Insurance for IT contractors

Secure IT contractor professional indemnity insurance quickly and without fuss. We're simply-priced, flexible and upfront.

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Insurance for IT contractors.
Insurance for IT contractors.
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Priced in a Jiffy
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subscription model
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The problem

IT contractors face many risks

Contract non-compliance

Most contracts you will engage with as an IT contractor will stipulate you must have and show proof of professional indemnity insurance.

A man in a suit walking with slumped shoulders.

IR35 enquiries and unpaid invoices

Depending if you use an umbrella company or contract directly you may be exposed to IR35 enquiries from HMRC. Regardless of how you're engaged you still could be subject to late or non-payment of invoices.

Damage to your work equipment

You are likely to use a laptop or computer for your work, if that gets stolen or damaged could you afford the repair or replacement costs?

Accussation of causing a financial loss

An unhappy client may allege your work ended up costing them money which they now want to recover from you.

You need IT contractor insurance that provides contract compliance, offers run off cover and has competent legal defence in the event of a claim.

the suited way
Insurance simplified

Our mission is to see small business insurance done fast, clear, upfront and painless.  

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Save time by getting a price after four questions.

Buy online

Get insured anytime. Manage cover from your DIY portal.

Top insurers

Sleep well knowing your cover is backed by trusted UK insurers.

Pay as you go

Keep money in your pocket. Pay monthly, no APR or fees.

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Holiday mode

Pay less when not working by hibernating your PI cover.

UK call centre

Get help when you need it from our Bristol based team.

covers to consider

What insurance do IT contractors need?

Choosing the right insurance for you depends on the size and nature of your business. Key insurance covers IT contractors should consider include:

Professional indemnity

Provides you with legal defence against claims of professional mistake, causing a financial loss or failing to deliver contractual obligations.

Business legal protect

Pays legal costs & expenses including appeal costs if you or your business face a legal threat or an HMRC/IR35 enquiry.

Electronic business equipment

Pay for repair or replacement of your portable electronic equipment (and accessories) you need to do your work.

Finding the right cover

Starting with IT contractor professional indemnity insurance

PI insurance for IT contractors isn't just about satisfying a contract condition. It is in fact a useful legal cover in case something does go wrong with your work. In the field of technology you face many risks on a daily basis.

A laptop computer with a plant and a stack of pencils.

Your mistake can lead to a data leak, system failure, the wrong choice of software, project delays and more. If your error costs your client money, they will want to recover their financial loss from you. That's why they told you to get a PI cover in the first place.

Hopefully you're not one of those contractors who straight after finishing a contract cancelled their PI insurance. Because if you are, the problem lands firmly on your shoulders and the associated cost of a solicitor to rebuff your client's accusations can easily run into thousands of pounds. On the other hand if you still have a PI cover in place, hopefully you'll have access to early qualified legal help that will guide you through the situation.

How does professional indemnity insurance for IT contractors work?

The benefits of a good PI cover should be several fold. While the promise of legal costs reimbursement and compensation payout is comforting, it’s not quite enough when you face an angry demand from an existing or former client. These are stressful situations you don’t need or want in your life.

This is why Suited PI insurance for IT contractors doesn't just cover the financial risks associated with a possible claim against you.

In addition it does provide immediate assistance from a specialised law firm that has a relevant and long standing experience in handling professional indemnity claims.

They will take your case on from the outset and handle the situation for you. They'll liaise with your insurer when needed to resolve the dispute as soon as possible and ideally out of court.

No active PI cover = no protection against claims

Over the years plenty of IT contractors got caught out by not having PI cover for their past work. Technology mistakes don't always demonstrate themselves straight away and it could be months before serious errors are discovered.

Don't be one of those contractors who, for the sake of saving a few pounds, risk losing their hard earned money. Even if you've finished your contract and aren't currently contracting, keep your IT contractor insurance in place.

Don't cancel your IT contractor insurance

If you choose Suited, you'll have the option to 'hibernate' your PI cover. Meaning you'll pay a much reduced monthly price while staying covered for the work you've done in the past.

How long you keep your PI cover in a hibernate mode will depend on your circumstances, contract terms, and the nature of your past projects.

With Suited you can hibernate your PI cover for as long as you need, you can cancel it when it's right or you can turn it back up to full if you're contracting again.

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Choosing limits

How much PI insurance do IT contractors need?

The minimum PI limit requirement is often dictated by your work contract. If you haven't received it yet, ask your client or the agency for the details so that you have enough time to explore your options. You should know how much of PI cover is required, whether the limit needs to be "any one loss" and how long you'll need to keep the cover in place after you finish the contract.

  • PI limit - in the IT world contracts usually require a specific amount starting from £1,000,000 going all the way up to £10,000,000. The higher the limit, the higher the insurance cost. You should always consider whether the required PI limit is an appropriate amount for the work you will be delivering. You'd be surprised how often you can renegotiate this element of your contract.

