Professional indemnity insurance for contractors is essential, but the level of cover required depends on the industry you’re working in. Some sectors have professional bodies that state the minimum levels required, but your clients may also have conditions, which will be set out in their contracts.
We’ve worked with small businesses, sole traders and partnerships for more than 30 years. As businesses with unlimited liability, we understand the importance of professional indemnity insurance for contractors, and the protection it provides for both your livelihood and your personal assets. Our specialist PI team will work with you to get the right level of cover for each of your contracts, so you’ll be protected if you unintentionally make a mistake.
All very helpful and efficient. I think they made a real effort to understand how my organisation works and what I need.
The word ‘contractor’ broadly refers to people who are self-employed and have unlimited liability. As such, your personal assets are at risk if a client makes a claim against you. This includes building contractors, IT contractors, and freelancers in all industries.
Our specialist team can arrange professional indemnity insurance for contractors in a range of sectors.
It’s important to note that you need PI, even if you’re not dealing with the final customer. For instance, you may have been subcontracted to complete a task for another business, because that’s where your expertise lies. If your advice is incorrect, your client may be pursued for damages by the end user, before your client pursues you for those costs.
If you’re a contractor that provides advice, designs, or specifications, you should consider taking out a policy. An experienced insurance broker will be able to advise on whether you need it and to what level.
Consider the consequences of any service or advice you provide failing. You should also think about the value of your contracts and any specific obligations you have to professional bodies.
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