Computer Programmers Professional Indemnity Insurance
The area of expertise that computer programmers offer can be very diverse and at different levels of risk
. It is therefore very important to consider your exposures in the event of any claim from your clients.
Professional Indemnity Insurance is very often now required when a contract is awarded and can be obtained via a broker or direct with some insurers.
What level of cost should you expect for Professional Indemnity Insurance (PII)?
The cost of Professional Indemnity Insurance will depend on several factors:
Experience of the computer programmer.
The area of work you are involved with, i.e. would the programming be critical based Financial Institutions, this could very well effect the costs.
The level of Professional Indemnity Insurance (PII) you require.
Where you operate in the world i.e. USA/ Canada cover for Professional Indemnity can be very expensive.
Any claims that you may have had.
Turnover of your cover.
It is also true to say at the moment that the costs for computer programmers are very competitive at present and you could obtain quotes for PII for as little as 100.00 if you are not requiring any specialist cover and have no claims.
What level of Indemnity Insurance should I choose as a computer programmer
This again depends on what type of contracts you get involved with and any requested covers you may be asked to hold, the normal contract requirements tend to be asking for 1,000,000.00 cover on your Professional Indemnity policy.
Although you cannot lump all computer professionals together the following classes of computer professional services would also need to consider insurances such as Public Liability and Professional Indemnity Insurance :