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Professional Indemnity Insurance

Compare Quotes On Your Professional Indemnity Insurance

  • Quotes from professional indemnity insurance specialists
  • Cover options for advice, services and professional risks
  • Options available for consultants, contractors and businesses
  • Compare professional indemnity insurance with one quick form
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Why use QuoteSearcher for Professional Indemnity Insurance?

Professional indemnity insurance is designed to provide cover for businesses that offer advice, services, or specialist expertise. When clients rely on your professional judgement, even a small mistake or misunderstanding could lead to a costly claim.

At QuoteSearcher, we work with a panel of brokers experienced in arranging cover for professional indemnity across a wide range of industries. Rather than spending time approaching insurers individually, you can complete a short form on our site and be introduced to brokers experienced in arranging professional indemnity insurance across a range of industries. They’ll outline the cover options available based on the work you do and the level of exposure your business faces.

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Complete one simple form to receive multiple quotes, let us do the leg work for you
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Found the site easy to use, had good feedback from four companies, all very competitive.

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Helpful and efficient service, I was impressed how quickly I received my quotes.

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Very quick responses and completed selection and purchase of a very competitive new policy within 24 hours.

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Very good and easy to use, this has not only saved me money but also saved me a lot of phone calls and time, thank you.

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Excellent service and delivered quicker than the website said. Have bought and will buy much more from here. Prices very competitive and often much cheaper. Yet to find something I want that they don't have.

David McGarry

Thought they were very good there was no need to ring around and I found what I was looking for.

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What Does Professional Indemnity Insurance Cover?

Professional indemnity insurance may provide cover if a client claims they have suffered a financial loss as a result of your professional services. This could arise from an error, omission, breach of duty, or failure to deliver work to the expected standard.

Depending on the insurer, areas of cover may include claims relating to:

  • Professional negligence
  • Unintentional breaches of confidentiality
  • Copyright or intellectual property infringement
  • Defamation or libel
  • Loss of documents, data, money, or client property

The policy could help cover compensation payments as well as associated legal costs, which can be significant even if a claim is ultimately defended.

Optional Policy Extensions

Depending on your profession and insurer, professional indemnity insurance can often be extended to include additional protection, such as:

  • Data protection and cyber-related breaches
  • Breach of confidentiality
  • Business equipment cover
  • Bodily injury arising from a breach of professional duty
  • Dishonesty of employees
  • Court attendance and legal representation costs
  • Public liability insurance
  • Employers’ liability insurance

Your broker can discuss which extensions may be available and applicable to your business.

 

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Who Needs Professional Indemnity Insurance?

Professional indemnity insurance is commonly arranged by businesses that provide advice, consultancy, design, or specialist services. It is commonly arranged by professionals working in areas such as:

  • Business consultancy
  • Accountancy and bookkeeping
  • Architecture and surveying
  • IT consultancy and contracting
  • Creative, marketing, and media services
  • Estate agency and property services

In some industries, professional indemnity insurance is a regulatory requirement or a condition of working with certain clients. In others, it can help manage reputational and financial risks associated with professional services.

Professional indemnity cover can be taken out as a standalone policy or combined with other business insurances to create a broader insurance arrangement, depending on the policies selected.

FREQUENTLY ASKED QUESTIONS ABOUT PROFESSINAL INDEMNITY INSURANCE

    • Why do I need professional indemnity insurance?
      The main reason for having professional indemnity insurance is to protect your business financially in the event that a compensation claim is made against it, and to cover the costs associated with defending such a claim.
    • How much professional indemnity insurance do I need?
      The amount of professional indemnity insurance you need depends entirely on your company’s circumstances and the risks it faces. Cover can be anything from £50,000 to £50 million.
    • Can I cover any previous business activity?
      Yes, this is because professional indemnity insurance cover can include predecessor practices or partners’ liabilities arising out of former partnerships elsewhere.
    • What is contractual liability?
      This can be defined as liability that does not arise by way of negligence, but instead by assumption under contract or agreement. Some PI insurers offer to cover an element of contractual exposure in order to meet certain basic professional needs of the insured party.
    • What will I be covered for with PI insurance?
      Your business will be covered against claims for loss, or damage, made by a client, or third party, if you make mistakes, or are found to have been negligent. PI insurance also covers legal costs.
    • Why is professional indemnity insurance necessary?
      Today society is increasingly compensation-minded, and anyone who has defended a negligence claim will be aware that it can be an extremely stressful experience with very high costs. Insurance against such circumstances is a necessary requirement of professional practice. You can also use it as a great marketing tool to set you apart from your non-professional competitors. For these reasons and many more, professional indemnity insurance is a must have for any professional business or individual.
    • What is contractual liability that is not caused by negligence?
      This is when a professional signs up to a contract which might impose a liability that goes beyond what one would normally expect. Contractual liability that is not caused by negligence is often excluded from professional indemnity insurance policies.
    • How long will it take to arrange cover?
      The application process is done online. This provides a quick and efficient process when applying for professional indemnity insurance, and you will be covered immediately.
    • Is PI insurance compulsory?
      Professional indemnity insurance is not a legal requirement, however, many companies may insist on a contractor or a consultant having PI insurance cover in order to then take up work.
    • What is civil liability?
      Civil liability will cover areas such as breach of contract, libel and slander. Civil liability can be included as part of a professional indemnity insurance policy.
    • Who needs PI insurance?
      Anyone who sells knowledge or skills will require PI insurance. It is important that you invest in a professional indemnity insurance policy in order to make sure that you are protected against a number of unfortunate circumstances that may arise.
    • What is breach of duty?
      A typical PI insurance policy will provide indemnity to the insured party against the loss arising from any claims for breach of duty which may be made and reported to the insurers during the period by reason of any neglect, error or omissions committed in the conduct of the insured professional business.