How does insurance for software consultants work?
Giving you the right cover you need, at the right price
As a software consultant your role will differ from that of a software developer – you’ll be hired by clients to provide software recommendations, execute program modifications, and develop unique solutions to business requirements through software applications. As you will be giving advice and recommendations to your clients the need for insurance cover and more specifically professional indemnity cover is crucial for you in your profession. Consider how your business would fair if a client were to launch a claim, insisting the advice you gave led to their business suffering financially. Insurance for software consultants is designed to add a layer of protection to software consultants giving them all the necessary cover they need including public liability insurance, employers liability insurance and professional indemnity insurance.
With the help of The Insurance Octopus, you will be able to put together a bespoke policy that will suit the exact needs of you and your business – ensuring you’re fully protected.
What your software consultant’s insurance policy includes
Professional Indemnity insurance for software consultants
Professional Indemnity insurance is a key element of cover to ensure you stay protected if mistakes are made or have been claimed to have been made. PI insurance will protect you and/or your business against any financial or trading loss that may be caused. Professional Indemnity cover limits are available from £50,000 to £10m.
Employers’ Liability insurance cover
Employers’ Liability insurance cover is required by law if you have one or more employees. Standard Employers Liability cover is £10m and will protect you as the employer against claims from your staff should they be injured or become ill because of the work they do for you.
Public Liability cover
Public Liability cover protects you if a customers or a member of the public is injured, or their property is damaged. Public liability insurance protects you against the cost of repairs or any legal proceedings that could be filed against you. Standard levels of cover are available from £1m to £5m, with additional levels of cover available upon request and subject to insurer’s terms and conditions.
Legal expenses cover
Legal expenses cover is there to protect you and your business against the costs you might incur if you were forced to defend a legal claim.
Associated Claims Costs can cover you if a claim needs to be investigated further or there is a need bring in expert witnesses in a court hearing. Additional costs associated with a claim that you would not normally have to pay.
Business interruption, personal accident and other optional covers
Business interruption, personal accident, off shore working and more are all additional add-ons that can be increased or decreased as required. By having flexibility with your professional indemnity business insurance policy from The Insurance Octopus, you can make sure your insurance is just what you will need.
Why you need software consultants insurance
If your business provides a professional service or gives some form of advice on a consultancy then your clients have an expectation of receiving expert guidance and a good service. If this service is not given, the customer could then make a legal claim.
As a software consultant, you will be giving strategic guidance on a variety of software projects, and the potential cost to your business if a claim is made can be high. As well as any resulting legal expenses there could also be compensation costs to pay if a claim against you is successful, both of which could be detrimental to your business.
The Insurance Octopus will help you to put together a business insurance package specifically tailored to your business needs by working with a selection of UK insurers providing the widest choice of PI insurance. We can add cover for your business equipment at home, in the office or while on the move, as well as provide options for covering you in sector specific situations as required.
Commercial insurance brokers
We cover a variety of trades and occupations, including Software Consultants Insurance, and are experts in providing Professional Indemnity Insurance which means you will get a bespoke policy that ensures you only pay for the cover you need.
Spread your costs
Get in touch with us today to arrange your cover – we can in most cases provide you with your business insurance and documents on the same day (subject to time of day restrictions). To help with the cost of cover we can also take payment via direct debit, allowing you to spread your insurance payments over a number of months.
Why choose us for your Software consultants insurance?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
We can't stop accidents from happening but our Professional Indemnity insurance will give you up to £5m worth of cover - with up £5 million worth of public liability insurance cover also included.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
Specialists who understand your profession
Connecting you with agents who are experts in your field. They understand many of the challenges you face, & can tailor a policy to your needs.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
Octopus customer rewards
We pride ourselves on the value we offer our customers, and with Octopus Customer rewards we give our customers a few additional benefits to their insurance such as discounts and offers to save them money.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.