Why you need Professional Indemnity Insurance

PI Insurance is one of the most purchased insurances on the market, sure home insurance and car insurance sail above all others in sales, but Professional Indemnity Insurance isn’t that far behind them, and here’s why.

As business insurances go, PI Insurance is one of the most necessary and most vital. It has many benefits to professionals and is essential to self-employed specialists, freelancers and contractors. Not only does the cover provide complete protection in the case of professional negligence, but it also aids the business position and standing of the one who has purchased it. It reflects well regarding IR35, and proves that the owner has professional stability and strength.

At its core, Professional Indemnity Insurance will protect you against the cost of defending claims where it is alleged that a client has suffered financial loss as a result of your error, omission or negligence, but as you may have gathered, it does much more than that. It is very much the essential business insurance, and above all others reflects a high standard of competence and aptitude when it comes to professionalism.

So to sum up a policy that has more pro’s than a professional golf course, it is safe to say that when asked, ‘Why PI?’ the answer will be a straightforward one.

By:Steven Bailey

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