David Allan

Expertly compared by David Allan

Products Updated June 4, 2018

Professional Indemnity Insurance For Letting Agents

When it comes to building a business it can take a lot of time as well as dedication and money. After you have built up your lettings business it is important that you do all you can to keep its reputation intact whilst protecting it. Our experts can set up a policy to ensure you’re fully protected against every eventuality.

2 providers expertly compared:

Learn More
All credit types
Rated 4.8/ 5

Simply Business Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Simply Business

Products
Small business insurance

speciality
Professional Indemnity Insurance

Simply Business is an insurance broker that specialises in helping small businesses get the professional indemnity cover they need to protect their business. Get a quote for a personal illustration.

2 providers expertly compared:

Available via broker only
All credit types
Rated 4.5/ 5

Hiscox

Provider
Hiscox

Products
Business Insurance

speciality
Professional Indemnity Insurance

Hiscox PI insurance is designed to protect anyone who could face claims and risks associated with such things as negligence, breach of contract, defamation. Cover is available for all business types including sole traders, partnerships and companies.

Professional Indemnity Insurance For Letting Agents

This is where professional indemnity insurance for letting agents can help protect your business in many ways. As your business provides a service and works with all manner of clients it is possible that your clients can suffer in many different ways as a result of negligence, errors or an omission. Should they make a claim it can cause damage to your finances and effectively end your business.

PI Insurance For Letting Agents

PI Insurance For Letting Agents

When a claim is made against you need protection from any costs that may be incurred which is why this cover is ideal for you. We can work with you to find the cover that you need at a cost that suits you and through a simple questionnaire we can assess exactly what you need. You will then be able to pay for any costs associated with defending any claims as well as paying any compensation.

How does it work?

This form of cover is extremely important to your business because this protection can help your business to thrive should you come across any claims made against you. This is not like other insurances as it is based on “Claims Made” and this means that if a third party opts to make a claim against you, it has to be associated to any work carried out during the period of cover. As a letting agent you will be in charge of ensuring that all properties meet the legal requirements and that any work carried out meets the legal standards, of course, errors occur and they can result in clients experiencing losses which they will want to paid back to them. This cover will ensure that you can meet all costs related to defending claims as well as paying compensation.

The features

This cover will provide you with the following features:

  • It will provide complete protection for your business ensuring that you can deal with all eventualities
  • All claims made are assessed to ensure that they are legitimate before any payment is released
  • The policy will cover you for one year
  • This is a policy that will become a crucial part of your business each year
  • The policy will protect your business financially as all costs will be covered
  • This is a “Claims Made” policy which ensures that you are protected should any claims be made relating to the time the cover is in place
  • Different amounts of indemnity available to meet the needs of your business
  • Costs associated with the loss of documentation are covered
  • Court attendance costs will be covered up to an agreed amount
  • Payment options to suit you

What are the benefits?

There are many benefits that you can take advantage of with this cover:

  • All regulations and legal requirements will be met
  • You will be reassured because you know that your business is protected should any claims be made against you
  • If the client is awarded damages by the courts or an arbitrator then you will be able to comfortably cover the costs
  • Claims can be expensive to defend but even if a claim has no support your legal costs will still be paid for
  • You will have access to representation and legal advice if required

 

We are independently reviewed by our verified customers and web users:
Rating: 4.6 / 5 with 28 votes

Lending Expert is a credit broker and comparison website, we're not a lender.

We bring together the very best financial providers and products from across the market place.

Warning: Late repayment can cause you serious money problems.
For help, go to moneyadviceservice.org.uk