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Employment Practices Liability Insurance (EPLI)
EPLI protects your tech company when it’s accused of violating an employee’s rights.
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Overview
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Coverage
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Cost

How much does employment practices liability insurance cost?

The cost of EPLI primarily depends on the number of employees at your tech company.

EPLI costs for TechInsurance customers

Tech companies pay a median premium of $182 per month, or $2,178 per year, for employment practices liability insurance.

This policy could cost less if your business has a startup-sized business and staff. The more people involved in the company, the more need to be covered in case of an EPLI-related claim.

Policy limits affect your EPLI premium

Tech companies that are more at risk of employee lawsuits should opt for higher policy limits. Higher limits cost more, but you can also receive a higher payout on a claim.

The median limit for EPLI is $1 million, and the median deductible is $5,000. That means the policy would pay up to $1 million on a claim. However, the policyholder must pay the deductible of $5,000 before collecting on a claim.

Compare small business insurance quotes for your tech company

Tips for saving money on EPLI

Pay your annual premium in full. When you purchase a policy, you can pay your premium in monthly or annual installments. The annual premium often costs less than paying month by month.

Risk management. Technology companies with no previous claims on their insurance can expect to pay less for business insurance. Business owners can avoid claims with a risk management plan. That could include:

  • Instilling harassment prevention workshops to talk about what is and is not acceptable in the workplace
  • Forming and maintaining a strong human resources department that regulates employee behavior
  • Streamlining company protocols for what warrants employee hiring and firing
  • Prioritizing responses to employee claims of harassment or violations of other rights

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