UK Professional Indemnity Insurance Quotes
Professional Indemnity Insurance
Business insurance for professionals, covering claims that your advice, service or design work caused a client a financial loss, including legal defence costs and compensation.
Compare professional indemnity quotes
- Cover limits from £50,000 to £5,000,000
- For consultants, contractors, freelancers and firms
What is professional indemnity insurance?
Professional indemnity insurance protects businesses and freelancers when a client claims that negligent advice, a service or design work caused them a financial or reputational loss. It pays your legal defence costs and any compensation or damages awarded to the client. It covers professional negligence, breach of professional duty and contract, loss of a client's documents or data, breach of confidentiality, infringement of copyright or intellectual property, and defamation arising from the work. Cover is written on a claims-made basis with a retroactive date, so the policy in force when a claim is made responds, and it must be kept in place continuously, even for past work. The limit of indemnity is usually set between £50,000 and £5,000,000 to match the contracts you take on. For consultants, accountants, IT contractors, architects and many other professionals it is the cover clients and regulators expect before awarding work.
Professional indemnity insurance covers a wide range of professions because the risk itself varies so much. An accountant, an IT contractor, a management consultant, a marketing agency and an architect all sit within professional indemnity, but each carries a different underwriting picture. Insurer appetite varies significantly by profession, fee income and claims history, which is why specialist broker placement matters more than a mainstream off-the-shelf quote.
Policies are usually built around the covers each professional needs. Professional negligence, defence costs and damages form the core, then loss of documents, breach of confidentiality and intellectual property claims are added on top. Many firms that meet clients or work on site also hold public liability for injury to a person or damage to their property, but that is separate cover. The exact mix is priced against the real business rather than treating every profession the same way.
Brokers on our panel underwrite professional risks every day. They understand why fee income and the limit of indemnity drive the premium, how the retroactive date and claims history change the price, why the cover must run continuously to protect work you did in the past, and the tighter appetite for higher-risk advice and larger contracts. They price the policy against how you actually work rather than a fixed online figure.
Related professional cover
What professional indemnity insurance covers
If a client says your advice, service or design work caused them a financial or reputational loss, professional indemnity insurance meets the cost of defending the claim and any compensation you owe. Here is what a policy covers.
Professional negligence
Mistakes, errors or wrong advice in your work that cause a client a financial loss.
Legal defence costs and damages
The cost of defending a claim plus any compensation awarded to the client.
Breach of professional duty and contract
Claims that you failed a duty of care or a term of contract in the course of the work.
Loss of documents or data
The cost of restoring documents or data belonging to a client that are lost or damaged.
Breach of confidentiality
Unintentional release of confidential client information arising from your work.
Copyright and IP infringement
Unintentional breach of copyright or intellectual property in what you produce.
Defamation, libel and slander
Claims that something you said or wrote in the course of the work harmed a reputation.
Court attendance costs
Compensation for time spent attending court to defend a covered claim.
Dishonesty of employees
Loss caused by dishonest acts of employees, where the policy offers it.
What professional indemnity insurance does not cover
A professional indemnity policy is built around the profession you declare, the limit of indemnity you choose, the retroactive date and the covers you add. Once a claim falls outside those declared terms, the policy stops paying out. Knowing where the cover ends matters as much as knowing what it includes, particularly because work before the retroactive date, undisclosed claims and known circumstances left off the proposal are among the most common reasons a professional indemnity claim is reduced or declined.
Known claims and prior circumstances
Anything you already knew about before the policy started falls outside it. A claim already made against you, or a circumstance you were aware of that could lead to one, cannot be brought under a new policy. Cover responds to claims that arise fresh during the period, not problems you carried in with you. Declare any known issues at the proposal stage.
Work before the retroactive date
Claims are only met where the work was carried out on or after the retroactive date shown on your policy. Anything you did before that date is not covered, even if the claim itself arrives while the policy is live. The retroactive date should go back to when you first started the relevant work, so keep it in place each time you renew.
