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PI Insurance providers

Quotes required for ICAEW Sole Practitioner

Hi all,

Looking to obtain PI Insurance as a qualified ICAEW member setting up a practice. 

Can anyone recommend a decent value insurer? Currently being quoted about the £200 mark for an annual policy from Direct Line and AXA for a 1st year practice with low turnover expected in year 1 (under £10k). Is this price about the norm? Any recommendations for insurers welcome. 

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12th Jan 2019 16:53

It's not bad. You might be able to chip a few quid off but up to you to decide whether it's worth the effort.

There's obviously some base level of premium below which it's not worth the insurance company's time and trouble to set up the policy. I'd be surprised if that base level was a lot less than £200.

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By Matrix
12th Jan 2019 17:03

Try Bluefin. You get Abbey Tax helplines included.

I think my insurance was nearer £150 in the first year so no harm shopping around.

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12th Jan 2019 17:27

Value your time because it’s a scarce resource. Hopefully your clients won’t be quite as price sensitive as you.

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12th Jan 2019 21:26

That sounds right to me. There is a minimum charge and I paid £200.40 to another provider in November 2018 for £60k turnover. You will struggle to get it lower than this.

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13th Jan 2019 19:50

I use Bluefin Professions (now Jelf). The cover they provide me is underwritten by AIG. £210 per year, been with them 3 years.

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