Buy your AAT insurance online
If you are an Accountant, then AAT Insurance could be for you. AAT insurance is a professional indemnity insurance (PII) policy designed for members of the Association of Accounting Technicians.
In almost every trade, professional indemnity insurance is a compulsory requirement for companies providing services and / or skills and helps cover against members’ statutory and contractual obligations.
If you run your own company, then, legal obligations aside, it makes sense to consider protecting yourself against the unexpected. Claims sought against you or an employee could see you facing legal action and huge costs.
There are various types of professional indemnity insurance and, often, various levels of cover too and generally it can provide protections against things like:
- public liability;
- unintentional infringement of intellectual property rights:
- accidental breach of confidentiality;
- loss of data or documents;
- product liability;
- defamation, libel & slander;
- dishonestly, plus much more.
Protecting yourself and your livelihood against the financial ramifications caused by a claim against you does not need to be expensive and can help keep your business afloat should this happen. Certainly, AAT insurance will help to ease any financial worries in such a situation by providing financial assistance with costs – legal and compensation.
When purchasing AAT insurance, as it is such a specialised insurance, it is important that you buy the cover from a reputable provider. Buying it from someone who has experience within your niche sector means you can find the right protection rather than going for a “one-size-fits-all” type of plan that a mainstream insurance provider may offer.
A specialist broker can often be able to offer bespoke insurance so that you get the insurance policy that suits your needs.
Points to consider
- When selecting your insurance, be aware that in most cases you will be liable to pay an excess on your policy;
- Consider retroactive cover. This is where you are protected against claims that arise out of work that was carried out before the policy started;
- Always check that you have the right sum insured. It cannot be stressed enough that being under insured is almost as bad as being without insurance;
- Following on from the point above, if your profession is covered by an authorising professional body, this organisation may well lay down minimum levels of indemnity cover required, as well as excesses;
- The terms and conditions of the policy will differ depending on the insurance providers. Always make sure that you check the pertinent points of the insurance;
Finally, even the tightest run companies can face the prospect of financial ruin should a claim be made against it. AAT insurance can take away this worry.
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