How much does Professional Indemnity Insurance cost within the UK?
I want to start my own part-time lettings business and need to procure Professional Indemnity. What sort of money will I be paying for this? Minimum cover required.
I just want to get a rough impression really before getting proper quotes.
Answers:
letting what, flats? construction equipment? airplanes? It matters a full lot.
How many will you be letting? What are your estimated gross receipts? All that matters. "Professional" is one type of coverage, "general" is another. Most won't deal in you professional until you also have general. I strongly suspect you don't involve professional at all, only common. If you're letting one flat, it should cost about 500 pounds a year, minimum. When you have more, the rate go down. If you're letting to a business, or letting construction equipment, the rate goes up.
I wouldn't even guess how much it costs to let an airplane, thousands and thousands. So adjectives these "guesses" are just that, and won't do you any good. You'll hold to get real quotes. Source(s): agent, 21+ years
Related Questions:
I just want to get a rough impression really before getting proper quotes.
Answers:
letting what, flats? construction equipment? airplanes? It matters a full lot.
How many will you be letting? What are your estimated gross receipts? All that matters. "Professional" is one type of coverage, "general" is another. Most won't deal in you professional until you also have general. I strongly suspect you don't involve professional at all, only common. If you're letting one flat, it should cost about 500 pounds a year, minimum. When you have more, the rate go down. If you're letting to a business, or letting construction equipment, the rate goes up.
I wouldn't even guess how much it costs to let an airplane, thousands and thousands. So adjectives these "guesses" are just that, and won't do you any good. You'll hold to get real quotes. Source(s): agent, 21+ years
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