Professional liability cover does three things: it examines the claim, defends unfounded ones at its own expense, and pays where the claim is justified. The exclusions are standard.
✓ Verified: 01/08/2026
WHAT TO DO
The policy does more than pay: it examines the claim and fights off unfounded ones at its own expense. The decisive point for advisory professions is cover for pure financial loss, because that is precisely what arises there.
Terms and cover levels can be compared through Check24↗ and Tarifcheck↗; GetSafe↗ arranges cover in an app and serves customers in English.
My first policy did not cover pure financial loss — exactly what happens to a consultant. Fortunately I noticed at renewal rather than when a claim arrived.
Look not at the advertised sum insured but at the annual aggregate limit. They are two different numbers, and the second is often noticeably smaller.
Three things: it assesses whether the claim is justified, defends unfounded claims at its own cost, and pays justified ones. In practice that defence often proves as valuable as the payment.
Loss without damage to property or persons: a client’s lost profit, a ruined project, a miscalculation. For consultants, translators and IT this is the main type of loss, and not every policy includes it — check this point first.
It should reflect the damage you could theoretically cause rather than your turnover. Regulated professions have statutory minimums; everyone else takes their bearings from project size.
Deliberate harm, fines and penalties, and risks already known when the contract was signed. Wordings vary, but those three groups are excluded practically everywhere.