Get quotes for public liability, professional indemnity, tools and employers' liability insurance for UK mortgage brokers — quotes are provided directly by FCA-authorised insurers, not by us.
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Every trade faces unique risks. Here's what could go wrong and why the right cover matters.
Mortgage brokers face a distinctive, currently active risk: a wave of litigation over interest-only mortgage advice given many years ago, now reaching the courts in volume.
Claims firms have been bringing cases against brokers over interest-only mortgages sold roughly between 2006 and 2014, alleging the broker recommended the mortgage without a viable repayment plan in place. These cases are working through the courts now, sometimes nearly two decades after the original advice.
Because PI is claims-made, the policy that responds is the one in force when the claim lands — not when the original advice was given. If your retroactive date doesn't reach back far enough, or there's a gap in your insurance history, a claim about decade-old advice could fall into a coverage gap.
Mortgage and home finance intermediaries sit under their own part of MIPRU 3.2, with a minimum limit generally set at the higher of 10% of annual income or £1 million — lower than the minimum that applies to firms also giving investment advice. If you distribute insurance products alongside mortgages, check which limit actually applies to your firm.
Courts have considered when a client "knew enough" to bring a claim, which affects whether old cases are time-barred. Some claims have failed on limitation grounds, others have proceeded to trial — so don't assume the passage of time alone rules out a claim about old advice.
A strong policy covers the specific risks of your trade — from negligent advice claims to data breaches and client disputes.
Protects against claims of negligence, errors or bad advice from clients. Essential for any business that provides advice, designs or professional services. Covers legal costs and compensation.
Covers injury or property damage to clients or third parties at your office or client premises. Required by most co-working spaces and client contracts.
Legally required if you employ anyone. Covers employee injury or illness claims arising from their work. Minimum £5 million required by law.
Covers data breaches, cyber attacks and GDPR fines. Professional service firms handle sensitive client data — cyber insurance is increasingly essential.
Covers your office equipment, computers and business contents against theft, fire and accidental damage at your premises.
Covers legal costs for contract disputes, employment tribunals, HMRC investigations and debt recovery.
A few things worth checking before you buy, whichever UK insurer or broker you compare.
Check the limit matches what your contracts, landlord or clients require — common tiers are £1m, £2m, £5m and £10m depending on trade and risk.
Professional and liability covers are often "claims-made" — cover depends on holding a live policy when a claim is made, not just when the work happened.
Read what's excluded, not just what's covered. Sub-contractor work, specific activities, or work carried out overseas are common gaps.
Before buying, confirm any insurer or broker is authorised and regulated by the Financial Conduct Authority — check the register at register.fca.org.uk.
🤝 We're finalising partnerships with FCA-authorised UK insurers so you can compare real quotes here soon. Check back shortly, or get in touch if you'd like to be notified when comparisons go live.
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