Cheap Professional Indemnity Insurance For Contractors

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Professional Indemnity Insurance cost

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What is Professional Indemnity Insurance?

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Do I need Public Liability insurance?

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Do I need Professional Indemnity insurance?

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What does Professional Indemnity Insurance cover?

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Professional Indemnity Insurance

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Insurance for Electricians

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How to become a contractor

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Insurance for Personal Trainers

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Insurance for IT Professionals

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Insurance for Tradesmen

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Insurance for Architects

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Business Insurance Melbourne

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Business Insurance Perth

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The Benefits of Independent Contracting

... a safety net for yourself—just in case. There are different types of insurance that you might consider as a contractor, including: Professional Indemnity - Even a small mistake in your work can cause big problems on a ...

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Public Liability Insurance In Brisbane

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Insurance for Painters

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Insurance for Disability Workers

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Public Liability Insurance for Cabinet Makers

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What is Civil Engineering

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Managing Risk for Tradesmen

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Insurance for Landscapers

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Professional Indemnity Insurance for Consultants

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7 Facts about Professional Indemnity insurance

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Who needs Professional Indemnity insurance?

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Professional Indemnity for Real Estate Agents

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Professional Attire Insurance

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Reviews related to Cheap Professional Indemnity Insurance For Contractors

  • all good

    Rommel L
    Building Engineering Consulting Service (Except As Prime Contractor)

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    Christos T
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Easy as, great price for the stuff I need

    Stuart R
    Fencing Contractor

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    Raphael S
    Tiler / Tiling Contractor

  • Easy to use

    Darcie P
    Electrician/Electrical Contractor - Domestic

  • Easy to use site

    Wayde M
    Building Engineering Consulting Service (Except As Prime Contractor)

  • good and fast

    Philip S
    Fencing Contractor

  • Great experience, easy, streamlined and clear to understand.

    Simon L
    Electrician/Electrical Contractor - Domestic

  • Great help and cover

    Jade M
    Tiler / Tiling Contractor

  • Great Work

    Shannon P
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Need additional cover such as worksafe

    Peter C
    Building Engineering Consulting Service (Except As Prime Contractor)

  • nice and easy

    David P
    Electrician/Electrical Contractor - Domestic

  • Nice and easy thank you

    Joseph S
    Waterproofing Contractor

  • Nice, quick and competitive in price.

    Rob K
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Process so far has been very easy, I look forward to doing business with you in the future.

    Simon M
    Tiler / Tiling Contractor

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    Timothy P
    Electrician/Electrical Contractor - Domestic

  • So easy

    Cobus S
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Thank you. Very easy great to use.

    Jason J
    Electrician/Electrical Contractor - Domestic

  • Thanks

    Grant H
    Fencing Contractor

  • Thanks you for call me.

    Alejandro R
    Tiler / Tiling Contractor

  • Too easy, Campese!

    Paul S
    Building Engineering Consulting Service (Except As Prime Contractor)

  • very easy to use

    Stuart D
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Very good website, easy to use, enough information to make a decision

    Michael L
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Very quick and easy to use

    Shane N
    Waterproofing Contractor

  • very quick and easy, the only problem was i could not get my promo code neis33 to apply to final payment but i went ahead anyways.

    Dylan P
    Fencing Contractor

  • Very user friendly! Thanks

    Paul S
    Building Engineering Consulting Service (Except As Prime Contractor)

  • VERY USER FRIENDLY, ESPECIALLY WHEN NEEDING TO UPDATE DETAILS

    Vaun R
    Waterproofing Contractor

  • Website was very user-friendly with plenty of options.

    Gary P
    Building Engineering Consulting Service (Except As Prime Contractor)

  • Easy to get what you need sorted out quickly, simple design. Even a silly tradesman can work it out.

    Simon J
    Fencing Contractor

  • Easy & intuitive website for generating multiple professional indemnity quotes. Good personal follow-up by friendly brokers.

    Malindi M
    Management Consulting Service

Professional Indemnity insurance

Professional Indemnity insurance is designed for professionals who provide a specialist service or advice, providing protection for financial loss and legal costs in the event of a claim. This claim may be a result of an actual or alleged negligent act, error or omission whilst providing your professional service or advice.

Here’s the lowdown on Professional Indemnity insurance*

You’re a professional and there is no doubt you are good at what you do. However, mistakes happen even with the most professional operators

Professional Indemnity claims can arise from simple things like

  • giving incorrect advice
  • a miscalculation
  • incorrect diagnosis or treatment
  • an act, omission or breach of duty
  • engaging in misleading or deceptive conduct
  • loss of documentation
  • inadvertently defaming someone
  • failing to meet a deadline
  • not meeting your clients expectations

Professional Indemnity explained further…

Excellence in Customer Service


Independent feedback from our customers rated our service at excellent.

