Cheap professional indemnity insurance pls!

Kaybenson

Hello Folks,

I am looking to the insurance next week. Is there any cheap aone available?

Cheers

Kay

Sally_A

Depends what profession you need it for Kay.

Keep your eye on the excess they will apply too.

Kaybenson

Sally_A wrote: »

Keep your eye on the excess they will apply too.

how?

indemnity as something like ''legal adviser''

anniecave

A lot of the contractors at the company I work for use either simplybusiness.co.uk or hiscox. Doing a google search I see that both of these come up on an initial search under "professional indemnity insurance" so maybe our contractors are just doing a google search and going for the first options they see! The prices they pay seem quite reasonable though.

Spiderham

Kaybenson wrote: »

how?

indemnity as something like ''legal adviser''

From my prior life dealing with Professional Indemnity I know that "Legal Advisers" can be a bit hard to place, insurers can be worried that it's people who are basically trying to be solicitors but either don't have the qualifications or couldn't get a decent quote for Solicitors' PI.

There are direct to insurer options but it may worth talking to a specialist Professional Indemnity insurance broker if you're area is a bit niche as they will know a bit and also not all insurers are available direct to clients.

Kaybenson

anniecave wrote: »

A lot of the contractors at the company I work for use either simplybusiness.co.uk or hiscox. Doing a google search I see that both of these come up on an initial search under "professional indemnity insurance" so maybe our contractors are just doing a google search and going for the first options they see! The prices they pay seem quite reasonable though.

Hiscox come handy to a number of people i know.

Cheers

Jemma130

I've actually found PI Insurance from Qdos to be more affordable than Hiscox. Cos they're smaller, I've found the service is more personal - http://shop.qdosconsulting.com

dacouch

Jemma130 wrote: »

I've actually found PI Insurance from to be more affordable than Hiscox. Cos they're smaller, I've found the service is more personal

If you work for Qdos which I suspect you do website created about the same time you joined etc, are you aware you are breaking the Consumer Protection for Unfair Trading Regulations Rule 18.

"18. A wolf in sheep’s clothing
Falsely claiming or creating the impression that the
trader is not acting for purposes relating to his/her trade,
business, craft or profession, or falsely representing
oneself as a consumer."

http://www.oft.gov.uk/shared_oft/business_leaflets/cpregs/oft979.pdf

Anyone who has time please click spam on the following posts if you suspect they are actually spam

https://forums.moneysavingexpert.com/discussion/comment/52244507#Comment_52244507


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P.S Your website states your FSA registered but shows no FSA number.

InsideInsurance

If you actually WANT cover rather than just getting something to tick the box to say you have it then be very careful of what you buy, particularly online!

Had the fun of renewing mine again last month, if you think find PI cover is difficult for those who are legal advisors try getting it for a "business consultant" to insurance companies (not my choice of job title but the best match thats there)!

For me, most wont touch me. Those that will were looking at premiums in the £1k+ mark other than one web scheme that I found (that you could drive a bus sideways through all the holes in it) which was about £150 from memory.

Qdos do have good prices, I personally was concerned that they didn't use industry as a rating factor and so didn't go on to investigate the quality of the product itself. Strangely the exclude legal advisors and those working for insurance brokers but not those that work for insurers themselves.

Hiscox design their products to provide top level protection and thus price their products accordingly. It is very rare you will find them the cheapest, and not that often even in the top 5.