out west i needed 1million for contract ndt and visual (cwi and api 570, 653)

The dollar amount is typically dictated by your client and if not addressed or required it is a decision you will have to make.  This will become a concern if you aren't incorporated as any liability issues falls entirely on you.  To be honest liability insurance isn't that expensive and I would and did have at least $1MM as was previous stated.  It can be purchased at your same insurance carrier as your home or car without any real difficulty.  The real problem kicks in when you have a client that require Workmans Compensation coverage, now this is where the costs really become taxing as it is based on the amount you make and the type of business you perform.

Hope this helps.

David

I'm incorporated and my General Liability policy is 2 million, and runs $3000 per year. Until around 6 years ago, my GL policy was around $1000 per year. The GL policy covers things like bodily injury, property damage, personal injury that may happen on a job-site.  This coverage is usually mandatory.  The key to getting the best rate is working with your underwriter to make sure you are in the best classification for your services. I have yet to find a carrier that has a category specifically for " non-destructive testing" or "welding inspectors". Each company is different when they try to place you. In 30 years, I have been in 5 or 6 different categories.

Workers Comp / Unemployment Insurance for a corporate officer is around $500 per year, which is very reasonable.  This coverage is  not always mandatory to work for certain clients, but more and more clients requiring it.  I would not be without this coverage.  The cost in my state is based on your wage EXCEPT that corporate officers have a base wage that is fixed. 

It sounds to me like you are talking about Professional Liability such as Errors & Omissions which protects you if something you did was done incorrectly, and that this error cost your client money or caused them harm in some way. This type of insurance may be appropriate for anyone who gives advice, makes educated recommendations etc.  The last time I looked into this, it was VERY expensive.  I think the price was 10,000+ per year, and that was many years ago.

All that said, I have a lengthy disclaimer at the bottom of my reports and in my quality assurance manual.  This disclaimer is also included in any contracts, purchase orders etc:

The information reported appears to be a reasonable sample of the condition of this item, but is not judged to represent the condition of this item with absolute certainty.  Accordingly, XXXXXXX has applied ordinary skill in making the inspections and shall not be held liable for errors or omissions of any kind.  The manufacturer / owner must satisfy itself as to the adequacy and accuracy of the evaluation.  The results reported represent opinions only and are not to be considered as warranties or guaranties of quality.  Nothing herein shall be construed to be a guaranty against loss occasioned by failure of the structure upon which the examination is made.  XXXXXX assumes no responsibility for misinterpretation of indications.

~thirdeye~

PS - I for one would be interested is what others are paying and what categories you are placed in.  Each one has a separate identification number and is sometimes found on your certificate of insurance, but always in your policy.

Well, the corporate officer rate is acceptable but is it actually realistic for an individual conducting inspections?  My insurance carrier wouldn't provide coverage based on my title and you will find that an inspector working in the field will have rates that far exceed those of office personnel.  Additionally, there are limits of coverage and you may be able to trick the carrier into providing coverage based on your title but you may need to read the fine print.  You may find out you're actually not covered as all.