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, if you are looking for an AAT insurance quote, the good news is that you do have some low cost options available which can protect yourself and your business.
Professional indemnity insurance – PII for short – can help your business to overcome unexpected hurdles and minimise any financial loss – as well as the undoubted worry you will face personally – in the event of a claim made against it.
Protecting your livelihood against financial disaster does not need to be costly and can help keep your business afloat should this happen. An AAT insurance quote can help to ease any financial worries in such a situation by providing financial assistance in the form of compensation and legal costs.
Shopping around for your AAT insurance quote does not need not be difficult, nor time consuming. In fact, finding the right cover can be simple when using a specialist broker. Often they can be able to offer bespoke insurance so that you get the level of protection your business needs.
What to consider
As with buying any financial products, you do need to check that you fully understand what you are buying and that is offers the right cover at a price that suits your budget. These tips should help:
- before you sign up, do check what the policy excess will be in the event of a claim;
- look out for any exclusions which could render a claim ineligible;
- check policy start and end dates. Ask about a “run-off” period which makes sure that you are properly covered. This if for cases for example, you are in the middle of changing insurers or shutting your business down. Claims can often be made quite a while after the incident. Arranging a “run-off” cover for a period of time after the cancellation of the existing policy or asking your new insurer to accept new claims for prior incidents is something to consider;
- policies can offer different levels of cover within them, so confirm that you have the correct amount of protection;
- policy terms and conditions do vary among the different insurers, so check the small print to confirm that the cover is right for you.
Finally, to protect yourself and your livelihood does not have to be a time consuming exercise. A specialist provider of an AAT insurance quote can find you the right cover for your business.