If you are a Surveyor seeking cost effective professional indemnity insurance from someone who understands your business, we can help you.

All our quotations are individually underwritten so you can be sure that sure premium reflects your firm’s unique circumstance.

At Collegiate we provide cover for Chartered Surveyors who are members of the Royal Institute of Chartered Surveyors (RICS) as well as those who are unqualified but highly experienced in their field.

Professional indemnity insurance is compulsory for members of the RICS. Collegiate is an approved RICS insurer and our policy meets the standards required by the institute.

The RICS minimum requirements for professional indemnity cover are:

• £250,000, where the gross income of the practice does not exceed £100,000,
• £500,000, where the gross income of the practice is between £100,000 & £200,000,
• £1,000,000, where the gross income of the practice exceeds £200,000.

The excess under the policy is not to exceed:

• where the limit is up to £500,000, 2.5% of the sum insured or £10,000 whichever is the greater,
• where the limit exceeds £500,000, 2.5% of the sum insured.

We are not currently taking on any new lending S&V exposure

For further information about our Surveyors policy please click on the ‘Fact Sheet’ opposite:

All Professional Indemnity Insurance is on a claims made basis, that means you must have an active PI policy at the time a claim or allegation is made against you. It is important to remember that once a PI policy expires you can no longer make any claims against it. Therefore you need to consider maintaining your PI insurance once you cease trading. This is called Run-Off Insurance and provides protection against any claims which may arise from work you undertook in the past. The RICS require all of their members to carry Run-Off insurance for a minimum of six years once they cease trading, and that they consider maintaining it after this period. Run-Off is an annually renewable policy, the premiums will usually reduce each year to reflect the reducing exposure to insurers.