Professional Indemnity Insurance Quote

  • Flexible monthly cover, shaped around you
  • Build a policy that reflects your business
  • Get covered in less than 10 minutes
Get covered in 10 minutes
Get a Quote
Powered by
Superscript logo

Cover For 1,000 Business Types

  • Essential cover

    Protection if someone is injured or their property is damaged because of your business.

    • Public Liability Insurance
    • Employers Liability Insurance
    • Business Contents Insurance
  • Professional cover

    Legal fees and compensation payments if you make a mistake in your work and a client suffers a financial loss.

    • Professional Indemnity Insurance
    • Cyber Insurance
  • Management cover

    Cover for legal fees and compensation payments if you make a mistake in your work and a client suffers a financial loss.

    • Directors and Officers Insurance

How it works

Tell us about your business
Answer a few questions about your business.
Create a tailored insurance policy
Our partner Superscript will create a tailored insurance policy based on what you tell us.
Get your business covered
If the policy suits your needs, you can take it out and get cover immediately.

What our Nerds say about professional indemnity insurance



If your clients rely on your professional services or advice, then you may want to consider taking out professional indemnity (PI) insurance.

PI cover could pay out compensation costs and legal fees in the event that a client made a successful professional negligence claim against you.

In certain professions, such as accountancy and architecture, you have to have professional indemnity cover to be allowed to work. Even if it’s not required for your industry, it may be worth thinking about.

What is professional indemnity insurance?

Professional indemnity (PI) insurance is a type of business insurance cover. You can buy it as a standalone policy or add it to a larger business insurance package.

PI insurance can cover you for claims made against you or your business for professional negligence. If a client claimed you provided advice or services that caused financial or reputational loss, PI insurance could potentially cover the compensation owed for loss or damage the client may have suffered, as well as any related legal costs.

Why is professional indemnity insurance important?

Professional indemnity insurance may be an important consideration for your business if you provide expert advice or are trusted with confidential customer information.

When choosing whether to take out professional indemnity insurance, it is a good idea to think about how much your business could afford to pay out in the event of a successful claim.

This is because clients can make a claim against you if they believe the service or advice you have provided has caused them to lose out financially, or caused damage to them in some way. If they are owed compensation as a result, professional indemnity insurance could cover this cost. Without this type of insurance, your business could be liable to foot the bill.

What does professional indemnity insurance cover?

Professional indemnity insurance can cover claims made against you or your business for negligent acts that lead to a client losing money or having their reputation damaged.

‘Negligent acts’ could include copyright infringement, data breaches, loss of confidential information, or errors in your work.

For example, if you forwarded an email containing confidential customer data to the wrong person and the customer suffered financial loss as a result, they could claim compensation. Without PI cover, you could be liable for all the costs.

Another example would be if you were a consultant and wrote a report for a client on what to do next to grow their business. If the client followed this advice and lost money because of errors you made in your report, they could make a claim for compensation. PI insurance could cover this cost if the claim were successful.

It’s worth bearing in mind that professional indemnity insurance operates on a ‘claims-made’ basis. This means that you must have a policy in place when a claim is made – not just when the event in question happened – for you to be covered.

For example, if you gave a client advice in 2015 which later lost them money and they decided to make a claim in 2017, you would only be covered if you still had professional indemnity insurance in 2017. If you had a policy in place in 2015 but cancelled it before they made a claim, you would not be covered – and could be liable to pay legal fees and compensation.

If you retire, you may consider purchasing a ‘run-off policy’. This can cover claims made against you after your professional indemnity insurance has ended. New claims can be made against you for up to six years after an event has happened, so your run-off policy should last this long.

If you change insurers, you may also need run-off insurance to ensure you maintain cover for work completed under a previous professional indemnity policy. This is because your new policy will by default only cover you from the day it is taken out and won’t automatically cover previous work.

Alternatively, you could ask your new insurer to give your new policy a retroactive start date, so you are still covered for claims related to previous work. If you’re unsure about what could suit your business, it’s worth asking your insurer.

Do I need professional indemnity insurance?

In some professions you are required to have professional indemnity insurance. According to the Association of British Insurers (ABI), you need professional indemnity insurance if you work in the following jobs:

  • solicitor
  • accountant
  • architect
  • chartered surveyor
  • financial adviser
  • healthcare professional (in certain cases)

In addition, if you offer expert advice or information as part of your work, you may consider taking out professional indemnity insurance. This also includes if you provide advice or services for free, as claims can still be made against you or your business.

How much PI insurance cover will I need?

The amount of cover you wish to take out will depend on your individual circumstances and the nature of your business. You can usually take out cover worth between £50,000 and £10 million, depending on your industry and the insurer you choose.

Some clients may require you to have a certain level of cover before they agree to work with you, so it could be worth asking how much cover they expect.

If you’re a member of a professional body, you may be required to take out a certain level of professional indemnity insurance as part of the membership criteria. You should contact your trade body to find out if this applies to you.

When should I get professional indemnity insurance?

Professional indemnity insurance only covers events that happened while you had a policy in place. For example, if you didn’t take out PI insurance until 2018 and a client then decided to make a claim against you for advice you gave in 2017, you wouldn’t be covered and could be liable to pay compensation and legal fees.

Therefore, if you decide to take out professional indemnity insurance to cover your business activities, you may consider buying a policy as soon as possible after you start trading.

How much does PI insurance cost?

The price of professional indemnity insurance can vary between insurers, and also depends on your business’s specific needs and circumstances.

The following factors may affect the cost of PI insurance:

  • your profession
  • the level of cover you want
  • the risks associated with your business
  • the number of employees you have
  • your annual turnover

To know how much professional indemnity insurance could cost for your business, you can get a personalised quote from an insurer. You can compare professional indemnity quotes from different insurers with NerdWallet. Click the ‘Get a quote’ button to get started.

