Commercial Combined Insurance
What is Commercial Combined insurance?
This is a tailored package insurance policy that provides cover for the most common risks facing businesss. andhas sections to cover Assets, Liabilities and Loss of revenue/Business Interruption. Exactly what your insurance policy covers depends on the unique combination of what the business produces or sells and how they do it.
Coverage can be tailored to the specific needs of the but commonly cover is included for:
Machinery and Plant
Premises whether owned or leased.
Fixtures and Fittings
Stock and Finished goods
Tools and Equipment
Business Contents and Computer Equipment
Cover for any other assets
Other Coverages that can be added:
What types of business need Commercial Combined liability insurance?
Any business that owns or leases a premises and has a combination of assets and liabilities requiring insurance.
Is Commercial Combined Insurance insurance compulsory?
Aspects of your insurance policy are compulsory such as Employer’s Liability whereas others such as public liability and contents insurance may be a requirement of your landlord. Insuring your premises and tools & machinery are vital to ensure that you have some financial protection if there is an unfortunate event like a fire or flood.
In the EU products liability claims rest with the manufacturer so protection is absolutely vital along with consideration for product recall and in some case product guarantee insurance. Read our recent blog on products liability for more information.
If you are importing and exporting goods then there are a number of considerations to ensure your goods are protected both when they are coming to you and when you are sending them to clients. Where you are sending or sourcing goods from has a major impact on the cost and extent of products liability insurance that you need and you may want to consider if you need to invest in products recall insurance, especially if you are also a maker or manufacturer.
How much cover do I need?
That depends on a number of factors including the sort of work you are doing, the type of client you are working for, the value of your assets.
Where can I get a Commercial Combined quote?