Consultant insurance

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Professional Indemnity Insurance for Consultants UK
Professional Indemnity Insurance for Consultants UK
Professional Indemnity Insurance for Consultants UK
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What is consultant insurance?

Consultant insurance isn’t just one product; it is a package that comprises several products designed to meet the specific needs of your consulting business.

Given the advisory nature of consulting work, professional indemnity insurance should be one of the first covers you look to get. Consultants may also need public liability if they are working face-to-face with clients. Electronic business equipment insurance can be helpful if you travel with expensive computer equipment.

Self employed professional indemnity insurance
Professional indemnity

from £7.67 per month

Provides you with legal defence against claims of professional mistake or negligence causing a financial loss to your clients.

Up to £2,000,000 cover

Zero excess

Dedicated legal team

A+ insurer

Competitive prices

Core cover
Self employed professional indemnity insurance

Professional indemnity

from £8.89 per month

Provides you with legal defence against claims of professional mistake or negligence causing a financial loss to your clients.

Up to £2,000,000 cover

Zero excess

Dedicated legal team

A+ insurer

Competitive prices

Core cover
Commercial legal expenses insurance.
Business legal protect

Cover of £100,000 commercial legal expenses included with your policy subscription.

Protects you and your business against a range of issues not typically covered by professional indemnity or public liability.

IR35 & HMRC investigations

Legal matters concerning your business

Negative PR (£25,000 cover)

Criminal prosecution

Compliance & regulation issues

Unpaid invoices (over £200)

Also includes free telephone advice & help from qualified professionals.

Tax and commercial legal advice

Counselling for you and your staff

Access to a legal template library

Identity theft assistance

Self employed public liability insurance.
Public liability

from +£4.76 per month

Protects your business against claims of causing an accidental injury or property damage to either your clients or a third party.

Up to £2,000,000 cover including products liability

No excess

Expert legal team

A+ specialist insurers

Covers claims against your client caused by your business

Business equipment insurance.
Electronic business equipment

from +£7.00 per month

Pays for repair or replacement if your portable electronic equipment (and accessories) get damaged or lost.

Equipment up to £10,000 cover (£3,500 per item)

Accessories are included (£500 per item)

Hired equipment is covered

Worldwide - your devices are covered anywhere you are

Personal accident insurance.
Business owner protect

from +£10.07 per month

Reimburses your taxable business expenses while you’re recovering from a serious illness or injury.

Up to £2,000 a month

Up to 6 months following the first 30 days of illness

Any tax deductible expenses included

Receive a lump sump payout if you suffer an accident leaving you with partial or total disablement:

£5,000 lump sum

Fast customer service

Quick payout

Answer 4 questions then select the policies and limits you need.
Answer 4 questions then select the policies and limits you need.
What people say
2 March
Extremely impressed

Extremely impressed with the professional and supportive service I received.

Kellie Williams
on Google
16 February
Very efficient

After shopping around for business liability cover, I found suited, I had a few questions and Jana from suited was very efficient...

on Trustpilot
14 February

The website is easy to use and the process is intuitive, clear and easy to follow.

Matt M
on Trustpilot
11 February

I was recommended Suited, because I’d been stalling. Simple to use website, offered clear, concise information and selection...

on Trustpilot
12 December

Really fantastic service by the suited insure team! Always found the insurance side to be a bit confusing but the team took me...

Michael Ryan
on Google
15 September

A simple and flexible service for what I required. Great communication from start to finish.

Matthew Allen
on Google
1 August

I was looking for business insurance this easy to use and very well explained web site made the process simple and painless. Had a quote...

Piers Field
on Trustpilot
In detail

Why do consultants need insurance?

Your work with clients may not always go to plan, and if your recommendations don’t yield the expected results, your client may want answers. In these situations, discussions can get heated and sometimes escalate into accusations against you or disputes over money or compensation.

Accusations of making a professional mistake

Professional mistakes by consultants can result in adverse outcomes for clients, including loss of earnings, additional spending to rectify an error or reputational damage. If your client believes your work led to the problem, they may take legal action against you.

Blame for causing a financial loss

If you are blamed for causing your client financial loss, you may end up in court proceedings. If you don’t have adequate insurance to cover the claim, you may find your business or personal assets on the line.

Contract disputes

Unmet expectations or poorly defined project scope are common causes of contract disputes. These disputes may result in unpaid invoices or your needing to do additional work due to scope creep.

Unpaid invoices

More often than not, consultants have to deal with bad debt. Customers either unduly delay payments or try to avoid paying your fees altogether.

