Commercial Combined Insurance

Commercial combined insurance is a package policy which includes multiple types of insurance cover within one policy and is tailored to the specific business’s individual needs. It has a single premium and single renewal date.

Even companies operating in the same sector are likely to have different business models, processes, computers, machinery, staff numbers etc., meaning their commercial combined policies will need to reflect their individual requirements. As such commercial combined insurance is the go-to policy for warehouses, wholesalers, manufacturers, workshops, factories, importers, exporters and distributors, and more.

The policy covers a variety of risks, but its main pillars are liability and property insurance. Every commercial combined package is built with you as the specific client in mind to match your business requirements.

It can include covers for public and product liability; employers’ liability; work away; machinery and plant; tenants improvements; fixtures and fittings; tools; equipment; computers; electronic items; stock of raw materials; work in progress and finished stock; book debts; money; glass; goods in transit; plus many more. These covers include protection against various perils like fire, theft, storm, flood, accidental damage, malicious damage and more.

Our advisers will be happy to provide you with more details, so feel free to get in touch.

Commercial combined insurance is almost like a pick n mix for your business – you explain your needs to us, we find the most relevant covers and put them together for you in one easy-to-use policy. The following factors, amongst others, will play a role in the contents of the package we will offer to you: your business size, location, number of employees, turnover, industry sector, market reach (domestic / foreign), activities, processes and machinery used. Getting to grips with your business intricacies will allow us to better understand risks it is facing on daily basis and suggest a bespoke solution to protect you, the business owner, from them.

Commercial combined insurance can protect your property and business assets from loss or damage in the event of an insured loss. Whilst it is not a legal requirement, it’s certainly a prudent decision to arrange and gain financial protection. In many instances loss or damage cover is often a minimum requirement if you have arranged a commercial mortgage or lease equipment.

Commercial combined insurance is flexible and a policy can be tailored precisely for your business. If you employ staff you are legally required to arrange employers liability insurance which can be included alongside public and product liability insurance. 

One policy. One renewal date. One premium.

By bundling your cover together, you can create a flexible policy which can be more cost efficient than buying various insurances separately. You can amend the policy at any time to add or remove specific covers from your policy. Packaging your insurance under one policy with a single renewal date helps to manage your time efficiently.

Business insurance is not as simple as home insurance or car insurance. When a commercial insurance policy is put together, your business will be assessed for potential risk on an individual basis.

If you have had a claim in the past it is good practice to review the cause of loss and take action where possible to reduce the potential for it occurring again. This could be a combination of revised procedures, processes and/or improved security. Demonstrating that you have learned from the incident and implemented risk mitigation factors lowers the chance of claims reoccurring.

Improving how your risk management is perceived can increase the number of insurers we can approach for quotations and enables us to negotiate better terms for your insurance cover and premiums.

Any business employing any staff (whether they are full time, part time, labour-only sub-contractors or volunteers) needs employers’ liability insurance as a legal requirement. One of our advisers will be able to add this to your quote, so feel free to ask us.

When you take out or renew a policy including employers' liability insurance with us, we will provide you with a certificate of employers' liability insurance that will state the companies covered by the policy. This must be displayed where your employees can read it. You may display your certificate electronically but if you choose to do so you must ensure that your employees know how and where to find it and have reasonable access.

Yes. A variable level of cover is available against theft of your commercial property stock and contents, as well as optional covers against theft of money on the premises. Insurers security requirements will take into account your location, a type and amount of theft attractive property, i.e. stock, computers, business equipment as well as possessions.

For general contents - you must insure for the full replacement value at today's prices.

For stock, the values must represent the replacement cost to you as the policyholder. Costs can vary depending on your position in the supply chain (manufacturer, wholesaler, retailer or the end consumer).

Your buildings sum insured should represent the current rebuilding value of the property following a total loss, including labour and material and the costs of debris removal, architects' and surveyors fees and other professional costs.

You can contact the Royal Institute of Chartered Surveyors (RICS) for independent professional advice. As the costs of labour and materials can change we recommend you have a professional rebuild valuation survey conducted regularly – at least every three years.

Yes. we are able to cover properties that become unoccupied for up to 30 days on a standard package for fire, lightning, explosion and aircraft. This period may be extended with full details and referral to insurers.
We can arrange cover for properties that are unoccupied for periods longer than 30 days with some of our specialist insurers.

The premiums are generally refunded on a pro-rata basis. Therefore, if you have paid in full for the year then you would be entitled to a return of premium (minus commission and fee). Likewise, if you are paying by direct debit there will either be an outstanding balance to pay or a return due back to you, depending on where your payments fall in the month. Most insurers are unlikely to allow a refund where a claim(s) have been made in the current year.

In the event of a severe fire loss (or other insured peril) your property would not be fit for occupation, and you may suffer a loss of rental income until the property has been fully repaired. The length of time it will take to repair your building will vary from customer to customer.

All buildings are different - and you must take into account the location, age, type and construction of the property. Specialist properties, grade 1 and 2, can take longer to build due to the building materials and specialist building skills required. It is best to be cautious and consider a minimum of 24 months or longer, as there is always the chance of unexpected and unforeseen difficulties causing delay.

If you need cover for subsidence, we can provide it. However, there is a 'but' – if your property has a history of subsidence we’ll require an inspection of the property to establish the risk of further damage before we provide cover.

All insurers are wary of properties with subsidence, even if it was 10 years ago, but usually we won’t have trouble finding you insurance as long as you can provide the correct paperwork to prove the initial cause has been dealt with and subsequent checks have been made. Speak to us on the phone, or via email, and we can discuss your options with you.

Yes, you can pay your commercial combined insurance in instalments. To help you spread the cost of your premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page to find out more.

If you would like to know more about our monthly payment option, please visit our dedicated Direct Debit page.

1. Security – Financial security and peace of mind is foremost. Therefore, using an insurer, with a good credit rating provided by a recognised rating agencies such as Standard and Poors, AM Best or Fitch, is very important.
2. Reputation – Make sure you find a reputable insurance broker who will give you the right advice to get the right insurance for what you need and to explain the terms and conditions of your cover and any exemptions.
3. Service – Finally you need to find an insurance broker with great customer service and a strong claims service.