Professional Indemnity Insurance

Compare professional indemnity insurance quotes from the leading UK carriers

 Compare professional indemnity insurance quotes

Get Indemnity

Professional Indemnity

Compare business insurance quotes from the leading insurers

We can compare professional indemnity insurance cover from the wholesale market to ensure you are adequately protected. We can provide a fully advised service to give you the confidence your business insurance will respond when needed. Quotes can start from as little as £332 annually for a limit of £1 million, however premiums can increase into the tens of thousands of pounds.

What is professional indemnity insurance?

Professional indemnity insurance, also known as errors and omissions or PI insurance, is a liability policy that provides businesses and professionals protection from financial losses whilst providing a service or advice. A policy will provide coverage for the legal costs associated with defending claims and provide for damages awarded by the courts.

Do you need professional indemnity insurance?

If you provide advice or a professional service to your clients, in most cases you'll need professional indemnity insurance to cover the liability risks arising from breach of professional duty. If you provide a service to your customers, this will be the most important protection available to your business to guard against compensation claims.

What does professional indemnity insurance cover?

Professional indemnity cover can extend protect against a range of civil liabilities including negligence, breach of professional duty, breach of contract, defamation, breach of privacy, employee dishonesty and intellectual property infringement. Each insurers policy can provide different cover, conditions, extensions and exclusions, so its important you understand what your coverage includes and excludes.
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What to consider when arranging professional indemnity cover?

Many businesses and professional need indemnity insurance as a regulatory requirement or to meet contractual conditions. However, the cover should be considered where advice, professional, or technical services are offered to a client. Professionals need to ensure they have sufficient protection to guard against demands for financial compensation in providing their services. Professional indemnity claims can be costly and time consuming, even if the allegations are without merit.

Small businesses should be aware that contractual conditions can offer valuable protection against civil liabilities, however it should be remembered that damages could be awarded by a court over and above what you have agreed under contract. A written description of services, limitations of liability, and consequential loss exclusions are standard approaches to contract risk management. 

 Why do you need professional indemnity insurance?

Why choose us for your professional indemnity insurance?

There are only a handful of professional indemnity providers that provide their solutions directly to the customer on a B2C basis. The vast majority of insurers will only offer their products through licenced intermediaries. At Get Indemnity we a specialist insurance broker that ensure you achieve value for money and are covered in the event you need to rely on your insurance protection. We work with a wide range of insurers to ensure we provide our clients with the most competitive terms from the market. Please give us a call to dicuss your requirements on 0345 625 0711.

 Contractual PI needs

Contractual needs

Helps clients to have the confidence engaging with your business with the knowledge that you have the correct insurance policies in place.

 Professional body

Professional body

Allows you to meet your regulatory and professional body requirements in offering financial protection when offering advice or a service to your clients.

 Peace of mind

Peace of mind

That legal defence costs and damages are covered for negligence, mistakes, omissions or breaches of client contracts, whilst providing advice or a service.

Compare professional indemnity cover from the leading UK insurers

Professional indemnity coverage can start from £332 annually for a limit of £1 million

Why professional liability insurance is important?

Professional indemnity cover, otherwise known as professional liability, is important for businesses that provide a service to offer protection against the failure to exercise reasonable skill, care and due diligence. Professionals should ensure they have sufficient protection to guard against demands for financial compensation when providing their services. Claims for compensation can be costly and time consuming, even if the allegations are without merit.

Many businesses do not appreciate the need for professional indemnity insurance - this can occur when there is not a legal or regulatory body requirement. It's also important to remember you can be held vicariously liable for the actions of your employees and sub-contractors, which means you could be held responsible even if you wern't directly at fault. Underinsurance is common and that means businesses will face having to pay legal costs  or put the company into insolvency.


How much professional indemnity insurance?

The amount of professional indemnity insurance you decide to take out will be determined by a number a factors, including whether you are required to meet any contractual or regulatory requirements. The second most important determining factors are the size of your business and the size of the contracts you undertake. We ask our clients to consider, if you fail to deliver your services or were negligent, how mow much could your client's lose financially, including consequential and indirect losses? It's then worth considering that defence costs can typically amount to half the damages awarded if the dispute is rebuffed through the courts. 

Compare business insurance with Get Indemnity™

We can guide you through the process of buying business insurance to ensure you achieve value for money. As with any purchase you should consider your options to ensure you purchase the necessary and appropriate cover for your business at a cost-effective premium. Speak to one of our account executives on 0345 625 0711

Discounted PI insurance premiums available to SME's and mid-sized corporations

Talk to one of our professional indemnity experts by booking a video call

How to compare professional indemnity cover?

1. Representation - to access the market you'll need to use an insurance broker, we are experts that can help you decide what type of insurance and level of cover you need, and recommend a suitable policy that meets your needs.

2. Right approach - quotes can be provided on a 'Statement of Fact' basis, or we will ask you to complete a proposal form depending upon the industry you work and the size of your business.

3. Correct disclosures - all statements disclosed, statement of facts, should be full, true and accurate and given after undertaking a reasonable search. Deliberate or reckless failures to present the risk fairly could mean part or all of your claim is declined.

4. Professional definition - all PI insurance policies will refer to a definition of professional service. It's important this definition is broad enough to capture your activities and sufficient information has been disclosed to ensure you are covered.

5. Terms and conditions - cover offered from the market can vary - the triggers of a policy, the insuring clauses, definitions, conditions and exclusions can be different. Unless you are an expert it can be hard to distinguish between the different policies.

6. Rated security - the insurers reputation for paying claims is an important consideration. If you need to reply on your insurance policy, you don't want the uncertainty that cover hasn't been granted to protect your interests.

 How to compare professional indemnity cover from the market?

How much does professional indemnity insurance cost?

Professional indemnity insurance premiums can start from £332 annually for a limit of £1 million. However your insurance costs will be dependant upon a number of different rating factors. It is not unusual for annual premiums to be +£10,000 if you opperate with a higher degree of risk. Understanding the rating factors that influence insurance premium is important to effectively managing your ongoing costs. 

How do insurers calculate your professional indemnity cost?

All the insurers we work with are overseen by the Prudential Regulation Authority and have an AM Best rating of A+.

Frequently asked questions

Can you provide negligence and claim for compensation examples?

1) An architect specifies inadequate materials for a construction project and a client seeks a claim for compensation for £250,000 to rebuild.

2) A software developer accidentally corrupts files on a client’s system and seeks to claim for a financial loss of £700,000.

3) An advertising agency releases on online campaign with incorrect information and the client claims £2,000,000 for damage to reputation.

Is there a difference between a 'negligence' and 'civil liability' policy?

Typically, there are commonly two types of professional indemnity policies available: (1) A 'Professional Negligence' policy which provides cover for breach of professional duty of care by way of negligent act, error or omission - there is no coverage for claims based on breach of contract or statute law; and (2) 'Civil Liability Insurance' policy which does not limit cover as to the nature of the wrongdoing - the cover may include breach of duty of trust, conflicts of interest, breach of statute law and defamation. These may not necessarily arise from negligence and therefore may not be covered under a professional negligence indemnity policy.

What is the difference between public liability insurance and professional indemnity cover?

Both covers will pay legal defence costs and damages to compensate another party, however the circumstances covered by the different policies are different. Public liability insurance, will protect against claims arising from injury or property damage of persons other than your employees in the course of your business activities. Whereas, professional indemnity insurance will help protect your company against the failure to exercise reasonable skill and care when providing a service to a client.


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