Best Professional Indemnity Insurance

NEXT tops MoneyGeek's rankings for customer service among professional indemnity providers, serving over 500,000 small businesses with an A- financial strength rating. You can get quotes and coverage in under 10 minutes, then instantly generate certificates through their mobile app at no extra cost.

If you prefer handling insurance through apps and websites instead of phone calls with agents, NEXT fits your style. Its claims process lags behind competitors, but the trade-off works if you prefer fast quotes and instant policy access over traditional hand-holding.

NEXT ranks second for affordability among professional indemnity providers MoneyGeek studied, making quality coverage accessible for small business budgets. Your monthly premium averages $72 ($867 annually), coming in $6 below the $78 industry average. Those monthly savings add up to $72 per year, which you can put back into your business.

NEXT ranks first in MoneyGeek's study for customer service, excelling in digital experience and policy management. You can access coverage, generate certificates and manage your policy 24/7 through their mobile app without waiting for office hours.

Its claims team isn't as strong, ranking fourth nationally, and this weakness shows up in customer feedback. Customers on the Better Business Bureau say they love the fast online setup, but getting through to claims specialists takes time. NEXT has 4.5 stars on Trustpilot from over 1,200 reviews,  where policyholders consistently praise the quick quotes while expressing frustration when they need actual help with problems.

NEXT covers over 1,300 business types with customizable professional indemnity policies. If a client files a claim because of professional mistakes or bad advice, your policy handles the legal costs and settlements.

You can get prior acts coverage if you've maintained continuous professional liability insurance at similar limits. NEXT recently launched standalone coverage for consultants, with extended reporting periods up to 36 months. Your policy won't cover intentional wrongdoing, illegal activity, property damage or bodily injury claims.

The Hartford tops our affordability rankings while delivering the financial stability you want from a 200-year-old insurer. With an A+ AM Best rating, you get competitive professional indemnity rates without worrying whether it'll actually pay your claims.

You'll work with dedicated specialists who understand professional liability situations rather than generic customer service reps. The trade-off is a less polished digital experience compared to newer insurers, but that works well if you prefer talking through complex coverage decisions instead of navigating apps.

The Hartford ranks first for affordability among professional indemnity providers MoneyGeek studied. Your monthly premium averages $72 ($858 annually), coming in $6 below the $78 industry average.

You get solid professional indemnity coverage at a lower price point. Many small businesses worry about choosing between cheap insurance that might not pay claims versus expensive coverage that strains the budget. The Hartford solves that dilemma.

The Hartford ranks first for claims processing and customer service in MoneyGeek's study, which means faster resolutions when you file professional indemnity claims. You'll work with specialists who understand professional liability situations rather than getting bounced between departments.

External reviews tell a different story. Trustpilot shows 308 customer reviews highlighting problems with contacting the company and difficulties getting assistance, while BBB reviews mention issues with customer service responsiveness. If you're comfortable handling professional liability issues over the phone, its phone-based approach suits your needs.

The Hartford's professional indemnity insurance covers legal costs and settlements when clients sue over professional mistakes, with limits from $250,000 to $2 million. Most policies are written as claims-made coverage, meaning claims must be reported while your policy is active.

Your policy won't cover bodily injuries, property damage or intentional acts. You'll need separate general liability coverage for physical injury claims. The Hartford serves multiple industries and can customize coverage based on your specific professional services.

Simply Business ranks first for coverage options in MoneyGeek's professional indemnity study and third for digital experience. This online broker connects you with multiple carriers through one platform, giving you more coverage choices than a single insurer. You get quick online quotes and access to industry knowledge across 1,000+ business types.

But claims processing is slower (ranking eighth nationally), and phone support can be frustrating. If you want extensive professional indemnity options and like managing insurance online, Simply Business is a solid choice despite the claims delays.

Simply Business ranks fifth for affordability among professional indemnity providers MoneyGeek studied. You'll pay an average of $76 monthly ($917 annually), which is $2 below the $78 industry average.

The broker model keeps costs down by shopping multiple carriers for you. Instead of calling different insurers yourself, Simply Business compares options from several companies and usually finds better professional indemnity rates than you'd get going directly to one carrier.

Simply Business ranks seventh in MoneyGeek's study for customer service but excels with digital tools, placing third for online experience. The platform is good for getting quotes and managing your professional indemnity policy if you prefer doing things online.

Trustpilot shows 1,475 customer reviews highlighting quick setup and knowledgeable staff, though some customers struggle reaching the company for support. Phone support can be challenging, making the strong digital platform valuable for busy small business owners who need efficient policy management.

Simply Business is a broker that works with multiple carriers and covers over 1,000 business types. The platform lets you compare coverage terms from several insurers to find the right professional indemnity policy for your business. You can review different insurers' policy features, deductibles and limits side by side. This beats going to a single insurer and taking whatever they offer.