Professional Indemnity Insurance for Contractors

From your safe hands to ours; cover and protection you can rely on.

Policy features

✔ Up to £5million worth of cover available

✔ Experienced PI broker with access to unique UK insurer schemes

✔ Dedicated customer service, support with a UK based contact centre

✔ Monthly instalments available*

✔ Public & Employers Liability Extension

✔ Instant Policy Documents

*We offer a direct debit payment plan, subject to a minimum premium of £150 including the initial deposit.

Professional Indemnity Insurance for Contractors

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Professional Indemnity Insurance for Contractors

From your safe hands to ours; cover and protection you can rely on.

Policy features

✔ Up to £5million worth of cover available

✔ Experienced PI broker with access to unique UK insurer schemes

✔ Dedicated customer service, support with a UK based contact centre

✔ Monthly instalments available*

✔ Public & Employers Liability Extension

✔ Instant Policy Documents

*We offer a direct debit payment plan, subject to a minimum premium of £150 including the initial deposit.

Professional Indemnity Insurance for Contractors may not necessarily appear beneficial. However, as a contractor, you probably offer your customers’ advice as well as some elbow grease – your clients look to you as an expert in your field and for that reason you need to make sure that you are in a positon to protect yourself, if the worst should happen.

Ultimately, no matter how professional or experienced you are, mistakes can happen to anyone at any time and should the advice you’ve given end up costing your customers money, you can count on a claim being made.

As a contractor, before you begin undertaking work on someone’s property, chances are you will have discussed the job requirements with your customer and offer advice and suggestions regarding the best approach to achieve the project outcome within the timeframe and budget allocated.

What then happens if what you’ve suggested turns out to be a disaster for your customer? What if what you’ve suggested has incurred costs to your customer? This is why many contractors choose to have Professional Indemnity insurance; if your customer puts in a claim against you, you can rest easy knowing you that have arranged appropriate cover and won’t have to worry about getting hit with a legal bill that could see you and your business in trouble.

What are the risks for contractors?

Contractors face risks from all angles, whether that’s the risk of injury or the risk of causing financial loss to a customer as a result of some careless advice. Whereas Public Liability insurance is there to protect you if you cause injury to a person or damage someone’s property; Professional Indemnity insurance covers different kinds of risks.

Imagine that you tell your customer that solar panels will save them thousands of pounds each year. They then readily take your advice and install solar panels. After installing the panels, they discover that their house isn’t located in a place that gets much sunlight and they end up having to revert back to standard electricity. Because your advice would have cost them the money to install the solar panels and cost them money to then revert back, you could be held responsible for these costs if a claim is made against you.

Or imagine you provide boiler services and you tell a customer during an inspection that everything is in order and shortly after the boiler falls through the floor because of an ongoing leak that you failed to notice. This is an example of when your professional advice has caused your clients financial loss because they have to pay for the repairs. If they make a claim against you, you will have to pay for the financial damage caused to your customers.

By having a Professional Indemnity Insurance for Contractors policy in place, then any related claim made against you could be covered and you won’t have to worry about costs when a claim is made against you.

Can contractors work without Professional Indemnity Insurance?

There are some professionals, such as architects, accountants, consulting engineers and solicitors that legally require Professional Indemnity cover, and some chartered bodies also require it as a matter of course. However, some engineers, consultants and designers also choose to protect themselves by taking out a Professional Indemnity insurance to give them peace of mind and added security.

Professional Indemnity insurance might not be a legal requirement for you, but if your job requires you to give advice or provide a professional service then you should certainly consider protecting yourself, or you could risk losing your business and your integrity as a result of a claim.

Think about the legal cost of a claim and how having to deal with a hefty bill will affect you and your business. Then think about how a Professional Indemnity policy will protect you financially should a claim be made against you.

How much does Professional Indemnity Insurance for contractors cost?

Like all other insurances, the amount you pay for a Professional Indemnity policy will depend on a number of factors, such the limit of cover you want and the kind of work you do.

There isn’t one general price for Professional Indemnity Insurance; different insurers will take many different risks into account. Price really depends on each individual’s circumstances and each individual’s needs.