Professional indemnity insurance for Letting Agents
The Association of Residential Letting Agents (ARLA) is a professional self-regulating body solely concerned with residential lettings.
Professional Indemnity insurance is mandatory for all members.
ARLA requires members to purchase limit of indemnity of £150,000 where fee income is less than £150,000. Where the income level exceeds £150,000 the minimum limit of indemnity purchased must be £500,000.
The policy should be on an ‘any one claim’ basis (in other words no restriction as to the number of claims in a year but each claim has a maximum limit) and cover provided on a civil liability basis.