Protect Your Business with Professional Indemnity Insurance
Up to £10m of cover
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Tailored cover for your business
How PI Insurance Can Benefit Your Business
Protect your business with £100,000 upwards in professional indemnity insurance, ensuring comprehensive cover.
Robust PII protects your business against defence costs, expert counsel fees, and compensation claims up to specified limits.
PI Insurance can be customised to suit the unique needs of your business, no matter how big or small.
Wave goodbye to the burden of excess costs. Our partners offer affordable cover to reimburse your policy excess in the case of a claim.
Bundle your PII policy with employers’ liability insurance and other options to protect your team and company from the unforeseeable.
Explore customised add-ons that cater to your specific needs with the option of manageable monthly instalments.
Even if your needs don't fit the typical criteria, we're dedicated to finding the right Professional Indemnity Insurance for you.
Over £100,000 of cover from our Professional Indemnity Insurance partners.
Full cover for your business and competitive deals from market-leading insurers.
Take advantage of specialised extras and manageable payment options.
PI Insurance is crucial for businesses that provide professional advice or services to their clients. It protects against external claims of negligence, errors or omissions from your advice.
Professional Indemnity Insurance is tailored for businesses offering professional advice or services. It safeguards you against potential negligence claims from clients, and it's essential if you provide advice or handle sensitive data.
If your business offers products or services, customers may decide to claim against you due to errors or negligence. In such cases, PII protects your business, helping cover the costs resulting from legal proceedings.
Professional Indemnity Insurance covers third-party financial losses due to negligence, errors or omissions on the part of your business. Varying levels of cover are available, including:
Defamation: Supporting or making defamatory statements.
Breach of Confidence: Sharing sensitive information without consent.
Breach of Copyright: Infringing on copyrights, intellectual property or trademarks.
Damage or Loss of Documents: Damaging or losing essential client files.
Employee Cover: A malicious act by an employee of yours causing damage to the client.
Court Attendance: Costs of attending court concerning a negligence claim against your business.
Advertising: Making unsubstantiated business statements.
Any business offering professional advice or services, such as consultants, solicitors, architects, advisors, accountants and designers, should consider Professional Indemnity Insurance. While not legally required, it does provide peace of mind and comprehensive protection against claims.
However, some regulatory bodies mandate PI insurance, and individuals must arrange their own cover in some industries. For example, NHS doctors must arrange individual Professional Indemnity Insurance policies.
Any company providing professional services can face claims, leading to substantial costs and severe disruption, even if the claim is unsubstantiated. Of course, we’re all human. Mistakes can happen. For this reason, securing adequate PII cover is advisable to avoid becoming saddled with a financial burden.
Most insurers offer Professional Indemnity cover ranging from £50,000 to £5 million. The amount your business requires will depend on your profession, contracts, project values and professional bodies in your sector.
Certain professions, like engineers and accountants, need tailored policies. Consider the value of your services and check business contracts for any minimum cover stipulations.
It’s worth noting that PII can also cover defence costs, solicitor fees, expert counsel and court fees. Regulatory bodies can provide further guidance if you're unsure about the necessary cover for your industry.
Your PI Insurance premium depends on multiple factors unique to your business. Larger firms may face higher premiums due to the greater risk of claims and higher value of reputational and financial losses.
The nature of your work also impacts the size of the PII premium, with high-risk industries likely facing higher costs. Our team is ready to help you find the best Professional Indemnity Insurance policy for the right price.
Once you've completed our simple online form, BusinessComparison can help you find the right Professional Indemnity Insurance cover at the right price from industry-leading partners.
We offer cover up to £5 million with optional add-ons like excess protection. Simply provide your key business details, such as your industry and length of time trading. PI Insurance costs vary based on many factors, but our service ensures you get the best quote possible.
Our team can work with you to build a bespoke insurance package to meet the needs of your business operations. Our knowledgeable team is ready to assist you with any questions you may have about your PII cover.
When selecting a Professional Indemnity Insurance provider, consider the insurer's reputation and experience in providing PI cover tailored to your industry. Evaluate the range and comprehensiveness of the cover options, ensuring they meet your business needs.
You should also assess customer service quality, as responsive support is crucial to managing claims effectively. Compare premiums across insurers to find a balance between affordability and cover sufficiency.
To make a PII claim:
Notify your insurer of the incident promptly.
Gather relevant documentation to support your claim.
Follow the insurer's claims process and provide detailed information.
Cooperate with the insurer throughout the process.
Yes, some insurers offer retroactive Professional Indemnity cover. Check if your current policy includes a retroactive date for claims arising from past work.
Consider ‘Tail Insurance’ or ‘ERP Insurance' (extended reporting periods insurance) to report claims even after the policy has expired, subject to your policy’s terms. Review your PI policy to understand cover limits and any exclusions related to past work.
Yes, insurers can cancel policies in some circumstances. Non-payment of premiums or misrepresentation of crucial information can invalidate your PII cover.
Insurers may also cancel Professional Indemnity Insurance policies based on changes in underwriting criteria or business decisions, providing they give you sufficient notice and potentially refund your premium.
Maintaining continuous cover or arranging for ‘ERP Insurance' (extended reporting periods insurance) can help mitigate gaps in your cover due to cancellation. These steps help ensure you effectively manage your Professional Indemnity Insurance, protecting your business from potential liabilities.
When comparing Professional Indemnity Insurance with BusinessComparison, you'll enjoy:
Competitive premiums
Exclusive deals
Comparison of top insurers
Access to some of the cheapest deals
The option of monthly instalments
Cover options up to £5 million
We understand your need for a straightforward comparison of the best PI insurance options available. You can secure your PII policy online once you have received a competitive quote tailored to your business’s needs. For flexibility, we offer options for monthly instalment payments if you decide against paying the entire premium upfront.
Whether you require Professional Indemnity Insurance for a small business or a much bigger company, we offer various cover options for companies of all trades and sizes.
