Dealing with insurers - things to remember when buying
Most employers are required by law to hold employer liability insurance cover, to insure against liability for injury or disease to their employees arising out of their employment. To obtain a quote please visit the employer liability insurance section of this site - Many businesses use sub-contractors within a project. You should always check that your sub-contractors have appropriate employer liability insurance before allowing them out on site
- Although not a legal requirement, many customers insist on you having public liability cover before allowing you to start the job
- Keep up to date with current health & safety issues by subscribing to our health & safety e-bulletins
- Evaluate your desired start date, you may wish to have the insurance start at the beginning of a particular project
- Check the limit of indemnity associated with the different insurance products. You must be insured for at least £5m for employer liability cover but in practice most insurers offer cover of at least £10m
- Some insurers charge very little difference in price for £1m or £2m of public liability cover
- Compare like for like. You will be offered ‘optional covers’ by some insurers, like tools, included in the policy, whereas other insurers will charge you an additional amount for this
- Decide the level of excess you want to go for. Excess is the amount you will have to pay of the claimed amount, so for example if you have a claim for £1000 and your excess is £500 you might only receive £500 back from the insurer
- Check geographical extent of the cover as some insurers won’t cover companies that work outside of the EU
- Look at the exclusions as specific activities will be excluded by insurers
- You will need to inform the insurer about all aspects of your business particularly the number of employees you have
- If your business changes throughout the course of the year you will need to let your insurance provider know as the nature and scope of your business will affect the premium.