Employers’ liability insurance
Employers’ liability insurance is compulsory to cover your employees. By law you must have at least £5 million of cover although a minimum of £10 million is now provided by most policies. The certificate of insurance must be displayed in the workplace. If your business is not a limited company, and you are the only employee or you only employ close family members, you do not need compulsory employers’ liability insurance. Also, exempt are the limited companies with only one employee, where that employee also owns 50% or more of the company’s shares.
Motor vehicles liability insurance
Motor vehicles liability insurance is also compulsory and must cover third party insurance, which is the legal minimum.
If you are starting, or have started a business in Chislehurst, Bromley, Kent and London areas we, at Adiva Accountants in Chislehurst, can provide further help on insuring your business. So please do not hesitate to contact us at Adiva Accountants in Chislehurst for further advice.