Compare Professional Indemnity Insurance
What is Professional Indemnity Insurance?
For many business owners who provide services to clients, professional indemnity is needed to help protect the business from different claims made by dissatisfied clients. When your customers report errors or mistakes in the service rendered, the next step is that they file for a compensation. On many occasions, you might not be able to afford a lawsuit or court case so it’s best you compare professional indemnity premiums to help assuage the situation.
You might ask “but I didn’t even do any wrong, why should I be liable?” well, that is the beauty of justice. Sometimes, the innocent ones are the victims of circumstance. Even if you eventually win the case, the amount you must’ve spent on it is not worth it. To avoid this, compare professional indemnity insurance quotes now and get the best cover for your business.
What Level of Professional Indemnity Insurance Cover Do I Need?
When you compare professional indemnity insurance quotes, you need to indicate the level of cover you require. When you fill our survey here, you will have an idea of which quote you need. Typically, it ranges between £50,000 and £5,000,000.
How Does Professional Indemnity Cover Work?
To help you understand, here is an example. If a builder screws up a building project and the mistake is only discovered after the completion of the project, this will have consequences. The owner of the building will want a refund or compensation for the cost of rebuilding the project. The client might even press for indirect costs such as time. Whatever the case, the builder is in a dicey situation.
This is where professional indemnity insurance comes to play. With this cover, your legal fees and compensation for any loss our negligence or ignorance costs your client is accounted for. If you get cheap professional indemnity insurance cover online, you do not have to spend a fortune on these.
Are you an accountant? Financial Adviser? Business Consultant? Then you should get these professional indemnity insurance quotes on our website. The same applies to engineers, IT consultants, architects, builders, etc. Compare professional indemnity insurance cover now and protect your business.
Other mistakes like infraction of duty, giving wrong/bad/illegal/unethical advice, negligence, are all covered under professional indemnity insurance policies. If you also happen to infringe on your client’s copyright-protected content intentionally or unintentionally, this cover safeguards your security.
Mistakes like a breach of confidentiality, loss of documents, compromise of data, defamation, libel, slander, etc. are quite rampant, and there is provision when you compare professional indemnity insurance quotes.