Deliberate or dishonest acts
Cover is for genuine mistakes, errors and negligent advice, not for wrongdoing. Deliberate, dishonest or fraudulent acts by the business owner, and any loss you brought about on purpose, fall outside the policy. Criminal penalties imposed on you as an individual are not met either. Insurance answers for honest errors, not intended harm.
Injury and property damage
If a client or member of the public is physically injured, or their property is damaged, that is not a professional indemnity claim. Those losses belong under public liability, which is a separate cover. Professional indemnity responds to financial loss from your advice or professional work, not to bodily injury or physical damage.
Fines, penalties and trading losses
Regulatory fines, civil penalties and punitive damages sit outside a professional indemnity policy. So do your own trading or insolvency losses, such as bad debts, a fall in profit or the cost of redoing work at your own expense. The cover meets a client's loss from your negligence, not the ordinary financial risks of running the business.
Work outside your declared profession
You are covered for the professional activities you declared when you took out the policy. Claims arising from work outside that declared scope, or from a new service you did not tell the insurer about, can be refused. If your work changes or you add a new activity, tell the broker so the cover can be updated to match.
How much is excluded differs widely from one insurer to the next and from one profession to another. Always check the policy wording carefully on the retroactive date, known circumstances, the limit of indemnity and any activity limits before buying. For cover against a client or visitor injured by your work, see our public liability insurance guide.
Professions we cover
Professional indemnity insurance suits any business or freelancer that gives advice or delivers a professional service. These are some of the professions that arrange cover through our specialist broker panel.
Accountants & bookkeepers
Cover for advice on accounts, tax and returns where a client claims a financial loss.
Management & business consultants
Protection for strategy and advice that a client says led to a financial setback.
IT contractors & developers
For code, systems and project work where a defect causes a client a loss.
Architects & surveyors
Cover for drawings, designs and reports that a client relies on and disputes.
Engineers
For technical calculations and specifications where an error is costly.
Financial advisers & IFAs
Regulated advice on investments and planning that a client can challenge.
Marketing, PR & design agencies
Cover for campaigns, copy and creative work, including defamation and IP claims.
Recruitment consultants
For placements and vetting where a client claims your work fell short.
Solicitors & legal services
Cover for legal advice and casework where a client alleges negligence.
Medical & health professionals
For treatment and advice roles where a patient claims professional harm.
Tutors & trainers
Cover for teaching, coaching and course material a client relies on.
Freelancers & contractors
For sole traders whose clients expect proof of cover before awarding work.
Not on the list? Most advisory and professional service trades can be covered. Many regulators and clients, from the FCA and SRA to public-sector contracts, ask for proof of cover before awarding work.
What affects professional indemnity insurance costs
There is no fixed price for professional indemnity insurance. A specialist prices each policy on the work you do and the risk it carries. Six factors move the premium more than any others.
The profession and its risk
What you do sets the base rate. Advice that carries a high financial exposure, such as accountancy or financial planning, is priced above lower-risk work.
Annual fee income and turnover
Cover rates on the fee income your work generates. Higher turnover points to more clients and larger contracts, so the premium rises with it.
The limit of indemnity chosen
The most the policy will pay on a claim, typically from £50,000 up to £5,000,000. A higher limit gives more protection and costs more, so match it to your contracts.
The retroactive date and claims history
A retroactive date reaching back over years of past work widens the exposure. Previous claims, or known circumstances, also load the premium.
Contract size and clients
Large contracts and high-value clients raise the size of a potential claim. The type of clients you work with feeds into how the risk is rated.
Number of staff
More fee-earning people means more advice given and more chances for a claim, so the number of staff who do professional work affects the price.
Because each of these differs by business, professional indemnity insurance is quoted by a specialist rather than sold at a fixed online price. Share your profession, fee income and the limit you need to see figures from the market.
How much does professional indemnity insurance cost?
