errors and omissions

[clay1492]

Does anyone know where to buy errors and omissions insurance for a small scale operation. I just got my PE License (& stamp) and would like to review a couple of drawings a month. This would be a small side job. Does anyone know where I can get errors and omissions insurance that is affordable for such a small time operation. Or should I form a S-Corp and just take the risk.

Thanks in advance.

 

[Guest]

clay --

There was some previous discussion at EB.com Insurance Discussion Link

The basic message I got was expect a little

and also a little

when getting the insurance.

Now you know why ScottieSEI has crosses in his eyes. :appl: Good luck.

JR

 

[scottiesei]

If you are in Florida, PM your info and I will hook you up with my insurance guy.

 

[Slugger926]

It is now reffered to as Proffesional Liability.

For small stuff, you can get State Farm PL insurance for about $350-$400 per year per million.

 

[clay1492]

Thanks for the information. I was/am hoping to get some insurance that is somewhat reasonable so that I can review drawing part time. I am also trying to see the risk associate with forming an S- corp. and not buying any insurance for the first few years. If I get sued then I am not personally liable. As a small Corp, they might get a computer and some office furniture. Any advice or comments would be appreciated. BTW, I am located in Alabama.

Clay1492

:thumbs:

 

[GCracker]

Clay, I am 99.99999% sure that professional engineers are not protected from lawsuits by the corporation status. Check the laws governing your state. From a finance stand point your assests will be protected by the Corp, but professional liability is a whole different ball of wax.

 

[clay1492]

Thanks for the information. I was/am hoping to get some insurance that is somewhat reasonable so that I can review drawing part time. I am also trying to see the risk associate with forming an S- corp. and not buying any insurance for the first few years. If I get sued then I am not personally liable. As a small Corp, they might get a computer and some office furniture. Any advice or comments would be appreciated. BTW, I am located in Alabama.

Clay1492

:th_rockon: