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Professional indemnity insurance

Fast and flexible monthly cover from £7.58 a month
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What is professional indemnity insurance?

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When you deal with clients they may make important business decisions based on the advice or data, which you give them. 

Professional indemnity (PI) insurance protects your businesses if a client sues for losses they claim you were responsible for due to error or negligence . 

Professional services can include:

  • Design work

  • Advice or consultations 

  • Accountancy and financial advice

  • Marketing and graphic design

  • Engineering

  • Surveyors

  • Healthcare workers

You might not think that you need professional indemnity insurance, but a wide range of service companies are potentially at risk.

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What does professional indemnity insurance cover?

PI insurance covers potential legal and compensation costs you might incur if a third party sues you for losses sustained after using your professional services. The types of risks covered could include: 

  • Breach of contract

  • Professional negligence 

  • Design errors

  • Intellectual property and trademark disputes

  • Plagiarism

  • Defamation

With PI insurance you can buy cover up to £10 million for legal fees or compensation costs. Bear in mind that even if the claim against you is unsuccessful, you’ll probably incur legal costs while fighting it.

What our customers say

Do I need professional indemnity insurance?


PI insurance isn't compulsory. But that doesn’t mean it’s not a necessity. Should a a claim be made against you for malpractice or negligence a PI policy would cover:

  • Your legal defence fees

  • Compensation costs if the claim was successful

Some clients may ask whether you have PI insurance before they will work with you. It can be a requirement before entering into a contract.

If you're a member of a professional or trade body you're also likely to need PI insurance as a condition of membership. Relevant bodies will be able to advise on how much you need.

You should consider PI cover if you have access to confidential client information, you give advice as a consultant or freelancer, or you deal with software or intellectual property.

Professional indemnity insurance costs

The cost of professional indemnity insurance varies depending on factors such as:

  • Your turnover

  • Industry

  • Number of employees 

  • Your business location

Depending on the size, reach and nature of your business you could pay from less than £100 to more than £1,000 a year in PI insurance premiums. 

You can see how much your professional indemnity insurance will cost by starting an online quote – it takes less than 10 minutes.

Getting the right professional indemnity insurance policy

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As professional services vary widely. Find an insurer who specialises in your industry.

A flexible policy can be tailored to your business needs, so that as your company expands, more cover can be added on if necessary.

You may need protection against issues such as:

  • Negligence

  • Data loss

  • Failing to protect client confidentiality

  • Cyber breach

  • Financial loss

You may also be able to get cover for claims around defamation and intellectual property. This is particularly important now that businesses are actively promoting themselves on social media.

When you take out a professional indemnity insurance policy you cover starts from the day your policy begins.

Therefore, you can't buy cover for an event, piece of advice or issue that arose before the insurance policy came into force.

Comparing professional indemnity quotes

When you compare quotes, look at:

  • Does the policy cover everything you need it to? 

  • Can you add to or change the policy as your business changes or expands?

  • How long do you need cover for? 

  • How does the insurer handle claims and how quickly might you receive a payout?

The best PI insurance is not necessarily the cheapest. Instead, you need to find a policy that covers your business needs, and provides sufficient cover to protect you in the event of a claim.

Public Liability

Public liability insurance is a popular type of business insurance. It provides cover for legal and compensation costs in relation to a claim made against a business due to injury or property damage inflicted on a non-employee.

Employers' liability insurance

Employers’ liability (EL) cover is a legal requirement for any UK business that hires employees, including full-time, part-time, contractors or temporary staff.

Professional indemnity insurance

Professional indemnity insurance, or PI insurance, is designed to protect your businesses if a client loses money because of a mistake you made in your professional services.

Travel insurance

Travel insurance is a form of cover to protect you while you are away on holiday or travelling abroad. it can also provide monetary compensation for other loss or inconveniences you may suffer when your travels don't go to plan.

Professional indemnity insurance

Fast and flexible monthly cover
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