There is no fixed online price for professional indemnity insurance. What you pay depends on your profession, and a specialist prices it against the risk. The table below shows the main factors that move a professional indemnity premium up or down.
| Factor | Why it matters |
|---|---|
| Profession and its risk | Higher-risk advice and services cost more to cover. |
| Annual fee income | A higher turnover means more exposure to insure. |
| Limit of indemnity | A higher limit of indemnity raises the premium. |
| Retroactive date | Covering more past work adds to the price. |
| Contract size and clients | Larger contracts carry bigger potential claims. |
| Claims history and staff | Past claims and more fee earners raise the price. |
A rough guide: the premium is driven by your profession, your annual fee income and the limit of indemnity you choose, typically between £50,000 and £5,000,000. There is no fixed online price, it is quoted by a specialist against your own work and cover.
How professional indemnity insurance works
Getting covered takes three steps. Tell us about your profession, compare quotes from specialist brokers, then choose your limit and keep the cover running.
Tell us about your profession
Share your profession, your annual fee income or turnover, the limit of indemnity you need and your claims history.
Compare specialist PII quotes
Your details go to brokers who underwrite professional risks. They price by profession, fee income and limit of indemnity.
Choose your limit and stay covered
Pick your limit of indemnity from £50,000 to £5,000,000 and keep cover continuous, because PII works on a claims-made basis.
Claims-made, retroactive date and run-off cover explained
Professional indemnity works differently from most business insurance. It is written on a claims-made basis, tied to a retroactive date, and can be continued as run-off cover after you stop trading. These three ideas decide whether a claim is paid, so they are worth understanding before you buy. Open any section below to see what each one means and when it applies.
Claims-made: the policy in force when the claim is made
Professional indemnity is written on a claims-made basis. The policy that responds is the one in force on the day a claim is made against you, not the one you held when you actually did the work. So a mistake made two years ago is dealt with by this year's policy, provided the cover has been kept in place without a break.
This is why the cover must run continuously. If you let the policy lapse, a claim that arrives afterwards has no policy to answer it, even though you were insured when the work was carried out. See our professional indemnity guide for how claims-made cover is arranged.
Why professional indemnity must run continuously
Because cover is claims-made, keeping it in place year after year is what protects your past work. Every renewal extends the protection to claims that could still arrive from advice or services you gave in earlier years, as long as the work was after your retroactive date.
A gap in cover, even a short one, can leave those earlier jobs unprotected. If you switch insurer, the new policy should carry your original retroactive date across so the history of your work stays covered.
The retroactive date and your past work
The retroactive date sets how far back your cover reaches. A claim is only met if the work behind it was carried out on or after that date. Work done before it is excluded, even if the claim itself lands while your policy is live.
Ideally the retroactive date goes back to when you first started the relevant work, giving you cover for your whole history. When you move insurer, keep the earliest date rather than resetting it to today, or years of past work drop out of cover.
Run-off cover after you stop trading
Claims-made cover ends when the policy ends, but claims about your work can arrive years later. Run-off cover keeps you protected against those late claims after you stop trading, retire or sell the business, for work you did in the past.
It is usually arranged for several years after you close, since a client can bring a claim well after the job was finished. See our professional indemnity guide for how run-off cover is set up.
The limit of indemnity
The limit of indemnity is the most the policy will pay for a claim, or for all claims in the year, depending on how it is set. Limits commonly run from £50,000 up to £5,000,000, and sometimes higher for larger firms.
The right limit is often decided by your contracts: many clients, regulators and public-sector bodies state a minimum figure you must hold before they award work. Choose a limit that meets those requirements and the size of loss a client could suffer.
What professional indemnity covers
The core of the cover is professional negligence: mistakes, errors or wrong advice that cause a client a financial loss. It pays your legal defence costs and any compensation or damages awarded against you.
Most policies also cover breach of professional duty and contract, loss of a client's documents or data, breach of confidentiality, infringement of copyright, and defamation arising from the work. Court attendance costs are usually included too.
Is professional indemnity a legal requirement?
Professional indemnity is not required by law in the way that employers' liability or motor cover is. There is no statute that forces every business to hold it.
