Tell us about your business
Let us know about your business, what it does, and how much cover you need
Compare quotes for less than £5.87[1] a month
Protect yourself from client compensation claims
In partnership with Simply Business, one of the UK's largest providers
Comparing deals makes it easy to find the right cover and price for your needs, helping you save money.
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
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
Professional indemnity insurance is crucial because it protects your business from financial losses resulting from lawsuits as a result of negligence or malpractice.
It's particularly important to get PI if you operate in the following industries:
Consultants & advisors: Risk of giving incorrect advice (e.g., management, IT, or financial)
Healthcare professionals: Using the wrong products or performing beauty treatments on clients that result in injury and damage
Architects & engineers: Design flaws, miscalculations, or project delays
Lawyers & accountants: Errors in legal or financial services
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
Harm to your employees (you need employers’ liability insurance)
Harm to members of the public (you'd need public liability insurance)
Work carried out before the policy was in place (unless you take out a retroactive policy)
Comparing quotes helps you find the best deal for the coverage you need and cost will depend on varying factors, such as the size of your business and what industry you're in.
According to our 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.
Profession | Average policy cost |
|---|---|
Accountants | £87.86[4] |
Consultants | £111.03[5] |
The main difference is that public liability insurance covers claims from members of the public, while professional indemnity insurance covers claims from clients.
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.
Examples of professional indemnity include:
Negligence: Failing to deliver the service you promised to your client
Breach of confidentiality: Sharing someone's private information without their permission
Intellectual property infringement: Using someone else's work without their permission
Defamation: Making damaging statements about a client on social media
Examples of professional indemnity claims:
A business consultant accidentally forwards a client's sensitive information to the wrong person
An IT consultant specifies the wrong network cabling, causing extra costs for the client
A graphic designer uses stock photography without permission
A marketing agency prints brochures for a client with the wrong contact details
An architect's design leads to poor acoustics in a concert hall
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.
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
Let us know about your business, what it does, and how much cover you need
We compare quotes from some of the UK’s leading insurers and show you your options
Once you've found a good deal, click through to the provider to finalise your purchase
Employers’ liability insurance is legally required if you have anybody working for you. It covers the costs if they become ill or injured because of their job.
Public liability insurance covers incidents where members of the public are injured, or their property damaged, because of your business activities.
Business interruption insurance protects against disruption from events like fires.
Product liability insurance covers costs if a person or their property is harmed by a product you supplied them, even if you didn’t manufacture it.
Commercial contents insurance covers costs if equipment is stolen, damaged or lost. Commercial buildings insurance is for damage to physical structures.
Tool insurance covers costs if your tools are stolen, damaged, or lost.
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.
Whatever your line of work, we’ve got you covered
Just answer a few simple questions and you’re on your way
We’ll never charge you for our services – the deal you see is the deal you get
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
No, it is not a legal requirement for most businesses.
However, it's highly recommended for businesses that provide professional advice or services because it provides financial protection against expensive compensation claims from clients.
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:
Employers’ liability insurance covers the costs if staff members become ill or injured because of their job. It is legally required if you have anybody working for you.
Product liability insurance covers costs if a person or their property is harmed by a product you supplied them, even if you didn’t manufacture it.
Business interruption insurance provides income supplementation if your operations are disrupted by insurable events like fires.
Tool insurance covers costs if your tools are stolen, damaged, or lost.
Commercial contents insurance covers costs if equipment is stolen, damaged or lost.
Commercial buildings insurance covers damage to physical structures.
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.
MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.
Take control of your credit score by checking and improving it for free with Credit Score
Never overpay again with Energy Monitor, our energy monitoring service
Over 50 ways to Get Money Calm
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.
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.
Accurate as of July 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.
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.