Does my business need Employers Liability Insurance?
First off, what is Employers Liability insurance?
Employers Liability Insurance is an essential business insurance policy that covers the expenses of legal costs and compensation for employees. If a worker falls ill or suffers an injury as a result of their work, your business can be held liable. This can be as simple as slipping on a wet floor, or excessive strain on the eyes and back from working at a desk. The health and safety of your employees is of the upmost importance, and Employers Liability insurance can help you to uphold that responsibility.
Do I need Employers Liability?
If you employ anyone outside of your immediate family, including casual workers, part-time employees and temporary staff or trade as a limited company, then the simple answer is YES!
The law requires you to have Employers Liability cover for injury or sickness claims from employees to a minimum level of at least £5 million. In the UK, the standard Employers Liability cover is £10m.
Any company that has at least one employee must have employers liability insurance or risk being fined up to £2,500 a day. Find out more on the Government website.
This will offer you full protection to cover any pay-outs that you may become liable for should an employee have a serious accident or become injured as a result of their work. In addition to this, it can help boost your employee happiness and productivity by ensuring that they are safe, cared for and protected.
What if I only have temporary staff?
Whether you have part-time workers, temporary workers or seasonal workers, employers liability insurance is a legal requirement for any business who has staff. This is because it will protect your employees and ensure that they have a safe and secure surrounding to work in.
The only situation that you would not need Employers Liability Insurance would be if you work alone and are self-employed, or if you’re exempt.
If you don’t currently have this cover, don’t panic! Conveniently, the cover can be arranged on the exact same day of speaking to one of our experts or ordering your insurance online.
Get in touch with us today to ensure peace of mind and protection for your team.
What is the cost of Employers Liability Insurance?
With the Insurance Octopus, you can have a business insurance policy tailored exactly to your needs, covering your business in places where it is most vulnerable. To discuss policies and costs, simply get in touch with one of our insurance experts today! We can discuss your business requirements and compare quotes from a number of UK insurance providers, with a range of flexible payment options, including direct debit. Alternatively, you can head over to our Get a Quote page to find insurance packages for all industries.
For more information, check out our Employers’ Liability page.
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