Professional Indemnity – How Much Cover do You Need?

How much cover do you need?

No two businesses are the same and there is no single amount of cover that suits all. Nobody knows your business and the exposure it

faces better than you. Our advice would always to buy as much cover as you can reasonably afford.

Professional Indemnity – A Beginner’s Guide

Often, your client will set a minimum limit of the indemnity they require. This can depend on the specific nature of the services

you’ve been contracted to provide, or they could have a set limit for all their service providers. For example, many UK government

departments will require their contractors and consultants to have at least £5 million of cover.

It’s also worth considering taking our retroactive cover for work that you’ve already completed before the policy commences.

By doing this, you will have all bases covered. You will be asked whether you want retroactive cover when getting a quote on

our website.

6 steps to a peace of mind.

There are just 6 quick and easy steps involved in buying from our website (or less than 30 seconds to get a full quote).

We have designed the site so that you know exactly what stage you are at in the process. Just follow the bowler hat shown on the

right hand navigation bar of the home page and, as long as you have the required information available (see below), it can take as

little as 3 minutes.

If you want, you can complete your purchase and opt to pay for your policy online. We will issue your customised policy

documentation on the spot so you can download, save or print them off straight away.

Our team of account handlers are also available to guide you through any stage in the process and answer any questions. Simply

contact them on 0845 365 1730 (between 9.00am – 5.30pm Monday to Friday).

What information do we need ?

To make the process as easy as possible we will need to know the following, so have the information to hand before applying:

• Your profession or industry sector – so we can offer you a tailored policy

• Your business name, a contact name and a valid email address to send your policy to

• Your business trading address

• Your annual gross income, annual fee income or your estimated first year’s revenue if the business is just starting up

• Your answers to questions about your business activities and previous claims history

• The date cover is to begin

• Your bank details for payment

Why Hiscox?

Some other insurers offer a one-size-fits-all Professional Indemnity insurance, regardless of the profession involved. We don’t.

Our strengths include:

• Leading specialist insurer

• Long history of creating unique insurance solutions

• Quick and easy – get a quote and buy online with same day cover

• Add-on policies including contents, computer equipment & Public Liability

• Expert legally trained claims team

• Easy payment options including interest free monthly Direct Debit

At Hiscox, you’ll find the extraordinary is simply standard policy.

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