Property and General Liability

The ACEC BIT Program offers a special Business Owner’s Package for property and general liability exposures for engineering firms. Features of The Hartford Package include enhanced coverages that engineering firms need to protect against common industry risks and comply with typical client requests.

Features of this insurance product

Billable Hours calculations for Business Interruption claims

No special exclusions for residential construction, condominiums, third-party action over claims

Improved language for covering joint ventures

No special exclusions for explosion, collapse, or underground construction

Standard pre-loss waiver of subrogation

Increased Property coverage for Valuable Papers, Accounts Receivable, Computers and Media, Models

Consulting Engineers Property Blanket Coverage with replacement cost value

Unique and ACEC-exclusive Property Forms

Greyling can individually broker coverage for firms that do no fit in The Hartford Program

Deductible Assistance Program

An added benefit of the ACEC BIT Program is the exclusive ACEC BIT Deductible Assistance Program provided by the Trustees of the ACEC BIT. The Deductible Assistance Program offers qualifying firms the opportunity to defray all or a portion of the firm’s deductible responsibility for property and automobile damage claims. After your claim is processed by The Hartford, you can request reimbursement of up to $1,000 per claim and $10,000 aggregate for your deductible by completing the form here.

Did you know?

As a business owner, you probably wear many hats each day, leaving little time to think about your insurance coverage and how changes in your business over the past year may impact the type and amount of insurance coverage needed to protect it. It’s a good idea to review your insurance needs annually, so please take a few moments to review the questions below.

General Business

  • Has the name of your business changed?
  • Have you restructured your company’s ownership or added any DBAs?
  • Has your business changed owners, partners or officers?
  • Has the nature of your business operations changed?
  • Have you changed or expanded the types of services you offer?
  • Have you added new locations, expanded into new states or outside of the United States?
  • Have you closed or moved any locations?
  • Has the mailing address of your business changed?
  • Has the physical location of your business changed or have you expanded or remodeled your office space?

Business Property

  • Do you own the building your business is located in?
  • Have you taken any steps to protect your building? This includes the installation of alarm or security systems, fire suppression systems and/or surveillance equipment.
  • Has it been longer than 12 months since you reviewed what it would cost to replace your building?
  • Has it been longer than 12 months since you reviewed the amount of insurance provided for your business personal property? Keep in mind that inflation can impact the value of personal property.
  • Have you entered into any new purchase or lease agreements for your business property?

Business Liability

  • Has there been any increase/decrease in your company’s payroll or sales?
  • Have you entered into any new customer contracts?

Answers to these questions will help to identify whether your existing business insurance coverage is appropriate or if changes are necessary when applying for coverage or speaking with a licensed insurance agent.