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Cheap professional indemnity insurance November 2026
Get covered against claims of negligence without overpaying. Here's what professional indemnity insurance costs and how to bring it down.
Key takeaways
- We compared prices from 6 business insurers and found that the cheapest professional indemnity insurance policy cost around $35.8 a month.
- While prices will differ depending on factors like the business you operate and how much you earn, the quotes can be a helpful gauge of what you could be paying.
How much does professional indemnity insurance cost?
That's tough to say. It'll depend on a few different factors including the type of work you do, your annual revenue, and the level of cover you'd like.
We put every effort into ensuring information on Finder is accurate. This article was reviewed by Justine McLean from our Editorial Review Board as part of our fact checking process.
In September 2026, we requested three different quotes from six different insurers, to get a picture of how much professional indemnity insurance might cost for a self-employed tax agent with $150,000 annual revenue. Here's what we found:
| Insurer | Cost for $250,000 cover | Cost for $500,000 cover | Cost for $1,000,000 cover | Excess payable on claims |
|---|---|---|---|---|
 | $304.70 | $396.28 | $609.95 | $1,000 |
 | $426.80 | $426.80 | $426.80 | $0 |
 | $403.91 | $426.80 | $518.38 | $0 |
 | $365.86 | $365.86 | $530.29 | $1,000 |
 | N/A | N/A | $652.18 | $0 |
 | $406.02 | $406.02 | N/A | $0 |
| Average cost | $381.46 | $404.35 | $547.52 | $333.33 |
Data was taken from our quoting engine in September 2026 based on a sole trader tax agent looking for professional indemnity insurance cover.
What does cheap professional indemnity insurance cover?
Professional indemnity insurance covers you for legal costs, so you can defend yourself and pay damages if you're found to have done something wrong. It can cover you for:
- Breach of duty. For example, if you fail to lodge a client's paperwork in time.
- Breach of privacy or confidentiality. For example, you misplace or lose a client's personal information.
- Defamation, libel or slander. For example, you damage someone's reputation by publishing something online.
- Intellectual property infringement. For example, you accidentally breach copyright laws.
- Legal fees. For example, legal costs associated with defending yourself should you be accused of negligence.
- Reputation repair. For example, public relations costs associated with repairing your reputation if it's damaged.
How to find cheap professional indemnity insurance cover
Get multiple quotes
Although we can't tell you exactly how much you'll pay for a policy, there's nothing preventing you from clicking through, answering some questions about your business and getting quotes from a handful of insurers.
Speak to a broker
An experienced insurance broker can be a pretty effective way of finding a cheap policy. They can look at multiple different brands for you and provide you with a bunch of different options.
Select a higher excess
The higher the excess you choose, the cheaper your professional indemnity insurance premiums will be. Just remember that you'll need to pay this excess whenever you make a claim.
Who can get cheap professional indemnity insurance?
If you offer expert services or advice to clients, you probably need professional indemnity insurance. It can be useful for:
- Pest inspectors
- Building inspectors
- Accountants
- Tax agents
- Lawyers
- Solicitors
- Engineers
- Architects
- Bookkeepers
- PR consultants
- Business consultants
- Real estate agents
- Life coaches
- Mortgage brokers
Talk to a broker about cheap professional indemnity policies
FAQs
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How much would it cost to have PI minimum $2M and PL minimum $5M?
Hi Kris, To get a quote specific to your situation you can enter your details in the form and a broker will follow up with you directly.