Professional Indemnity (PI) Insurance FAQ

SJD Accountancy has set up a new partnership with Hiscox. Hiscox provides specialist business insurance for contractors, freelancers, consultants and small office based professional businesses in the UK.

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. 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 by interest-free monthly Direct Debit installments.

5. 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: Hicliability.claims@hiscox.com,  Property.claims@hiscox.com (Office contents or buildings claims only).

For claims on Hiscox Personal Accident policies, contact:Van Ameyde UK: 020 8315 0732 (Monday – Friday, 9am – 5pm) and email: Adjusters@vanameyde.co.uk

If you would like a tailored quote from Hiscox, please visit www.hiscox.co.uk/SJD or call 0845 512 1895.

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

Policies are underwritten by Hiscox Underwriting Ltd on behalf of Hiscox Insurance Company Ltd, both of which are authorised and regulated by the Financial Services Authority. SJD Accountancy is a trading name of SJD Group Ltd. SJD Group Ltd is an Introducer Appointed Representative of Hiscox Underwriting Ltd.

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 11,000 clients.

We are the only National specialist firm of accountants with offices in all major UK cities so you’ll never be far from your accountant. SJD also have more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATII, ATT, ACCA, CA, ACA, FCCA, ACMA. You’ll also be pleased to know that we are one of the lowest priced as well.

Free face-to-face meetings. This is another unique service, only SJD offers free face to face meetings - tax is complicated and sometimes only a meeting will do.
Unlimited access to your own dedicated accountant. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
Money backed service guarantee. All your telephone calls and emails will be answered the same day or we will refund your monthly fee's.
Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market.
All inclusive low cost monthly package which includes completion of accounts, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, unlimited access to your accountant and all company returns. 

All this for a fixed monthly fee of £110 plus VAT, which is one of the lowest prices in the market. And most importantly, in a recent survey 98% of our clients rated SJD as 'better than other accountants' - we are working hard to convince the other 2%!

If you have any question about contracting or would like any further advice please either contact your SJD Accountant or call our new client services helpdesk on 0500 152500 / 01442 275789 or e-mail rachel@sjdaccountancy.com.

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

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

Take home pay calculator - How much could you be taking home
Contractor FAQ - All your frequently asked questions and their answers
First time Contracting or Freelancing? - A summary of the alternatives along with pros and cons
Choosing an accountant - For a full review
Step-by-step Guide to Contracting - Download a FREE copy of our guide
Limited or Umbrella? Can't decide? - We help you decide which is best for you
Guide to Contracting - All the best guides to contracting in one place
Expenses Guide - Know exactly what you can claim
Umbrella company guide - Everything you ever wanted to know about umbrella company services
IR35 Guide - A great plain English guide to IR35

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