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Professional Indemnity Insurance to fit your budget
Get up R100 million in cover
Expert claims handling while you focus on growing your business
Protection for your balance sheet and reputation
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Professional cover for when things don’t go according to plan
Professional indemnity insurance is all about having your back when things don’t go to plan. Whether you’re crunching numbers, giving legal advice, guiding business strategy, or working on a construction project, even the pros make mistakes. And when that happens, claims from clients can cost you time and money and cause unnecessary stress. Professional indemnity cover is here to protect you and your business, so you can keep focusing on what you do best, knowing that Budget Insurance has got you covered if things go sideways.
What is Professional Indemnity Insurance?
Professional indemnity is essential for anyone offering expert advice or professional services. Mistakes can happen, and if they do, this cover protects you from financial and reputational consequences. It’s there to support you if a client claims your advice or services caused them financial loss.
Who needs Professional Indemnity Insurance?
This cover is designed for individuals or businesses who provide professional advice, often holding specific qualifications in their field. Professionals who typically need this cover include:
Accounting and bookkeeping
Cover for claims related to errors in financial reporting, or tax advice, which could result in financial loss or penalties for clients.
Legal professionals
Cover for oversights, or misinterpretations that could negatively impact a client’s case, contract, or outcome.
Real estate professionals
Cover for the consequences of administrative or management mistakes that cause clients to suffer financial loss.
Built environment professionals
Cover for risks tied to design errors, structural miscalculations, or planning oversights in construction and development projects.
Accounting and bookkeeping
Cover for claims related to errors in financial reporting, or tax advice, which could result in financial loss or penalties for clients.
Legal professionals
Cover for oversights, or misinterpretations that could negatively impact a client’s case, contract, or outcome.
Real estate professionals
Cover for the consequences of administrative or management mistakes that cause clients to suffer financial loss.
Built environment professionals
Cover for risks tied to design errors, structural miscalculations, or planning oversights in construction and development projects.
Get a Professional Indemnity Insurance quote with Budget
Securing the future of your business with affordable, comprehensive cover tailored to the risks of your profession. Get a quote today and protect your business with Budget Insurance.
What does Professional Indemnity Insurance cover?
This insurance protects your business by covering your legal liability if a client claims losses due to your negligence, errors, or omissions in the services you provided. If you’re found legally liable, we’ll settle covered claims. If not, we’ll defend you in court. Additionally, we cover legal expenses if you need to recover professional fees owed to you.
Defence costs
We cover all costs incurred in the investigation, defence or settlement of any claim made against you.
Defamation
We cover claims against you for unintentional defamation committed by you.
Fee recovery
Covers the cost of recovering outstanding professional fees through legal action.
Employee dishonesty
Cover for losses a third party suffers as a result of a dishonest, fraudulent, malicious or criminal act committed by an employee without your knowledge or consent.
Intellectual Property
Cover for unintentional infringement of intellectual rights you commit and for which you are legally responsible.
Sub-contractors
Cover for services that you sub-contract subject to certain terms and conditions.
What’s not covered?
While Professional Indemnity Insurance offers broad protection, there are some exclusions.
Liability assumed in contract
We don't cover additional onerous liability you accept in a contract that would not have ordinarily attached to you.
Intentional misconduct
Any deliberate, dishonest, fraudulent, or criminal acts aren’t covered.
Rectification costs
We don’t cover the costs of fixing or redoing your work.
Liability assumed in contract
We don't cover additional onerous liability you accept in a contract that would not have ordinarily attached to you.
Intentional misconduct
Any deliberate, dishonest, fraudulent, or criminal acts aren’t covered.
Rectification costs
We don’t cover the costs of fixing or redoing your work.
Why choose Budget Insurance for Professional Indemnity cover?
Affordable protection
Get reliable, budget-friendly cover so your business is always protected.
Specialist support
Our expert team helps guide you through claims to give you peace of mind.
Trusted by professionals
Budget Insurance is trusted by countless professionals for solid coverage.
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Frequently Asked Questions
Who is considered a professional?
A professional is someone who has significant education and training in their field and adheres to ethical and industry standards.
Do you need to belong to an relevant association?
Yes, it is a policy condition that you are a member in good standing of your relevant industry association.
Are all errors covered?
No, there are exclusions applicable to this policy. One of the most important is gross negligence.
Do you have to take out a policy for each professional in your employ?
No, this insurance is for your business and includes your suitably qualified employees.
Don’t delay, cover your business today
Get a quote nowBudget is a licensed non-life Insurer and Financial Services Provider. Terms and Conditions online.