British Furniture Manufacturers

What is Professional Indemnity insurance all about?

14 July 2023

Professional Indemnity cover is important for businesses who provide advice as a service. Find out more about why you might need Professional Indemnity cover in Premierline's latest blog.




Professional Indemnity insurance is a key cover for businesses in a range of industries

Premierline Business Insurance Brokers work with members of the British Furniture Manufacturers Association to ensure your business has the right insurance in place. For many businesses, Professional Indemnity insurance is a key cover that could protect your business in the event of a claim against advice you have given as part of your service.

Ensuring your business is correctly insured can often be seen as a tedious task. That’s why working with Premierline can help take the stress away from arranging your business insurance, leaving you with more time to focus on the important things to hand, such as the daily running of your business.

Within the design industry, having the correct insurance in place is crucial especially in the unlikely event that something does go wrong. Members of the British Furniture Manufacturers Association who are involved in any aspect of product design or offering advice to their clients need to be extra careful, as the advice you give may inadvertently cause loss to your client if the information is wrong or inaccurate. In this instance you could be liable to pay compensation to cover your clients' losses. Professional Indemnity insurance exists to help safeguard your furniture manufacturing business in the case that you give your customer the wrong advice, for example, about suitable materials or designs to be used in a project.

How does Professional Indemnity Insurance work?

Typically, we will look to include a quote for Professional Indemnity cover as a part of your wider business insurance package as this enables us to provide a more transparent service. When we provide a quote, our advisors can discuss what the cover includes in fine detail – giving you peace of mind, with less time spent worrying about what could go wrong and more time focusing on running your business.

How much does Professional Indemnity Insurance cost with Premierline?

The cost of Professional Indemnity insurance will depend entirely on your business needs, the work you provide, the advice you give and the level of cover you require. There’s no one size fits all solution to Professional Indemnity insurance which is why our advisors will explore the market for the best options, ensuring that you pay a fair price and receive the very best service in return. This insurance cover is typically optional but could provide your business with a lifeline if a claim is raised against your business as a result of work undertaken, or misleading advice being given.

Professional Indemnity Insurance for BFM Members

This article was created by Premierline Business Insurance Brokers, a long-established insurance partner to the British Furniture Manufacturers Association who understand the everyday risks faced by furniture manufacturing businesses. If your business insurance is due for renewal and you’d like an independent review, or you wish to discuss Professional Indemnity insurance in more detail then please call your BFM insurance team on 0330 102 6171 or send us an email.

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