If you provide advice, consulting or professional services in London — whether in property, surveying, architecture, finance or business consultancy — you face the risk of being held liable for errors, omissions or negligent advice. Securing professional liability insurance (also known as professional indemnity or E&O cover) is key. But to get it right you need to understand how to obtain and evaluate insurance quotes.
At Fraser Bond we help professionals and property-service providers in London interpret quotes, assess cover adequacy, and align insurance with their risk, compliance and asset-strategies.
A quote is the insurer’s estimate of the cost to provide cover for your business. For professional liability insurance it summarises:
The limit of indemnity (e.g., £250,000, £1 m, £5 m) — maximum the insurer will pay.
The premium or cost you’ll pay (annually or monthly).
The excess (amount you pay first if a claim arises).
The policy period (usually 12 months).
The scope of cover — what services/activities you’re insured for, any sectors excluded.
The retroactive date or prior-work cover (if applicable).
The terms and conditions/exclusions — what is not covered.
For example, comparison platforms show quotes might start as low as £6.46/month for some low-risk professions.
When insurers calculate your premium and quote, they consider:
Your profession or trade — higher risk sectors (e.g., architecture, engineering) pay more.
Business size / turnover — larger turnover or multiple employees increases risk.
Limit of indemnity chosen — higher limits = higher premiums.
Claims history — any prior claims or known exposures increase cost.
Contractual requirements — clients may demand minimum cover before you win work.
Scope of services — whether you provide pure advice, design work, or tangible outcomes.
Location and market — working in London or with high-value property clients can elevate risk and cost.
Some providers quote from around £6/month for small freelancers in low-risk professions.
Comparison data show monthly premiums in the range of £7-£46/month for common professional/service trades.
For higher risk fields (surveyors, architects) limit selection might be £1-5 million indemnity.
Quotes are very much customised — what you pay will depend on your individual risk profile and needs.
Fraser Bond recommends these steps when you’re reviewing quotes for professional liability cover:
Ensure the limit is adequate — Does it meet contractual/client requirements? Is it sufficient for your size and risk?
Check retroactive/previous work cover — If you’ve done work before obtaining the policy, make sure you’re covered.
Review exclusions — Some policies exclude certain services, jurisdictions or claim types.
Compare insurer strength & claims service — Not just price matters; reliability counts.
Align with other insurance — Ensure you also have public liability, employers’ liability if required; professional liability covers only your advisory risk.
Check premium vs excess — A lower premium may come with a high excess that could hamper you in a claim.
Review annually — As your business or service base changes (especially in London property context), your risk and therefore your quote may change.
At Fraser Bond we bring specialist insight into:
How your professional risk ties in with property, asset and compliance exposures in London.
Helping interpret quotes so you’re not under-insured or over-paying.
Supporting you in aligning insurance with your contracts, services and industry demands.
Reviewing your insurance structure as your business grows or changes terrain.
Ready to secure relevant professional liability insurance quotes for your London business or advisory service?
Visit FraserBond.com or contact our London advisory team today — we’ll help you obtain, compare and interpret quotes so your cover matches your risk, service scope and growth ambitions.
