My solicitor said that we would be protected by their professional indemnity. Isn't this a reason to let them do it?

Solicitors will try to convince you that their conveyancing service is safer because they have professional indemnity insurance.

Professional indemnity insurance is to protect the solicitor and the Law Society, not you. For example, in NSW, the State Government introduced this in the 1980s mainly for the solicitors' 'union', the Law Society. The insurance helps the Law Society get funds from bankrupt solicitors!

If a solicitor is negligent and causes you a loss, then you can sue the solicitor for this negligence. If you win the case, the solicitor's professional indemnity insurer will pay the agreed compensation to you.

Suing people is expensive. We all know, from medical cases often in the news, that professional indemnity insurers strenuously defend their clients. They always use the most expensive high profile lawyers available. As an ordinary citizen, you would only want to take on such a task if you suffered a very serious loss. This is most unlikely in a conveyance.

My solicitor said that we would be protected by their professional indemnity. Isn't this a reason to let them do it?

Solicitors will try to convince you that their conveyancing service is safer because they have professional indemnity insurance.

Professional indemnity insurance is to protect the solicitor and the Law Society, not you. For example, in NSW, the State Government introduced this in the 1980s mainly for the solicitors' 'union', the Law Society. The insurance helps the Law Society get funds from bankrupt solicitors!

If a solicitor is negligent and causes you a loss, then you can sue the solicitor for this negligence. If you win the case, the solicitor's professional indemnity insurer will pay the agreed compensation to you.

Suing people is expensive. We all know, from medical cases often in the news, that professional indemnity insurers strenuously defend their clients. They always use the most expensive high profile lawyers available. As an ordinary citizen, you would only want to take on such a task if you suffered a very serious loss. This is most unlikely in a conveyance.