Professional indemnity insurance is printed from £6.90 to £9.34 a month by the UK insurers and brokers that publish a price, the floor for a small, low-risk business, while firms with real fee income pay hundreds or thousands of pounds a year. What professional indemnity insurance costs is set by five things, and a business that checks them before asking gets a usable quote the same day. The profession matters most, the limit least, and the two in between are within your control.
How much does PI insurance cost: what insurers print and firms paid
The insurers and brokers that print a professional indemnity price start between £6.90 and £9.34 a month: Simply Business from £6.90, Markel and Hiscox from £8.00, PolicyBee from £8.14 for £100,000 of cover, and Jack from £9.34, each read on its own page on 11 and 12 October 2026. Those are floors for a small, low-risk business. Firms with real fee income pay a different order of figure: in Apex Insurance Brokers' placements (data extracted 6 September 2026) the middle half of architects billing about £150,000 paid £1,130 to £2,070 a year for a £1m limit, accountancy practices billing £500,000 paid £1,520 to £2,200, and chartered surveyors billing about £50,000 paid £650 to £1,430. Every figure, with the sellers that publish none, is in our professional indemnity premium index.
Professional indemnity insurance rates: profession and turnover
The profession sets the band and turnover sets the position within it. Both are facts rather than decisions, and both should be stated precisely: a consultancy that also designs is not a consultancy for rating purposes, and a business that rounds its income up is buying cover it does not need.
Limit and excess
The limit is what clients require and is usually cheaper to raise than buyers expect. The excess is a genuine lever: accepting a larger one lowers the premium and is sensible where you would never claim for a small amount anyway.
Claims history and contracts
A previous claim is underwritten, including one that settled for nothing, and what insurers want to know is what changed afterwards. Contract terms matter too: liability caps, a defined scope and consequential loss exclusions all reduce the exposure an insurer is taking on.
Other questions people ask
Why is my quote higher than a colleague's?
Usually the declared activity or the contract terms rather than size. Two similar businesses can sit in different rating bands.
Does a claim raise the price permanently?
It is underwritten for several years, and what matters most is what changed afterwards. A firm that was claimed against and then tightened its process presents differently.
Is a higher excess worth taking?
Where you would not claim for a small amount anyway, yes. It is one of the few honest levers on this premium.
Is professional indemnity insurance tax deductible?
For a self employed business, HMRC lists insurance among the financial costs that count as allowable expenses, so the premium is normally deductible where it is a business cost. A limited company's position, and your own figures, are for your accountant to confirm.
How much do public liability and professional indemnity insurance cost together?
Professional indemnity and public liability insurance cost is usually quoted as one package for businesses that need both, with each section rated on its own factors: the profession, turnover and limit for indemnity, and the trade, limit and site requirements for public liability.
How much does professional liability insurance cost?
Professional liability is the American name for professional indemnity, so the UK prices are the same: the insurers and brokers that print a price start between £6.90 and £9.34 a month for a small, low-risk business, and firms with real fee income pay far more.
What is the average cost of professional indemnity insurance?
No insurer publishes an average. They print starting prices, which are floors, and what firms actually paid depends on profession and fees: in Apex Insurance Brokers' placements the middle half of solicitors' firms paid 1.21% to 2.80% of annual fees.
How much is personal indemnity insurance?
Personal indemnity and public indemnity are usually searched for when people mean professional indemnity, which is printed from £6.90 to £9.34 a month by the UK sellers that publish a price. Public liability is a different policy, for injury and damage.
How do you calculate professional indemnity insurance?
There is no published formula or reliable calculator. An insurer rates the profession and turnover first, then the limit, the excess, your claims history and your contract terms, so the only usable figure is a quote on your own facts.
Sources
- Hiscox UK: professional indemnity insurance
- Markel UK: professional indemnity insurance (retrieved 2026-10-11)
- Association of British Insurers: liability insurance
- GOV.UK: expenses if you're self-employed
- Simply Business: professional indemnity insurance (retrieved 2026-10-12)
- Hiscox UK: how much does professional indemnity insurance cost (retrieved 2026-10-12)
- PolicyBee: professional indemnity insurance (retrieved 2026-10-12)
- Jack: professional indemnity insurance (retrieved 2026-10-12)
- Apex Insurance Brokers: PI insurance cost UK 2026 (retrieved 2026-10-12)
- apexinsurancebrokers.co.uk: Solicitor PI insurance UK, SRA MTC placement
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