Where to find the right PI insurance

06th June 2012
Written by Qdos Contractor

Choosing your contractor insurance provider 

Top insurers warn clients of the risks of being sold overpriced PI Insurance, as well as providing worthwhile tips on buying such an essential policy.


Finding an appropriate, affordable insurance is an increasingly difficult process for first time buyers in a highly competitive market. Insurers are tending to push overpriced, over packaged policies onto clients for long periods of time, in an attempt to hold them down to cover that may possibly not even be suitable for them. Respected professionals have commented on this, and on increasing cases when it comes to Professional Indemnity Insurance.


This policy is both highly popular with clients and is essential within businesses, but with this demand comes the obvious threat of being miss-sold more than is necessary. Some firms have highlighted this issue however and admirably provide policies incomparable with many others.


Seb Maley, Operations Manager at established insurers, Qdos, commented on the importance of a correct and appropriate policy within a demanding market.


Professional Indemnity Insurance is contractually required by most agencies. Historically, contractors have often had to pay over the odds for such a policy, when the actual risk of a claim is relatively slim.”


Seb here highlights the potential that exists for customers to be misled by insurers willing to miss-sell a product. He continues to comment on how PI insurance should be treated as an essential and careful package, and how Qdos has built on its most important factors as opposed to blindly selling the product.


We have a long history in the contractor market and have been able to negotiate extremely favourable rates that are based on the actual risk involved. PI insurance is also a key indicator to being in business in your own account, and one of HMRC’s 12 ‘Business Entity Tests’, so the benefits therefore far outweigh the outlay.


Sebastian Maley’s statement draws on the importance of Professional Indemnity Insurance as well as highlighting the ease and therefore risk of being miss-sold the product. His statement comments on the policy in light of the recent update of the HMRC’s risk based approach to IR35, and the significance of having correct PI insurance is further made adamant.



PI insurance is in high demand on the insurance market, and because of its necessity, is prone to being miss-sold or miss represented. As a buyer, one must look to honest, established brokers to purchase the insurance, and in turn will receive advice, background and an insight into the potential of the product. These factors are equally as important and more often than not go hand in hand with cheap PI insurance.


Qdos Contractor
Written by
Qdos Contractor
Award-winning providers of insurance for the self-employed, Qdos are the leading authority on IR35, offering industry-leading employment status services to ensure the flexible working industry thrive. Qdos are the Best Contractor Insurance Provider 2022 and won the Queen’s Award for Enterprise in Innovation 2022 and 2017. 

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