Toolbox by Admiral, which entered the market in April 2021 with its flagship flexible tool insurance product, will now be offering professional indemnity (PI) insurance to self-employed individuals and small businesses in the UK.
In an emailed release, the digital-first business insurance provider said more than 100 professions are eligible – from designers who might face a copyright lawsuit, to web developers who might have clients losing money due to faulty code, or consultants who might be accused of providing bad advice.
“Starting and running your own business can be exciting, but there can also be a level of uncertainty and a business’ situation can quickly change,” said Toolbox chief executive Simon Flynn.
“In line with our purpose to help more people look after their future, we’ve created a fee-free insurance product that supports small business owners by offering them both flexibility and peace of mind that their business is protected if the worst were to happen.”
The PI policy features an entry-level insurance product from £5 per month and initial indemnity protection valued at £50,000. Further indemnity cover of up to £1 million can be added, as well as public liability, employer’s liability, and legal expenses cover.
Based in South Wales, Toolbox is part of the Admiral Group and serves more than 15,000 customers.
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