Three Tips to control the cost of your PI cover

The world’s leading insurance market, Lloyd’s, has recently undertaken a big review of professional indemnity (PI) cover across all industries.

As a result of this review, it has been identified that PI insurance has been particularly prone to incurring big losses and consequently some insurers have pulled out of the market whilst others are considering what they will do. We haven’t seen such a drastic change in the sector since 2008, when the property market was falling, and claims were increasing. Today, claim rates on PI cover for surveyors are actually falling, but the cost of cover is increasing as surveyors lose out as a result of an industry-wide shift in risk appetite amongst PI insurers.

As such, it’s becoming trickier for surveyors to secure PI premiums at good rates. So, how can you increase your chances of securing competitively priced cover?

At Arnold & Baldwin, we recently renewed our PI cover and we were able to do so at the same rate we had previously paid. So, here are some of our tips on what surveyors can do to control their PI costs.

  1. Submit your proposal forms 13 weeks ahead of the renewal deadline. Don’t leave it until the last minute. Make sure that the insurer has plenty of time to review your proposal in full and leave enough time during the process to discuss detail.

  2. Be clear to detail your fee income, business plan and strategy to manage internal risk

  3. Your PI insurer will want information on all of these things in order to make an accurate risk assessment, so provide the information clearly and concisely. Provide a full presentation for your insurer. Don’t let them make their own assumptions about your business

If you are confident about the processes in your business, tell your PI insurer. Don’t leave it to chance that they will assume you follow best practice. Supplement your proposal with a full presentation that outlines exactly why your business poses a good PI risk.

Following these three tips won’t necessarily guarantee that you are able to secure a favourable price on your PI cover, but it will help to give your business a good chance of properly communicating its attributes and help you to make the best case to achieve the best rate.

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Professional, efficient surveyors. Get the job done in a timely manner, had our survey back within 5 days of inspection. All team members I spoke with (Tiffany and Billy) were really lovely. Highly recommend. :)


I have only just started working with Stephen and he has already demonstrated the high levels of customer attention and dedication that this company has. The first impression he has caused is such that made me write this review. I have no doubt that the continuous service will be of same level. Looking forward to working further with Stephen. Well done!

Steve Kenny

Lease extension - I found Daniel Grove very professional and had an excellent understanding of all aspects relating to this transaction. Advice was invaluable, and it was nice to come across someone who did exactly what they said they were going to do. Would not hesitate in recommending the firm and Daniel to anyone who has a lease to extend.

Petros Kyrkilis

Amazing job and fully professional treatment. The surveyor went above and beyond to check for everything, when he could have easily claim lack of access. In addition he was more than happy to answer questions over the phone and be there to explain the steps.

Lynn Wilson

Within 48 hours I received my detailed report from Joe Arnold which enabled me to see the property as it was and not through rose-tinted glasses! The report highlighted areas where money might need to be spent and provided guidance on questions for my solicitor - just what I needed. Overall, the survey enabled me to re-assess my offer and in this respect was invaluable. Thank you for a friendly and professional service.

Mark Roberts

100% choose this company. As first time buyers we had a mortgage valuation which said the house was fine. The Arnold & Baldwin survey found over £30,000 of problems. Holes in the roof with daylight visible, damp, woodworm, broken sash windows and poor electrics. This company helped us renegotiate and save a fortune.


Arnold & Baldwin came recommended and I’ve got to say they were brilliant - not just in identifying issues with the property I was looking at but in the way they kept me informed and up to date (ie picking up the phone instead of just posting / emailing communications with you). After dealing with estate agents for so long, it’s nice to have someone who is genuinely on your side.

Kamal Rahman

From my initial interaction with the firm I found them to be prompt, courteous and helpful. I received a detailed Homebuyers report within a week of instructing and was given the opportunity to talk it through with the attending surveyour. Overall excellent service all round, would certainly recommend this firm.

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