Every business requires a wide range of insurance policies for security against a variety of possible events, something that may happen. Commercial combined insurance gives a suitable solution for business organisations that need to cover against the numerous liabilities that may happen. it does not matter what is your business size whether huge or small. Having the right insurance policy in place is extremely important.
What is a commercial combined insurance policy?
Commercial combined insurance is a policy which is designed for providing multiple liabilities in one policy. In most cases, this type of insurance will include property damage, business interruption, employer liability, public liability, personal accident cover, money and goods in transit.
This insurance policy is suitable for those companies that need complete protection, customised to your requirements, without the stress of managing multiple policies.
What are the features of commercial combined insurance?
This policy can be customised to your personal range of work requirements, this policy gives you a wide variety of covers under one policy and you don’t need to add any extra liability expenses, an accessible and comprehensive policy.
We can assume many various factors for your combined insurance policy such as the size of your business, your area location, the number of employees, your turnover, the industry sector, market distance, activities, processes and machinery used to name a few.
This policy contains a large number of covers available through a policy. Including but not limited to
Public liability insurance:
This feature provides you coverage against any claim from the public and will cover legal costs which you buy as a member of the public liability insurance. In public liability insurance, you can include cover against damage to your property, accidental injury. And the cost of medical treatments.
This feature provides cover against theft or any damage to your stock in case of fire and any other accidental activities inside the warehouse.
Employers liability insurance:
If you have any employees then it is a legal requirement to have employer’s liability insurance. If any of your employee costs are associated with disease, illness or death of employees. While they are working for your business. This cover will pay for you.
Product liability insurance:
If you suffer any loss while production of a product due to defective raw material or damage caused by your products or fire happen in the production department. This cover will protect you from any loss in production.
Property damage insurance:
This feature will cover you against any loss or damage to your property like building machinery furnishing stock in trade. You can select it for your commercial combined insurance policy.
Personal accident insurance:
Personal accident insurance will cover you in case of resulting a bodily injury happens unfortunately or disablement. And you and your team can’t work. This cover will protect your business in the event of death.
Business interruption insurance:
This type will protect you and your business if you are closing your business due to insolvency, flood or fire. For example, business interruption insurance covers your loss of profit, increasing cost, and loss of book debts.