Professional Indemnity (PI) insurance is essential for those who offer design advice as part of their service. PI insurance covers an ‘act, error or omission in design or specification’ and gives you and your client great peace of mind.
If you’re offering advice to your customers, you need to make sure you’re covered. If you provide advice to your customers – like how to set out a kitchen or bathroom – a mistake or misunderstanding around the information you give could see you facing a legal claim.
Doesn’t my Public Liability (PL) Insurance cover this?
If you charge fees for your service and advice, most public liability policies will exclude claims for injury or damage arising from a breach of your professional duty.
How is a Professional Indemnity (PI) claim triggered?
A public liability claim can only be initiated if there is third-party injury or property damage. A professional indemnity claim, however, can be instigated by a financial loss to your client or a third-party contractor as a consequence of an error or omission considered to be a breach of your professional duties.
KBDi have worked closely with their insurance partners, CMIB, to tailor a combined Professional Indemnity and Public Liability Insurance Policy that best reflects the services carried out by kitchen, bathroom and interior designers. And they’ve leveraged their group buying power to negotiate a hard-to-beat rate, with premiums starting from just $690.
Click here to learn more and get a no-obligation quote today.
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