What business insurance do I need?

Each business has slightly different needs, and it is important to make sure that the risks your business can face are covered. A good business insurance policy will cover your business in case anything goes wrong and can foot the bill for things like compensation payments and legal costs.

What is Employer’s Liability Insurance?

The only type of business insurance that’s legally required is employer’s liability insurance. In order to safeguard all employees in the UK, if your business employs staff it is a legal requirement that this cover is purchased and whilst the legal limit is £5,000,000, insurers provide £10,000,000 limit as standard. The business could be fined £2,500 for every day you don’t have this insurance. The legislation makes a few exceptions, for example, if you only employ family members.

This insurance covers the cost of defending or settling a claim against you from an employee who has suffered injury or disease as a result of the work they do.

This could be a waiter in your restaurant who trips on loose flooring and breaks a leg, or an employee working on a production line for hours without a break who suffers from repetitive strain injury (RSI) as a result. It also covers the cost of defending related criminal prosecution if the accident or disease came about because a law or regulation had been broken. For comprehensive and tailored cover, take a look at our Employer’s Liability Insurance Policy.

As a thriving business with employees, your people are one of your greatest assets and investments. They’re also a great responsibility. Not only do they rely on the success of your business to provide their livelihood, but as an employer you have an obligation to provide safe conditions for them to work in.

The cost of defending any claim could significantly damage your business, so it is essential to be covered correctly.

Speak to a specialist today

For more information on the business insurance services that we provide, please refer to comprehensive list of business insurance.

A member of the Sagar Insurances team will get back to you as soon as possible when you contact us online.


Alternatively, you can call our offices directly on 01282 858250.