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Post Info TOPIC: Hiscox PI Insurance
Jen81


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Hiscox PI Insurance
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I've just obtained an online quote for PII from Hiscox. I've got a turnover of £27K pa and been quoted £175 for the year. Just taken on £15K of fees from a retired bookkeeper so I was paying much less last year.

Can anyone advise if this is reasonable?

Thanks

Jen



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Stuartbham


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Jen

IMHO it seems a bit expensive. I use Zurich insurance who you may want to check out. I'd expect a quote in the £120 region for that level of turnover.

Stuart

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Jen81


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Thanks for your reply Stuart.

I will give Zurich a call and see what they can offer.

Thanks

Jen

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ICBUK


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Hi there,

ICB insurance for £27k turnover and £50k cover is £156 for the year including IPT and fees.

Stuart you say Zurich can offer £120 for the same cover? Do you have details as the ICB cover is supposed to be the best value around and we have not seen a cheaper offer yet.

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Stuartbham


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Hi James,

Afraid it was just an estimate based on my turnover and current annual fee (which is more than £27K). Its a few years since my income was at that level so I'm guessing fees have risen more than I thought.

Have to say £156 does seem very good value. May need to shop around when mine is up next year!

Cheers,

Stuart

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RobH


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Hiscox have a good reputation, I'm with them and pay just under £600 but I couldn't find cheaper for my turnover. I know someone who claimed and they were very happy with the lack of fuss made over the claim.

Rob

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ICBUK


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Hi,

The ICB has never come across cheaper insurance for the same cover. Quite a few members try though :)

If you want to compare go to www.icbpi.co.uk for a quick online quote. If yours is cheaper let me know I would like to get details. 

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RobH


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just tried your instant quote James and it came to £1057, so my £580 from Hiscox looks reasonable.

Rob

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ICBUK


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Wow that shouldn't happen.

The ICB used to use Hiscox but moved as they were too expensive. They must have halfed their fees!

Are you sure you have PI at the same level (sorry don't mean to be rude but that is quite a difference) Need to make sure the ICB is still providing the best cover at the best price.

-- Edited by ICBUK on Tuesday 7th of December 2010 04:01:57 PM

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RobH


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.

-- Edited by RobH on Tuesday 7th of December 2010 03:15:43 PM

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ICBUK


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Hi Rob,

I'm getting £522 per year including all fees and £250,000 cover.

-- Edited by ICBUK on Tuesday 7th of December 2010 03:08:59 PM

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RobH


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I put down for £2million cover

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ICBUK


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Hi Rob,

(sorry if I'm getting on your nerves but the ICB's job is to seek out good deals smile)

I have just been talking with Hiscox, they say that for a turnover of **** the cheapest they could go is £1,420 for the year (ICB was £1,057).

So your getting a very good deal. ICB would be interested in talking to you biggrin

-- Edited by ICBUK on Tuesday 7th of December 2010 04:00:54 PM

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RobH


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James could you edit your post so not showing my turnover please...I do it all through my broker and I pay £48.12 per month...not sure that my cover is £2m just went for the highest you offered, but I'm sure it's at least £500k

Rob

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