off-site exposures consist of visits to customers' premises and job sites. There should be procedures in place for enforcement of rules regarding off-site conduct by employees.
Professional liability exposure is extensive due to the catastrophic potential for injury and death from an error in design that results in structural failures, such as the collapse of an interstate bridge or high-rise.
The exposure increases if the firm fails to conduct thorough background checks to verify employees' accreditations, education, and licensing, permit clerical workers to do tasks that only professionals should handle, or if error checking procedures are ignored or are inadequate.
All design specifications must be followed, and inspections regularly conducted. Documentation must be clear, with changes marked and authorizations signed by both the engineer and the customer.
Agreements with clients, including fee arrangements, should be in writing. Customers can suffer financial loss due to construction delays and cost overruns. Other exposures include allegations of breach of a client's confidentiality or a conflict of interest.
Workers compensation exposure is from office operations and off-site visits to customers' premises and job sites. Since work at the office is done on computers, potential injuries include eyestrain, neck strain, carpal tunnel syndrome, and similar repetitive motion injuries that can be reduced with ergonomically designed workstations.
Off-site exposures may include working at construction sites, at heights, on rough terrain, or in isolated areas. Engineers can be injured off-site by slips and falls, falling objects, falls from heights, electrical panels and wiring, construction machinery, flying debris, noise, foreign objects in the eye, assault, and automobile or aviation accidents. Protective equipment may be required.
Property exposure is primarily that of an office. Ignition sources include electrical wiring, heating and air conditioning systems, wear, and overheating of equipment. The storage of paper reference materials and customers' records may add to the fire load.
Storage should be in fireproof file cabinets, and fire suppression systems must not damage the papers. Computers and other electronic equipment may be targets for theft.
Inland marine exposure consists of accounts receivable if the firm offers credit, computers, and valuable papers and records for clients' information, proposals, prototypes, final specifications, and work in progress.
Computers generally have expensive hardware and software designed specifically for engineering applications. Power failure and power surges are potentially severe hazards. Computer systems must have adequate security features to prevent unauthorized access due to industrial espionage or by hackers. Duplicates must be made often and stored off-site.
Storage on premises should consist of fireproof cabinets. There may be an off-premises exposure if engineers take tools and equipment to customers' job sites.
Crime exposure is from employee dishonesty, which can be very high as engineers possess unique access to customers' proprietary information. Potential for theft, particularly industrial espionage, is great. Background checks should be conducted on all employees.
Monitoring procedures and securing of all records should be enforced to prevent unauthorized access to client information. There must be a separation of duties between persons handling deposits and disbursements and reconciling bank statements. Employee dishonesty issues may arise when an employee is on a client's premises.
Business auto exposure comes from the vehicles used to travel to visit customers and job sites. Generally, the vehicles are private passenger types or pickups. Engineers may use rental cars when proceedings are not local.
If vehicles are supplied to employees, there should be written guidelines regarding the personal and permitted use of the vehicle. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and records kept in a central location.
Wisconsin Civil Engineer Insurance - The Bottom Line
To learn more about the exact types of Wisconsin civil engineer insurance policies you'll need, and how much coverage to get and the premiums, speak with a reputable business insurance broker.
Wisconsin Economic Data, Regulations & Limits On Commercial Insurance
Location is one of the most important factors that determines the success of a business. It doesn't matter how high-quality the products and services of the business are, if it the operation isn't located in an area that offers a market that can benefit from those products and services, the business isn't going to succeed.
With that said, entrepreneurs that are thinking about setting up their headquarters or a branch of their establishment in Wisconsin should familiarize themselves with the opportunities that the state offers. They should also be aware of what types of rules and regulations are in place regarding commercial insurance.
Below, you'll find a brief overview of both the economic trends in the state of the Badger State, as well as mandated forms of business insurance coverage.
Business Economic Trends In Wisconsin
According to recent data, the economy in the state of Wisconsin has been strong over the past few years, and continued growth is projected through the end of 2019. As of March, 2019, the unemployment rate in the Badger State was 2.9 percent, a good indicator of the state's economy, especially when compared to the national unemployment rate, which was 4.0 in January of 2019. At present time, Wisconsin ranks 12th for states that offer the best job opportunities, and 8th in job market strength.
With tax policies that are beneficial for business owners and an increase in skilled labor, Wisconsin offers great promise for entrepreneurs that are looking to start a successful business in the state. According to the latest data, key areas for business development include major cities, such as Green Bay and Madison, as well as areas that are situated near these urban centers, including Monona, Ashwaubenon, Wakuesha, Plymouth, Hudson, and Waupaca; among others.
Several industries are flourishing in the Badger State in 2022, and are expected to see continued growth, including:
- Information technology
- Life sciences
Commercial Insurance Requirements In WI
The Office of the Commissioner of Insurance regulates insurance in the WI. As with every other state in the country, business owners in Wisconsin are legally required to have certain types of business insurance.
In WI, any business that has one or more employees must carry workers compensation insurance, which provides coverage for employees for work-related injuries and illnesses.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Armored Car
- Attorney Lawyer
- Background Music Services
- Business Consulting
- Chemical Engineers
- Civil Engineers
- Claims Adjuster
- Commercial Laundries
- Commodity Broker
- Corporate Wellness
- Court Reporter
- Credit Bureaus
- Debt Collection Agency
- Detective Agency
- Diaper Services
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Planner
- Financial Services
- Funeral Directors
- HR Consultant
- Inspection Bureaus
- Insurance Agents & Brokers Insurance
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Office Machine Repair & Maintenance
- Piano Tuners
- Project Management
- Safety Consultants
- Speakers Bureaus
- Temporary Staffing
- Tax Preparer
- Title Abstractors
- Valet Parking
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Money and Securities, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
Request a free Wisconsin Civil Engineer insurance quote in Allouez, Appleton, Ashwaubenon, Baraboo, Beaver Dam, Bellevue, Beloit, Brookfield, Brown Deer, Burlington, Caledonia, Cedarburg, Chippewa Falls, Cudahy, De Pere, DeForest, Eau Claire, Elkhorn, Fitchburg, Fond du Lac, Fort Atkinson, Fox Crossing, Franklin, Germantown, Glendale, Grafton, Green Bay, Greendale, Greenfield, Harrison, Hartford, Hartland, Holmen, Howard, Hudson, Janesville, Kaukauna, Kenosha, La Crosse, Little Chute, Madison, Manitowoc, Marinette, Marshfield, Menasha, Menomonee Falls, Menomonie, Mequon, Merrill, Middleton, Milwaukee, Monroe, Mount Pleasant, Muskego, Neenah, New Berlin, Oak Creek, Oconomowoc, Onalaska, Oregon, Oshkosh, Pewaukee, Platteville, Pleasant Prairie, Plover, Port Washington, Portage, Racine, Reedsburg, Richfield, River Falls, Shawano, Sheboygan, Shorewood, South Milwaukee, Sparta, St. Francis, Stevens Point, Stoughton, Sturgeon Bay, Suamico, Sun Prairie, Superior, Sussex, Tomah, Two Rivers, Verona, Watertown, Waukesha, Waunakee, Waupun, Wausau, Wauwatosa, West Allis, West Bend, Weston, Whitefish Bay, Whitewater, Wisconsin Rapids and all other WI cities & Wisconsin counties near me in The Badger State.
Also find WI local small businesses by General Liability Class Code and learn about Wisconsin small business insurance requirements for general liability, business property, commercial auto & workers compensation including WI business insurance costs. Call us (608) 676-0031.