By law a business is required to have:
- Employer’s Liability Insurance
- Third Party Motor Insurance
Employer’s Liability Insurance
If your business has employees, you are legally required to have Employer’s Liability Insurance
Employer’s Liability Insurance covers you if an employee is injured at work, or becomes ill as a consequence of the work they do for you. By law your insurance must cover at least £5m.
A business uses motor vehicles it is legally required to have Third Party Motor insurance. This type of insurance covers damage to persons and property as a result of a collision caused by either you or your employee. This insurance must cover at least £1m for damage to property and an unlimited amount for personal injury.
Specific policies are recommended where a motor vehicle forms a core part of your business, for example taxis, coaches, farm or construction vehicles.