Business insurance can be complicated if businesses have multiple policies with different terms and conditions and renewal dates.
A simple solution for some businesses is to take out a Commercial Combined Insurance policy. This type of insurance is designed to provide insurance cover for multiple exposures under one policy.
In this blog, we’ll look at what commercial combined insurance covers and how it can benefit your business.
What is Commercial Combined Insurance?
To put it simply, Commercial Combined Insurance is a ‘packaged’ insurance policy that allows you to cover a range of risks in one insurance policy.
It avoids a company having to take out different policies for different risks allowing you to choose the level of protection you need.
It can simplify businesses insurance needs into one policy, with one premium and renewal date.
What can Commercial Combined Insurance cover?
Most Commercial Combined Insurance policies will give you options or modules on the areas you wish to cover under the policy, these can include (but are not exclusive):
Public liability insurance
Public liability insurance provides cover to a business if a member of the public gets injured or suffers property damaged as a result of your business’s activities
Employers’ liability insurance
If you employ people (whether part time or full time) it is legal requirement to have employers’ liability insurance. It covers the costs of employee claims for illness or injury caused by their work due to employers' negligence.
Business interruption
Business interruption insurance covers you for loss of income during periods when you cannot carry out business as usual due to an unexpected event and insured peril. This could be following a fire or adverse weather e.g. flood.
Products liability insurance
This is useful for distributors or manufacturers of products. It offers protection from loss and damage, or illness caused by your goods.
Stock cover
This covers you if you suffer a theft and stock is stolen or your stock suffers any damage. It can cover raw materials to finished goods, including goods which may be held in trust.
Commercial property
If you own the building you operate from, then commercial property insurance is crucial to protect you for the cost of rebuilding or repairing if it is damaged.
Directors’ and officers’ insurance (D&O)
Directors and Officers Liability Insurance - also known as ‘Management Liability Insurance or D&O Insurance’ covers the cost of claims made against the company’s directors and key management (referred to as officers) for alleged ‘wrongful acts.’
Money and assault
Losing money, whether by accident or theft, insurance can help to protect against losses from their premises, at their home and whilst in transit.
Legal expenses
Whether it’s debt recovery, an unexpected employment dispute, damage to property or client contract issues, this covers you for misunderstandings and disagreements that result in legal action.
Other optional cover
You can opt for much more cover as part of a commercial combined policy, other areas that policies cover can be:
- Personal accident
- Computer breakdown
- Goods in transit
- Engineering breakdown
- Employee dishonesty
Who can take out Commercial Combined Insurance?
Commercial combined insurance’s flexibility lends itself to businesses of all shapes and sizes in a wide range of sectors. Contact us to find the best cover for your business.
What are the benefits of Commercial Combined Insurance?
Simplicity
There is no need for lots of separate insurance policies through different providers. Everything can be covered in one place, with one insurer and you’ll only have one renewal date to be aware of.
Cost savings
Often, a single business combined insurance quote can work out cheaper than buying individual policies. Many insurance companies offer bulk discounts for taking out various policies together.
Time saving
If you need to make a change, then having cover via one policy can save you a lot of time and hassle.
Cover tailored to your needs
No two companies are the same and flexible approach from Commercial Combined Insurance is bespoke to your business. At Harborough Portas we tailor your commercial combined insurance so that it fits the needs of you and your business perfectly.
Get a Commercial Combined Insurance quote from Harborough Portas
Harborough Portas is an independent insurance broker meaning that we can get cover and quotes from a wide range of leading insurers. Being a local independent broker, who really understands your business, its needs and risk exposure, means we can tailor Commercial Combined Insurance to your requirements.
Getting a quote is easy, contact Harborough Portas today by calling: 0116 260 0506 or email: mail@harboroughportas.com.
