Software Consultants Insurance

Expect more from your insurer. Specialist insurance for software consultants from as little as £5 per month.

  • Fast, easy online quote in 90 seconds

  • 24hr legal advice helpline included

  • No hidden fees or cancellation charges

Markel’s specialist software consultants insurance can protect your business against a wide range of risks in the IT consultancy industry.

What is software consultants insurance?

Software consultants insurance is designed for IT consultants and contractors who advise clients on all aspects of software and applications. Software consultancy projects don’t always go to plan (for example, a software solution you provide is not fit for purpose) and you could be pursued for financial losses your client incurs as a result of your mistake.

Why do software consultants need insurance? 

Any business providing software consultancy should consider having insurance cover in case something goes wrong in the course of providing their services.

Without the right insurance cover in place, you would have to pay the cost of defending a claim (as well as any compensation payments that could be due to your client) out of your own personal finances.

What does software developers insurance cover?

Software consultants insurance from Markel offers a range of covers that can protect against different scenarios, including:

  • Breach of contract – a software consultancy project your business is carrying out overruns, leaving you liable to the costs incurred by your client.
  • Damage to property – you drop an expensive client-owned laptop on your way to their office. They send you the bill for a replacement.
  • Professional negligence – a software solution you recommended is deemed to be unfit for purpose by your client. They take legal action against you to recover their losses.

Markel’s software consultants insurance can protect your business against such scenarios, giving you peace of mind that you’ll be covered if something goes wrong.

How to arrange your software devloper insurance

Get an online quote in just 90 seconds now. Arranging cover with Markel is fast and easy and you'll receive an instant proof of cover, enabling you to secure contracts straight away. You’ll be asked a series of quick questions about you, your business and your activities and receive a quote instantly.

How much it will cost

Software consultants insurance starts at just £5 per month, with costs varying depending on the covers and limits you choose. There are no hidden fees or cancellation charges if you choose to end your policy early.

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Cover starting at £5 a month

Build your software consultants insurance policy to suit you

  • Professional indemnity insurance

    Professional indemnity insurance covers the cost of defending your software business against allegations of professional negligence and, in the event of an unsuccessful defence, the cost of damages awarded against you.

    Examples of claims that are covered include:

    • Breach of contract
    • Professional negligence
    • Breach of copyright/intellectual property

    Markel’s policy also includes mitigation of loss cover, which pays the costs incurred to put a mistake right before your client makes a formal claim against you. This is essential insurance for software consultants providing advice, with limits ranging from £50k to £5m.

  • Public and product liability insurance

    Public liability insurance covers the cost of defending your business against allegations of injury (or property damage) caused by your negligence.

    It will cover your legal costs as well as any compensation payable in such an event.

    Limits range from £1m to £5m.

  • Employer’s liability insurance

    Employer’s liability insurance is a legal requirement if your business has any employees. This insurance will cover your business against claims for injury or illness suffered by employees arising from their employment at your company.

    If your business employs other software consultants, this cover is important. Limit of £10m.

  • Legal expenses insurance

    Legal expenses insurance pays your legal costs and expenses for contract disputes, tax enquiries (including IR35), attending jury service, debt recovery, personal injury, as well as any award you are required to pay following an employment dispute with an employee. There is a limit of £100,000.

    If a client takes legal action against you because of an error you have made, this cover can prevent you from needing to use your own finances to cover legal expenses.

  • Directors and officers insurance

    Directors and officers insurance covers the costs of defending you, if you are a director or officer of your company, against allegations of wrongful practices and any subsequent damages awarded against you.

    Cover is also provided in respect of the legal costs and expenses of defending actions for disqualification as a director, investigations and extradition proceedings.

    Limits range from £25k to £5m.

  • Office insurance

    Office insurance provides cover for your business's:

    -       Office buildings

    -       Office contents

    -       Computer equipment

    Optional cover within this policy includes covering your business equipment, such as laptops and mobile phones, on a worldwide basis. This is ideal if you travel frequently for work.

    You can also insure your business against loss of income and/or additional trading expenses following events such as a flood or fire.

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Frequently asked questions

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Cover starting at £5 a month

Frequently asked questions

  • I need to arrange software consultants insurance to secure a contract – do you provide proof of cover?

    Yes. Markel will email your policy documents to you instantly when you purchase software consultants insurance. This includes a dedicated ‘Confirmation of Liability Insurance’ document, detailing the cover you have chosen, which can be presented to agencies and clients as proof of cover.

  • Is my past work covered?

    Markel covers past work if you have held uninterrupted professional indemnity insurance prior to purchasing your cover with us.

    If there was a period of time where you did not hold professional indemnity insurance in force, we are unable to cover past work.

    Examples:

    • You have never arranged professional indemnity insurance before
    • You chose not to renew a previous policy
    • Or, you cancelled a previous policy at the end of a contract

    If you require further clarification on past work, please call us on 0800 640 6600.

  • What limit of cover should I choose?

    Many clients and industry bodies with regulatory requirements will require software consultants to have a minimum level of cover to undertake a contract. Before arranging cover, please check such requirements.

    If you are unsure, or this is the first time you have arranged cover, consider a worst-case scenario and the likely costs involved.

    Markel offers a range of limits, so there are multiple choices available to find the right cover for your business.

  • What's the difference between professional indemnity and public liability?

    Professional indemnity covers against allegations of professional negligence. It would cover you if you made an error or mistake while undertaking a piece of work for a client, such as a project or report.

    Public liability insurance covers against allegations of injury or illness caused to third parties through your negligence. It covers many of the slips, trips and falls associated with personal injury claims. In addition, public liability insurance covers against damage to third party property.

    As both professional indemnity and public liability insure against different scenarios, it is important you consider arranging both types of cover to ensure proper protection.

  • Why should I insure with Markel?

    Markel has over 25 years’ experience insuring software consultants – and understands how legal claims can disrupt your life professionally and personally. That’s why we aim to deal with all claims fairly and swiftly.

    We are a division of Markel International, a Lloyd’s and London market insurer that wrote gross premium totals of $1.2 billion in 2018.

    Prefer to speak to someone? Call on 0800 640 6600 to speak to an insurance expert, who will answer your questions and guide you through the insurance we offer, step-by-step.

    Alternatively, get an online quote in 90 seconds and call Markel if you require any clarification on our software consultants insurance.

  • How are Markel regulated?

    Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Find out more on the Financial Services Register.

Access exclusive contractor services

We include exclusive access to a unique support services for your software consultancy business which offer you advice, help and legal resources whenever you need them (included as standard with the relevant section of cover).

24 hour legal helpline  24/7 access to a legal advice helpline manned by qualified solicitors

Legal hub access  Access legal templates and resources with the Markel Law Hub

  Support with chasing unpaid invoices with our fee dispute service

  Receive discounted IR35 contract reviews with your policy

  Expert management of public relations crises with The Counsel House

Discover more about these services

Cover starting at £5 a month

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