Professional indemnity insurance for consultants

Providing advice is a consultant’s primary role; this is why professional indemnity insurance is the most helpful cover for independent consultants.

Professional indemnity is a legal cover that insures consultants against legal accusations of professional mistakes, negligence, breach of confidentiality, and more. It pays the associated cost of legal defence and will pay any compensation if you are found liable.

The exposures consultants face are often substantial should something go wrong, and professional indemnity provides an affordable safety net.

What does consultant professional indemnity insurance cover?

Professional indemnity protects consultants from claims or accusations of wrongdoing from their professional advice or work product.

Cover includes:

  • Giving the wrong advice or recommendation
  • Making a mistake
  • Acting negligently
  • Confidentiality breaches

For example, a client may claim:

  • The information you shared about their business was confidential and caused a financial loss
  • Your recommendations ended up losing your client’s business money
  • Your work wasn’t up to the expected standards, and your client is asking for a financial remedy
  • A party you contracted didn’t fulfil their contractual obligations, failing the client’s project, and the client is now seeking compensation from you.

How much professional indemnity does a consultant need?

When getting professional indemnity insurance in the UK, coverage limits vary greatly, from £50,000 to millions. The provider pays only up to the limit in the event of a claim.

To ensure adequate coverage, identify the appropriate limit based on factors like your work, client size, and contracts. Your client contract will normally specify a liability limit, so get a policy that matches or exceeds that amount.

Does professional indemnity insurance cover my consultant activities worldwide?

Your professional indemnity policy's ‘territory or geographical limits’ and ‘jurisdiction’ sections specify if your life coach insurance will respond when working in different countries.

Territory or geographical limits:

The territory or geographical limit specifies where you can virtually or physically deliver your services. For example: “Worldwide.”

Jurisdictional limit:

The jurisdictional limit specifies which legal jurisdictions your policy will defend you if you are sued. For example: “Worldwide excluding US and Canada.”

Contract governance:

Any contracts or agreements you enter into with your clients should specify the ‘governing law’ for that contract, which is the jurisdiction in which parties can seek legal remedy for breach of contract.

Avoid entering contracts not governed by your local jurisdiction and/or excluded by your life coaching professional indemnity insurance.

If you work with US and Canadian clients, you can reduce your risk by not entering contracts governed by US and Canadian laws.

Switching your professional indemnity insurance

Typically, in the UK, if you cancel a professional indemnity policy, you can no longer claim against it.

Therefore, if you switch your consultant insurance provider, be sure your new policy covers your past work; this is called “retroactive cover”.

Should I have professional indemnity if I am between contracts?

It’s wise to keep your professional indemnity if you’re taking a break or retiring from consulting. Claims against professional misconduct can surface months or years after you delivered the work.

Remember: If you cancel your policy, your insurance coverage will end, including coverage for any previous work.

How long you keep your cover in place is up to you. Consider the type of consulting you did and the likelihood that a client might bring a claim against you. 

Public liability insurance for consultants

If you frequently meet with clients in person or work at their location, it is recommended to obtain public liability insurance. This type of insurance can shield you from claims of causing an accident that resulted in injury or damage to property.

Having public liability insurance can be an affordable way to protect yourself against unforeseen incidents like slips, falls, or accidentally causing harm to someone else's property. While the compensation for public liability claims is usually not significant, legal defence expenses can accumulate quickly.

What does consultant public liability insurance cover?

Public liability is helpful when faced with injury claims and compensation demands.

Cover includes:

  • accidental injury or death
  • accidental property damage

For example:

  • A client visits your premises and is injured in a slip or fall 
  • You visit a client site and damage equipment by knocking over a coffee or bumping someone’s desk

Other insurance consultants buy

If you're a consultant, the type of insurance coverage you need will vary depending on your circumstances. It's important to assess whether you have the financial means to replace or repair any computer equipment that might get damaged. You should also think about how you would handle a legal dispute and what steps you would take if HM Revenue & Customs conducts a tax audit.

Commercial legal expenses insurance

Most commercial legal expenses insurance will protect consultants against various tax and legal issues you may encounter due to your profession, which are not covered by professional indemnity or public liability.

At Suited, we combined £100,000 of commercial legal expenses insurance with helplines and other tools to better assist consultants in dealing with these issues. We call this Business Legal Protect, and it’s part of your subscription.

