Professional Indemnity Insurance

Professional Indemnity (PI) insurance protects your business against claims for alleged negligence or breach of duty arising from an act, error or omission in the performance of professional services. 

If you are offering professional services & advice (including free advice), it's a good idea to take out Professional Indemnity cover to protect your business. If the services/advice you gave transpired to be negligent, and a third party subsequently suffered loss or damage, they could make a claim against you. 

If you don't have the correct Professional Indemnity cover in place and a claim is made against you, you will have to pay any compensations costs and legal fees from your own pocket.

You may also be required to take out PI cover by law or in line with a trade association/regulatory body. 

The level of cover selected is referred to as the Limit of Indemnity (LOI). This is the maximum amount the policy will pay in the event of a claim.
The minimum level of cover available is £100,000, however we can look at accommodating a specific limit if you have one. 

It is a legal requirement to have Employers' Liability (EL) if you have one or more employees.
Failure to have EL cover in place could see your business fined up to £2,500 per day.
The minimum level of cover required by law is £5,000,000 however, most insurers will offer £10,000,000 as an industry standard. 

Whilst Public Liability (PL) is not a legal requirement, it's a good idea to have it when running a business.
There is no legal penalty if you don't have PL cover in place however you will have to pay for legal costs & any settlement fees out of your own pocket. 

There isn't a one-size-fits-all answer with PI insurance premiums. The total premium will vary based on the level of cover, business activities, turnover and if any additional covers (e.g. EL & PL) to name a few.
For Property Sourcing PI, prices start at around £300.00 inclusive of Insurance Premium Tax at 12% and any fees*.
For R2R/SA/HMO PI, prices vary more however can start at around £400 inclusive of Insurance Premium Tax at 12% and any fees*.

*Premiums subject to change based on underwriting. 

HHSRS stands for Housing Health and Safety Rating System. It is applicable to landlords and property-related professionals.

"The housing health and safety rating system (HHSRS) is a risk-based evaluation tool to help local authorities identify and protect against potential risks and hazards to health and safety from any deficiencies identified in dwellings. It was introduced under the Housing Act 2004 and applies to residential properties in England and Wales". 

We will need you to complete a proposal form, please complete the form that aligns closest with your business activities, the forms are imbedded below. 

Property Sourcing Only Proposal Form: complete if your business activities are 100% Property Sourcing.

All Other Property Activities Proposal Form: complete if your business is undertaking the following activities (whether in isolation or a combination):

• Property Sourcing
• Rent2Rent
• Serviced Accommodation
• House of Multiple Occupants
• Property Management

Try using the below links instead.

Property Sourcing Only Proposal Form

All Other Property Activities Proposal Form

Property Sourcing Only Proposal Form: complete if your business activities are 100% Property Sourcing.

All Other Property Activities Proposal Form: complete if your business is undertaking the following activities (whether in isolation or a combination):

• Property Sourcing
• Rent2Rent
• Serviced Accommodation
• House of Multiple Occupants
• Property Management

We endeavour to initially respond to your submission within 2 working days.

Please bear in mind wait times may be longer during busy periods.

Once you receive your quotation, we'll ask you review the documents.

If you are happy to with the quote, instructions on how to proceed will  be detailed in our email to you.

We do offer monthly instalment options, let us know if this is something you need and we'll advise further.

The form will automatically submit once all of the mandatory fields are completed (marked with an asterisk *).

You will also receive an email from Adobe to the address used on the form, where you will be asked to confirm your submission by clicking the link within the email.