How much does professional indemnity insurance cost? UK guideline ranges 2026
These are guideline ranges — not quotes
What might your PI premium look like?
A guideline range built from the premiums insurers have actually quoted on risks we handle. Pick your profession and enter a few details — it updates instantly.
Choose your profession and enter your fee income to see a guideline range.
How these figures are produced
This guide is built from Apex's own market data: the premiums insurers have actually quoted and charged on professional indemnity risks we have handled. Each night that data is aggregated into anonymised rate bands by profession, fee income and limit of indemnity. No client information is published — a band only appears where it contains at least five separate records, and unusually high premiums are excluded so a single atypical risk cannot distort the guide.
The range shown spans the typical spread of recent market outcomes for similar risks. Individual quotes can fall outside it in either direction. Figures exclude insurance premium tax at 12%.
This calculator is not a quote and is not an offer of insurance or advice. Your actual premium depends on full underwriting of your business, including your activities, claims record and insurer appetite at the time.
Every figure below is a guideline range, not a quote, shown before Insurance Premium Tax (currently 12%). A real premium depends on full underwriting of your firm — your activities, claims history and each insurer’s appetite at the time. Try the interactive calculator on our homepage →
Guideline PI premium cost — common questions
How much is professional indemnity insurance for a solicitor in the UK?
A solicitor with £150,000 in annual fee income typically sees a guideline range of £3,500–£6,400 for professional indemnity insurance at a £2m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a accountant in the UK?
A accountant with £150,000 in annual fee income typically sees a guideline range of £675–£1,050 for professional indemnity insurance at a £1m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a architect in the UK?
A architect with £150,000 in annual fee income typically sees a guideline range of £1,350–£2,500 for professional indemnity insurance at a £1m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a chartered surveyor in the UK?
A chartered surveyor with £150,000 in annual fee income typically sees a guideline range of £1,200–£2,650 for professional indemnity insurance at a £1m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a quantity surveyor in the UK?
A quantity surveyor with £150,000 in annual fee income typically sees a guideline range of £1,250–£2,200 for professional indemnity insurance at a £1m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a engineer (civil / structural) in the UK?
A engineer (civil / structural) with £150,000 in annual fee income typically sees a guideline range of £3,100–£5,300 for professional indemnity insurance at a £1m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a financial adviser / ifa in the UK?
A financial adviser / ifa with £150,000 in annual fee income typically sees a guideline range of £4,200–£6,300 for professional indemnity insurance at a £2m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a insurance broker in the UK?
A insurance broker with £150,000 in annual fee income typically sees a guideline range of £2,450–£4,700 for professional indemnity insurance at a £2m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
How much is professional indemnity insurance for a management consultant in the UK?
A management consultant with £150,000 in annual fee income typically sees a guideline range of £450–£1,150 for professional indemnity insurance at a £1m limit of indemnity. This is a guideline range, not a quote, and excludes Insurance Premium Tax.
Guideline PI premium ranges by profession
Read across from your profession to your nearest annual fee income. Each figure is the guideline range at the limit shown — not a quote.
