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Professional indemnity insurance
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What is professional indemnity insurance?
Professional indemnity insurance (sometimes referred to as PI insurance) protects you if you or your business makes a mistake that costs your clients money.
It is a type of business insurance which covers legal fees and compensation costs for incidents such as:
Professional negligence
Defamation
Breach of confidence
Breach of copyright
Loss of documents
Who needs PI insurance?
Any business or professional that provides advice or specialist services to clients can benefit from professional indemnity insurance. It’s particularly worthwhile for:
accountants
consultants
surveyors
engineers
medical professionals
Most professionals and small businesses who give advice can benefit from taking out a policy.
Why is professional indemnity insurance important?
PI insurance saves money and protects reputations by avoiding public proceedings.
Protects your business
Professional indemnity insurance protects your business from financial losses resulting from lawsuits as a result of negligence or malpractice.
Increases your client base
Professional indemnity insurance increases your reach, as some individuals or businesses won’t work with contractors who don’t have it in place.
Protects your reputation
Professional indemnity insurance aids your credibility and can help protect your reputation in the event of a claim against you.
Peace of mind
Professional indemnity insurance gives you peace of mind that you're protected if a claim is made against you.
Case study
An IT consultant hired to upgrade a company’s servers accidentally deletes a significant amount of customer data. The client then sues for lost revenue.
Without professional indemnity insurance, the consultant is liable for all legal costs and claims. But with professional indemnity insurance, the insurer would cover these costs, or even pay to settle the case out of court.
Do I need professional indemnity insurance?
💡Top tip: Professional indemnity insurance is particularly important if you’re a freelancer, sole-trader, contractor, or otherwise self-employed because you are personally responsible for your own work. There’s no employer to absorb the risk or cover you with their insurance — if something goes wrong, it’s all on you.
Professional indemnity insurance is not a legal requirement. However, some clients may insist you hold this cover, and it may be mandated by certain professional bodies.
Even when PI insurance isn’t required or mandated, it can give you useful financial protection if you:
Offer a professional service
Give advice to clients
Have access to client data
Have access to copyrighted material
Give advice that could cause damage to a client’s property
Professional indemnity insurance is particularly important in fields like accounting, law, and engineering, even if you're self-employed. Without it, you’re at risk of financial loss and reputational damage if a claim is made against you.
Healthcare
Doctors and nurses could be held accountable if a misdiagnosis or prescription error leads to patient harm
Aestheticians could be sued if a cosmetic procedure goes wrong — for example if a mistake during a botox injection causes an unsatisfactory result
Counsellors or therapists could be sued for emotional harm, breach of confidentiality, or failing to protect a client’s data
Finance
Accountants who make mistakes that lead to financial loss for their client could be sued
Financial advisors can face claims if their advice leads to a significant financial loss
Mortgage brokers might be held accountable if they recommend unsuitable products or fail to explain a product accurately
Legal
Solicitors who give incorrect advice may be sued by their clients
Conveyances may be held responsible for financial loss if they make a mistake in searches or property transfer
Barristers can be sued if a client believes that negligent advice led to a lost case or unsuccessful prosecution
Construction, engineering, and design
Architects who miscalculate a design can be held financially responsible for correcting the problem
Engineers can be sued if a design error leads to an issue with a building
Interior designers may be liable if their work leads to a safety issue or if a client is unhappy with the services provided
Technology
An IT consultant could be sued by a client if their work resulted in data breaches or security errors
Website designers can be held responsible if a site they design has errors that lead to the client losing business or that damage a client’s branding
Creative
Graphic designers can face claims if their designs are not fit for purpose
Photographers can be sued by a client if they miss an event or provide poor-quality deliverables
Journalists might face claims if information they publish harms someone’s reputation or causes them financial loss
Business and management
Management consultants may be held responsible if advice they provide causes financial loss
What does professional indemnity insurance cover?
What’s covered by professional indemnity insurance will depend on the policy. But there are some common things that are usually covered.
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Usually covered
Professional negligence: Incorrect advice and mistakes that cause financial or reputational damage.
Defamation: Making or supporting false statements that cause a client reputational damage.
Breach of confidence: Sharing sensitive information without permission or mishandling client data.
Breach of copyright: Infringing on a client’s intellectual property or causing them to infringe on other people’s IP.
Loss or damage to a client property: Including equipment, documents, and data.
Employee mistakes: If your staff unintentionally cause a loss for your client.
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Usually not covered
Harm to your employees: You need employers’ liability insurance for this.
Harm to members of the public: You'd need public liability insurance for this.
Work carried out before the policy was in place: Only covered if you take out a retroactive policy).
What are common professional indemnity insurance claims?
There are many times that professional indemnity insurance might come in handy in your working life. Some situations where different people might claim include:
An architect draws up faulty plans leading to a sagging roof and water damage. The client sues for structural repairs.
An accountant files a corporate tax return late and the client receives a fine and interest charges. The client sues for losses due to negligence.
An aesthetician injects dermal filler in the wrong site and the patient sues for breach of care.
A therapist shares a client’s information without their consent. The client files a lawsuit for emotional harm.
A software developer’s work leads to a security breach, resulting in financial loss to the client. The client then claims for the cost of the breach.
