PI renewal timing · UK

When should I renew my PI insurance?

Reviewed by Matthew Bartlett, Director, Apex Insurance Brokers Limited · Published 14 July 2026

PI renewal timing varies by sector. Some professions renew on a fixed date, others on individual firm anniversary. This page tells you when to start preparation and when to expect the market.

The direct answer by sector

SRA solicitors. 1 October every year, sector-wide. Start July.
Architects. Individual anniversary. Common clusters November-January and April-June. Start 12 weeks before.
Accountants (ICAEW). Individual anniversary. Clusters January and April-July. Start 8-12 weeks before.
Surveyors (RICS). Individual anniversary. Clusters April and December-January.
Engineers. Individual anniversary. Distributed across the year.
IFAs (FCA). Aligned with authorisation date. Clusters April, October, January.
Mortgage advisers. Similar to IFAs.
Insurance brokers. Individual anniversary.

Preparation timeline

12 weeks before: Refresh presentation materials.
8 weeks before: Full presentation drafted.
6 weeks before: Market run begins.
4 weeks before: Quotes returned; comparison.
2 weeks before: Bind decision.
Renewal day: New policy incepts.

Frequently asked

When should I start PI renewal preparation?

12 weeks before renewal date. Complex or difficult-risk placements benefit from starting earlier.

Can I switch broker for renewal?

Yes with sufficient notice. Aim for broker decision 10-12 weeks before renewal date.

What if I miss my renewal date?

For regulated firms, missing renewal creates immediate compliance issues. SRA firms enter Extended Policy Period; other regulators have their own consequences.

When does my SRA firm need to renew PII?

1 October each year, no exceptions. SRA-set sector-wide date for Qualifying Insurer PII.

Can I extend my PI policy beyond renewal?

Very limited. Extended Policy Period (EPP) exists for SRA firms only. Other regulators typically don't offer extensions.

What if I want to change my cover level at renewal?

Standard part of renewal. Discuss with broker 8-12 weeks before renewal date. Cover-limit and structure options tested during market run.

Can I renew mid-policy if my needs change?

Some material changes require mid-term policy updates via endorsement. Not a full renewal — a variation. See our mid-term changes page.

What about multi-year deals?

Some insurers offer 2-3 year deals in stable markets. Trade rate certainty for flexibility. Discuss with specialist broker.

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.

Profession

Annual fee income — gross, last 12 months

Limit of indemnity

Any claims history?

Any higher-risk work? — e.g. large or overseas projects

Guideline range — this is not a quote

Choose your profession and enter your fee income to see a guideline range.

Get an actual quote →

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.