What kind of business insurance can the RAC provide?
We understand the long hours and financial investment that goes into growing your business.
We understand the long hours and financial investment that goes into growing your business. With that in mind it is essential to have safeguards in place that will allow you to focus on making your enterprise the best it can be.
‘But there is no one-size-fits-all solution’.
A tailored approach could be the solution, which is why the RAC provides a range of business insurance options to suit the diverse needs of our customers.
Liability Insurance
Employers’ Liability Insurance is required by law if you employ staff, protecting you in the event of an accident. Similarly, Public Liability Insurance covers your legal responsibility in the event of harm to the public or damage to their property.
The RAC offers a variety of solutions such as Tradesman's Liability Insurance, which covers legal costs and pays compensation should the business be at fault. Further options, such as protection of construction projects and insurance for the tools of your trade, are also available.
Business insurance for offices and shops
With both staff and clients likely to be on site, a shop or office will require Employers’ and Public Liability Insurance. However, there is further cover which their owners may wish to consider. Office Insurance can protect your building and its contents, and can also cover legal expenses, accidental damage cover, and the theft of money from your premises or while in transit. A shop may also require stock cover to protect against theft and damage, be this accidental or malicious.
Business insurance for the hospitality industry
Insurance is a particularly important consideration in the hospitality industry. The RAC provides bespoke Hotel & Guesthouse Insurance and Pub & Restaurant Insurance, which includes Public and Employer’s Liability as well as contents, stock cover and business interruption protection. Business Interruption Protection will help ease worries in the event that you are forced to cease trading for a period of time.
Employers’ Liability
Employers’ Liability provides the minimum level of cover for business owners against compensation claims made by employees who were injured at their place of work. If employees are hurt or fall ill, as a result of their job or being at their work place, then they are well within in their rights to file a claim.
Employers’ Liability will ensure you are in a position to cover the costs that can be incurred when a compensation claim is made against you. This includes fines and legal fees that can result if the claim is taken to court. Even a former employee can file a claim, if an injury or illness occurred while in your employ, if health and safety rules were not properly applied.
Our Employers’ Liability policy comes as standard with our main Public Liability Insurance package, which is similar to Employers’ Liability, but not to be confused with it. Where Public Liability is for covering businesses against general public claims, Employers’ Liability is solely for cover against claims made by staff. It is important to remember that it is illegal for employers to hold an insurance policy that does not include Employers’ Liability cover.
Once a policy is taken out, an Employers’ Liability insurance certificate is issued and a copy must be displayed where it can be read by all staff members. The original certificate must also be made available to Health and Safety Executive Inspectors for them to check. Failure to do so can result in a fine of £1000. Due to former employees being able to make claims retrospectively, employers must hold copies of their certificates for at least 40 years, as some diseases or other medical conditions can develop years after they were first caused.
This liability doesn’t stop with employees based in England, Scotland and Wales, but also applies for offshore installations, like oil rigs. The only exception is for employees based abroad. In such cases, employers must make efforts to check the laws in the respective countries where their workers are based.
Cover is subject to insurers underwriting criteria, policy terms and conditions available on request.
Find further information here on Public Liability Insurance or speak to one of our RAC advisers on 0333 130 0845 to get a quote.
