Estate Agents, Letting Agents, and Land Agents | Professional Indemnity Insurance
This insurance complies with the requirements of the Ombudsman for Estate Agents.
A specialist professional indemnity (PI) insurance policy from Blyth Valley will protect your financial interests if a claim is made against you in the course of your work for clients.
Why you need PI
Whether people are looking to buy, sell, or rent, you're involved as a professional to help your clients make the right decision.
hat's exactly why you need the protection of your own professional indemnity insurance.
As a professional, you owe a legal duty of care to your clients. And in today's litigious society, people who use professional services are more likely than ever to blame the professional when things go wrong.
At Blyth Valley, our experience shows that very rarely do claims arise from negligent advice, knowledge, or skill. More than 70% of claims arise from administrative errors or simple misunderstandings that escalate out of control.
If things do go wrong, your professional indemnity insurance will step in to protect you against any claims of negligence that arise during your work for clients. It will pay your defence costs and any compensation for which you are found liable.
Claims example
A letting agent advised their client to purchase an insurance policy that guaranteed receipt of rent. So, when tenants of the property left the country with over £5,000 due in unpaid arrears, the client sensibly tried to claim his rent from insurers.
However, the client's claim was refused as he had failed to advise insurers within 31 days of the first rent arrears. He was unaware of such a clause and, as the letting agent's terms and conditions read that they would instigate claims under the rent guarantee insurance, he pursued them to make good his loss.
The letting agent's professional indemnity insurance stepped in to pay the costs before any legal proceedings began.
Quote and buy online
You can buy our specialist professional indemnity insurance policy – underwritten by Hiscox – online. Before you do, please take a read through the policy wording and summary of cover.
Ready to buy? Get quote now
If you need any more information, require a bespoke quotation due to your business activities, or simply prefer to buy over the telephone, please call us on 0845 370 9030 between 9 and 5.30, Monday to Friday.