How much does engineer insurance cost?

The median cost of professional liability insurance for an engineering business is about $155 per month, or $1,875 annually. The median value eliminates high and low outliers, providing better representation of typical engineer insurance costs than the average value.

This policy, also known as errors and omissions insurance (E&O insurance), protects engineers against lawsuits brought by clients claiming that work was inaccurate, late, or never delivered.

Median cost per year: $1,875
Policy limit: $1 million per occurrence
Policy deductible: $2,000 

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.

Engineers pay a median premium of about $40 per month, or $475 annually, for general liability insurance. This policy provides protection against third-party injuries, damaged client property, and advertising injuries.

Median cost per year: $475
Policy limit: $1 million per occurrence
Policy deductible: $500

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

Engineers typically pay around $45 per month for a business owner’s policy, or a median annual premium of $550. 

A business owner’s policy bundles general liability insurance with property insurance, usually at a discounted rate. Pricing is determined by your engineering firm’s location, operations, and the value of your business property and equipment. This policy may include business interruption insurance, which covers lost income at your business due to an unexpected closure.

Median cost per year: $550
Policy limit: $1 million per occurrence
Policy deductible: $500 

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.

The median cost of workers’ compensation insurance for an engineering firm is less than $50 per month, or slightly less than $600 annually. Policies can vary significantly depending on the state and business operations. Include accurate payroll figures in your quote application to avoid the need to adjust premium rates if your payroll amount changes.

Workers’ compensation insurance is required in almost every state for engineering companies that have employees. This coverage helps pay medical fees and lost wages for employees who are injured on the job. Most policies include employer’s liability insurance, which protects owners against lawsuits related to workplace injuries.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.