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Estate Agents Professional Indemnity Insurance

Whether you need cover to comply with your association/institute (such as the NAEA or RICS) PII requirements, or simply looking to protect your business from a growing number of actions being taken against property professionals, ensuring that you have the right Estate Agents Professional Indemnity Insurance cover for your business at the right price is paramount.

All of our selected comparison insurers are leaders in this field, underwriting many millions of pounds in premiums for all professions within the UK.

If you are a member of either the NAEA or RICS, then quotations provided from these selected insurers will comply with their PII requirements. Each insurer subscribes to the RICS approved Insurer’s list - please click the link below to view this.

RICS minimum PII requirements are briefly summarised below, alternatively if you would like to see the entire minimum cover requirements please click the link below to view.

Firms Turnover in Preceding Year

Minimum Limit

£100,000 or less

£250,000

RICS approved Insurer’s list

£100,001 to £250,000

£500,000

£200,000 and above

£1,000,000

RICS minimum PII requirements

In order to manage their risk adequately, some firms may wish to hold a higher level of indemnity.

For firms with fees up to £500,000, the maximum uninsured excess that they can carry is the greater of 2.5% of the sum insured, or £10,000 – for firms carrying a limit greater than £500,000 the maximum excess is 2.5% of the sum insured

NAEA minimum PII requirements are only £100,000

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Useful Links

NATIONAL ASSOCIATION OF ESTATE AGENTS (NAEA)

ASSOCIATION OF RESIDENTIAL LETTING AGENTS (ARLA)

INSTITUTE OF COMMERCIAL & BUSINESS AGENTS

NATIONAL ASSOCIATION OF VALUERS & AUCTIONEERS

ROYAL INSTITUTE OF CHARTERED SURVEYORS

DUTIES AND LIABILITIES OF CONSTRUCTION PROFESSIONALS

INSURANCE GUIDE FOR PROTECTING SMALL BUSINESSES

 

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