Cheap Employers Liability Insurance

Compare Cheap Employers Liability Insurance

It is a statutory law that companies who employ staff must ensure adequate protection is in place in the form of employers’ liability insurance in accordance with the Employers’ Liability (Compulsory Insurance) Act 1969

What is employer liability insurance?

Employers in the UK are legally required to have employers’ liability insurance to protect their employees from compensation claims if they injure themselves or become ill while working for them.

This insurance also applies to former employees who have become ill due to their employer’s negligence, as long as they can prove it was a direct result of their employer’s negligence. The Health & Safety Executive (HSE) emphasises the employer’s duty to protect the health, safety, and welfare of their employees and others affected by their business.

How do I know if I need employers liability insurance?

Employers liability insurance can enable businesses to meet the costs of compensation and legal fees. Employees injured due to an employers negligence can still seek compensation even if the business has ceased to trade. Even if you have self-employed, unpaid or voluntary employees, you may still need employers liability insurance.

Employers liability insurance comparison – How can I get quotes?

This is a common type of insurance taken out by small businesses. Quotezone could help you save time and money when searching for your next employer’s liability insurance quote by putting you in touch with our panel of UK insurance providers.

It is important that insurers know exactly what kind of business you run so that they can provide you with an employer’s liability insurance policy to suit your individual needs why not give Quotezone a try today? You can start by submitting your details on our short one-step form.

Are there any exemptions for employers’ liability insurance?

Employers can be exempt from needing employers’ liability insurance if they don’t employ others, all their employees are direct family members or all employees are based abroad. For more information, visit the HSE website. Seeking professional advice is recommended as making incorrect decisions around required insurance can have serious consequences for you and your business.

What does employers’ liability insurance cover?

Employers’ liability insurance safeguards your business from the potential costs related to employee injuries or illnesses, including compensation payments and legal fees. In the UK it is estimated that there are over 600,000 injuries in the workplace per year on average. Many of these injuries can result in claims which is why legislation remains in place to ensure employers are insured to cover injury and illness-related claims for their employees.

Employers liability insurance protects against compensation claims, medical expenses, and also income loss during recovery. It may be triggered by unsafe work environments or faulty equipment. A good policy should cover claims up to a value of £10 million. This coverage is crucial for businesses to protect against potential legal issues and protect their employees. Employers’ liability insurance will also cover ex-employees who claim against your business if they can successfully prove an injury or illness was a result of their employment.

What is not covered by employers’ liability insurance

Employers’ liability insurance can not cover all situations, these include deliberate acts causing injury or illness, injuries sustained while travelling (under motor/travel insurance), and employees working offshore. It’s crucial to carefully read your policy information to identify exclusions that you won’t be able to claim for.

How much is employer liability insurance?

The cost of employee liability insurance will vary depending on the needs of your business. For example, insuring more employees will be more expensive and so a larger business can expect to pay more on their insurance than a smaller one.

If your business operates in a high-risk environment, this too will bump up your employers’ liability insurance cost. For example, businesses which operate heavy machinery or are exposed to extreme conditions are classified as being high risk for claims. This means businesses will be required to pay higher premiums in order to get coverage.

Another factor would be the amount you wish to be insured by for liability. The minimum required for businesses is £5 million but some may require in excess of the industry standard of £10 million. For this, it is recommended that you customise you policy to the required amount at an additional cost.

Getting the cheapest employers liability insurance

Getting cheaper employer liability insurance quotes is largely down to two main factors, keeping your risk factors to insurers as low as possible and comparing as many insurers as possible before taking out a policy.

Implementing safety measures like employee training and maintaining a safe working environment can lower insurance premiums by reducing the risk of workplace accidents and illnesses.

• Consider group policies – This can be useful if you have a large number of employees.
• Negotiate with the provider – After receiving multiple insurance quotes, negotiate with your insurer to get the best price, ensuring you provide necessary business information. 
• Increase your excess policy limits – Excess policy limits are the maximum amount your insurance will pay out per claim, with higher limits resulting in lower premiums. It’s crucial to choose limits high enough to cover potential claim costs.

Compare employers liability insurance quotes and start saving today!