How much professional indemnity insurance do I need?
The amount of professional indemnity insurance you need depends on your industry, client requirements, and potential claim values, with most UK professionals requiring between £250,000 to £6 million coverage. When asking "how much professional indemnity insurance do I need?", consider your annual turnover, contract values, and regulatory requirements, as some sectors mandate minimum coverage levels while clients often specify insurance thresholds in contracts.
You can usually choose between £50,000 and £5 million of professional indemnity insurance. Your regulator, professional body or client contracts may indicate you the minimum amount you need. You should also consider the scope of your projects and the potential compensation demand if something went wrong.
You can usually choose between £50,000 and £5 million of professional indemnity insurance. Your regulator, professional body or client contracts may indicate you the minimum amount you need. You should also consider the scope of your projects and the potential compensation demand if something went wrong.
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This is our ultimate business insurance guide. We help walk through the specific business insurance elements you may need to consider for your business as well as relevant partner offers.
