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PROFESSIONAL INDEMNITY INSURANCE

Compare cheap professional indemnity insurance

  • Compare quotes for less than £5.87[1]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. a month

  • Protect yourself from client compensation claims

  • In partnership with Simply Business, one of the UK's largest providers

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Compare business insurance quotes from 14[2]Accurate as of July 2024 leading UK insurers

Comparing deals makes it easy to find the right cover and price for your needs, helping you save money.

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What is professional indemnity insurance?

Professional indemnity 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

Do I need professional indemnity insurance?

Professional indemnity insurance is not a legal requirement. However, some clients may insist you hold this cover.

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

Why is professional indemnity insurance important?

Everyone makes mistakes. It is a business risk that is almost impossible to completely guard against.

But if your error damages your client's finances or reputation, they may want compensation. It is worth thinking about how an expensive compensation claim could impact your business. Would it cause substantial financial difficulties? Professional indemnity insurance could be a way to protect yourself.

Which jobs could benefit from professional indemnity insurance?

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    Consultants

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    Tradespeople

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    Accountants

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    Engineers

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    Website designers

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    Software developers

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    Healthcare workers

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    Solicitors

  • Plus

    Many more

What does professional indemnity insurance cover?

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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 clients reputational damage

    • Breach of confidence – sharing sensitive information without permission or mishandling client data

    • Breach of copyright – infringing on 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

  • Cross

    Usually not covered

How much does professional indemnity insurance cost?

The majority of our customers pay no more than £86.96[3]According to Simply Business data, 51% of customers paid £86.96 or less annually for professional indemnity insurance policy with Simply Business. Figure based on annual quotes purchased between 1st October- 31st December 2024. a year for professional indemnity insurance when they pay annually.

You may pay more or less than this depending on:

  • Your business size

  • The sector you work in

  • What cover level (maximum payout) you want

  • Your past claims history

  • Whether you pay annually or monthly. It is generally cheaper to pay in one go.

Comparing quotes helps you find the best deal for the coverage you need.

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 Insurance Expert

How to compare professional indemnity insurance deals

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    Tell us about your business

    Let us know about your business, what it does, and how much cover you need

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    We browse the market

    We compare quotes from some of the UK’s leading insurers and show you your options

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    Choose the best deal for you

    Once you've found a good deal, click through to the provider to finalise your purchase

What other types of business insurance might I need?

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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    Policies for consultants, contractors, and freelancers

    Whatever your line of work, we’ve got you covered

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    Find affordable cover in minutes

    Just answer a few simple questions and you’re on your way

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    It’s easy and totally free

    We’ll never charge you for our services – the deal you see is the deal you get

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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.

Some clients and professional bodies will require you to have a specific minimum amount of professional indemnity insurance cover.

Otherwise, how much cover you need depends on the specifics of your work and how much risk you are willing to take on.

Yes, professional indemnity insurance is tax deductible as it can be classed as an ‘allowable expense’.

Popular types of business insurance include:

Comparing business insurance deals with MoneySuperMarket (in partnership with Simply Business) is the easiest way to find a cheaper quote for your company. Just give us a few details about your business and employees and we’ll show you a list of quotes tailored to your requirements.

You’ll be able to compare deals by their overall cost, the cover you’ll get and any extra policies you want to add to your overall business insurance. Once you’ve found the policy you want, just click through to the provider to finalise your purchase. 

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So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.

MoneySuperMarket are partnered with Simply Business to offer you business insurance policies. Simply Business are one the the UK's largest business insurance brokers, authorised and regulated by Financial Conduct Authority. They specialise in protection policies for small and new businesses and work with an extensive panel of providers to help small business owners find tailored policies for good value.