Pii

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mahdi87
mahdi87 Registered Posts: 121 Dedicated contributor 🦉
in General accounting discussion
Hi guys,

I am on the way to register MIP and before that i need to get professional indemnity insurance but i dont which 1 is the best to get. does the AAT provide it PII? how much roughly is going to cost me yearly?

thank you in advance.

Mahdi87

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  • GinnyBee
    GinnyBee Registered, Tutor Posts: 131 Dedicated contributor 🦉
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    Have a look at http://www.aat.org.uk/content/item14449/ for information

    and go to http://www.trafalgar.uk.com/asp/aat-professional-indemnity.asp?a=0&useDef=1&sp=aat&r=0&fID=0 to get a quote

    Hope that helps
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    You can apply to be MIP and advise the AAT you will provide a PII certificate if granted to save the cost until you are licensed. I did this.

    I don't use Trafalgar as I found cheaper elsewhere. I pay less than £200 per year.
    Regards,

    Burg
  • mahdi87
    mahdi87 Registered Posts: 121 Dedicated contributor 🦉
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    GinnyBee wrote: »
    Have a look at http://www.aat.org.uk/content/item14449/ for information

    and go to http://www.trafalgar.uk.com/asp/aat-professional-indemnity.asp?a=0&useDef=1&sp=aat&r=0&fID=0 to get a quote

    Hope that helps

    thanks for the link i just a quote and it came up to £47.70 is that yearly or monthly? i assume its monthly???
  • mahdi87
    mahdi87 Registered Posts: 121 Dedicated contributor 🦉
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    burg wrote: »
    You can apply to be MIP and advise the AAT you will provide a PII certificate if granted to save the cost until you are licensed. I did this.

    I don't use Trafalgar as I found cheaper elsewhere. I pay less than £200 per year.

    would you mind is you gave me the provider of your PII please.

    thank you
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    I used caunce o'hara brokers. Think it can be done online but I contacted them for some clarification on the cover provided and bought over the phone.
    Regards,

    Burg
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I use HCC Insurance via RMK Consultants, they are on the AAT list.

    I pay £12 a month.

    I think that's for £250k cover.
  • wildgoose1uk
    wildgoose1uk Registered Posts: 200 Dedicated contributor 🦉
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    I pay £50 a year with Trafalgar....... but I'm just a beginner and I suspect Trafalgar will be too expensive once the Practice grows.
  • mahdi87
    mahdi87 Registered Posts: 121 Dedicated contributor 🦉
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    thank you guys will go for trafalgar as its only £47.70 and my annual income from my sole trader only 6k
  • wildgoose1uk
    wildgoose1uk Registered Posts: 200 Dedicated contributor 🦉
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    £6k from one client? I could do with a few of them......
  • mahdi87
    mahdi87 Registered Posts: 121 Dedicated contributor 🦉
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    wildgoose1uk wrote: »
    £6k from one client? I could do with a few of them......

    Yes, hes got 2 companies but now i clocked i can get more clients hopefully, i also work in a practice full time.

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