Professional indemnity insurance is a type of liability insurance designed to protect both business and individuals who provide advice or expertise to third parties, it's is a must for any company whose clients might suffer financial loss as a result of your advice, services or designs. No matter how well your company operates, mistakes and unforeseen circumstances can happen. It can cover professional negligence, loss of documents or data, unintended breach of confidentiality or copyright, defamation and libel and loss of goods or money which is either yours or for which you are responsible.
Professional Indemnity Insurance can be added to a your policy using our simple online form. Having professional indemnity cover will likely be required as part of any substantial consulting engagement. With professional indemnity insurance in place, your legal defence costs will be covered, along with any compensation you may need to pay to the client if a claim has been made against you. At Tradesman Insurance 4u we do the hard work for you, tailoring your policy to suit your needs so you can concentrate on what matters most, your business.
Get a Quote
A structural engineer who miscalculates the steelwork for a new build can leave the client facing costly remedial work and programme delays. Many main contractors and clients require trades who provide advice, designs or specifications to hold professional indemnity insurance before work starts.
If your trade involves advice, design work, surveys, specifications or professional sign-off, you should seriously consider professional indemnity insurance. It is commonly required on commercial contracts and by trade bodies for roles such as architects, engineers, surveyors and building contractors who provide design input.
Check contract requirements before you start work. If a client suffers financial loss because of an error in your advice or design, they may claim for rectification costs, lost revenue or legal fees — professional indemnity cover is there to respond.
The insurance can also meet the cost of defending a claim, including where a complaint is later found to be unfounded. If a case is lost, cover can pay compensation and legal costs, subject to your policy limit and excess.
This example shows how cover can respond on site:
A kitchen fitter supplies and installs bespoke units from their own drawings. The measurements are wrong and the client must replace damaged worktops and cabinetry. The client claims £35,000 for materials, labour and disruption.
The fitter’s professional indemnity policy meets the compensation and legal costs, less the policy excess shown on the schedule. Limits, excesses and exclusions vary by insurer — always check your wording.
The right limit depends on the contracts you take on and the scale of financial loss a mistake could cause. On our quote form you can select professional indemnity limits from £50,000 up to £5 million.
Main contractors and clients often specify a minimum level of cover in tender documents. Ask about insurance requirements before you sign a contract so you are not underinsured when work starts.
Confirm your chosen limit with us when you complete your quote. Read policy exclusions and check whether legal costs are included in the limit or in addition to it.
We arrange professional indemnity for a wide range of trades — from builders and electricians to engineers, surveyors and specialist contractors who provide advice or design as part of their service.
You’ll need Professional Indemnity Insurance in case a client loses money after they've taken advice from yourself. This may be because of negligence or another cause.
Professional Indemnity Insurance covers legal fees and reimbursement of whatever costs the client has incurred. Judgments often also cover the financial loss the client has suffered beyond the immediate cost of your services.
For businesses that give advice or provide a professional service to clients, professional indemnity insurance is an important type of insurance coverage to have. It protects individuals or companies from compensation claims and legal fees that could arise if a client suffers a financial or professional loss, due to negligence in your work. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These types of things can relate to legal action that would usually not be covered by a more general liability insurance policy, which addresses more direct forms of harm.
