How much is employers liability insurance

Everything You Need to Know About Employers’ Liability Insurance!

If you are associated with the corporate sector and work as an employer, you need to think of the solutions to problems that happen to your employees while they are working for you. What if something bad happened to any of your employees while they are at work? Employers’ Liability Insurance is the solution that has got you covered. In these few minutes of reading, you will learn about how much is Employers’ Liability Insurance and why is this important.

Employers’ Liability Insurance is your language to communicate to your employees that their welfare is important to you. It is ideal for the owners of small businesses. This helps to develop a factor of trust among employees and the employer. This is because it brings a sense of security.


Employers’ Liability Insurance In A Nutshell

In the UK, it is required legally to have Employers’ Liability Insurance for the businesses that hire employees. It ensures to provide protection against any claim that is made due to work-related injuries and illness. If you do not avail of Employers’ Liability Insurance, it results in paying heavy amounts as fines and penalties.

It is your core responsibility as an employer to provide health and life security to your employees during the hours of work. You are accountable and need to give an explanation if any single employee falls ill or gets injured due to the nature of work at the office.

In such cases, Employers’ Liability Insurance gets you covered. You can’t underestimate the simple situations like slipping on a wet floor at the office. This calls in for serious injuries at times. Sometimes there are some unexpected factors at work that can cause serious illness to employees.

Every employee tries his best to prevent such ugly happening at work to protect employees, there is no doubt about that. However, sometimes unexpected things still happen. Employers’ Liability Insurance helps to cover the expenses that are charged to you due to legal compensation.


Importance of Employers’ Liability Insurance

One should expect the unknown incidents even after the staff is given the training and all the security measures are being followed. Because bad incidents still happen. This might not happen because of any shortcomings from your side but you may face consequences of claims. You must learn smart ways to defend yourself in such situations. You will settle the cost of damage always.

Several examples are found where employers even face claims from employees who have left working for them. Keep yourself protected from such situations and realise the importance of  Employers’ Liability Insurance.

Moreover, the serious consequences like the case are handled by the court, you will have to make the compensation. There is no escape. The policy limit will cover the legal amount of cost and compensation. You will not have to take out the amount from your business accounts.


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How Much Is Employers’ Liability Insurance?

As discussed above Employers’ Liability Insurance covers the legal expenses including the compensation and cost.  £10 million is the limit and you can save your business balance from any amount of compensation that is below this amount. This may vary according to the significant circumstances.

Such uncalled and unexpected circumstances can happen but Employers’ Liability Insurance will protect your business balance and your business growth will not be hindered. The prominent features covered by the policy are listed below for you:

  • An employee claims that his sense of hearing is lost due to the noisy environment at work due to machinery.
  • While settling the stock loading, one of the loaders gets injured.
  • The temporary worker who is working on a project for you for a short period of time got injured while he was working for you.
  • An employee who is insured with you gets injured in an accident outside of the work premises.
  • An old employee who has served you for years claims that the nature of work caused him repetitive strain injury.


Final Thoughts

Now that you have developed a better understanding of how much is Employers’ Liability Insurance, we can finally sum up the discussion. To get your bottom line covered from the unforeseen incidents that happen at work, you must have realised the importance of Employers’ Liability Insurance.

No matter if the damage has happened because of your fault or not, it will cause disturbance to your business balance. You need to make smart moves if you intend to grow your business. Employers’ Liability Insurance is the way that will stop the hindrance from your way to making a name in the business world.

We hope these few minutes of reading will help to make the right business choices.


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Disclaimer: The information about How Much Is Employers’ Liability Insurance provided in this article is general in nature. It does not intend to disregard any professional advice.

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