    If you contract doesn't state that you need professional indemnity insurance but you're keen to protect yourself, consider your level of input and responsibility for the project/programme. The other thing to look for is any mention of liability in your contract. Usually there is a clause to that extent and it should help you decide how much of PI insurance you need.

  • Any one loss vs in the aggregate - IT contracts rarely stipulate whether the PI limit can or cannot be 'in the aggregate'. In the aggregate limit is a cover restriction which means that irrespective of the number claims you make during the period of insurance, you are only covered up to the policy limit across all claims. For example if you've bought a £1,000,000 PI policy and your first claim was £800,000, you only have £200,000 of PI cover remaining until your insurance renewal. Some IT contracts may require that your PI insurance is on an "any one loss" basis which means PI cover up to the full policy limit per every claim.

  • Number of years - some IT contracts demand that you stay insured for up 6 years after you finished your contract. Again this can be negotiated down. However, if it's set in stone, choose your PI insurance provider carefully. You want to have the flexibility of being able to switch to past work only cover (run off cover) easily.

Business legal protect
Included with your insurance

When you decide to protect your business with Suited we want you to get more than just insurance. That's why with every policy subscription we include Business Legal Protect. From the moment you sign up you gain access to extra support services which are all part of our price.

£100k of legal cover
  • IR35 & HMRC investigations
  • Legal matters concerning your business
  • Negative PR (£25,000 cover)
  • Criminal prosecution
  • Compliance & regulation issues
  • Unpaid invoices (over £200)
Telephone helplines
  • Free tax advice
  • Free commercial legal advice
  • Counselling for you and your staff
  • Access to a legal template library
  • Identity theft assistance
Price

How much does IT contractor insurance cost?

Price depends on many factors including business activity, the cover you choose and the level of protection (also known as the limit). With Suited you can mix and match covers and limits. Below are some cover examples, but you will be able to build your own.

examples

Business activity

IT contracting, IT consultancy and management
from

£8.63

per month
from

£20.44

per month
from

£36.16

per month

Professional indemnity

Our core cover, to protect you and your business if you make a mistake in the course of your work, say something wrong about a client, or are accused of being negligent and your client says it has cost them money.

£250,000
£1,000,000
£2,000,000

Business Legal Protect

Commercial legal expenses insurance there to protect you and your business from commercial disputes, legal claims, IR35 investigations, HMRC enquiries, criminal prosecutions, negative PR and identity theft. It also offers free and confidential tax, legal and counselling assistance whenever you need it.

Included
with professional indemnity
Included
with professional indemnity
Included
with professional indemnity

Electronic business equipment

Protects your business against costly repairs or replacement costs of electronic business equipment and accessories that you own or hire to do your job.

-
£2,500
of equipment
£7,500
of equipment
Get a price
Answer 4 questions then select the policies and limits you need.
FAQs

Common questions

Can I get my past work covered by Suited IT contractor insurance?

Yes, Suited offers a retroactive cover option. When buying your PI insurance, select the date from which you'd like to be covered and it will show on your policy schedule as the "retroactive date".

Will the work of my subcontractors be covered by Suited IT contractor professional indemnity insurance?

Yes, any work by subcontractors of your business is covered, however, do not waive your rights to hold them liable and you should insist that they have PI insurance.

Do IT contractors need public liability insurance?

That depends whether you come into a regular face to face contact with your clients, handle their property (computer hardware, etc) or deliver your services outside your usual place of work, for example at your client's premises. If any of the above applies to your business then you may wish to consider public liability insurance to additionally protect your business against any mishaps such as causing an injury or property damage.

How is the cost of IT contractor professional indemnity insurance calculated?

At Suited we only take into account your annual turnover, that's it. We do not charge per person.

Does Suited IT contractor insurance include cyber cover?

No. Cyber insurance is a complex specialist product which should be bought from insurance providers with the right expertise.

Can Suited PI insurance for IT contractors be changed to a run off cover?

Suited offers the option to hibernate your PI cover which means you'll stay insured for your past work but pay less premium.

Once you buy
If your plans change

No problem, with Suited you can flex your insurance as your business evolves.

Free to amend

Save money by not paying extra to change your cover.

Easy to cancel

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

Testimonials

Professional service and a peace of mind

My work contract requires professional indemnity insurance. Suited were quick to call back and very helpful explaining the product to me. Suited offers a trustworthy, professional service and a peace of mind.

Evie Jarecki

Suited was super efficient

Suited was easy to use, to the point, concise, I found everything I was looking for , was covered. The process was efficient and quick. Fast forms to fill in. I think the price was pretty competitive too.

Justin Leo

I was looking for business insurance…

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 in minutes.

Piers Field
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