FAQs

What will I need to obtain a quotation?
Try to have your existing insurance schedule and renewal notice available as this will give us the majority of the information that we will need. However, if you do not have this to hand or are a new business, don’t worry – our dedicated team will be able to guide you through the quotation.

How long will it take to get a price?
Quotations usually take 5-10 minutes to complete with a price available immediately in most cases, if not the same day.

How much should I insure my building for?
Buildings should be insured for the cost of rebuilding, not for their market value.  A sum should also be added for architects’ fees, debris removal, and the cost of meeting any local authority requirements.  We recommend you undertake a formal valuation with a qualified surveyor.

For more details on an affordable desktop survey solution to avoid insuring incorrectly, and in particular under insuring see HERE.

How much should I insure my trade contents for?
All contents should be insured for their replacement value as new.  When assessing your overall sum insured, you should take into account a sum for all stock, including but not limited to furniture, fixtures and fittings, shop fronts, improvements and decorations.  We recommend you take an inventory of all your contents.

How do I take out a policy should I wish to proceed?
You need to call us on freecall.  You should have received either a verbal or written quotation – with a quote reference.  Please speak with one of our operators giving our quote reference and our operator will take you through the procedure.

How can I pay for my insurance?
We accept  the following payment methods – Cheque (we are unable to incept cover until received) Credit/Debit card, Direct Debit over 1, 3 or 12 months.

Are Morgan Richardson authorised?
Morgan Richardson Ltd are Authorised and Regulated by the Financial Conduct Authority (FCA) No. 309135

When do I receive my policy and Employers Liability Certificate?
As soon as the policy is incepted,  your policy and all documents will be sent out to you the same day where possible.

What do I need to do in the event of a claim?
To make a claim, you telephone our Dedicated Claims Helpline which is available 24 hours a day, 365 days per year.  Have your policy number ready when calling and if you need to undertake repairs as a matter of emergency (such as a burst pipe or restoring a storm damaged roof) to prevent further damage the Claims Helpline team will direct you.

What are the “Minimum Standards of Security”?
All Morgan Richardson products include “Minimum Standards of Security”, details will be provided with your quotation and can be found in the Policy Summary.

What guidance can you give regarding intruder alarms?
We recommend the use of a contractor who is a member of the National Security Inspectorate (NSI) or the Security Systems and Alarms Inspection Board (SSAIB). In some cases an alarm will be a requirement of the cover and this will be explained in more detail with each quotation given.

What happens when my Insurance is due for Renewal?
We will advise you in good time before your Insurance is due for renewal.  At the time of inviting renewal, we will provide you with terms and renewal premium offered by your existing Insurer or alternative Insurers from our panel.  We will ask you if there have been any changes to your business and also remind you to make sure your sums insured are still adequate.

Why do I have to provide an ERN/PAYE number?
With effect from 1st April 2012 all insurers and brokers are required to collect an ERN (Employer Reference Number or PAYE NUMBER)  from any business buying Employers Liability Insurance.  The information is then uploaded to the Employers Liability Database together with your EL policy information.  It is important to note that the ERN is not collected by insurers or brokers for any tax purposes, nor can anyone search and retrieve your ERN from the database; it is used purely for matching an employee’s search for the insurance policy that covers the period of an injury or illness.  Further information for employers can be found at http://www.elto.org.uk/Documents/ELTO_Guide_for_Employers_Jan2012.pdf

Where can I find my ERN/PAYE number?
The ERN/PAYE number is found on many documents from HM Customs & Revenue including P35 End of Year Return, P45, P60, P11/D and many payslips.  The reference number will normally begin with three numbers (representing the tax office whose catchment area the employer falls into) followed by a forward slash and then a combination of letters and numbers e.g.123/AB4567.

What if I do not have an ERN/PAYE number?
Not all employers will have an ERN/PAYE number.  If you do not deduct tax and national insurance from employees’ salaries i.e if they receive less than the threshold (currently £623 per month as at March 2012) you will be exempt.  Confirmation of this is adequate and will be noted on the Employers’ Liability Database.

Does this apply to all Insurance Companies or can I take out a policy elsewhere without providing this information?
No, with effect from 1st April 2012 all Insurers are required to provide this information to the ELTO (Employers Liability Tracing Office).