Business Legal Protect offers qualified advice and assistance with:

  • Legal and accountancy matters concerning your business
  • Criminal prosecution
  • Compliance & regulation issues
  • Unpaid invoices (over £200)

For example:

  • HMRC flags you for an IR35 investigation
  • You need legal help chasing a major unpaid invoice
  • You need guidance on compliance issues for your business

Electronic business equipment insurance

When working as a consultant, electronic devices are often vital tools for your daily operations. However, the unfortunate reality is that these devices can easily be stolen, damaged, or lost, leading to costly repairs or replacements.

To mitigate this risk and ensure your business equipment is protected, it's a good idea to obtain electronic business equipment insurance.

Business expenses insurance

As an independent consultant, it's important to have a backup plan in the event that a critical illness prevents you from working. In such a scenario, business expense insurance can provide financial support for several months until you recover enough to return to work.

At Suited, we understand the unique challenges faced by independent consultants like you. That's why we offer a comprehensive solution called Business Owner Protect, which combines business expense insurance with personal accident insurance. With this product, you can rest easy knowing that you have the financial protection and peace of mind you need to focus on your work.

Life and relevant life insurance for consultants

As an independent consultant or owner of a consultancy business, you may not have access to the employee benefits or payouts that traditional employees receive. This can leave you and your loved ones vulnerable in the event of a catastrophic incident.

However, there are measures you can take to protect your family's future. Various options, such as key person insurance and relevant life insurance, are available to accommodate your unique personal and professional circumstances. To determine the best course of action for your specific situation, it is recommended that you seek the guidance of a specialist life insurance provider.

Consultants we insure

Suited offers comprehensive insurance policies that cater to the needs of a wide range of consultants, including:

  • Academic consultants
  • Acoustic consultants
  • Business consultants
  • Career consultants
  • Catering consultants
  • Compliance consultants
  • Customer services consultants
  • Energy consultants
  • Environmental consultants
  • Ergonomics consultants
  • Farming consultants
  • Fisheries consultants
  • Food consultants
  • Franchise consultants
  • Health & safety consultants
  • Human resources consultants
  • IT consultants
  • Management consultants
  • Marketing consultants
  • Occupational health consultants
  • Operations consultants
  • PR consultants
  • Quality assurance consultants
  • Sales consultants
  • Strategy consultants
  • Sustainability and waste consultants
  • Sustainability consultants
  • Traffic and transport consultants
  • and more..

Shopping for independent consultant liability insurance

It is worth keeping the following in mind whether or not you choose to use Suited consultant insurance to safeguard your business:

Cheap consultant insurance

When choosing consultant insurance, don't just focus on cost. Consider after-sales service and how easily you can reach your provider. Suited offers multiple contact options and fast responses.

The reputation of the insurer is important

When it comes to insurance, it's crucial to have coverage when you need it most. That's why at Suited, we only work with financially stable insurers who have an A+ rating for their payout reputation.

Many providers charge fees to amend or cancel

Beware of low initial prices that may hide additional charges for monthly payments, policy amendments, or cancellations. At Suited, we don't charge any other fees, and you can cancel your policy at any time without any additional payment.

Some policy wordings are restrictive or have a high excess

Some insurance providers may offer tempting prices, but they may not provide adequate coverage. However, Suited ensures that our professional indemnity and public liability policies have a £0 excess.

In this section
Suited awards.

Common questions

Do I need insurance for a consulting business?

All businesses, no matter how small, have liabilities. This also applies to self employed professionals. Even when you provide your services on a pro bono basis, you should still protect yourself with some insurance.

Where can I get business insurance for independent consultants?

Insurance for independent consultants can be obtained from online providers such as Suited but if your industry is complex or niche, you may need to contact a broker.

Do consultants need employers’ liability insurance?

If you work alone, you don’t need this cover. However, if you use volunteers, contractors or have friends and family helping out, check your obligations.

Do consultants need professional indemnity insurance?

Consultants need professional indemnity insurance if a client, agency or the industry regulator insist on it. However, you may also wish to have it, whether or not required, because it protects you against claims of compensation for making a professional mistake.

Answer 4 questions then select the policies and limits you need.
Answer 4 questions then select the policies and limits you need.
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Consultant professional indemnity insurance
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Go retroactive

Include retroactive cover to insure previous work.

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Holiday mode

Pay less when not working by hibernating your PI cover.

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Monday-Friday, 8:30am to 5:30pm

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If your plans change

No problem, Suited uses a simple subscription model making it easy to walk away.

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14 day promise *

If you call to cancel within the first 2 weeks we’ll give you a full refund.

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Easy to cancel

No longer need us? Cancel anytime, no more to pay.

* 14 day promise is not available online, please speak to a member of staff. Not available if you have reported a claim.

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