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Do you need professional insurance?

Do you need professional insurance?IT professionals, lawyers, financial advisors and a range of other professionals make a living by providing specialist services to their clients. Unfortunately, things can sometimes go awry, especially within a project setting with many unknown variables relating to time and budgets.

If you make a mistake in your professional capacity, you could face a claim from an unhappy client that could hold you or your business liable for any costs incurred as a result of your professional negligence. These costs could cripple your business financially.

Medical professionals, accountants, architects, IT businesses, motor trade professionals, graphic designers, web designers and even dentists could benefit from professional insurance. If you or your business offers consultancy services or professional advice, a professional insurance policy from YOUR Insurance can provide you with peace of mind that you’ll be covered against a range of eventualities.

Why do I need cover?
There are a number of danger areas your business could be exposed to that may result in legal action being brought against you. These areas include negligence, intellectual property infringements, loss of documents or data and even dishonesty. If a dispute arises where a client claims to have suffered a loss as a result of your negligence, you could be liable for legal fees and any damages awarded should you lose.

If a client dispute does end up in court and you lose, professional insurance will cover the damages you are liable for commensurate with the level of cover you or your business is insured for. If both parties are able to come to an agreement without involving the court, professional insurance may cover the cost of fixing your mistake, as per your policy’s stipulations. It is important to note that regardless of your profession, you need to be covered if and when a claim is made against you, not at the date upon which the mistake occurred.

Find out more about our professional insurance policies, or contact us for a free professional insurance quote today.