What is professional indemnity insurance and do you need it?
Professional Indemnity Insurance is for those who give professional advice to others in the course of their job. For example, personal trainers and sports coaches give advice to clients on a regular basis when training them. Therefore, it is essential to have professional indemnity insurance in place in case any of your clients make a claim against you or your business.
If one of your clients feels that advice you have given has caused them injury or harm then they may decide to take legal action against you. This may happen even if a mistake has not been made but you will need to cover the legal costs of defending yourself in court.
You may have years of experience and expertise in your career but there is always the chance of a mistake occurring and action being taken by a client to rectify any damage caused. However, as a professional giving advice, which is essential to any personal training or sports coaching business, you do not want to fear a claim every time you offer guidance. Therefore, having professional indemnity insurance gives you peace of mind that if a client does claim to be unhappy, your insurance will be there to cover any legal costs and put it right.
Make sure when taking out professional indemnity insurance you get the right amount of cover for you and your business. Do your research – get to know your industry and the types of claims and cover you may need. You do not want to pay for PI insurance and then discover when somebody makes a claim against you that it is not going to cover all the costs.
At Protectivity Insurance, professional indemnity up to £1,000,000 comes as standard on our personal trainer insurance, sports coaching insurance and martial arts instructor insurance giving or customers peace of mind when doing what they do best.