Groundworkers Insurance Help
The cost of groundworkers insurance
This is all based on your perceived risk level. Each business is treated individually and assessed on their own merit. Therefore, it is vital that we understand your business and your safety procedures, so that we can portray your business correctly to the insurers. If you have had claims, then we need to discuss what has been implemented to improve risk management. As you can imagine higher risk locations often mean a higher premium, more employees equal a higher premium, a poor claims history will mean a higher premium.
Our advice on what liability limit to select
Unfortunately this is where we need to consider worst case scenarios. When selecting your indemnity limit, you need to consider what the maximum pay out may be following a catastrophic incident. With liability claims these can range from a few thousand to millions. Common Public Liability (PL) coverage ranges from £1m to £10m, but we have also had requests up to £20m, on an any one claim basis. Often there is a contractual requirement from the principal contractor, so it is important to check what they require in the first instance. For Employers Liability (EL) the majority of insurers offer £10m as standard but again it is possible to increase this.
Additional cover we recommend
We can include additional cover for your business, and incorporate insurance for tools and plant, business equipment, laptops and portable electronics, personal accident cover, legal expenses and excess reimbursement protection.
