Combined liability insurance

Combined liability insurance for small and large business, One short form – save time & money

What Is A Combined Liability Insurance Policy?

A combined liability insurance policy, or commercial combined policy, is an insurance policy that aims to cover a broad category of risks, enabling a business to create a turnkey solution to their insurance needs.

The combined insurance policy will be made up of multiple types of cover and is designed to give your business peace of mind that everything is taken care of. The bigger your business grows, often the more complex it becomes, and ensuring that all of the risks associated with a complex process are indemnified can be a daunting task. This is where combined insurance comes in. 

Who Is A Combined Liability Insurance Package For?

A combined liability or commercial combined policy is for those businesses that need cover for a range of risks that can vary from large portfolios of properties to complex operations in a huge variety of trades and industries. The policy is really versatile and can be taken out by any type of business that seeks a more bespoke policy. 

A combined liability or commercial combined policy is for those businesses that need cover for a range of risks that can vary from large portfolios of properties to complex operations in a huge variety of trades and industries. The policy is really versatile and can be taken out by any type of business that seeks a more bespoke policy.

Components Of A Combined Liability Insurance Policy

  • Public Liability - This element of the insurance policy will cover your business for losses that it may incur on the public. These may be injuries sustained by the public due to actions of the business, or damage to another’s property caused by the business.
  • Employer's Liability - This section will offer cover to the workers of the business. They will be protected against injury, illness, or any conditions that are picked up by a worker while operating on behalf of the business.
  • Product Liability - This type of insurance will protect your business against legal action following an injury or accident resulting in a loss to a customer caused by the final product of your business. An example of this type of cover coming into play would be if a hand warmer product was causing burns to the customers.
  • Professional Indemnity (optional)- This cover is aimed at protecting the company from possible professional negligence of its employees. An example of this type of loss is a lawsuit from the mishandling of sensitive documents resulting in a data breach. 
  • Property (optional) - Most buildings, both occupied and unoccupied, can be insured for various risks. The most common risks include fire, lightning, earthquake, flood, subsidence, theft, and aircraft collision.
  • Goods In Transit  (optional)- This aspect of the policy will protect the goods that you want transported while they are between destinations. This can be the responsibility either of the buyer or seller at different stages of the transit.
  • Business Interruption (optional) - Any business may consider getting cover for their revenue in the event of a forced stop. This type of stoppage can occur unexpectedly and for prolonged periods of time, which can lead to devastating outcomes for businesses. 
  • Legal  (optional)- This type of cover is used in the event that you have to pay legal fees for any kind of legal matter involving the subject of insurance. If you win the case, the fees are paid by the other side, but if you lose, you’ll have to bear the cost if you don’t have legal insurance. You will generally be covered for between £50,000 - £100,000.
  • Pecuniary (Money) Covers (optional)- This is a subset of liabilities, which will cover loss of money in many different circumstances, such as business interruption, theft of petty cash, embezzlement, fraud, and employee dishonesty.

What is the difference between personal and public liability insurance?

One aspect of the combined insurance that distinguishes it from other policies required by individuals as opposed to limited companies is the use of public liability in place of personal liability.

When an individual seeks insurance against themselves accidentally breaking or damaging someone else’s property, or injuring someone else, they’ll take out personal insurance, which helps them function in the world without fear of legal repercussions from accidents and unexpected rainy day expenses.

Public Liability is the commercial version of that, which helps businesses operate without fear of rainy day expenses caused by unfortunate loss events involving the public.

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