Professional Indemnity Insurance

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

You may 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 incl IPT at 12% and any fees*.

For R2R/SA/HMO PI, prices vary more however can start at around £600 incl IPT at 12% and any fees*.

*Premiums subject to change based on underwriting.

Download and complete the relevant proposal form below based on your business activities.

If your business undertakes all the activities listed below, you will need to complete both forms.

Send the form back to insurance@dcib.co.uk or attach it to the contact form.

We aim to respond within two working days.