4/5/2024 0 Comments Wrongful termination quotesRequest a quote What Are the Limits on an EPLI Policy?Ĭommonly, EPLI coverage comes with limits between $1 million and $25 million. If you have a human resources departmentĪn independent insurance agent can provide you with exact quotes for coverage available in your area.Employment practices liability premiums are often rated on the following factors: Like any other business insurance out there, pricing is customized to your policy's specifics. Depending on your location, you might pay less than $1,500 per year for $1 million in coverage, if you have five or fewer employees. How Much Does Employment Practices Liability Insurance Cost?Ĭarriers use personal data and outside elements to figure your costs. An independent insurance agent can provide you with even more examples of why having EPLI coverage is a good idea for your business. Your business can be sued for any of these routine operations by its employees. Allows employee interaction with coworkers, customers, or other third-parties.Distributes information about its employees.Especially if your business does any of the following: Though coverage may not be required by law, it's really important to have it. Do I Need Employment Practices Liability Insurance? Your business needs to be equipped with this critical coverage before it ever opens its doors. Having the proper protection can mean the difference between success and failure. You may also be protected against claims filed by third-parties. Your employees are covered against various claims under EPLI, along with the business owner, directors, officers, and management staff. Who Is Covered by Employment Practices Liability Insurance? If you have further questions about which exclusions apply to your specific EPLI policy, an independent insurance agent can help you review your coverage. These are a few of the most common coverage exclusions: Though employment practices liability insurance provides a ton of critical protection for businesses everywhere, it can’t cover everything. What Doesn't Employment Practices Liability Insurance Cover? With quality coverage from an outstanding carrier overall, The Hartford easily earns our recommendation as the top choice for ELPI coverage. ![]()
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