What to consider when buying AAT professional indemnity insurance cover

July 17, 2008 · Filed Under AAT Professional Indemnity Insurance Cover · Comment 

Minimising any financial loss is the key to professional indemnity insurance. It can help your business survive if something goes wrong. That is why any serious business owner will consider buying AAT professional indemnity insurance cover.

If you are a member of the Association of Accounting Technicians, then you’ll know that AAT professional indemnity insurance is mandatory. This insurance can insure you against both contractual and statutory obligations.

So, what does it do? In a nutshell, AAT professional indemnity insurance can help protect your business against claims for negligence, breach of duty, defamation and a whole host of other issues that could destroy your business financially.

We all know that running a business isn’t just about bringing the money in and keeping clients happy. There is so much more to it. One key element is ensuring that you have the necessary insurances in place should something go wrong.

If you were faced with a business claim against you or your company, AAT professional indemnity insurance cover could step in and provide a number of financial benefits, such as assistance with compensation claims and legal fees. It would not be an under statement to say that this could keep your firm running where it otherwise may fail.

Where to buy it?

Deciding where to purchase your AAT professional indemnity insurance cover does not need not be difficult, nor time consuming. There are online specialists who can help.

Using a specialist provider of the insurance is key to getting the right cover. A professional indemnity insurance provider will ultimately have years’ of experience within the sector, enabling them to match you with the policy that suits your needs.

And with the diverse levels of cover often available – and often at wildly ranging premiums – it is important that you choose the right one to ensure you are adequately protected.

What to consider?

When considering your policy, find out much the excess will be in the event of a claim.

If you are in the middle of changing insurers – say you are switching to a cheaper policy – ask your new provider if they will accept new claims for prior incidents.

Finally, do make certain that the cover is right for you before you sign up to the insurance. As a recap, look at any exclusions; the amount covered; excesses etc.

To sum it up, AAT professional indemnity insurance cover can protect your business against the unexpected, providing financial recompense in the event of a claim against it.