Surveyors | Professional Indemnity Insurance
Professional indemnity (PI) insurance will protect your financial interests and your hard-earned reputation so that, if a claim is made against you, you're left free to get on with your business.
Why you need PI
When a claim is made against your professional proficiency as a skilled surveyor, it doesn't just get in the way of you doing your job - though that would be bad enough. A claim of professional negligence can undermine years of time and energy that you've invested in your profession - and potentially threaten your livelihood.
Our experience shows that very seldom do claims arise from negligent professional advice, faulty knowledge or skill. It's more likely to be administrative errors and simple disputes that escalate out of control - but whether you're at fault or not, defending yourself can be expensive - and disruptive.
At Blyth Valley, we specialise in professional indemnity (PI) insurance and have done for ten years. We understand your risks and how they can best be mitigated by having the right kind of PI in place. That's why we look to reputable insurers when placing your insurance: Hiscox, Catlin, Royal & Sun Alliance, and W.R.Berkley.
We don't just look at price alone. We look for policies which will save you hassle and unnecessary stress in the long term. We can explain what we feel the best quote for you to be, based not only on the coverage provided and the premium charged, but avoidance of steep policy excesses obscured in the small print.
If you want us to look for professional indemnity insurance tailored to your particular needs, fill in our online surveyors' quote request form and we'll use the best of our skills to safeguard yours.
Claims example
Building surveyor
As a building surveyor you were involved in signing off the completed foundations for a new build. However, though you couldn't have known it, the data used for the initial construction was incorrect, and subsidence occurred.
As always happens when something goes wrong with a build, claims were made against anyone and everyone involved, so typically, although it clearly wasn't your fault, a claim is made against you.
Because you had PI cover in place, your insurers' claims department were prepared to sort out your defence costs immediately. They picked up all your legal fees from the moment your solicitor first drafted your defence to the moment your name - as you knew it would be - was cleared.
Quantity Surveyor
Whilst preparing an indication on a proposed new build, market prices for a particular material rose sharply. Preoccupied by stressful family problems, you neglected to take this into account and consequently the estimates produced were in-accurate. The project inevitably began running over-budget.
The problem came to light whilst you were obliged to take time off work. In the interim the shortfall was traced back to your original survey. Subsequently you were informed that a claim was being made. Your broker immediately intervened to help you sort out the mess - whilst you dealt with more critical problems at home.
Because you had PI cover in place, your insurer picked up the defence and awards' costs involved, and the whole episode passed without any further repercussions.
Land surveyor
As a land surveyor you were commissioned for a new leisure centre development site. Unfortunately the measurements you took were incorrectly recorded in the initial survey. Once you identified your error you felt professionally obliged to flag up the mistake and estimates were duly revised. Naturally the developer incurred increased costs and didn't hesitate to issue a claim against you.
With PI insurance in place your insurer took control of the situation and organised legal representation on your behalf and picked up the bill for your legal costs and awards' payment.
Online quote request
Unfortunately, we're not able to offer an online quote and buy function for surveyors at this time.
However, our quote request form has been created specifically for surveyors and can be completed and submitted online.
Click here to begin quote request
Once you've submitted this form, we'll forward your information to a number of insurers in order to get the best quote for you.
While we cannot guarantee insurers' turnaround times, we'll certainly hope to have at least one quote for you within two working days.