Professional financial and legal insurance
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Rated 4.7/5
Based on 39,717 reviews
Claims paid in 24 hours
For 80% of settled claims
Insurance for financial and legal services – what’s important?
In a serviced office or at your laptop out and about – wherever the work takes you, compensation claims against legal and financial services companies can run into hundreds of thousands of pounds. We offer between £50,000 and £5 million in professional indemnity insurance, depending on your business type, plus public and employers’ liability insurance for third party accidents.
- professional indemnity insurance, up to £5 million in some cases
- rated 4.7/5 based on 39K+ public liability customer reviews
- trusted by over 900,000 small UK businesses for flexible, tailored cover
What does legal and finance company insurance cover?
Insurers often start with professional indemnity (PI) cover – we provide options between £50,000 and £5 million for PI, depending on your business profile. From there, you can choose to add public liability insurance, available for claims up to £10 million. Both of these are available as standalone covers, or as part of a tailored policy which can include employers’ liability insurance, equipment, legal fees and personal accident cover.
Public and product liability insurance
In case your business causes an injury or property damage.
Employers’ liability insurance
In case anyone gets ill or injured while working for you.
Professional indemnity insurance
In case there’s a claim for loss-causing errors or issues with your work.
Business and office equipment insurance
In case something happens to the equipment you rely on.
Legal expenses insurance
In case you face legal costs in connection with your business.
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at work or elsewhere.
Public and product liability insurance
In case your business causes an injury or property damage.
What’s typically covered by public liability insurance?
Claims against your business for:
- damage to someone’s property, caused by your business
- an injury or illness caused by your business activities
- accidental damage or injuries caused by your employees
For example:
- while travelling on a train, you dislodge your laptop from an overhead locker and it falls onto a passenger, causing a head injury
- a client slips on your wet reception floor, falling and injuring their hip
**If you do employ anyone, you’re usually required by law to have employers’ liability insurance too.**
Read more about public liability insurance
Employers’ liability insurance
In case anyone gets ill or injured while working for you.
What’s typically covered by employers’ liability insurance?
Claims against your business for:
- an injury or illness that happens as a result of working for you (including temps and casual workers)
**Employers’ liability insurance is required by law if you have people working for you. Without it, you could be fined up to £2,500 a day for each employee.**
For example:
- a contractor working for you pulls a muscle while lifting a heavy crate, and sues for their injuries
- your office manager dislodges an older printer while reaching for a file on a shelf, and suffers a head injury
Professional indemnity insurance
In case there’s a claim for loss-causing errors or issues with your work.
What’s typically covered by professional indemnity insurance?
Claims against your business for professional negligence or a loss-causing breach of contract. This can include:
- advice which turns out to be incorrect
- mistakes in your work that cost others money to fix
For example:
- your client follows advice which you’ve provided, and suffers a subsequent financial loss
- your company is involved in a data protection breach while representing a client and they hold you accountable for damages
Read more about professional indemnity insurance
Business and office equipment insurance
In case something happens to the equipment you rely on.
What’s typically covered by business and office equipment insurance?
- accidental damage to the equipment you use to run the business
- theft, flood, and fire damage
For example:
- someone breaks into your office, stealing your laptop and other office equipment
- a fire in your office destroys your company laptops and printing equipment
Read more about business and office equipment insurance
Legal expenses insurance
In case you face legal costs in connection with your business.
What’s typically covered by legal expenses insurance?
- legal costs attributed to your business
- property damage, nuisance, or trespass – specifically, the associated legal claims and compensation payouts
- tax and compliance disputes, and investigations you need help with
- includes a tax advice helpline, a 24/7 confidential legal helpline, and crisis PR support to help you protect your professional reputation
For example:
- there’s an issue with a foreign worker’s visa, and you begin to incur legal costs
- you become involved in an intellectual property dispute, and need to pay for representation
Read more about legal expenses insurance
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at work or elsewhere.
What’s typically covered by personal accident insurance?
- accidental injury or death at or outside of work, for anyone covered on the policy
- lost income, medical costs, and hospitalisation benefit
For example:
- you break your knee while running at the weekend, and need an operation
- one of your junior office workers slips on some ice on the steps outside your premises, injuring her head on a metal rail
Read more about personal accident insurance
This content has been created for general information purposes. Make sure you have the right level of business insurance by checking your policy documentation for details. Read our full Terms and Conditions
How much does legal and financial services insurance cost?
