Professional Indemnity insurance is the primary insurance required contractually by limited company contractors. It provides cover for the cost of professional legal representation when defending a claim, as well as any compensation or awards made against the company, arising from errors or omissions in the professional services you provide.

Contractors without Professional Indemnity (PI) insurance will almost certainly be in breach of their contract, as the vast majority of engagements now require the contractor’s business to hold PI insurance with a minimum indemnity limit of £1 million.

Many contractors incorrectly assume they are covered by the Professional Indemnity insurance held by the recruitment agency they are working through. In reality, this is rarely the case. Without their own PI policy in place, contractors and their limited companies may be personally responsible for substantial legal costs and compensation, which can easily run into hundreds of thousands of pounds.

Roots Contractor Mortgages is part of Roots Contractor – which also consists of specialist business insurance provider Roots Contractor Insurance, and IR35 status assessment experts The Contractor Compliance Portal.

The Contractor Compliance Portal is a completely free platform that allows contractors to assess the IR35 status of their engagements, obtain instant results, and download documentation to be used as evidence if HMRC open an investigation, to compare to a SDS, or just for curiosity!

Roots Contractor Insurance is a 24/7/365 quote & buy platform that allows contractors to take out contractually required business insurances such as Professional Indemnity, Public & Employers Liability and IR35 Insurance.

All companies are part of Vestura Group – a fast growing, agile and dynamic group of specialist financial services businesses.

The Professional Indemnity (PI) insurance is among the best on the market for the professions we cover, offering an exceptional balance of comprehensive protection and competitive pricing. Premiums start from just £150.00 (inclusive of Insurance Premium Tax) for £1 million of cover.

Policies can be tailored to your exact requirements, including the option to add retroactive cover for previous work and to reduce the excess from £500 to £0 in the event of a claim, all for a small additional cost.

All Professional Indemnity insurance policies are underwritten by some of the largest insurers in the world, with claims managed by leading UK legal firms. This ensures you receive robust protection, expert representation, and complete peace of mind should a claim ever arise.