UK: Cost of Professional Indemnity Insurance for Accountants
In the UK, professional liability insurance for accountants is called professional indemnity (PI) insurance and is mandatory for members of the ICAEW, ACCA, AAT, and CIMA.
Hiscox business insurance for accountants starts from £8.40 per month, covering professional indemnity, with policies compliant with ICAEW minimum terms for Chartered Accountants.
Here is the full UK provider comparison for 2026:
| Provider | Starting Monthly Cost | Starting Annual Cost | Best For |
|---|---|---|---|
| AXA | From £6/month | From £68/year | Budget-conscious accountants |
| Simply Business | From £5.64/month | From £67/year | Comparing multiple quotes |
| Hiscox | From £8.40/month | From £100/year | ICAEW/ACCA compliant cover |
| PolicyBee | Custom | From £92/year | ACCA, AAT, CIMA members |
| Marsh Commercial | Custom | Custom | Top 100 accounting firms |
| Howden | Custom | Custom | Large established practices |
🇬🇧 Cheapest Professional Indemnity Insurance for Accountants: UK Providers (2026)
Source: Simply Business, Hiscox UK, AXA — sole trader accountant, £100K–£500K cover
| Provider | Starting Monthly Cost | Best For | Verdict |
|---|---|---|---|
| Simply Business | From £5.64/mo | Sole traders, bookkeepers | Cheapest |
| PolicyBee | From £8/mo | Freelance accountants | Best Value |
| Hiscox UK | From £12/mo | Established practices | Competitive |
| AXA Business | From £15/mo | Mid-size accountancy firms | Mid Range |
| Markel UK | From £20/mo | High-turnover firms | Premium |
| QBE Insurance | From £30/mo | Large accountancy practices | Enterprise |
UK premiums for sole trader, £100K–£500K PI cover, no prior claims. ICAEW/ACCA membership may reduce rates.
Professional indemnity for accountants starts at £7.67 per month or £92.04 per year for £100,000 cover, with premiums varying based on required insurance limits, income levels, number of people in the business, and claims history.