Professional Indemnity Insurance


Consultants Insurance


Updated: 23 April 2013

One of the largest user groups of professional indemnity insurance are consultants.

Whatever type of consulting you do, there are risks associated with services that you offer to your clients, and if something goes wrong it could be you who they come after.

Thankfully many of these risks can be protected against with professional indemnity insurance.

Why Do Consultants Need Insurance?

As a consultant you will most likely be putting yourself out there as an industry professional and/or expert, and part of your role will be to provide professional advice and services to your clients.

If the advice or service that you offer results in your client suffering a loss, whether it be a financial loss, property damage or even personal injury, you could find yourself liable for their costs.

Whilst there was a time when only professions such as solicitors and accountants required professional indemnity, these days it can extend to anyone who is considered to be providing a professional or skilled service.

What Will Professional Indemnity Cover?

If your client suffers a loss due to your negligence or a breach of your professional duty, your professional indemnity policy can cover the costs associated with a claim against you.

Broadly speaking this negligence or breach of duty will be the result of an act, error or omission in the performance of your consulting services.

In terms of the actual costs that your policy will cover, these can include any costs incurred by your client as a result of your actions, as well as your own legal costs in defending those actions.

Each consultants insurance policy will have a sum insured which can vary anywhere from $1 million to $20 million, and this is the maximum amount that your policy will pay out in the event of a claim.

How Much Does It Cost?

The professional indemnity insurance cost for each person and business will depend on the type of consulting that you do.

Generally speaking the cost of your cover will be based on the perceived risk of your particular form of consulting.

If the claims history for your type of consulting is high then you will pay a higher premium, whilst if the claim history is low then you will pay a lower premium.

Whilst it's not possible to give an accurate figure within this guide, it certainly is possible to get a quote on your cover with minimum hassle.

By providing some basic details about the type of work you are doing we can arrange a quote on professional indemnity or a complete consultant insurance package.

To request a quote please follow the link to our online quote request form and enter your details.

If you would like more information about insurance for consultants please contact us or check out our popular 'what is professional indemnity' guide.


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Please note that all information on this website is general in nature and does not take into account your personal circumstances. The information we have provided about professional indemnity insurance is generalised and does not reflect any one particular policy. For more information about a specific policy please contact the insurer for a copy of their PDS (Product Disclosure Statement). You should not take any action based on the information on this website without first seeking suitable advice from a qualified and licensed insurance broker.