Professional Indemnity Insurance FAQs

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) 

What is professional indemnity insurance?

Professional indemnity insurance – also known as PI insurance – covers against claims in relation to mistakes or negligence in your work. It is also used to cover any expenses incurred in your defence.

You can find more information in our guide.

Do I need professional indemnity insurance?

Anybody who provides a professional service should consider taking out PI insurance. No matter how careful you are mistakes can happen during work. If you fall victim to any mistake, there is a possibility that this could cause a significant financial loss. 

When does cover start?

Hiscox can provide cover that starts immediately after purchase on a specific date. 

Why do I need annual cover if I have a short-term contract?

It is recommended that you take out PI insurance even if your contract only lasts for a short period of time. Even if your insurance only ran for the duration of your contract, if a claim was made against you any time after, you would not be covered.

This is why you should consider taking out an annual policy as this can provide reassurance that you will be protected indefinitely. 

How long does it take to arrange cover?

You can get a tailored quote online or over the phone and cover can begin immediately. Policy documentation will be emailed to you for reference. 

How can I pay for insurance?

You can pay for your policy annually or by interest-free monthly Direct Debit instalments. 

Does 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. If you would like to take out professional indemnity insurance, we can cover the work you have done in the past as well as all work moving forward. 

Contact Hiscox

Hiscox’s professional indemnity insurance is tailored to the needs of contractors and can protect your business against claims. 

For claims on Hiscox professional indemnity and all other business insurance policies, you can get in touch using the details below:

Telephone: 0845 213 8899 (Monday to Friday 9.30am – 5.30pm)

Email: (Office contents or buildings claims only)

Call Back Request (mobile)

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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.
  • Our Customer Promise. Respond to any question sent to your accountant or any dedicated department within 24 hours.  If we need more time, we will update you as soon as we can and we promise to keep you informed of the progress we are making in answering your question.
  • 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 business team on 01442 275789 or email: Our new business team is open Monday to Thursday (8am to 8pm), Friday (8am to 7pm) and Saturday (10am to 4pm)

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.