Professional Indemnity insurance

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nkarwa
nkarwa Registered Posts: 6 New contributor 🐸
in Bookkeeping
Hi, I am applying for Accountnacy license, so need to buy a professional indemnity insurance from AAT recommended Insurer. Should I buy just professional indemnity cover upto £250000 or less? Also should i buy addtional cover like legal expense, cyber etc?

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  • charlenebb
    charlenebb Registered Posts: 40 Regular contributor ⭐
    edited April 2023
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    Hi
    I am looking at insurance coverage as well. I have decided to just get the basic professional indemnity cover for now. I will increase when I build up clients. Starting a business is proving to be quite costly with cover, License fees, DBS checks, and data protection fees. That's what I am going to do.

    I am not sure but I think the cover would be based on the client's turnover. e.g. If you did something wrong and it was more than £100K then you would only be covered for that amount. I suppose you could increase it once you get going.
  • Neillaw
    Neillaw Registered Posts: 307 Dedicated contributor 🦉
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    Try Trafalger
    AAT have an agreement with them which gives us a discount.

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