Commercial Combined Insurance

Thanks to its capacity to encompass a wide-range of risks, a commercial combined policy can include the following policy elements:

• Public liability – public liability protects you against the costs associated with legal claims from members of the public.  So, if your business, your premises, or your actions lead to illness, injury, or damage to property by members of the public, this policy will help keep you safe from a hefty compensation bill should a successful claim be brought against you
  
• Employers’ liability – do you have employees?  Regardless of whether they’re temporary, part-time, contracted or full-time, employers’ liability is a legal requirement if you have any staff.   Failure to have it in place can lead to a fine of up to £2,500 per day  
  The law says that if you employ at least one person, you must have employers’ liability insurance (sometimes called ‘E.L. insurance’) to protect your employees in case they are injured or become ill as a result of working for you.  Your policy must:
  – Cover you for at least £5 million
  – Be with an authorised insurer
  – And employers must provide a safe working environment
• Business buildings insurance – If you own the building you trade out of, you’ll need commercial buildings insurance to protect your bricks and mortar.  Buildings insurance protects you from the cost of repairing or rebuilding your premises if they are damaged by things such as floods, fires, or vandalism
• Stock cover – as a manufacturer, distributor, retailer, or wholesaler you’ll likely have stock.  You’ll likely have too much to be included in your building’s insurance policy.  This is where stock cover comes in, protecting your valuable goods in the event of storm damage, flood, fire, or theft
• Fixtures and fittings – did you know that under most contents insurance policies your fixtures and fittings aren’t included?  So, if you have a shop full of shelves or an office full of desks – both of which would be costly to replace – it’s important to have fixtures and fittings as part of your insurance protection.  This could save you from hefty bills in the event of a fire, flood or other disasters which could ruin your fixtures and fittings
• Products liability – did you know that if the products you use, recommend, manufacture or sell cause problems, you can be held liable for damages?  As a manufacturer, distributor, wholesaler, or retailer, products are likely to be part of your day-to-day business.   Protecting yourself against the risks that these products can cause is important.  Products liability insurance can protect you if your products cause injury or illness and legal claims are brought against you
• Business machinery – many businesses require machinery to get the job done.  What would happen to yours if anything happened to its machinery?  Could it continue to operate?  Business machinery cover assists you with the cost of repair or replacement of machinery, meaning you can reduce the downtime of your business and get back to work 
• Business interruption – if your business was forced to close for a period of time, the effects could be catastrophic.  With mounting bills and no income, it can be a business-threatening situation.  Thankfully, business interruption cover can be there for you and provide you with an income while your business’s doors are closed.  A great policy element for great peace of mind
• Goods in transit – do you have delivery vehicles, move your own goods around or deliver them to clients?   If so, standard vehicle insurance won’t be enough to protect them and their contents while they are on the road.   For that, you’ll need goods in transit insurance.  Goods in transit cover does what it says on the tin: it protects the contents of a vehicle while they are out for delivery or are being moved.  From your business products to the driver’s personal effects, goods in transit has you covered while on the road
• Directors’ and officers’ insurance (D&O) – as the leaders of the business, senior figures can often be personally liable for a business’s actions and face hefty financial losses should legal action go against them.  Directors’ and officers’ insurance – or D&O insurance as its also known – protects your senior members from potential financial losses, meaning they can focus on doing their jobs