I don't know if I need Professional Indemnity Insurance?
If you run a business or professional service, then there's no doubt about it: you need professional indemnity insurance. There are many components to protect within a business, from an employee perspective to a client or customer aspect and it is imperative to ensure your business is not at risk; whether you are a financial adviser, a solicitor, an engineer or even a less traditional service.
What will your policy cover me for?
The idea of professional indemnity insurance is to protect and prevent companies from being held legally liable by a third party. The owners of the business and their employees can be protected against negligence, injury, loss or damage of goods as well as slander, professional neglect and many other areas.
No small business is one hundred percent free of risk from a dispute with an unsatisfied customer or client and when the time arises, you won't want to lose business or large amounts of money as a consequence. So, professional indemnity insurance can protect you from all this.
Can I tailor the policy to suit my needs
Yes, that's no problem: At Quote Me Today, we have the expertise in the field required to provide a well informed policy which covers you for all the most at-risk areas of your business. We will work together with you to find out all about what it is you do in your company so that we can better understand it and formulate a plan that will keep you covered for everything from a breach of duty of care, infringing on copyright, lost data or dishonesty. These are just some of the things clients can dispute, so if you or your staff make a mistake it could cost you dearly.
How Does PI Insurance Work?
It's simple. If you should become unfortunately embroiled in a dispute with a client, then your insurer can defend your claim while your policy will protect you so that even if you are found to be liable, any damages can be covered by your policy subject to the level of cover you have. It helps you to avoid a larger payout allowing your business to come out of things without half as much damage as it would without cover.
Continuous Professional Indemnity insurance is required, however, as a matter of course. This is due to the fact that any gaps could hold you liable for claims against you.
What Level of Cover Do I Need?
Our trained and experienced specialists in Professional Indemnity Insurance can help you with this. We have worked with many businesses advising them on how best to protect their business when working with large and small clients alike. We will often advise you to take into account the type of work you are carrying out against the amount it is costing the client and how much is at risk. Then we can best work out the level of protection that is likely to be needed; the most being your safest bet.
Sometimes your client will be able to offer their input too by setting a minimum limit of indemnity as they see it, which could be standard for them. Quote Me Today will be able to provide you with more information as well as the option to also take out retroactive cover for work done in the past.
Why choose us?
We have all the experience you could ask for at Quote Me Today and a dedicated team of specialists, specially trained in Professional Indemnity Insurance, so we are exactly who you need to be advising you. We can provide all the knowledge on the best way of making sure you're protected and because we are one of the UK's leading insurance brokers, you know you're in safe hands for finding the best possible deal.