Compare Professional Indemnity Insurance Cover
When comparing Professional Indemnity Insurance there is a lot to consider!
Some of the most important things to consider when you are after a Professional Indemnity policy to protect you against your professional risks are:
- Is the policy wording appropriate for your area of specialisation? More specifically, will the policy cover you for the key professional risks you face?
- What is the claims history of the insurance company for your specific risks?
- What is the support you will receive if you need to claim?
- Is the Professional Indemnity policy cost inclusive or cost exclusive?
- If you need to claim will you be dealing directly with an insurance company, the insurance company agent or will you have a broker to represent your interests?
- What are inclusions and exclusions of your Professional Indemnity policy?
- What are the excesses, sub-limits and deductibles within your Professional Indemnity policy?
- What is the rating of the Professional Indemnity insurance company or underwriter ? – this can dictate their ability to pay.
- How many reinstatements are there in your Professional Indemnity policy?
- What are the territorial limits?
- Are all the countries you do business with included in jurisdictional limits? Please note that the U.S.A. and Canada are often excluded in professional indemnity policies.
- Is the policy effective from date of inception or is it unlimited retroactive? If you have been in business for a while unlimited retroactive may be more suitable.
- Do you need cyber cover? is there a cyber-online extension?
- Who in your business is covered by the Professional Indemnity policy? For example: does it cover past, current and future principles, all relevant entities, all staff members that could be deemed to be giving advice, subsidiaries, agents and contractors.
- Is Run-off cover, or even extended Run-off cover automatically included or available as an option?
- And finally, what is the price for your Professional Indemnity cover?
Want to know more about comparing professional indemnity insurance policies ?
If you want to know more about comparing professional indemnity insurance companies and policies you can read about some of the questions our insurance brokers are most frequently asked about professional indemnity insurance by clicking here.
If you want to know more about some of the professional indemnity insurance companies the team at SMART use when comparing professional indemnity insurance please click here.
If you want to know more about typical professional indemnity insurance rates, and the factors that influence the cost of pi insurance , please click here.
Want help comparing Professional Indemnity policies?
There is a lot to consider when comparing Professional Indemnity policies. It can be daunting for many consultants and small business owners to understand all the clauses in a Professional Indemnity contract.
That's where business insurance brokers such as SMART Business Insurance can assist. Ask us, we are here to help.
To discuss your Professional Indemnity exposures and to get a competitive quote on a suitable Professional Indemnity policy call a SMART Business Insurance broker on 1300 542 573 or email email@example.com.
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