Professional indemnity insurance

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We firmly believe you should have confidence in your expertise and trade. But when it comes to work, everybody makes mistakes. Professional indemnity insurance – or PI insurance for short - is there to protect you if your client suffers a financial loss through your work for them.

Using one simple form, Simply Business will help you arrange this cover as part of your full business insurance policy, or coupled with public liability insurance. Many professionals - such as consultants, accountants, architects and surveyors - can also buy professional indemnity insurance as a stand-alone cover.

Compare professional indemnity insurance quotes below and find a tailored policy in minutes.

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What is professional indemnity insurance?

Professional indemnity insurance is an important cover for businesses that give advice or provide a professional service to clients. It can pay for compensation claims and legal fees that may arise if a client suffers a financial or professional loss due to negligence in your work.

Our consultant Hattie explains the ins and outs of professional indemnity and why PI cover is key for so many small businesses.

Read more on our PI insurance definition or check our professional indemnity insurance FAQ.

What does professional indemnity insurance cover?

Professional indemnity insurance can cover you in the event that a client loses money as a result of negligence in your advice, services or designs. It can cover legal fees and compensation payments, with the compensation often taking into account the financial loss that the client has suffered.

More specifically, professional indemnity insurance covers you for mistakes such as:

  • professional negligence
  • unintentional breaches of copyright or confidentiality
  • loss of documents or data
  • defamation or libel

Read more on what professional indemnity insurance covers.

Do I need professional indemnity insurance?

If your business gives advice, offers a professional service, or handles data or intellectual property belonging to a client or business, you may need professional indemnity insurance. This cover protects you against the cost of a claim for negligence or a mistake that leaves the client out of pocket.

Even if you’ve done nothing wrong, the cost of defending yourself against these claims can be very high. Professional indemnity cover can help protect you and your business against this risk.

Find out more on who needs professional indemnity insurance.

Why Simply Business?

  • We’re the UK’s biggest business insurance provider
  • All settled claims paid within 24 hours
  • 9/10 ratings say we’re good (or excellent)
  • 400,000 customers (and counting)
  • Claims handled by an award-winning team
  • Quote comparisons available from multiple insurers
  • We run things from an expert, UK-based contact centre

How does professional indemnity insurance work?

A quick claim example

One of your employees has accidentally sent an email containing confidential client information to the wrong person. Your client is now suing you for breach of confidentiality.

What was covered?

The professional indemnity claim cost of £35,000, including legal costs.

What wasn’t covered?

The £250 excess (the excess is the part of the claim you pay, and the amount payable will vary depending on the particulars of your policy), plus any costs for damaged reputation or loss of future contracts.

What level of professional indemnity insurance do I need?

At Simply Business we offer between £50,000 and £5 million in professional indemnity cover, but how do you choose the right figure for you and your contracts?

Your clients will often tell you the level of cover they need you to have in place. If they haven’t, it’s always worth asking them before you take on the work, so you’re both prepared, and any changes can be checked with your professional indemnity insurance provider. Other smart details to check are the exclusions on your policy, and whether it includes legal expenses cover. As with most things, it’s best to do this before you buy.

From accountants to architects, surveyors and consultants, our panel can provide insurance options for a range of professions.

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