| Profession | £50k fees | £100k fees | £150k fees | £250k fees | £500k fees | £1m fees |
|---|---|---|---|---|---|---|
| Solicitorat £2m limit | £1,850–£3,400 | £2,800–£5,100 | £3,500–£6,400 | £4,750–£8,600 | £7,100–£12,900 | £10,700–£19,200 |
| Accountantat £1m limit | £325–£475 | £525–£775 | £675–£1,050 | £975–£1,450 | £1,550–£2,400 | £2,550–£3,850 |
| Architectat £1m limit | £675–£1,250 | £1,050–£1,950 | £1,350–£2,500 | £1,800–£3,400 | £2,750–£5,200 | £4,200–£8,100 |
| Chartered Surveyorat £1m limit | £650–£1,550 | £975–£2,200 | £1,200–£2,650 | £1,650–£3,400 | £2,450–£4,800 | £3,650–£6,700 |
| Quantity Surveyorat £1m limit | £625–£1,100 | £950–£1,700 | £1,250–£2,200 | £1,700–£3,000 | £2,600–£4,550 | £4,000–£6,900 |
| Engineer (Civil / Structural)at £1m limit | £1,550–£2,700 | £2,400–£4,150 | £3,100–£5,300 | £4,250–£7,200 | £6,500–£11,000 | £10,100–£16,700 |
| Engineerat £1m limit | £575–£825* | £875–£1,250* | £1,100–£1,600* | £1,550–£2,200 | £2,350–£3,300 | £3,600–£5,000 |
| Financial Adviser / IFAat £2m limit | £2,100–£3,250 | £3,250–£4,950 | £4,200–£6,300 | £5,700–£8,600 | £8,800–£13,100 | £13,600–£20,000 |
| Insurance Brokerat £2m limit | £1,250–£2,450 | £1,900–£3,700 | £2,450–£4,700 | £3,350–£6,400 | £5,200–£9,800 | £7,900–£14,900 |
| Mortgage Brokerat £1m limit | £525–£875 | £800–£1,300 | £1,050–£1,700* | £1,400–£2,300* | £2,200–£3,500* | £3,350–£5,300* |
| Management Consultantat £1m limit | £300–£600 | £350–£900 | £450–£1,150 | £600–£1,550 | £950–£2,400 | £1,450–£3,600 |
| Project Managerat £1m limit | £425–£1,900* | £650–£2,900* | £825–£3,750* | £1,150–£5,100 | £1,750–£7,700 | £2,700–£11,800 |
| Landscape Gardenerat £1m limit | £475–£600 | £725–£900 | £950–£1,150* | £1,300–£1,600* | £2,000–£2,400* | £3,050–£3,650* |
* Modelled estimate. Where we hold less data for a profession or fee level, the figure is projected along the market-wide fee-to-premium curve rather than that profession’s own records. “—” means even a modelled estimate would be unreliable.
This is a guideline, not a quote or an offer of insurance, and not advice. Use the calculator on our homepage for your own firm, or ask us for an actual quote.
Accountants: your required limit depends on your professional body
“Accountant” isn’t one regulatory regime. The minimum limit of indemnity you must hold depends on which body regulates your firm — and many accountants are unregulated, with no mandatory PI requirement. Most bodies that set a minimum use the same 2.5× gross fee income basis, with different floors and caps. Current published minimums (not quotes; verify your own body’s rules):
ICAEW requires a minimum limit of indemnity of £2m for any single claim and in the aggregate, falling to 2.5 times gross fee income with a £250,000 floor for firms whose gross fee income is under £800,000.
| Body | Basis | Minimum floor | Larger firms |
|---|---|---|---|
| ICAEW | 2.5× gross fee income (under £800k GFI) | £250,000 | Flat £2m at £800k GFI and above |
| ICAS | 2.5× gross fee income (under £800k GFI) | £250,000 | Flat £2m at £800k GFI and above |
| ACCA | 2.5× income (under £600k income) | £100,000 | Flat £1.5m at £600k income and above |
| AAT | 2.5× gross fee income | £50k sole / £100k partnership or Ltd | Capped at £1m above £400k GFI |
| CIMA | No fixed multiple — “adequate cover” only | None set | None set |
Sources: ICAEW PII Regulations (in force 1 Sep 2024); ICAS PII Regulations (29 May 2025); ACCA PII Regulations (1 Sep 2023); AAT PII requirements; CIMA Member in Practice Rules. Each body’s published minimum; may change — confirm against current rules.
Published minimum PI requirements by UK regulator or professional body
The guideline ranges above are a market observation; the minimums below are published rules, and they apply whatever a premium turns out to be.
