There is no single price for PI. Occupation matters most, then turnover, the limit you choose and your claims history. A broker gets real quotes from insurers once they have your answers.
Source: https://piinsurance.com.au/cost/, fetched from the preview https://pi-react-4ee768.pages.dev/cost/ on 10 Nov 2026; site dated 3 Nov 2026. Preview wording, not yet broker-reviewed. General information, not advice.
Key points
- There is no single price: occupation matters most.
- Turnover, the limit you choose and your claims history also move the price.
- Describe your work accurately and keep cover continuous.
What moves the price
- Occupation. Design and property work usually costs more than consulting or bookkeeping, because claims are larger and arrive later.
- Turnover or fees. More work means more chances for a claim.
- Limit. A higher limit costs more, though doubling the limit often costs less than double.
- Claims history and US or Canada work. Either can change the price or the insurer.
- Excess. A higher excess lowers the premium a little.
Ways to pay less without losing cover
- Describe your work accurately. Vague descriptions get priced as the riskiest version.
- Know the minimum your contract or regulator sets. That is a floor, not a target: your work may call for more. How to choose a limit.
- Keep cover continuous so you do not lose your retroactive date.
Common questions
Is PI tax deductible?
For most businesses PI premiums are a deductible business expense. Check with your accountant.
Can I pay monthly?
Many insurers allow monthly payments, sometimes at a small extra cost.