Every day I’m asked, ‘Do I really need employers’ liability insurance?’ and the answer really is quite simple.
Employers Liability Insurance covers you if you hire any employees and is applicable to both sole traders and limited companies. It also is a requirement if you hire subcontractors who don’t hold their own cover. Subbies that hold their own cover are referred to as ‘bona fide’ and will have their own levels of insurance in place.
If you are a limited company, then it is a legal requirement to hold employers’ liability insurance if you have anyone else employed, and this is a very important factor to consider when taking out insurance for your business.
Another question I’m often asked is, ‘Well what does it actually cover?’ and the answer here is again pretty simple. It covers you if a member of your team injures or damages themselves whilst on a job and makes a claim against you. Although you may have public liability insurance in place, there to cover you in case members of the public injure or damage themselves causing them to sue you, employers’ liability insurance covers you if it’s your employees that are damaged or injured.
If you are employing family members there can be exemptions when working as a sole trader, but remember if you are a limited company, family member or not, if you employ even one person, you are legally required to have the cover in place.
Our employer’s liability insurance starts at just over £6 a month and is a simple add on to our public liability cover. As always you can purchase Rhino Trade Insurance easily and swiftly via our online insurance shop.
Here at Rhino, I want all our customers to be able to understand what they’re covered against and what their options are in the event of accident, damage, or injury. Insurance is vital in maintaining a successful business, and especially in the trades, can be a very worthwhile financial safety net. Employers’ liability cover is just as important as any other cover you may be on the lookout for, and if it applies to you then we can make the purchase process easy and straightforward.
So, there you have it, employers liability insurance in a nutshell. Easier to understand than you thought, eh?
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