E&O insurance for land surveyors

Accuracy is key in your line of work. If mistakes are made and property lines crossed, your client could sue. And without the right insurance, that’s going to cost you.

Errors and omissions insurance (E&O) can protect your business from the cost of a claim like this. Even if it’s groundless.

• Why do land surveyors need errors and omissions insurance?

  Because you offer a professional service. And that means your clients can sue you if they think you made a mistake.

  Say your client took your advice on boundary lines and built a swimming pool in their yard. Their neighbor then claims it’s encroaching on their property. Moving a swimming pool will cost your client thousands of dollars. Who do you think will get the blame? You guessed it.

  Whether you incorrectly mapped boundary lines or not, your client could sue you to try to recover their loss. And if the case goes to court, you could be looking at costs of 5, sometimes 6 figures.

  Now you have to defend yourself – your reputation’s on the line. But the thing is, claims like these don’t just cost you money, they take up your time. And that’s time better spent running your business.

  Even if a claim is groundless, errors and omissions insurance can hire you an attorney, pay your legal fees, and compensation, too. Leaving you to run your business, knowing you’ll still have one when it’s all over.

  Just so you know, E&O is also called professional liability insurance. But what’s in a name? All that matters is it does the same thing – protects your name, your business, and your bottom line.

• What does errors and omissions insurance for land surveyors cover?

  • Claims made against you for professional negligence, whether you’re at fault, or not
  • Worldwide claims – so long as the claim is filed in the U.S., a U.S. Territory, or Canada
  • Claims arising from work you’ve done in the past
  • The cost of hiring an attorney
  • Your legal fees
  • Compensation payment, if you’re found at fault

• How much does land surveyor E&O insurance cost?

  Our errors and omissions policy for land surveyors starts from $270 annually. Or spread the cost by paying monthly. Whatever works for you.

  As for the amount of cover, it’s always best to over-estimate. Think worst-case scenario; just be sure to pick a figure you can sensibly afford.

• What other insurance policies do land surveyors need?

  • General liability insurance – You need general liability insurance as you spend 90% of your time on-site. It protects your business from the cost of bodily and personal injury claims plus damage to someone’s property.
  • Cyber liability insurance – Cyber insurance is key if you use email, own a website, or store client data. It can’t stop a cyber-attack, but it can pay your recovery costs so your business survives one.
  • Business personal property insurance – This policy covers the equipment you take with you on-site. It also covers the moveable stuff in your office –from your furniture to your potted plants.
  • Workers’ compensation insurance – Most states require you to have this the minute you hire your first employee. It protects your business from the cost of workplace illness and injury claims. Which is useful as these can be crippling.
  • Business owner’s policy (BOP) – This is a bundle of the basic policies a business owner needs, including general liability, cyber, property and business interruption insurance. Tailor it to suit your needs: add in what you need, remove what you don’t. What’s more, it usually works out cheaper than buying the policies separately.

  But because every land surveyor’s business is different, we can tailor an insurance package to suit you. What’s more, it’ll only take a few minutes.