EPLI insurance renewal secrets for 3PL warehouse success
Financial Implications and Cost Considerations
The cost of EPLI insurance can vary based on several factors, including the size of your business, the number of employees, and your claims history. On average, small businesses can expect to pay between $800 and $3,000 annually for EPLI coverage3. However, by actively managing risks and negotiating with insurers, you may find opportunities to lower these costs. For instance, implementing employee training programs and establishing clear HR policies can demonstrate a commitment to maintaining a safe and fair workplace, potentially leading to premium reductions.