Professional Indemnity Insurance FAQs

Does my business need any other types of insurance?

Your business may need to consider other types of insurance, depending on the risks involved in your work, the industry you are in and your personal business circumstances.

For example, if you employ non-family members in the UK, you’ll need to take out employers’ liability insurance. You could face a fine if you aren’t properly covered.

Some professional bodies require their members to take out specific types of insurance. Or you may find that clients request that you have a certain level of public liability insurance.

Every business is different. For specific advice related to your business, you may want to talk to an expert or your insurer.

Is professional indemnity insurance a legal requirement in the UK?

No, professional indemnity insurance is not legally required for businesses trading in the UK.

However, some industry regulators insist that you have PI insurance. This includes solicitors, accountants, architects, chartered surveyors, financial advisers, and certain healthcare professionals. If you’re unsure, you should consult the professional body for your industry.

The only legal requirement for businesses in the UK when it comes to insurance is employers’ liability insurance. If you employ anyone outside your immediate family who is based in the UK, you need to have this cover or you could face a £2,500 fine for each day you’re not covered.

Is PI insurance tax deductible?

As it is classed as an ‘allowable expense’, professional indemnity insurance is tax deductible. The cost of PI insurance can be deducted from your income when working out your taxable profits for self-assessment or your tax return. You should always seek professional advice if you are unsure about how this works.

How do I claim on my PI insurance?

If a client makes a negligence claim against you and you think you may have to claim on your professional indemnity insurance, you should contact your insurer straight away.

Insurers can reject your claim if you don’t give them enough notice, so it’s important to let them know what’s happening as soon as you can. You can usually contact them by email, via an online form, or over the phone.

If you think a claim could be made against you but you have not yet received notice of one, it’s still worth giving your insurer a heads-up. They may be able to help you settle the issue without needing to go through the claims process, or else can advise you on your next steps.

What's the difference between professional indemnity and public liability insurance?

Professional indemnity insurance typically covers compensation related to claims made against you or your business for providing advice or services that led to financial loss or reputational damage.

On the other hand, public liability insurance covers third parties (such as clients or members of the public) if they get injured, die, or their property is lost or damaged because of your business activities. This includes work that your employees have completed, if you employ others.

In short, professional indemnity insurance covers financial or reputational loss suffered by clients as a result of your services. Public liability insurance covers injury or death, or loss or damage to property, incurred by third parties, including both your clients and members of the public.

» MORE: What is public liability insurance?

Do I need professional indemnity insurance as a sole trader?

You may need professional indemnity insurance as a sole trader. It all depends on the nature of your business. For example, if you are a self-employed consultant registered as a sole trader, you may consider PI insurance because of the type of work you do.

Similarly, self-employed accountants or architects will need PI insurance because the relevant professional bodies of these industries require it. This would be the same whether you were a sole trader or ran your own architecture firm as a limited company.

In summary, whether you need professional indemnity insurance depends on what you do rather than how your business is structured.

» MORE: Should I register as a sole trader or a limited company?

Do I need PI insurance if I work from home?

Whether you need professional indemnity insurance when working from home depends on the nature of your business rather than where you work.

If you work as a consultant or accountant for example, the professional body for your industry requires you to have PI insurance – whether you work in an office or at home.

If clients come to you for your knowledge, skills or professional opinion, even If you’re not required to have it by your industry’s regulator, it may be something to consider whether or not your business needs to be covered by a PI policy.

For more information and advice tailored to your business, check with your insurer.

Is professional indemnity insurance the same as Directors' and Officers' insurance?

Although it may seem similar, Directors’ and Officers’ insurance is different to professional indemnity insurance.

Directors’ and Officers’ insurance covers claims against key managers of your business for committing a ‘wrongful act’. Such acts include breaches of trust and duty, neglect, misleading of clients and wrongful trading. This type of insurance covers specific individuals against claims made by investors, shareholders, regulators and creditors.

On the other hand, professional indemnity insurance covers claims made by clients who feel they have suffered financial or reputational loss as a result of your work, albeit unintentionally. This type of insurance covers claims made against your business as a whole or against individuals because of their work.

» MORE: What is directors and officers insurance?

What happens if I can't get PI insurance?

If you are required to have PI insurance by your profession’s regulatory body but you are unable to secure an adequate policy, you should contact your professional body for advice. There may be procedures in place to help you get another policy or cover you until you are insured.

You may not be allowed to trade without adequate PI insurance in certain professions, so you should seek advice from your profession’s regulators if you think you may have a problem getting insurance.

Does professional indemnity insurance cover my employees?

Yes, professional indemnity insurance can cover claims made against your business for work your employees have done. You should inform your insurer of how many employees you have, so they can be included on your policy.

Does a PI policy cover death?

Usually, PI policies do not cover you for death or injury. However, this type of insurance may cover death or injury only if you were found to have been negligent and breached your ‘duty of care’ while at work.

However, if a third party was accidentally injured at your workplace and there was no professional negligence involved, this could be covered under a public liability insurance policy instead.

About the author

Kristina is a writer at NerdWallet. A recent graduate trading French for finance, she has experience creating content for student newspaper Cherwell and an edtech company. Read more

How this service works

This insurance service is provided by Superscript on behalf of NerdWallet Ltd.

The data you supply and submit is collected directly by Superscript who are responsible for the handling and processing of that data.

By using their quote system you are agreeing to their terms and conditions and privacy policy which can be found here.

Superscript is a trading name of Enro Limited who are authorised and regulated by the Financial Conduct Authority (FCA), FRN 656459.