insurance guide
A Guide to Professional Liability
Knowing you need professional liability insurance is one thing but understanding what the various liability insurances are and how they protect your business is another. Our...
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Our Professional Indemnity cover can account for the risks of your profession, so you can work worry free.
Give us a call and tell us all about your indemnity requirements.
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*Based on an IT Consultant with £25k turnover and £100k PI limit.
Do you want to know more? Read on for details on our professional liability insurance policy:
There is no cap on how much a compensation claim can be in the UK. This means a claim could be hundreds of thousands, even millions of pounds. Our policies can protect you against claims for compensation for financial loss suffered by your customers. Even if a court case is unsuccessful, we can cover you simply for the cost of defending yourself.
Each trade and profession is different and for this reason we remain flexible on the levels of cover. Depending on policy and personal requirements we can offer various features : Interest free monthly payments, 24 hour legal advice, worldwide provide. Based on your industry and business turn-over, among others, we provide professional indemnity cover ranging from £1,000,000 to £10 million.
Need indemnity protection to tender for a contract? We can set up your policy over the phone and put your cover in place there and then. We can also provide emailed policy documents the same day too and paper documents are sent within 24 hours.
We can also include various other liability and business covers depending on what you need. Match your professional indemnity insurance with public and employers’ liability insurance, tools cover, data protection, even property and income protection and many more.
Unless you’re a lawyer, the world of liability and compensation can be daunting, especially if a claim is being raised against you. The team of legal advisors we work with can help you right from the beginning, even before an official claim has even been made.
In terms of the claim itself, we can talk you through the steps you need to take to prepare and how to further protect yourself. This won’t prejudice your claim either and you won’t need to fill out any paper work until you are ready to make a claim.
Just advice and support as you need it.
To discuss your insurance requirements, or to make a claim on your existing policy please call us on:
Indemnity? Liability? What does it all mean?! Our guides can help you understand.
insurance guide
Knowing you need professional liability insurance is one thing but understanding what the various liability insurances are and how they protect your business is another. Our...
View insurance guide
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Business insurance can be tricky at times and often people don’t understand what they need, where to go to get the correct advice, or sometimes, even what is legally required! We would always recommend speaking directly with a specialist business insurance broker before getting covered but this list of pointers here can help you understand what you can do personally too, to help get the best insurance for your business.
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Public liability insurance could be the most important cover you have. Not only does it pay out for claims that could otherwise topple a successful business but in many cases not having it would put customers and partners off using your services. Our simple guide looks at the main features and pitfalls.
For their own liability reasons you are unlikely to find an insurance company who will advise you exactly on how much cover you need. It is essentially your responsibility to take out adequate cover although our advisors can go through your options over the phone and explain how you might want to calculate this cost. Alternatively, many industry organisations or professional bodies will likely be able to offer your some advice.
Professionals who send out products, offer advice of some kind, or provide some services from their own home can still cause harm for which they may be liable. For this reason it’s important you don’t make an assumption that you can’t do any damage when tucked away in your own home, and speak with an advisor about your risks.
When you stop trading or retire we recommend you still have something called ‘run off’ cover. This means that claims raised against you for an event that happened while you were still trading are covered (a claim can be raised any time up to 3 years after the fact). When you are ready we can arrange cover for you for this.
Many of our customers can get a discount on their insurance simply by being a member of a professional association or industry body. What’s more, for many of these, we also offer profession specific policies too. This means you can get specific cover with great discounts! Speak to one of our advisors to find out how much you can save.
If you would prefer to spread the cost of your policy you have the option of setting up a Direct Debit to pay your premium in equal monthly instalments through our preferred provider, Premium Credit Limited (PCL).
To find out more about PCL and direct debit payments, select Direct Debit.
To understand more about how PCL work together with Towergate, please read our Regulatory Information.
If you want to know more about our monthly payment option, please read our dedicated page on Direct Debit.
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