It is always thought that if work with any trade that involves manual labour; the only insurance you require to be fully covered is Public Liability and Employers Liability. This is usually the case; however, what for those tradesmen that provide written reports and inspections, should anything go wrong with that information provided to the client, a Public Liability insurance policy isn’t going to cover it. Professional Indemnity is often considered an insurance policy for “white collar” trades and many tradesmen would not consider entertaining the possibility of taking out a policy and many unaware of what a Professional Indemnity Policy actually is.
Professional Indemnity Insurance is becoming ever more increasingly demanded as part of large contract briefs when tendering, it makes sense to have it in place.
If you’re providing inspections and reports to ensure adequate cover, it would be wise to take out a Professional Indemnity insurance policy along with your Public and Employers Liability. Professional indemnity insurance covers legal costs and expenses incurred in your defense, as well as any costs that may be awarded, if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money.
Regardless of how many years’ experience you or your company may have, there is always the possibility you (or one of your team) could make a slip-up. Professional indemnity insurance covers against a wide range of scenarios, such as:
- Professional negligence (i.e. making a mistake in a piece of work for a client)
- Loss of documents or data
- Unintentional breach of copyright and/or confidentiality
- Defamation and libel
- Loss of goods or money (your own or for which you are responsible)
We can provide Professional Indemnity quotations to all trades and all companies, from £100.00 policy for a one man band Electrical contractor, to a £11,000 policy for a firm of Architects, but the more common Professional Indemnity requests are for the following trades* categories:
- Surveyors
- Electrical Contractors
- Plumbing and Heating Engineers
- Interior Designers
- Architects
- Bathroom/Kitchen Designers
- Building Contractors
- Civil Engineers
- Health and Safety Inspectors
- Gardeners/Landscape Gardeners
- Stone Masonry
- Structural Engineers
- Tree Surgeons
We can provide a quotation for ALL trades, so don’t be discouraged if your trade doesn’t feature on the above list.
To obtain a quotation, contact our Professional Indemnity Department today.
*Excluding “white collar” trades
