Professional Indemnity Insurance

Contents

  1. Professional Indemnity Insurance
  2. What is Professional Indemnity Insurance?
  3. Who Needs Professional Indemnity Cover?
  4. How Much Does Professional Indemnity Insurance Cost?
  5. Examples Of Where PI Cover May Help

The cost of cover is dictated by the potential impact of a mistake. That means the quote you receive will be closely based on the fees that you charge and the kind of work you do.

So even within professions, there is likely to be considerable variation. For example, a property surveyor who works mainly with individual homeowners is unlikely to need to indemnify themselves for sums as large as those who work with large commercial clients.

If you've been working in a profession for some time without insurance and decide to take up professional indemnity, you can expect to pay a higher premium to begin with. This will reflect the length of time that you have been unprotected from claims of negligence, which represents a higher risk for your insurer to take on.

Business insurance is issued by Royal & Sun Alliance Insurance plc, which is authorised and regulated by the Financial Services Authority (Reg No. 202323). All offers subject to availability. For your protection, telephone calls may be recorded or monitored. Discounts based on prices available for like-for-like RSA policies.