Find out how much you’ll pay by comparing prices from a range of trusted insurers. You choose what goes into your policy, so you only pay for what you need.
Prices start from £1.90 per month
Get your quotes in 7 minutes – prices are guaranteed for 30 days.
Get your tailored quotes in 7 minutes
*How we work out example prices 10% of our customers paid up to £22.81 a year for a professional indemnity insurance policy between 1st April 2023 - 30th June 2023. Equivalent to £1.90 per month based on a monthly cost when paying for the policy in one annual payment. Paying monthly is usually more expensive as you'll pay interest. Most customers pay more than this but some pay less.
Example financial insurance quotes, real prices
£8.83 /month
£68.30 /year
A self-employed book keeper handling dealing with small/sole trader businesses
- 2-3 years' experience
- Sole trader
- No employees
- Based in Manchester
Professional indemnity
£50,000
Public liability
Not included
Employers' liability
Not included
£20.74 /month
£184.38 /year
A small accountancy company working for small and medium-sized businesses
- 5+ years' experience
- Limited company
- 2 employees
- Based in Cardiff
Professional indemnity
£100,000
Public liability
£1,000,000
Employers' liability
£10,000,000
How we work out example quotes These examples are real quotes from our online system (created 17/04/2021). They’re based on a range of factors, like employees and location. Your own quote will be based on what you tell us about your business. Prices may go up or down from day to day, so the prices you’re quoted may differ to the ones you see here.
What kind of excess should I expect?
An excess is an amount you pay towards any claim you make on your insurance. For example, if your excess is £250 and you make a claim worth £1000, your payout will be a maximum of £750.
Insurance cover | Lowest excess | Highest excess |
|---|---|---|
Professional indemnity | No excess | £2500 |
Public liability | £100 | £2500 |
Employers' liability | No excess | No excess |
Business and office equipment | £50 | £750 |
The figures above are for guidance only and any excess applying to your quote may differ. You’ll get a breakdown of the excesses for each quote when you compare with us.
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How do claims work?
Unlike price comparison websites, we take the hassle out of claims for you. We know how important it is to get your business back on track quickly – and with a minimum of fuss. That’s why you get access to your dedicated claims team any time, day or night. Call them on 0333 207 0560 or claim online. They’ll do their best to be fair and supportive.
£39 million in claims paid out in 2022
Paying 80% of settled claims within 24 hours in 2022
The figure above is rounded across our range of products. Our claims process may vary for different products and operates on a ‘claim by claim’ basis.
Chosen by 900,000 small businesses and landlords
We started out as a team of 5 back in 2005. We’ve grown since then with 900,000 customers across 1,500 trades now trusting us to provide their insurance.
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Legal and financial services insurance FAQ
Whether you’re new to buying business insurance or you’ve been trading for a while, here are the answers to some commonly asked questions about insurance for legal services and financial professionals. You can also check out our business insurance FAQs.
Yes. You may start offering additional services that require you to use different skills or carry out different tasks. If you find yourself in this situation, it’s important to give us a call on 0333 0146 683 to update your policy before you take on this new work.
If you don’t have the correct type of cover in place for the work you do, you may be unable to claim on your policy if something goes wrong.
Each insurer looks at CCJs and IVAs differently – some apply stricter rules than others, but having a CCJ or IVA doesn’t necessarily mean you won’t be able to buy insurance.
If you change your business legal structure from sole trader to limited company mid-way through your policy, give us a call straight away on 0333 0146 683. It’ll only take us a few minutes to cancel your existing policy and replace it with one that correctly covers your new legal structure. It’s worth bearing in mind that your insurer and premium amount may need to change.
This will depend on whether you have employers’ liability insurance in place. Public liability insurance is designed to protect your business against the consequences of legal action brought by members of the public for injuries or damage to their belongings. But when it comes to your employees causing injury or damage, this protection only activates if you also have employers’ liability insurance.
If you employ people, you’re required by law to have employers’ liability insurance.
There’s one exception here. Family businesses that aren’t incorporated as a limited company are not legally required to have employers’ liability insurance. The government defines a “family business” as one where all your employees are closely related to you (as a spouse, civil partner, sibling, child, parent, grandparent, grandchild, step-parent, stepchild or half-sibling). So if you run an unincorporated family business and you choose not to get employers’ liability insurance, it ’s important to know that your public liability insurance wouldn’t cover you against damage or injury caused by your team.
We create this content for general information purposes and it should not be taken as advice. Always check policy documentation for details and seek professional advice. Read our full Terms and Conditions
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