Surveyors Insurance

Surveyors Insurance can include cover for claims made against you by a client or third party that alleges negligence, a breach of trust or confidentiality, or defamation from the professional risks that your practice faces. 

Adding in additional insurance coverage, for example, cyber insurance can cover the risks to your business that fall outside of your professional activities.  

The other insurance you need will be based on your circumstances. 

Looking to close your business, then you may need Run Off Cover. 

If the Limit of indemnity needs to increase, then you need Excess Layer Insurance. 

Do you need to cover past works, then we can work with you to put a Retroactive Date on your PI Cover? 

If you have employees, you will need Employers Liability Insurance. 

Do you have equipment that needs protecting? Then an Office Insurance policy can provide cover for your furniture, IT equipment, technical surveying equipment. 

If you don’t want to be personally liable as a Director, a Directors’ and Officers’ insurance policy covers your defence costs and any compensation you must pay. 

Yes – it is essential that you secure ‘run-off’ cover for your previous practice after you cease to practise. This is to cover you for claims for work done while in practice but arising after the practice ceased. This requirement is in your own interests whether you think you might have a claim in future or not. 

We can, yes. Some survey and valuation work is deemed a bit riskier than other types of surveying work, so we will need a chat through your work and who you do it for. It may also mean your premium is a bit higher. 

Since the 2008 financial crash, many properties have been sold at a loss. Mortgage providers looked to recoup their losses and looked to inaccurate valuation and, therefore, surveyors. 

That’s why insurers like to look at all the facts before offering cover for valuation work, even if you no longer do it. And that’s why we’ll ask you for more details about your work first. 

Surveying insurance is suitable for: 

• Building surveyors 
• Quantity surveyors 
• Land surveyors 
• Environmental surveyors 
• Rural Practice surveyors 
• Party wall surveyors 
• Planning and development surveyors 
• Valuation surveyors 
• Commercial surveyors
• General surveyors
• Independent surveyors 
• Surveying companies 

Depending on the type of valuations being done or the lenders you work for, some surveying practices can be seen to have a lower risk profile.