How risky is the nature of your business?
There are a lot of ways to earn a living and some are more dangerous than the others. From the typist at an internet company to a coal miner, the working world is fraught with accidents waiting to happen in even the safest forms of work. This is why you should be covered with public employers liability insurance. The cost of insurance is tiny compare to the possible compensation needed when something goes wrong.
What does it do?
If one of your employees gets injured at work it covers you. This includes if an employee is hurt or dies from an accident at work, as well as any illnesses a person may receive through working for you. If any of this happens the employer is liable and will most likely need to pay out massive amounts of money for legal, medical, compensatory and punitive. So if you do not have it then you should really compare employers liability insurance right now and get yourself covered.
What if you are a small business?
This is when you need it the most. It may seem like a needless expense, however if the worst happens, then your business will most likely not be able to afford the resulting outgoings. With the rise of the “No Win – No Fee” solicitor there has never been a better time to have public employers liability insurance. The more unscrupulous individual has even begun to search out potential accident black spots at work after being tempted by the (advertised) large compensation they will receive for hurting themselves.
So I should just find the cheapest then?
You are free to do that, as some cover is always better than none, however when you do compare employers liability insurance then you should go over every detail. Research and ask what cover other people in your business sector cover themselves for. What are the biggest risks in your company? Does the risk even come from within your company? For example, bar owners must protect their staff from the rowdy and sometimes violent customers. So define what you need and then get quotes tailored to your own business.
Shopping around isn’t needed with the internet is it?
Try to get tailored quotes. Answer insurance companies questions online and request tailored quotes. It may take longer, but the coverage and price is more likely to come out in your favour.
Visit Specialist Risks for quotes from a range of top providers.