Professional indemnity cover levels?

[NickWallace87]

I have recently secured a contract and have been advised that I need to take out professional indemnity cover. I have asked my agent what level of cover I need (e.g. £1million, £2million) but they said this was my decision.

I was just looking to see if any of you had any advice or if you could let me know what cover levels you have?

Much appreciated.

[northernladuk]

You did of course try doing a search first bearing in mind most contractors need this so bound to have been discussed many times before..

A guide on how to search is below

http://forums.contractoruk.com/welco...uk-forums.html

Use the term indemnity or PI and you will find everything you need to know and a load of stuff you didn't think about as well.

[Qdos Contractor]

£1m is very much the norm in the IT contracting industry. You could go for a lower limit (although we don't provide less than £1m), but you'll probably find that the agency on your next contract specifies £1m.

So you have an idea of prices, our £1m policy for IT contractors is £147.

[NickWallace87]

Thanks for this. I will have a look through.

Just thought I would ask what the general opinion was.

[Nixon Williams]

Most of our clients tend to go for £1 million!

[northernladuk]

Thanks for this. I will have a look through.

Just thought I would ask what the general opinion was.

And if you searched you would have found it.

[NickWallace87]

And if you searched you would have found it.

Thought a forum was to get a current opinion? As I said thank you for your help I appreciate it.

I thought it would be a good idea to put it as a new thread to get up to date advise. Isnt this what CUK is designed for?

[Kanye]

Thought a forum was to get a current opinion? As I said thank you for your help I appreciate it.

I thought it would be a good idea to put it as a new thread to get up to date advise. Isnt this what CUK is designed for?

Put him on ignore mate. The forum starts to become useful when you do.

[bless 'em all]

Thought a forum was to get a current opinion? As I said thank you for your help I appreciate it.

I thought it would be a good idea to put it as a new thread to get up to date advise. Isnt this what CUK is designed for?

advice

Put him on ignore mate. The forum starts to become useful when you do.

But there's always someone else coming along behind ...

[northernladuk]

Thought a forum was to get a current opinion? As I said thank you for your help I appreciate it.

I thought it would be a good idea to put it as a new thread to get up to date advise. Isnt this what CUK is designed for?

It is but it is also a huge respository of questions, some of them asked almost weekly so all the information you need is there. The more a question gets asked the less people will help when it is asked again. To be honest, people get bored of answering the same questions. Sometimes you have to help yourself before other people will help you. Recommending accountants, what expenses can I claim, what PI do I need etc, are asked so much. As I said before researching can also help find other things you didn't know and didn't think to ask as well. You will find from you searches all the companies that offer it, the costs, the consensus of who everyone uses and also some interesting discussions on the reality of how many people actually used it and so on. You will see lots of discussion about taking on Public Liabilty at the same time, the cost and the pro's and cons. You will find QDOS is popular and they also give you 3 free IR35 contract checks as well and so on.

Doing the search you get 347 threads back. You got 2 answers in this thread. Which is more useful?

Put him on ignore mate. The forum starts to become useful when you do.

Funnily enough although Kanye suggests ignoring me he also re-enforces my point. When you become useful, the forum does. Just ask questions that we see time and time again you won't get the best help.

Am only trying to show you CUK's full potential. If it makes me look an arse on the way I don't really care. Next time you use search and get good answers quickly then I sleep a happy man.