How much does professional indemnity insurance cost?
Professional indemnity insurance costs vary depending on factors like your profession, business size, turnover, and claims history. Your chosen indemnity limit also affects the price, so premiums can range widely based on the level of risk associated with the services you provide.
What's the cheapest price I could pay?
£70
.38^ a year
Profession | Average yearly policy cost |
|---|---|
Accountants | £87.86^ |
Consultants | £111.03^ |
How do I compare professional indemnity insurance?
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Compare business insurance quotes from 14 leading UK insurers
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Why compare deals with MoneySuperMarket?
At MoneySuperMarket, we’re dedicated to helping people find the best deals for their needs. We make it easy to compare professional indemnity insurance deals from leading UK providers, helping save money on your premiums.
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Our expert says…
With over a quarter of UK insurance claims related to professional indemnity, it’s one of the most crucial insurance policies for business owners to consider - especially for those that offer advice or services, like solicitors and financial advisors. Professional indemnity insurance offers protection against claims of negligence, errors or omissions that can result in significant losses.
This means with the right cover in place, you’ll be able to focus on serving your customers and carrying out your day-to-day tasks.
Jake Edmonds Travel & Commercial Insurance Expert
What other types of business insurance might I need?
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Employers' liability
Employers’ liability insurance protects you if your staff become ill or injured at work.
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Public liability
Public liability insurance protects you if your work harms members of the public.
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Business contents
Business contents insurance protects equipment, including in home offices.
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Business buildings
Commercial building insurance protects offices and workplace buildings.
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Business interruption
Business interruption insurance protects against disruption from events like fires.
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Income protection
Income protection insurance pays out for accidents, illness and unemployment.
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Cyber cover
Cyber insurance protects against losses from scams and ransomware attacks.
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Key person
Key person insurance offers compensation if a key employee becomes unable to work.
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Legal expenses
Legal expenses insurance covers legal fees and offers legal and tax support services.
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Is professional indemnity insurance a legal requirement in the UK?
No, professional indemnity insurance isn’t a legal requirement for most UK businesses. However, it’s strongly recommended for anyone providing professional advice or services, as it can protect you from costly client claims.
It’s also worth checking your client contracts and any relevant industry or regulatory standards, as some professions and organisations require PI cover as part of their terms.
What is professional indemnity insurance for?
This type of insurance is to safeguard professionals from lawsuits arising from errors in their work, like providing incorrect advice or failing to meet professional standards. It can include legal fees, compensation payouts to clients, and expert witness costs if a claim is made against the professional.
What happens if I don't have professional indemnity insurance?
If you don't have professional indemnity insurance, you could face significant legal fees, compensation costs, and lost income. You could also damage your business's reputation.
Do I need professional indemnity insurance if I work from home?
Regardless of whether you work from home or at a workplace, professional indemnity insurance is recommended if your business provide professional advice or services because it provides financial protection against expensive compensation claims from clients.
How much professional indemnity insurance do I need?
Some clients and professional bodies specify a minimum level of professional indemnity cover, so it’s important to check any contract requirements or regulatory standards first. Beyond that, the right limit depends on the nature of your work.
Think about the size of potential claims, the value of your contracts, and the financial impact of a worst-case scenario. It’s usually safer to avoid underestimating how much a mistake could cost, and many sectors offer guidance to help you choose an appropriate level of cover.
Is professional indemnity insurance tax deductible?
Yes, professional indemnity insurance is tax deductible as it can be classed as an ‘allowable expense’.
What makes indemnity insurance different to public liability insurance?
The main difference is that public liability insurance covers claims from members of the public, while professional indemnity insurance covers claims from clients.
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One of the best ways to get the lowest prices and best deals is to compare quotes from different companies. We do the work for you, comparing quotes side-by-side and giving you all the information you need so you can choose the right deal for your needs and your wallet.
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No, at this time business insurance is not an eligible product for unlocking our SuperSaveClub rewards. It is also not included in our Price Promise.
Who are Simply Business?
Simply Business is one of the largest insurance brokers in the UK. They work with leading and specialist insurers to provide cover for small business owners, landlords and self-employed workers.
MoneySuperMarket has a commercial partnership with Simply Business. They offer various business and landlord insurance policies from different insurers through our platform, allowing our customers to find affordable quotes and policies that suit your specific needs.
Reviewed on 12 Dec 2025 by
According to Simply Business data, 10% of customers paid £5.87 or less monthly for a professional indemnity insurance policy with Simply Business. Figure based on annual quotes purchased between 1st October- 31st December 2024.
Simply Business is one of the UK's leading providers of business insurance, serving 1 million customers across 1,500 trades.
According to Simply Business data, Accountants on average paid £87.86 annually for a professional indemnity insurance policy with Simply Business. Figure based on annual quotes purchased between 1st October- 31st December 2024.
According to Simply Business data, Consultants on average paid £111.03 annually for a professional indemnity insurance policy with Simply Business. Figure based on annual quotes purchased between 1st October- 31st December 2024.
According to Simply Business data, 10% of customers paid £70.38 or less annually for professional indemnity insurance policy with Simply Business. Figure based on annual quotes purchased between 1st October- 31st December 2024.