I want to start my own part-time lettings business and need to get Professional Indemnity. What sort of money will I be paying for this? Minimum cover required.
I just want to get a rough idea really before getting proper quotes.
Apologies! It is letting and managingresidential property on behalf of landlords. Starting off with around 6 properties.
Anonymous
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letting what, flats? construction equipment? airplanes? It matters a whole lot.
How many will you be letting? What are your estimated gross receipts? All that matters. "Professional" is one type of coverage, "general" is another. Most won't sell you professional until you also have general. I strongly suspect you don't need professional at all, only general. If you're letting one flat, it should cost about 500 pounds a year, minimum. When you have more, the rate goes down. If you're letting to a business, or letting construction equipment, the rate goes up.
I wouldn't even guess how much it costs to let an airplane, thousands and thousands. So all these "guesses" are just that, and won't do you any good. You'll have to get real quotes.