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Company insurance is intended to safeguard the financial assets of a firm owner and is a vital investment for a land surveying business.

Company insurance is intended to safeguard the financial assets of a firm owner and is a vital investment for a land surveying business.

This article will discuss the primary insurance coverage for land surveying enterprises, general liability insurance, as well as additional policies that are appropriate for this industry.

Land Surveying Companies Need General Liability Insurance

Every firm, regardless of sector, has risks that should be insured. General liability insurance is the most frequent and comprehensive form of coverage that company owners purchase.

General liability insurance covers the following risks:

Physical harm

Damage to property

Medical expenses

Legal defence and decision

Personal and commercial harm

While general liability insurance is not legally needed for companies, operating without it is exceedingly dangerous. If your company is sued, you might face costs in the hundreds of thousands of dollars (or more). The only way to avoid this sort of catastrophe from destroying your organisation is to have an adequate general liability insurance coverage in place to assist pay for these losses.


Example 1: A trespasser is harmed because your employee failed to secure the area after finishing a work. If they sue you, general liability insurance will pay the legal expenses and damages awarded.

Example 2: At the completion of a survey task, a minor hole is not filled in. Your client has stepped into a bind and acquired considerable medical expenditures. His medical bills should be covered by his general liability coverage.

Example 3: Your new website contains a picture that is protected by copyright. In a lawsuit, the photographer mentions your company. In a copyright infringement action, general liability insurance should pay your legal bills and any damages awarded by the court.

Example 4: You requested for a loan to buy additional company equipment, and the bank stipulated that proof of liability insurance be provided as part of the loan agreement. A general liability coverage might assist in meeting this requirement.

Of course, this is not an entire list of risks covered by a general liability insurance policy, and certain situations may result in a specific peril not being covered. To minimise coverage gaps, it’s always better to speak with your agent about the terms of your policy.

General Liability Insurance Cost

In the United States, land surveying companies pay between $500 and $1,500 per year for $1 million in general liability insurance.

The cost of your coverage will be determined by a number of variables. Among them are your:



Employees’ number

Per-occurrence restriction

The overall aggregate limit

You may be able to get general liability insurance at a lower cost if you buy it as part of a business owner’s policy (BOP) rather than as a separate policy. A business interruption policy (BOP) is a more complete option that covers numerous types of coverage, such as business interruption and property insurance.

Other Types of Coverage Required by Land Surveying Companies

While general liability insurance is the most crucial, there are various different types of coverage to be aware of. Other forms of insurance that all land surveying firms should have are as follows:

Insurance for Commercial Vehicles

If you or a team member is involved in a vehicle accident while doing business-related activities, commercial auto insurance will cover the expense of repairing or replacing damaged property. Medical expenditures, liability claims, and lost equipment will also be covered. To safeguard your surveying firm from financial loss as a result of this claim, business owners should consider obtaining limits that are greater than the state-mandated minimum.

Depending on the provider, commercial vehicle insurance may be purchased as a separate policy or as part of a business owner’s policy (BOP).

Insurance for Commercial Property

You should obtain commercial property insurance whether you own or rent the building where your firm is located. When a loss happens, such as a fire, theft, or windstorm, this coverage will pay to restore or replace business-owned property. Owners should evaluate coverage limitations as well as the cost of replacing everything in the event of a complete loss.

Commercial property insurance may be purchased as part of a company owner’s coverage (BOP).

Insurance for Inland Waterways

Business instruments are often utilised outside from the company’s facilities in this industry, leaving you uninsured or underinsured if a loss happens. An inland marine coverage will cover damages incurred while in transit or on the customer’s premises. This may supplement the coverage provided by a conventional business property insurance policy.

Coverage Options for Some Land Surveying Companies

In addition to the policies listed above, your land surveying firm may need other forms of coverage based on particular elements of your activities. Some of them may not apply to you, so be sure to ask your agent whether policies are appropriate for your company.

Insurance for Professional Liability

If a client files a lawsuit against your organisation claiming injury as a result of your professional carelessness, regardless of the merits of the allegation, they may sue you for damages. This policy, commonly known as Errors and Omissions (E & O) insurance, covers legal expenses and awarded damages up to the policy limits.

Insurance for Workers’ Compensation

Workers compensation protects your company’s most valuable asset: its workers. This state-mandated insurance coverage pays for workers’ medical expenditures if they are injured or get unwell on the job. If the damage is severe and the person is unable to work, it will pay them for a portion of their missed earnings. It would pay the company owner’s legal bills in the case of a lawsuit.

Workers compensation insurance may be purchased separately.

Additional Security Measures for Your Company

Although investing in company insurance is simple (and necessary), it should not be your first line of defence. Yes, insurance will reimburse your company for cash losses incurred as a result of an occurrence, but it is much preferable to avoid losses altogether.

With this in mind, here are a few steps you can take to better secure your company:

Make use of legally binding contracts and other business agreements. (We provide free templates for several of the most often used legal forms.)

To safeguard your personal assets, form a limited liability company (LLC) or a corporation. (To discover how to incorporate an LLC or company in your state, see our step-by-step tutorials.)

Keep your company licences up to date.

Streamline the internal procedures of your company. This will eliminate unneeded variables from routine activities and establish a secure, consistent environment in which to do business.

If your company is an LLC, you should check into LLC insurance.