Surveyors Insurance

Surveyors Insurance can include cover for claims made against you by a client or third party that alleges professional negligence, a breach of trust or confidentiality, defamation, or property damage arising 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, helping to protect your business financially and manage risk effectively.

The other insurance you need will be based on your specific needs and circumstances. Looking to close your business? Then you may need Run Off Cover to maintain protection for the policy period after ceasing practice. 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 professional indemnity cover. If you have employees, you will need Employers Liability Insurance. Do you have equipment that needs protecting? Then a Commercial Property Insurance protects your office furniture, IT equipment, and technical surveying equipment. Public liability insurance is also vital to protect against claims of bodily injury or property damage caused to third parties during your professional services. 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. Together, these policies form a perfect insurance package tailored to your business needs.

Yes – it is vital that you secure ‘run-off’ cover for your previous practice after you cease to practise. This is to offer protection for claims related to 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 potential claim in future or not. Access to such cover ensures ongoing financial protection against any court claims or ombudsman awards.

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.

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 firms and companies

If you want to discuss the right professional liability insurance and surveyors professional indemnity insurance for your surveying business, contact our expert insurance brokers who understand the regulations and requirements set by professional bodies to ensure you have the best coverage for your expertise, risks, and financial protection.