In practice, though, it is often compulsory. Regulators and professional bodies such as the FCA, ICAEW, RIBA and SRA require it, and many clients and public-sector contracts ask for proof of cover, at a set limit, before they will award work.
Professional indemnity and public liability
Professional indemnity and public liability answer different problems. Professional indemnity covers financial loss a client suffers because of your advice or professional work. Public liability covers injury to a person or damage to their property.
Most professional firms need both: professional indemnity for the work itself and public liability for anyone who visits or is affected by the business. They sit alongside each other rather than overlapping, so check what each policy is meant to answer.
Each of these decides whether a claim is paid, and getting the retroactive date and limit right matters as much as the cover itself. Compare professional indemnity quotes to see how claims-made cover, your retroactive date and the right limit are arranged for your profession across the MyMoneyComparison.com broker panel.
Who needs professional indemnity insurance?
Almost any business or freelancer that gives advice or provides a professional service needs professional indemnity cover, but the right limit looks very different depending on your profession, your fee income and the contracts you take on. The policy pays legal defence costs and compensation if a client claims your work caused them a financial loss. Many regulators, professional bodies and clients require proof of cover before they will award work.
Consultants and advisers
Management and business consultants whose advice shapes client decisions. If a recommendation is said to have caused a financial loss, the policy covers legal defence costs and any compensation awarded to the client.
Accountants and bookkeepers
Accountants, bookkeepers and tax advisers handling client figures and filings. A missed deadline or an error in the numbers can lead to a claim, and bodies such as the ICAEW require cover to practise.
IT contractors and developers
IT contractors and software developers delivering systems and code. If a project fails or a fault causes a client a financial loss, cover responds, and most agencies and end clients ask for it in the contract.
Architects and surveyors
Architects and surveyors whose designs and reports carry real financial weight. A design fault or a missed defect can bring a costly claim, and the RIBA and RICS require members to hold cover.
Marketing and design agencies
Marketing, PR and design agencies producing creative work for clients. Cover responds to a campaign that goes wrong, an unintentional breach of copyright or a defamation claim arising from the work.
Financial advisers and IFAs
Financial advisers and IFAs guiding clients on money and investments. Advice said to be unsuitable can lead to a claim, and the FCA requires authorised firms to hold professional indemnity cover.
Whatever your profession, the limit should reflect the contracts you take on. Compare professional indemnity quotes to match the policy to your work, fee income and risk profile.
Professional indemnity vs public liability insurance
The two covers are commonly confused but protect against different things. Professional indemnity covers financial loss a client says was caused by your advice, service or design work, paying legal defence costs and compensation. Public liability covers injury to people or damage to their property caused by your business. One is about the quality of your professional work, the other about physical harm, so most professional firms need both rather than choosing between them.
| Comparison | Professional indemnity Financial loss from your work | Public liability insurance Injury and property damage |
|---|---|---|
| What it protects against | Financial loss a client says was caused by negligent advice, a service or design work you carried out for them | Injury to a person, or damage to their property, caused by your business or by the work you do on site |
| Who brings the claim | A client who paid for and relied on your professional work and believes an error left them out of pocket | A member of the public, client or visitor who is physically hurt or whose property is damaged by your business |
| Typical claim | A report with a costly error, wrong or unsuitable advice, a missed deadline, or loss of a client's documents or data | A visitor trips over a trailing cable at a meeting, or your work accidentally damages a client's premises or equipment |
| Costs and payouts | Legal defence costs and compensation for the client's financial loss, up to the limit of indemnity you choose | Legal costs and compensation for the injury caused or the property damaged, up to the limit on the policy |
| How cover is written | On a claims-made basis with a retroactive date, so cover must stay in place continuously, even for work done in the past | Usually written to respond to an incident that happens during the policy year, whenever the claim is later reported |
| Who typically needs it | Consultants, accountants, IT contractors, architects and anyone who gives advice or a professional service for a fee | Any business whose staff, premises or work bring it into physical contact with clients, visitors or the public |
| Do you need both | Covers the advice and professional work side, which public liability leaves out entirely | Covers injury and property damage only, not financial loss from your advice, so most professional firms hold both |
Important: Cover detail shown is indicative of how UK professional indemnity and public liability policies are typically structured. It is illustrative only and does not constitute a quotation or offer of insurance. Specific policy wording, limits of indemnity, retroactive dates and exclusions vary by insurer and individual circumstances. MyMoneyComparison.com Ltd is authorised and regulated by the Financial Conduct Authority, FCA registration number 916241.
