What does professional indemnity insurance not cover?

It won't cover deliberate or dishonest acts, fines and penalties, your own trading losses or unpaid fees, or work you haven't declared. Most surveyors' policies also carry a fire safety exclusion, although RICS minimum terms limit how far that can reach, and completing an EWS1 form usually needs your insurer's agreement before the policy starts. We’ll help you understand the level of cover provided.

Does it matter which insurer I use?

Yes, RICS requires regulated firms to buy from an insurer that has signed its agreement and offers the approved minimum wording. A cheaper policy from an insurer outside that list may not satisfy the Rules of Conduct, which puts your registration at risk.

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

Professional indemnity covers claims about your professional work, such as a report, a valuation, or advice. Public liability insurance covers injury to others or damage to their property. Most surveying practices need both.

Is professional indemnity insurance worth it for a sole practitioner?

Defending even an unfounded allegation usually costs more than a professional indemnity policy premium, and claims can appear years after the work was done and your fee was received. For a sole practitioner, professional indemnity insurance will defend a claim that, without a policy, you would have to handle personally.

Professional Indemnity Insurance for Surveyors

Name: Professional Indemnity Insurance for Surveyors
Brand: Alan Boswell Group
Rating: 4.8 (13362 reviews)

Professional indemnity insurance for surveyors covers negligent valuations, missed defects, and errors in the reports your clients rely on.

Flexible limits from £50,000

Cover for valuation, survey and party wall work

Even experienced surveyors and valuers can face claims when something goes wrong. Professional indemnity insurance helps protect you against the financial consequences, while also helping you meet RICS requirements for minimum levels of cover.

From an alleged overvaluation or a defect missed in a homebuyer report to a dispute over party wall advice, claims can quickly become expensive. Professional indemnity insurance can help cover the cost of defending a claim, as well as compensation you may be liable to pay.

The Alan Boswell Group Difference

With more than 40 years of arranging commercial insurance, our brokers specialise in a wide range of policies. We understand the wide range of risks you face as a surveyor, including the requirements from RICS and the lenders whose panels you sit on. That's why we're ideally placed to arrange cover on RICS minimum terms, along with independent, expert advice at a great-value price.

Professional indemnity insurance in detail

Professional indemnity insurance for surveyors covers legal costs and third-party compensation claims. As a surveyor, complaints may arise from negligent advice or services that cause financial loss.

Our specialist professional indemnity policies provide cover for a wide range of surveying disciplines, including chartered building surveyors, residential and commercial valuers, quantity surveyors, party wall surveyors, and land and rural practice surveyors. It could include:

RICS compliant cover

Cover arranged on the RICS-approved minimum policy wording with an RICS-listed insurer, on an each-and-every-claim basis and fully retroactive, so your policy satisfies the Rules of Conduct, as well as your clients.

Civil liability

If a client suffers financial loss because of any advice, report, or valuation you provided, PI will cover the cost of legal defence and any compensation awarded.

Negligent valuation

Valuation is often the most common claim against surveyors, sometimes years later and often brought by a lender rather than the client who paid your fee. Cover responds to allegations that a figure was wrong or that the basis of the valuation was not properly explained.

Missed defects and survey errors

Covers claims that a condition report or building survey failed to identify defects, including damp, movement, timber decay, and roof condition.

Loss of documents

Covers the cost of replacement or restoration of documents, plans, and records that were left in your business's care.

Breach of confidentiality

If your business has been entrusted with personal information or confidential details and these are shared without permission, you may be required to pay compensation.

Libel, slander, and defamation

Cover for unintentionally damaging a third party's reputation, whether in a report, a reference, or an expert opinion.

Employee dishonesty

Provides cover if your clients suffer a loss caused by a dishonest or fraudulent act by one of your employees.

Formal investigation

If your firm is investigated by RICS, an ombudsman, or another regulator, this policy will cover the cost of the investigation and any legal proceedings brought against you.

How our customers rate us

Efficiently sorted my insurance out for me and were very easy to deal with. Will not hesitate to use them again as I already have done for the past few years.

Mr Purkiss - Professional Indemnity Insurance

4.8/5 13362 reviews

Do surveyors legally need professional indemnity insurance?

If your firm is regulated by RICS, cover on RICS minimum terms is a condition of registration. Lender panels, framework agreements, and larger clients may also have their own requirements, which can be above the RICS minimum. Surveyors outside RICS regulation aren't legally required to have professional indemnity insurance, but the cost of defending and paying compensation for a single valuation or survey claim can quickly exceed the fee you've earned from it.

How much does professional indemnity insurance cost for surveyors?

Premiums are based on your fee income, the split of work you do, the limit and excess you choose, and your claims history. Valuation work, fire safety work, and anything involving high-rise residential buildings may have a higher premium, while building surveys, dilapidations, and party wall work can have a lower premium. As a broker, we have access to multiple insurers and can compare the best policy terms and premium to suit your business and risks.

Other professions we cover

Every profession comes with its own risks. Explore the professional indemnity cover we arrange for other sectors.

Professional Indemnity Insurance for Estate Agents

Explore why professional indemnity insurance is a vital consideration for property professionals.

Professional Indemnity Insurance for Engineers

From structural designs to site advice, covered if a client says an error in your work cost them money.

Professional Indemnity Insurance for Architectural Services

Find out more about specialist professional indemnity insurance for architectural services providers.

Professional Indemnity Insurance for Contractors

Professional indemnity insurance for contractors protects against claims of inadequate workmanship, design errors, or project delays.

Professional Indemnity Insurance for IT Consultants

Professional indemnity insurance for contractors protects against claims of inadequate workmanship, design errors, or project delays.

an accountant with professional indemnity insurance

Professional Indemnity Insurance for Accountants

Professional indemnity insurance for accountants covers the cost of defending and settling claims when your accounts, tax work, or advice leave a client out of pocket.

Get in touch

Whether you need a quote, have a general enquiry, want to register a claim, or want to talk it through over the phone, we're here to help.

Speak to us: 01603 216387

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Professional Indemnity Insurance for Surveyors

The Alan Boswell Group Difference