Professional indemnity insurance from under £8 a month

What is professional indemnity insurance?

Professional indemnity insurance covers the costs your business is required to pay if a client accuses you of negligence and makes a claim against you. For example, if the client believes that following your professional advice caused them to lose money or suffer reputational damage.

Professional indemnity insurance covers the costs of correcting the mistakes, settling a claim, and any legal fees that you face when defending your business.

What does professional indemnity insurance cover you for?

Professional indemnity insurance covers you for:

• Breach of professional duty - when you fail to live up to your duty of care, e.g. giving incorrect advice or making a mistake in your work.
• A dishonest, fraudulent or malicious act or omission of any former or present employee. This includes employees lying, stealing or withholding information from your clients as well as revealing confidential information.
• Libel or slander - using or producing written or spoken statements or materials that damage a client’s reputation.
• Unintentional breach of confidentiality - when confidential data or information is accidentally disclosed to a third party without the client's consent, such as sensitive data being accidentally sent to the wrong person.
• Unintentional infringement of intellectual property rights – e.g. accidentally violating intellectual property, copyrights and trademarks, including imitation or passing another’s products or services off as your own.
• Loss of, or damage to, documents - this includes documents that are lost in the post or even stolen while in your care. It also covers the cost of recovering the documents, if this is possible.

What trades do we cover?

Who needs professional indemnity insurance?

Professional indemnity insurance is important if you offer advice or professional services to a client. That means if any of the following apply, you might need cover:

• You give advice to clients regarding professional services or designs 
• You handle sensitive data or software on behalf of a client 
• Your industry or client require you to have professional indemnity cover to operate

Even the most seasoned professional makes mistakes. You could accidentally email confidential information to the wrong contact, release the wrong version of new software or make an error in the design of a new garden. Each of these human errors could leave you open to legal action.

If you run a digital company, you may also want professional indemnity cover to safeguard your business against claims for copyright infringement.

Even if you believe you haven’t done anything wrong, you will still need to pay for the legal costs of defending yourself in court. So having the right cover in place is important.

How much does indemnity insurance cost?

The price of professional indemnity insurance depends on your business and personal circumstances. You can add professional indemnity to your policy by clicking on our online quote finder. Just answer a few questions about your business and we’ll provide you with a rundown of the cover we can offer.

10% of our customers paid £94 for a 12-month professional indemnity policy between January to May 2019, and we offer 0% APR on your monthly direct debit payments in the first year.

This is subject to a credit agreement, and you must be aged 18 or over.