How much the employers liability insurance in NI?

[prjevara]

Hi all,

I am planning to open a small start-up in Belfast soon. But I haven't got a clue how much I should pay for Employers Liability Insurance, and if I choose, for Public Liability Insurance!

Small service, not professional advice, 2 employees, no stock, nothing machinery. Customers don't meet anything what they don't have at home.

Customers have to play games, mostly puzzles.

Please, if anybody can tell me an estimated amount of money I have to pay for these insurance????

Thank you all,

Kornel

[prjevara]

I mean 6.000? Or 12.000? or36.000? I have no idea :(

Perhaps I look ignorant but i am new in this country. Thanks for your help, folks!

[TheGuru2010]

No one will be able to answer that kind of question from the details provided. You will need to talk things through with a broker, let them understand your business & they will provide recommendations on the insurance required.

Best Regards

[lockyer]

We do Insurance in northern Ireland, but as the guru says it needs a chat to come up with pricing.

[prjevara]

Of course, you are both right, out of question, about pricing.

I just hoped I can get a view of a from-to-amount I can calculate with :(

only I know that the company I work for pays 80.000 annually. So I have the top limit because it employs 100 people with a lot of machinery :)

[lockyer]

I think it is fair to say it will be under £1000, given there are only 2 employees, but we cannot firm things up without much more detail

[prjevara]

thanks for your answer!!!

under 1000 per month?
i assume, what you said. It means for me that i can pay it with less than a week income. Hell it's a lot! If it' 1000 per year than it's so low that i have a goldmine:)

Sorry, if I haven't provided more details of the business but it's such a new idea that i am afraid I've given out too much so far!

[prjevara]

lockyer

probably i should talk to you a bit :)

[lockyer]

Click on the link on my signature, and ring the number on the website, I'm Jon.

Ps - I meant annually
Pps - it would include public liability too most likely

[bigmouth241]

If you want to get a rough idea, you can put your details into the Hiscox website - very transparent & quick to do. Its a case of research.

Don't forget, a broker has to make their profit somehow & that is probably going to be reflected in your premiums - you're often better to call the companies yourself & use a bit of intelligence to get the best deal!

[lockyer]

That theory is all well and good, but you are forgetting a few points;

1. brokers provide a proffessional service and give businesses valuable risk advice.
2. the majority of commercial insurers, over 90%, wont deal direct with the clients, as they aren't able to give advice.
3. hiscox products cost the same whether bought direct, or via a broker.
4. Insurers can only advise on their product, and have the insurers best interests at heart, so it is very easy to buy the wrong thing.

[prjevara]

Guys! I really enjoy your conversation :)

You are both right. And I am the one who has to make a decision using my brain.

bigmouth, many thanks for the advice. I will try hiscox, of course. I am gathering information for a good start.

and i will call you lockyer when I am ready, because you were the first who gave me the clue. Really appreciate that

can I ask you about car insurance? :D

[lockyer]

You can, but we tend to be very expensive for Northern Ireland.