As a freelance professional you will be used to creating value for organisations through the application of knowledge, techniques and assets to improve business performance.
As well as reward and great satisfaction through personal achievement such duties attract responsibility and significant risk.
Professional Indemnity Insurance insures you against your error, neglect, act or omission which could cause financial loss to your principals.
We have developed a specialist scheme to help you insure against this financial risk should matters go wrong.
Cover is available for marketing, PR, graphic, web and interior designers, new media professions, illustrators, editors and copywriters as well as portrait, wedding, fashion and corporate freelance photographers.
Other professions are also covered - please apply online for further information.
Premiums start from £165 inclusive of Insurance Premium Tax, and offer some of the widest cover around. An acceptable level of cover is generally considered to be between 500k & £1 million.
What does PI insurance cover and why do I need it?
Prices
The Professional Indemnity prices are as follows - prices are per annum. NOTE - prices are dependent on the fee income bracket of the company (last years fees). For start-up companies, please use a 12 month projected figure.
| Fee Band GBP |
Limit of Indemnity/Premium - GBP | Excess | |||
| 100,000 | 250,000 | 500,000 | 1,000,000 | GBP | |
| £0 - 50,000 | 165 | 170 | 200 | 245 | 250 |
| £50,001 - 100,000 | 208 | 230 | 300 | 370 | 500 |
| £100,001 - 150,000 | 260 | 328 | 390 | 546 | 500 |
| £150,001 - 200,000 | 312 | 390 | 468 | 656 | 500 |
| £200,001 - 250,000 | 390 | 488 | 585 | 820 | 500 |
| £250,001 - 300,000 | 468 | 585 | 702 | 984 | 500 |
| £50,000 Legal Expenses cover available for an extra £75.00 per annum | |||||
(Insurance Premium Tax of 5% is included in the above premiums).
How to Apply
- Obtain A Quote.(Please note freelancers classed as 'management consultants')
- Complete The Application Form
- Make Payment via credit/debit card or direct debit. (A one off annual payment)
- View/Print your policy documents in a secure customer service area. (a password will be emailed to you).
- If you have any queries during the application process please contact Caunce O'Hara on 0161 833 2100.
If you feel you need protection that is not covered in the above please let us know by email .
Caunce O'Hara, (The Underwriting Agent/Broker we have teamed up with), have been insuring Freelance Professionals for nearly 10 years and have a wealth of experience in this area. Caunce O'Hara have negotiated an exclusive Lloyd's regulated insurance scheme with Coulson Pritchard. All their products are FSA regulated and supported by leading accountants, agencies & freelance newsgroups.
