Do you provide services involving advice, design, instructions, or specifications in the UK? From construction professionals to IT specialists, all are susceptible to claims from clients alleging financial losses due to negligent services or advice.

Consequently, professionals and companies in the UK face the risk of encountering costly claims that could impede business growth or lead to ruin. Professional indemnity insurance (PII) was created to offer a solution, safeguarding companies from such claims

On this page, we'll demonstrate why investing in professional indemnity insurance (PII) is a wise business decision and why Compariqo stands out as the premier insurance broker for this purpose. Our aim is to help safeguard your company against potential claims from clients.


Get a Quote for Professional Indemnity Insurance in 2 Minutes

Did you know you can get a detailed quote for professional indemnity insurance in just 2 minutes? Thanks to Compariqo, you can easily get the perfect type of PII for your professional needs in record time and online.

All you need to do is to click the link below, fill out the easy application form and Compariqo will send you a full quote in just 2 minutes:

>>> Get Your Professional Indemnity Insurance Quote Now <<<

Remember, the quote is completely free and you can request it at any time of the day. This is why we encourage you to go ahead and request it now, to find out how Compariqo can protect your profession and business.

If you would like to learn more about PII such as its definition, what professions require it, what are the advantages and the type of cover available, below you will find all the information you need.


What is Professional Indemnity Insurance in the UK?

Professional indemnity insurance - PII - is a policy that shields your business from potential financial repercussions stemming from client claims. Should a client suffer losses due to your advice or negligent services, this insurance covers legal expenses, compensation, and related costs.

We can easily infer its purpose based on its name, as it is the most efficient way to protect your business from claims, and this is why several industries and professions require it to run their operations smoothly and without severe financial repercussions.


The Right Type of Insurance for Plenty of Professions and Industries

Essentially, this insurance is tailored for professionals providing advice, design, specifications, or instructions. Architects, advisors, IT professionals, telecommunication companies and construction professionals, among others, should consider obtaining PII as their activities may expose them to claims.

While not legally mandated, most professions and trades stand to benefit from PII. Operating without this policy exposes you or your company to various risks. For example, if a client files a claim against your advice, it could lead to severely damaging the finances of your business.

It’s not uncommon to hear about claims permanently ruining a business, and if you would like to protect you or your company against such a catastrophic scenario, the best way to do it is by getting PII today.


It Is Vital for Small Businesses and Self-employed Professionals

For self-employed professionals and small business owners, getting PII is essential because without it, managing the costs of a substantial claim could damage their business irreparably.

By getting PII from a reputable broker like Compariqo, you will safeguard your business. Their PII policy offers comprehensive coverage for legal fees and defense, handling claims, preventing claims and bringing you all the financial assistance you need if a client decides to file a claim against you.

If you would like to get a free quote to find out how much it will cost you to hire this policy, click the link below:

>>> Get Your Professional Indemnity Insurance Quote Now <<<


Who Needs Professional Indemnity Insurance in the UK?

All professionals and businesses that provide any of the following services need PII: advice, design, specifications, or instructions. Although it might not be required by law in the UK, PII is necessary to protect such professionals and businesses in case a client decides to file a claim against them.

It happens because providing advice, design, specifications, or instructions might lead clients to incur in financial loss, and hence it provides grounds for a client to file a claim against the professional or company that provided them.

For example, let’s suppose you are an architect and you provide a design to a client that ends up being faulty. As a result, it provoked a financial loss for the client, and it provided him with the possibility to file a claim against you, so he decided to proceed with it. If you don’t have PII, you would have to cover the total cost of the legal fees and payments on your own, and this would do irreparable damage to your business.

On the other hand, following the previous example, if you had PII, it would protect you against such expenses. Because this policy is designed to protect you in such a scenario, by covering all the legal fees and related expenses to safeguard your profession and business.

As a result, the following professions and industries can benefit from getting professional indemnity insurance:

  • Healthcare professionals

  • Solicitors

  • Advisors

  • Architects

  • IT contractors

  • Telecommunications management agencies

  • Software developers

  • Advertising and marketing companies

  • Design agencies

  • Construction professionals

  • Engineers

  • Accountants

  • Financial advisors

  • Graphic designers

  • Environmental consultants

  • Surveyors

  • Event planners

  • Management consultants

If you would like to find out if you can benefit from hiring a PII policy, we recommend you to request a FREE quote now, so you can get further assistance from Compariqo:

>>> Get Your Professional Indemnity Insurance Quote Now <<<

Compariqo will process your application instantly and deliver a fully detailed quote in 2 minutes or less. This is why we encourage you to take advantage of this right now, so you can protect your business starting today.


What Are the Advantages of Professional Indemnity Insurance (PII)?

In order to understand why getting PII is a must for several professions and industries, it’s essential to learn about its advantages. Here you have a list with all the benefits you can reap by hiring this policy.


Get Financial Assistance If a Client Files a Claim

The first and most important benefit of getting PII is that you will get financial assistance if a client decides to file a claim against you. It does not matter how much of a financial loss they are claiming, and how expensive the legal process will get as a result, because this policy will be there to bring you the financial assistance you need to safeguard your profession and business.


Safeguard Your Profession and Business

Getting a PII policy will shield your business against unexpected claims. Because you are a professional who provides instructions, advice, design or specifications, you are vulnerable to claims, and the best way to protect your profession and business is by getting this policy, because it will be there to assist you if a claim ever happens.


