Commercial Combined insurance protects your business assets from a number of unforeseen losses including damage, theft, fire, natural disasters (such as floods and storms) and vandalism. This insurance provides cover for your buildings, machinery, business stock and equipment and all other contents within the building premises.
No matter what size your business maybe you need to protect your business from various risks and any other claims that might arise during the course of business. The purpose of commercial combined insurance is to integrate different types of insurance into one policy that covers all the important areas of your business.
Commercial Combined insurance generally includes buildings insurance, stock insurance, employers liability insurance, public liability insurance and business interruption insurance. Sometimes it can include professional indemnity insurance and products liability insurance as well. The exact cover will vary depending on the nature and size of your business and the risks you face.
It is always advisable to consult a professional prior to opting for commercial combined insurance. Different businesses require different elements of insurance cover, therefore, a professional will be able to make sure that the combined policy provides you with the maximum cover and does not limit other important areas of cover.
Some commercial combined insurance policies allow any adjustments to the amount of cover such as in the case of public liability insurance where you can raise the cover from £1million through £2million and on to £5million if needed. You can add in or withdraw sections of cover as required, the policy is more flexible and could be described as a bit of a 'pick'n'mix'.
This type of policy is more suited to large companies that require many different areas of cover. Prior to choosing a commercial combined insurance companies need to determine the element of risk their business is likely to face. This risk assessment may require a visit to the premises by an insurance professional, we at Town & Country are more than happy to visit the client and give our recommendations.
Among the biggest risks are liability to third parties and the costs and damages arising from claims made against a company. Employers liability insurance is mandatory according to law where a business employs, therefore an essential element of any commercial combined insurance package. This insurance protects employees from all potential risks or accidents that may occur at the workplace. Public liability insurance is also essential as it protects a company against any claims made by any visiting public while on its business premises or you are engaged in the course of your disclosed business activities.