Surveyors insurance

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Insurance for surveyors

Surveyors and valuers belong to a large group of professionals engaged in a wide variety of activities and industries. In the real estate industry, this includes property surveyors, residential/commercial surveyors and building surveyors, while the environment industry includes professions such as minerals and waste surveyors, rural surveyors and hydrographic surveyors.

If you fall under any of these categories, or are a surveyor in a different profession, such as topographical or quantity surveyors, you might consider purchasing surveyors insurance to protect yourself against claims, allegations, theft and damage.

What is surveyors insurance?

An insurance policy for property, land or any other type of surveyor will be tailored to provide financial protection against the risks they face relating to their premises, customers, employees, equipment and tools. All chartered surveyors in the UK are members of the Royal Institute of Chartered Surveyors (RICS), so will be legally required to purchase professional indemnity insurance (PII) in order to operate legitimately. 

If you’re a different type of surveyor belonging to a different professional body, PII is again likely to be mandatory. Some professional bodies also specify the level and quality of cover that needs to be purchased. Surveyors operating outside of professional bodies will likely find that standard surveyors insurance policies are nonetheless similar to those offered for chartered surveyors, from which they can then choose options for further protection. There are specified exclusions in every insurance package, so it’s important to read the policy options and wording carefully before making a purchase.

Some of the standard policies offered as part of a surveyors insurance package include:

  • Professional indemnity insurance (PII):
    As mentioned above, PII is mandatory for most professional surveyors. PII can cover the cost of defending your business against allegations of professional negligence, wrongful acts, errors and omissions, and – if necessary – the cost of damages awarded against you. 

    Civil liability insurance is a supplement to PII and can cover you against defamation, privacy and copyright infringements, breach of contract or warranty, intellectual property, personal injury and security.
  • Public liability insurance:
    This is essential for surveyors who visit clients’ properties or have clients visiting their business premises. Public liability insurance can cover the cost of defending your business and pay any necessary costs resulting from claims that your client has been injured or their property damaged as a consequence of your work. 

    Non-negligence insurance is an extension of public liability insurance. While not widely offered by insurers, this is designed to cover for injury to your client or damage to their property when there is no clear negligence.
  • Employers' liability insurance:
    Legally required if your business includes employees, employers’ liability insurance can protect against claims of injury or illness suffered by your staff as a result of their employment with you.

         Click the link if you're wondering 'do I need employers' liability insurance'.

  • Directors and Officers insurance (D&O):
    While not a legal requirement, D&O insurance can be useful if your business includes executive-level employees such as directors, officers and managers. Employees at this level are personally liable for their actions and can be sued directly. D&O can provide these employees with protection against allegations of wrongful acts committed by them, and any damages subsequently awarded.
  • Business buildings insurance:
    This can cover your business premises against accidental and malicious damage. While policies differ in terms of the cover they offer, business buildings insurance can cover your office building(s) and its permanent fixtures, fittings and equipment.
  • Business interruption insurance:
    This policy could help cover costs incurred by your business – including loss of revenue – due to your business experiencing an unexpected closure. Examples of this can include unexpected damages due to extreme weather or malicious acts.

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