How do the majority of commercial users on RIBnet insure their operations and employees? Do people have one policy that covers everything, or individual policies for separate elements?
The question comes about because I have been running commercially for nearly a year, but due to changes in the harbour - and now having limited time alongside the wall to load and unload passengers - I have found myself needing to employ someone to help out on the quayside over the coming summer (kitting out passengers etc). The Employers Liability Insurance quote is for a separate policy (other 'main' policy not due for renewal for a couple of months).
The quote that I've had (for 1 employee) is an additional 40% of the policy that covers me, my RIB, and my passengers for a whole year. Does this sound right? It seems excessive to me!!
I've got the hull with one company, the Passenger liability with another and finally crew liability with another all arranged through a broker. AFAIR the Crew aspect was only an additional £60 odd pounds per member.
cheers
Andy
P.S The other boats insurance is the same way
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Hard or Soft it's never BIG enough
The Liability is Haven Commercial and Amlin through Giles Insurance in Irvine (Jim Bell), and the Hardboats is through Bristol Channel Marine (Tony Burris). Both crew policies were taken out at the time of the main policy.
HTH
Andy
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Hard or Soft it's never BIG enough
Noted with interest the above discussion reference employee insurance and asset cover. Without wishing to sound like a broken record or indeed a cheesy advert for Knighthood they do offer the whole shooting match in one easily understood format. We have all our employees insured as part of our policy for very little extra cost. The details can be found from Knighthood themselves http://www.knighthoodcorporate.com/about/contact.htm
Richard Wilkes is the POC.
(And before anyone suggests it no I'm not on a commission or lowered premiums......more's the pity!!) I just appreciated their honesty, openess and helpful can-do attitude.
The problem appears to be if you want to add Employers Liability Insurance on as an extra part way through the cover year. My insurance runs Aug to Aug, and employing someone over the summer became an option at the end of April. It just seems a bit stupid (inflexible) not to be able to upgrade policies or get sections added in at a later date. Also, paying an annual fee for someone who will be employed for 3 or 4 months of that year maximum seems inflexible too.
And don't even start me on the stuff that HMRC have sent me. No wonder plumbers/electricians don't employ people to help out any more - HOW complicated?
If I'm approving a sub - contractor for work the minimum level of E/L these days is £10m per case.
You may also need to look into Public / Product liability cover also. They generally come together. Standard levels for this are about £2m per case.
all arranged through a broker. AFAIR the Crew aspect was only an additional £60 odd pounds per member.