Operate Your Business with Peace of Mind

Because you know the policy will be there to assist you financially if a client decides to file a claim against you, you will be able to work and run your business with peace of mind. You will have the confidence that the PII will be there to assist you, allowing you to focus on growing your business and delivering an exceptional service to your clients.


Handle Claims Efficiently

Professional indemnity insurance will also include an optimal handling of claims. You will receive the necessary advice and guidance during the process, to make sure your interests are protected and your business shielded against possible financial consequences.


Get the Right Type of Cover For Your Needs

At Compariqo, their goal is to protect you as a professional or your business, and hence they will help you to get the right type of cover to meet all of your needs and goals. Thanks to their hyper-fast online quote system, and their professional customer support service, they will be there to help you choose the ideal type of cover for your professional, business and industry.


Protect Your Business From Claims Before They Ever Happen

Another major advantage of getting PII from Compariqo is that you will get professional assistance and advice on how to prevent claims before they ever happen. Thanks to this unique service, you will save yourself from having to go through the process of handling claims, to keep operating your business with peace of mind.

If you think that getting PII is a solid idea after reading about its benefits, we encourage you to request a free quote now:

>>> Get Your Professional Indemnity Insurance Quote Now <<<


About the Cover of Professional Indemnity Insurance in the UK

It’s important to know what this policy will cover, as well as the elements it won’t cover. The following table will bring you all the details you must be aware of:

Oxford Mail:

As you can see, PII can bring the cover you need to protect you or your company from clients’ claims, and Compariqo can help you find the ideal type of cover for your own needs and goals. To take advantage of this, click the link below to get professional assistance now:

>>> Get Your Professional Indemnity Insurance Quote Now <<<

Remember, it’s 100% free to get professional advice and a quote from Compariqo, hence we encourage you to request it now, to start protecting your profession or business starting today.


Unveiling the Real Cost of Professional Indemnity Insurance in the UK

The real cost of hiring a PII policy for you or your company will depend on the following factors:

  • Industry

  • Years of experience

  • Previous claims

  • Profession

  • Online presence

  • Website

  • Your insurance history

  • Holding more or variable amounts of client money and resources

As you can see, several factors will come into play when it comes to calculating the premiums of your policy. For example, the price for an architect with a solid track, no history of previous claims and several years of experience in the industry will be lower than that of a company that handles variable amounts of client money and has faced several claims in the past.

This is why it’s impossible to bring you a straight answer about the real cost of PII in the UK, as it depends on several factors that must be closely analysed by your insurance broker.

If you would like to find out how much it will cost you to hire this policy, you can get the answer for free at Compariqo by requesting a PII quote now:

The quote process is 100% free and Compariqo will send you a detailed quote in under 2 minutes, so you can see how much you’d have to invest to protect you or your business from potential claims.

 

Professional Indemnity Insurance vs. Public Liability Insurance: Main Differences

Even though some believe both refer to the same type of insurance, in practice they are different as they fulfil unique purposes. Here you will learn the main differences between them, so you can choose the best type of insurance for your professional needs.

As we have seen before, professional indemnity insurance has been designed to bring financial assistance in case a client decides to file a claim against you because your negligent services or advice has led them to incur in financial loss. For example, if you’re an architect and you provide a faulty design that made the client lose money, then PII would bring cover against such a scenario.

Alternatively, public liability insurance focuses on providing cover and financial assistance if an individual decides to file a claim against you or your company due to an injury or damages caused by your business activities. For example, if you have a construction company, and you provoke damages at a client’s property, this policy would cover the costs.

If you want help to select the right type of policy for your business activities, we recommend you to request a free quote from Compariqo:

>>> Get Your Professional Indemnity Insurance Quote Now <<<

After sending your application, Compariqo will send you a fully detailed quote in less than 2 minutes, so you can start protecting you or your company from potential claims starting today.


F.A.Q

If you would like to learn more about professional indemnity insurance in the UK, below you will find the answers to the most frequently asked questions about it.


What is the cost of professional indemnity insurance in the UK?

The final cost of professional indemnity insurance in the UK will depend on your profession, how much cover you need, the needs of your industry, years of experience, amongst others. The best way to find out how much it will cost you is by applying at Compariqo, because you can get a full and detailed quote in just 2 minutes.


Do construction professionals need professional indemnity insurance?

Yes, construction professionals need professional indemnity insurance as it acts as a shield in case a client wants to fill a claim against them. Since they deliver services that involve advice, design, specifications, or instructions, they are vulnerable to claims from clients, and hence PII provides protection against such scenarios.


Do architects need professional indemnity insurance?

Yes, architects need professional indemnity insurance because their services involve providing advice, design, specifications, or instructions, and hence they are exposed to claims from unsatisfied clients. This is why it’s advisable to contract PII, as it provides protection against such legal problems.


Do software developers and IT professionals need professional indemnity insurance?

Yes, software developers and IT professionals need PII because their services include providing advice, design, specifications, or instructions. Therefore, if a client decides to file a claim against them in case the final product or service didn’t work as intended, or made them incur in financial loss, a professional indemnity insurance would cover the costs associated with such a scenario.


Can you buy professional indemnity insurance online?

Yes, you can buy professional indemnity insurance online at Compariqo. All you need to do is to fill out the application form and you will get a full and detailed quote in less than 2 minutes.