Yes, that's more like it. Before I retired my PI insurance for £1m international cover was £880 a year with £1000 excess.
That's the sort of figure I would have expected, BUT ....
The PI insurance specifically excluded "the supply, manufacture, sale, installation or maintenance of any product". It covers negligent misstatements, breach of confidence, infringement of intellectual property rights and the like. So I think the need for PI by an electrician is rather limited.
That's surely ridiculous. Excluding 'manufacture' is fair enough, but if an electricians's PI insurance doesn't cover 'supply, installation or maintenance of any product' (which I would of thought was a pretty comprehensive description of what an electrician does, apart from inspection/testing) what on earth is the point of having it?! Indeed, what aspects of your actual work
did it cover - just the inspection/testing?
The cost of my PI insurance has varied a lot over the years, depending on exactly what hat I was wearing at the time (I have far too many
and the nature of the work/projects I was involved with from time to time. The premiums have nearly always been much higher (in 2011 pounds) than those we are discussing here, but at least they covered me in relation to the work I was actually doing at the time!
Kind Regards, John.