Professional Indemnity (PI) Insurance FAQ

SJD Accountancy is proud to work with Hiscox and offer our clients a 15% discount when they purchase a business insurance product through Hiscox.

Prices start from just £25 a month (plus insurance premium tax), for terms and conditions visit

Hiscox provides specialist business insurance for contractors, freelancers, consultants and small office based professional businesses in the UK.  Hiscox have been named Best Small Business Insurer for eight years running (Source: Start Your Business Magazine) 

Professional Indemnity (PI) Insurance, Indemnity Insurance, Professional Liability Insurance for Contractors FAQ's

  1. When does cover start?
  2. I have a short term contract - why do I need annual cover?
  3. How long does it take to arrange cover?
  4. How can I pay for this insurance?
  5. Does this insurance cover work I have done in the past?
  6. What happens if I have to make a claim under the insurance policy?

1. When does cover start?
Hiscox can provide cover that starts as soon as it is purchased or from a specified date.

2. I have a short term contract - why do I need annual cover?
Professional indemnity cover is traditionally underwritten on a "claims made" wording, which means cover must be in force at the time of a claim being submitted. If you had cover in force for the duration of your contract which then ceased upon completion and a claim from your customer is submitted 2 weeks later then cover would not be in place.

Annual cover ensures you have cover for all eventualities and even if you cease contracting, Hiscox recommend you purchase run-off cover for several years to ensure you are not exposed to a claim relating to work carried out historically.

3. How long does it take to arrange cover?
You can get a tailored quote online or over the phone and cover can start immediately. Policy documentation will be emailed to you for your reference.

4. How can I pay for this insurance?
You can pay for your policy annually or by interest-free monthly Direct Debit installments.

5. Does this insurance cover work I have done in the past?
Hiscox can provide retrospective cover, covering you for similar work you have undertaken in the past. So for example, if you are an IT contractor who has done IT work in the past and wish to take out professional indemnity insurance for IT work going forward, Hiscox will cover past and present activities.

6. What happens if I have to make a claim under the Insurance policy?
For claims on Hiscox professional indemnity and all of our business insurance policies, excluding Hiscox personal accident insurance, please contact Hiscox on: 0845 213 8899 (Monday to Friday 9.30am – 5.30pm) or email:, (Office contents or buildings claims only).

For claims on Hiscox personal accident policies, contact: Van Ameyde UK: 020 8315 0732 (Monday – Friday, 9am – 5pm or email:

If you would like a tailored quote from Hiscox, please visit or call 0800 2800 358.

Which business insurance do I need as a contractor?
Professional Indemnity Insurance for Contractors
Insurance for Contractors
Contractor insurance guide

SJD Accountancy is a trading name of SJD Accountancy Ltd. SJD Accountancy Ltd is an Introducer Appointed Representative of Hiscox Underwriting Limited which is authorised and regulated by the Financial Conduct Authority. For UK businesses only.

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SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, Limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 15,000 clients.

We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

  • Unlimited face to face meetings. This is a unique service only SJD Accountancy offers - unlimited face to face meetings across the UK - tax is complicated and sometimes only a meeting will do.
  • UK's Largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
  • Money back service guarantee. All your Emails received by 4pm on any normal working day will be answered the same day. Should it be necessary to leave a telephone message it will be answered same day/following day latest or we will make a full refund of that months fee.
  • Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Accountant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
  • All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, your own dedicated accountant* and all company returns for a fixed fee starting from £120 plus VAT per month. Check our packages for more detail.

If you have any questions about contracting or would like any further advice please call our new client services helpdesk on 01442 275789 or email: Our new client services helpdesk is open Monday to Friday (8am to 6pm).

Appoint SJD Accountancy and never worry about your tax or accountancy affairs again.

Form your own Limited company with SJD - our same day online company formation service includes company bank account set up, VAT/PAYE registration and advice on optimum share structure. 

You may also find the following pages, guides and case studies useful:

*If you would like us to complete your company year end accounts we simply ask that you have been a client of SJD for one year or have made 12 monthly payments. All accountants are part or fully qualified.