What’s typically included?*

Depending on the Professional Indemnity policy selected, your policy could cover you for liabilities arising from but not limited to: non-intentional or non- deliberate professional misconduct such as:

  • Providing your client with misleading or negligent advice
  • Breaching your professional duty
  • Confidentiality and other privacy breaches
  • Defamation, libel or slander
  • Loss of or damage to documents
  • Infringement of intellectual property
  • Payment of compensation as a result of a claim, including but not limited to Court awarded damages
  • An award of legal costs against you
  • Reasonable legal costs incurred in defending or responding to the claim
  • Claim investigation costs
  • Disciplinary proceeding costs
  • Depending on the type of Professional Indemnity insurance policy you have, it may extend to provide cover for public relation costs to help protect your business’ reputation

For allied health professionals your Professional Indemnity insurance policy extends to provide cover for bodily injury or illness claims arising from the professional services covered by the policy.

What is typically not covered?*

  • Intentional damage or misconduct
  • Contractual liabilities
  • Professional fees refunds
  • Known claims and circumstances that may have occurred prior to the period of insurance
  • Acts of fraud and dishonesty
  • Accidental injury and property damage ( these kind of claims would typically be covered by Public Liability insurance)

How Much Cover Should I have ?

With BizCover you can choose policies with levels of cover between $250,000 to $10 million, from the leading insurers on our website.

When considering how much cover you may need you should think about:

  • What are the potential risks (what could go wrong) and what could be the potential cost of a claim if something does go wrong?
  • The value of projects you work on or the value of your services
  • Any statutory requirements for your profession
  • The requirement of any professional body or association of which you are a member. Remember, as your business grows it is important to reassess your exposure to risk and increase your level of cover accordingly.

Why choose BizCover for your Professional Indemnity insurance

Built for small business

We know insurance and what makes small businesses tick.

Clear and competitive pricing

You can compare and choose from a range of highly competitive prices right there on your screen.  Seriously.

Cover to match your needs

You can tailor policies from selected Australian insurers to suit the needs of your business, and we are there to help!

Real people adding real value

Our friendly service team is on hand and on a mission to make you smile!

Frequently Asked Questions on Professional Indemnity Insurance

Professional Indemnity insurance* can protect those who provide professional advice or services to their clients. Some of these traditional occupations include accountants, architects, engineers and many more. 

Even for those in more hands-on professions like life coaches, consultants and event managers can still consider the benefits of Professional Indemnity insurance.  

Regardless of which industry you operate in, as a professional, you have a responsibility to deliver professional advice and services of the highest quality. A professional indemnity policy is intended to provide financial protection if a client were to make a claim against you for negligent acts or omissions in the provision of your professional service or advice. Could your business afford the legal fees and associated costs that come with a claim?

Professional Indemnity insurance is not always mandatory requirement.  However, for some professions it is a legal requirement or a mandatory requirement as part of the professional licence or membership to the relevant industry association. It can also be a contractual requirementIt is always best to check with your relevant industry body if it is a legal requirement and if a minimum level of cover is required. 

When it comes to the cost of your Professional Indemnity insurance, there’s no one price fits all policy. Every business is different, with each occupation carrying a different level of risk. The general rule is – the higher the risk, the higher the premium. 

These factors can also impact the cost: 

  • Your business revenue  
  • Size of your business 
  • Amount of coverage required 
  • Who is being covered by the policy? Are they qualified to perform the job 
  • Claims history 

 You can find more information here on Professional Indemnity cost and pricing factors. 

While both types of policies are there to protect your business against third-party claims that may occur from your business activities, they cover very different liabilities.  

Public Liability insurance* protects your business if a customer, supplier or member of the public are injured or sustain property damage as a result of your negligent business activities. It also assists with the legal costs associated with managing claims covered by the policy. 

Professional Indemnity insurance is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. It will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.  

Management Liability insurance* protects directors and officers and the insured company itself from the many exposures relating to the management of a company. Owners and those responsible for the management of a company have specific responsibilities which can result in personal liability for alleged or actual wrongdoing. 

Management Liability is often offered as a packaged product including Directors and Officers Liability, Corporate Liability, Employment Practice Liability, Crime and Statutory Liability. 

 Professional Indemnity protects you against losses claimed by a third party due to alleged or actual negligence or errors in your professional services or advice.  Your Professional Indemnity insurance will meet the associated compensation payable to a third party together with your defence costs (which can include legal costs, investigator costs and expert fees). 

When it comes to making a claim on your insurance, we understand that it can be a difficult time and that’s why we want to make it as stress-free as possible. To help guide you through, we’ve created a simple outline of the claims process. 

Start the claims process by downloading and completing our claims form 

 Please email the completed form to our friendly claims team at [email protected]. 

We process all our claims online so you can lodge it anytime, 24/7.  

Leave the rest with usOnce we receive the claim form, we then manage the claim directly with the insurer. We pride ourselves on handling claims promptly, keeping you up to date every step of the process.  

Top tips to help speed up the claims process: 

  • Fill out the form correctly with all the required details, as accurately as possible. 
  • Include any relevant documents, photos, invoices etc. 
  • Check your policy excess. If the amount you are claiming for is less than the excess, then it may not be worth claiming.
 This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.