Why is professional indemnity insurance important to trades professionals?

Dealing with difficult customers and complaints is one of the hardest things any self-employed person or manager will encounter.

Why is professional indemnity insurance important to trades professionals?
Energy Insurance Services

Why is professional indemnity insurance important to trades professionals?

  • Chris Jordan-Pinder
  • 2022-11-08 09:47:19

No matter how good you are, when a customer is difficult, or has a legitimate complaint, it can put your reputation at risk simply because bad word spreads, and that can have a significant impact on your opportunities and your income.

Most trades professionals will have had to deal with unsatisfied customers. Unfortunately, some unsatisfied customers choose to take their complaints further and pursue legal action – especially if they feel they’ve experienced a financial loss because they followed your advice, or because they used your services. Tradesman professional indemnity insurance is specifically written to provide cover for negligence claims such as these, which will give you peace of mind just in case you do have to deal with a disgruntled client.

If I have public liability insurance (PL), why do I also need professional indemnity (PI) insurance?
Tradesman public liability insurance is a great way of protecting your business’ finances and is arguably the most common type of cover held by trades professionals. It’s a vital form of cover for any business that deals with customers as it also protects members of the public, but it has been created to cover liability claims, not for claims of negligence, bad advice and poor quality work.

PI is also a great way to protect your business financially, but will also provide cover for alleged poor advice, negligence, and for issues with designs that affect your clients and cause them a financial loss.

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