Professional indemnity and public liability insurance answer different claims, so most professional firms hold both to cover their advice and any injury or damage their work causes.
Specialist Professional Indemnity
Specialist professional indemnity comparison since 2013
Since 2013, MyMoneyComparison.com has helped UK professionals find cover without the runaround. Whether you are a consultant, accountant, IT contractor, architect or freelancer, our specialist broker panel arranges professional indemnity every day. Compare specialist professional indemnity cover from a panel that understands negligence claims, legal defence costs, claims-made policies, retroactive dates and the full range of UK professional risks.
Compare professional indemnity quotes from some of the UK's top providers, including:
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Everything You Need to Know
Detailed answers to help you understand more about professional indemnity insurance.
What is professional indemnity insurance?
Professional indemnity insurance protects a business or freelancer if a client claims that negligent advice, a service or design work caused them a financial or reputational loss. It pays your legal defence costs and any compensation awarded, up to your limit of indemnity. It is the core cover for anyone who gives advice or provides a professional service.
Is professional indemnity insurance a legal requirement?
It is not required by law for most trades, but many regulators and professional bodies make it compulsory, for example the FCA, SRA, RIBA and ICAEW. Even where it is not mandatory, clients and public-sector contracts often ask for proof of cover before they award work.
What does professional indemnity insurance cover?
It covers professional negligence, mistakes and bad advice, breach of professional duty and contract, loss of documents or data, breach of confidentiality, copyright and intellectual property infringement, and defamation. It pays both the legal defence costs and any damages, plus court attendance costs.
What is a claims-made policy?
Professional indemnity is written on a claims-made basis, which means the policy that responds is the one in force when a claim is made against you, not the one you held when the work was done. Because of this you need to keep cover in place continuously, even for work you completed in earlier years.
What is a retroactive date?
The retroactive date is the point from which your past work is covered. A claim is only paid if the work was carried out on or after this date. When you compare cover, the retroactive date should go back to when you first started the relevant work, so none of your history is left unprotected.
What is run-off cover?
Run-off cover keeps you protected against claims that arrive after you stop trading, retire or sell the business, for work you did in the past. Because claims-made cover ends when the policy ends, run-off is what protects you during the years a client can still bring a claim.
How much cover do I need?
The limit of indemnity is the most the policy will pay for a claim, and it typically ranges from £50,000 to £5,000,000 or more. The right figure depends on the size of your contracts and what your clients or regulator require, as some contracts set a minimum limit you must hold.
Who needs professional indemnity insurance?
It is essential for consultants, accountants, IT contractors, architects, engineers, financial advisers, marketing and design agencies, recruiters and any business that gives advice or provides a professional service. Freelancers and contractors often need it before a client will sign them on.
How much does professional indemnity insurance cost?
There is no fixed price. The premium depends on your profession and its risk, your annual fee income, the limit of indemnity you choose, your retroactive date and claims history, and the size of your typical contracts. A specialist broker prices it against how you actually work.
Is professional indemnity the same as public liability?
No. Professional indemnity covers financial loss caused by your advice or professional work, while public liability covers injury to a person or damage to their property. They protect against different risks, so many professional firms hold both.
Does it cover freelancers and contractors?
Yes. Sole traders, freelancers and limited-company contractors can all take out professional indemnity, and many agencies and end clients require it before awarding a contract. Cover is arranged around your fee income and the work you carry out.
Why use a specialist professional indemnity broker?
Specialist brokers place professional risks every day and understand how the retroactive date, the limit of indemnity and your claims history drive the price. They match your profession to insurers with the right appetite, rather than a fixed online quote that may not fit your work.
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