UK Professional Indemnity Insurance Cost Calculator (2026)

Reviewed by Matthew Bartlett, Director · Last reviewed 8 July 2026

This calculator produces an illustrative range for professional indemnity insurance premiums in the UK based on publicly available regulatory frameworks and market averages across 2024-2026 placements. It is not a quote, not advice, and not tied to any specific insurer's appetite. The actual figure for your firm depends on your claims history, work profile, financial position and the underwriter you are placed with. Use it to set expectations, then talk to a broker for a real indication.

How the calculator works — and why the limit options change

The output is a range built from a small formula. Base rate is a percentage of your annual fee income or turnover, adjusted for four multipliers: sector risk, cover limit chosen, claims history, and a small volatility band. The result is expressed as a low-to-high spread because real premiums vary by 30-60% around the average depending on how the underwriter reads your specific work profile and how your specific insurer's book is running.

The limit dropdown adapts to your profession because several UK professions have regulator-imposed floors. Solicitors cannot buy £1m limit of indemnity for their SRA-regulated work — the SRA Minimum Terms and Conditions require £2m any-one-claim for sole practitioners and traditional partnerships, and £3m for LLPs and incorporated practices. Accountants under ICAEW Bye-law 61 must meet a 2.5× fee income floor. Surveyors under RICS Rule 9 sit on a turnover-banded scale. IFAs and insurance brokers face FCA-prescribed minima. Where a floor applies, the calculator hides the options below it.

Sector risk multipliers

Different professions carry different aggregation and severity profiles:

• Solicitors: higher end due to SRA MTC's strict wording, six-year run-off requirement, and conveyancing tail exposure. Base rate ~0.6-1.4% of gross fees for £2m primary at small firms; higher for firms with residential conveyancing over 30% of book.
• Accountants: ICAEW Bye-law 61's 2.5× fee-income floor; audit and R&D tax credit specialists rated higher; base rate ~0.4-1.0%.
• Architects: highly variable post-Building Safety Act 2022 s.135 (30-year residential lookback). Base rate ~0.7-1.6% for small practices without high-rise residential exposure.
• Surveyors: RICS Rule 9 turnover-band scale drives compliance; Red Book valuation carries the sharpest severity. Base rate ~0.5-1.3%.
• IFAs: Investment advisers without DB transfer permissions typically 0.4-0.9%; historic BSPS or unregulated introducer exposure much higher. FOS jurisdiction limit at £430k (post-1 April 2019) is a big severity driver.
• Engineers: Structural and civil rated higher than mechanical or electrical due to BSA 2022 s.135 and collateral warranties. Base rate ~0.4-1.0%.
• IT consultants: among the lower base rates ~0.3-0.7%; software project failure claims can be severe; cyber overlap creates gap risk.
• Management consultants: ~0.3-0.8%. No statutory minimum limit; contract-driven exposure.
• Insurance brokers: FCA MIPRU 3 minimum limits apply; base rate ~0.5-1.1% depending on classes handled and appointed-representative status.

Limit multipliers

Doubling the limit does not double the premium. Excess-layer capacity is priced at a fraction of the primary. Rough relationship relative to a £2m reference: £500k → base × 0.60; £1m → 0.75; £2m → 1.00; £3m → 1.20; £5m → 1.45; £10m → 1.80.

Claims-history multipliers

Claims record is one of the largest single drivers. Typical multipliers: clean 1.00; one minor / notification only 1.15; one paid claim 1.40; two or more paid claims 1.80.

What the calculator does NOT know

Every underwriter will ask questions the calculator cannot see, and these change the number materially: contract types you work under, client concentration, historic run-off exposure, regulatory changes since your last renewal, and insurer appetite. This is why the calculator produces a range. The real number comes out of an underwriter's assessment, not a table.

FCA notes

This tool produces an illustrative range for information only. It is not a quote, not personal advice under FCA COBS, and not a financial promotion tied to a specific product or insurer. The ranges are based on publicly available regulatory frameworks (SRA MTC, ICAEW Bye-law 61, RICS Rules of Conduct, ARB Standard 8, FCA COBS 9, FCA IPRU-INV 13, FCA MIPRU 3, Building Safety Act 2022 s.135) and published market averages from 2024-2026. Apex Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority (FRN 724952). Registered in England and Wales, Companies House 07014570.