| Regulator / body | Minimum limit of indemnity | Basis | Run-off required | Excess cap |
|---|---|---|---|---|
| SRA (solicitors) | £3m for a relevant recognised body or relevant licensed body; £2m in all other cases | Any one claim; no monetary limit on defence costs | Six years after cessation | Not fixed in the Minimum Terms |
| ICAEW (chartered accountants) | £2m; or 2.5 × gross fee income (minimum £250,000) where gross fee income is under £800,000 | Any single claim and in the aggregate | At least two years, then all reasonable steps for a further four | Aggregate excess capped at the higher of £3,000 or 3% of gross fee income |
| ACCA | Total income under £600,000: greater of 2.5 × relevant total income or £100,000. Total income £600,000 or more: at least £1.5m | Per ACCA Global Practising Regulations | Not published as a fixed period in this source | Uninsured excess restricted to £20,000 per principal |
| AAT (licensed members) | Sole traders: greater of 2.5 × gross fee income or £50,000. Partnerships and limited companies: greater of 2.5 × gross fee income or £100,000. Maximum required cover £1m where gross fee income exceeds £400,000 | Full civil liability, fully retroactive | Not published as a fixed period in this source | Set at a level the member can meet at all times |
| RICS (chartered surveyors) | Turnover £100,000 or less: £250,000. £100,001–£200,000: £500,000. £200,001 and above: £1m | Each and every claim (or aggregate plus unlimited round-the-clock reinstatement); defence costs in addition to the limit | Six years; consumer run-off £1m in all for six years | Greater of 2.5% of the sum insured or £10,000, for limits up to £10m |
| ARB (architects) | £250,000 | Each and every claim, except fire safety, cladding, asbestos and pollution which may be aggregate | Six years, or five years in Scotland, at the same level as the last year before cessation | Not published |
| FCA — insurance intermediaries (MIPRU 3.2) | €1,300,380 for a single claim; in aggregate the higher of €1,924,560 or 10% of annual income, capped at £30m | Per year | Not set in MIPRU 3.2 | Higher of £2,500 or 1.5% of annual income (no client money); higher of £5,000 or 3% (client money held) |
| FCA — IDD insurance intermediaries (IPRU-INV 13.1) | Relevant income up to £3m: at least £500,000 single claim and aggregate. Relevant income over £3m: at least £650,000 single claim | Per policy | Not set in IPRU-INV 13.1 | Excess over £5,000 requires additional capital resources |
Sources: SRA Minimum Terms and Conditions (sra.org.uk); ICAEW PII Regulations effective 1 September 2024, regs 3.2, 3.3, 3.7 (icaew.com); ACCA Professional Indemnity Insurance Regulations (accaglobal.com); AAT professional indemnity insurance requirements (aat.org.uk); RICS Professional indemnity insurance requirements, UK and Republic of Ireland, 2 July 2025 (rics.org); ARB PII Guidance (arb.org.uk); FCA MIPRU 3.2 (handbook.fca.org.uk) and IPRU-INV 13.1 (handbook.fca.org.uk). Figures are the published minimums at the date shown on each source and are not advice; check your own body’s current rules.
How these figures are produced
This guide is built from Apex’s own market data: the premiums insurers have actually quoted and charged on professional indemnity risks we have handled. That data is aggregated into anonymised rate bands by profession, fee income and limit of indemnity, and a smoothed model is fitted across it. No client information is published — a band only enters the model where it contains at least five separate records, and unusually high premiums are excluded so a single atypical risk cannot distort the guide.
Figures marked with an asterisk are modelled estimates: where we hold less data for a profession or fee level, the figure is projected along the market-wide fee-to-premium relationship rather than that profession’s own records. All figures are guideline ranges spanning the typical spread of recent outcomes; individual quotes can fall outside them either way, and all exclude Insurance Premium Tax at 12%.
This is not a quote and is not an offer of insurance or advice. Your actual premium depends on full underwriting of your business, including your activities, claims record and insurer appetite at the time.
Apex Insurance Brokers Ltd is authorised and regulated by the Financial Conduct Authority (FRN 724952). The figures on this page are guideline ranges, not quotes, and do not constitute an offer of insurance or advice.
Frequently asked questions
No. Premium is rated on profession, annual fee income, the limit of indemnity, the excess, claims history and work type. Two firms of the same size in the same profession can be quoted very differently once claims history and work mix are taken into account.
Only if you are unregulated. RICS sets £250,000 to £1m by turnover, ICAEW £2m or 2.5 times gross fee income with a £250,000 floor, ACCA £100,000 to £1.5m by income, AAT 2.5 times gross fee income with a £50,000 or £100,000 floor, ARB guidance £250,000, and the SRA Minimum Terms £2m or £3m.
Not trading yet? If the business is new, see our guide to insurance for a new business — and our new-business proposal forms ask what you expect to earn and where you did this work before, instead of turnover history you do not have yet.