Join over 900,000 UK customers with cover from £3.19 per month*
For accountancy and legal professionals, or other types of advisory business, professional liability insurance (PLI for short) can be a key protection. It’s designed to protect you if a customer suffers a financial loss, and holds you responsible. Clients and professional bodies often require a minimum level of professional liability insurance coverage – we offer between £50,000 and £5 million, depending on the individual business.
Professional liability insurance is also known as professional indemnity insurance. They’re the same cover, designed to protect professionals against PI claims.
If you’re running an advisory business, professional liability insurance can cover your legal and compensation costs if a customer makes a financial loss because of your work. From negligence claims and mistakes to copyright infringement and breaches of confidentiality, professional liabilities insurance is built to cover a range of risks.
What's covered?
For example:
What isn’t covered?
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
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.
Get your quotes in 7 minutes – prices are guaranteed for 30 days.
Get your tailored quotes in 7 minutes
10% of our customers paid up to £38.32 a year for a public liability insurance policy between 1st April 2023 - 30th June 2023. Equivalent to £3.19 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.
£13.45 /month
£114.50 /year
A self-employed interior designer who helps transform commercial spaces
Public liability
£1,000,000
Employers’ liability
Not included
Professional indemnity
£50,000
£70.90 /month
£630.26 /year
A small accountancy firm that contracts for small and medium-sized businesses
Public liability
£5,000,000
Employers’ liability
£10,000,000
Professional indemnity
£100,000
How we work out example quotes These examples are real quotes from our online system (created 14/09/2021). 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.
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 |
---|---|---|
Public liability | £100 | £2500 |
Employers' liability | No excess | No excess |
Tools | £60 | £500 |
Stock | £100 | £500 |
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.
Depending on your set-up, clients and business type, these expert covers might be helpful too:
When you run a quote you can select from a range of covers.
Only pay for what you need
Choose the best fit for you
Get your documents the same day
Simply Business
Direct to
insurer
Highstreet
broker
Compare policies from a range of trusted insurers
Buy online or over the phone in minutes
Our team of UK-based insurance experts are here to help, Mon 09.00am - 05.30pm, Tues 09.00am - 05.30pm, Weds 09.00am - 05.30pm, Thurs 09.30am - 05.30pm, Fri 09.00am - 05.30pm, Sat 09.00am - 02.00pm
Call our team
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 any time, day or night. Call them on 0333 207 0560 or claim online. They’ll do their best to be fair and supportive.
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.
We started out as a team of five back in 2005. We’ve grown since then with 900,000 customers across 1,500 trades now trusting us to provide their business insurance.
Compare and buy in minutes
Documents arrive today
Rated 4.7/5
Based on 39,717 reviews
Here to help
Help from UK-based experts
24/7 claims
Make a claim any time
Whether you’re new to buying insurance or you’ve been operating your business for a while, here are the answers to some commonly asked questions about professional liabilities insurance.
You can also check out our business insurance FAQs.
Personal liability insurance is similar to public liability insurance and covers injury or damage compensation claims made against you by a third party. If you run an advisory business, professional liability covers things that could result in a financial loss for the people you work for.
Yes. Professional liability cover is another way of referring to professional indemnity insurance. They’re both often known as PLI and PI for short, and are designed to cover professional and advisory businesses like lawyers, accountants, and consultants against specific claims.
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.
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
Keep up to date with Simply Business. Subscribe to our monthly newsletter and follow us on social media.
Subscribe to our newsletter6th Floor99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2023 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.