Author: FSB Insurance Services
Often Small Businesses need specialised insurance that's bespoke to the businesses specific needs. There's a lot a variety in the small business world, a florist won't need the same cover as a tank restorer after all.
Consequently we provide a lot of Commercial Combined Insurance packages, this is insurance that's tailored to your needs, it's not one size fits all, but it might be the right type of policy for your business.
We caught up with our CEO David Perry to grill him about the ins and outs of Commercial Combined Insurance policies.
What Is Commercial Combined Insurance?
"It is a type of policy which is built of different sections, each tailored to your needs. For example; Material Damage, Business Interruption, Liability and so on."
What Does Commercial Combined Insurance Cover?
"At one time, each section of a CC policy would have been sold as an individual policy. A CC policy simply takes all of those policies and sticks them together in one."
Can I Have 2 Commercial Combined Policies?
"If you only have one business you shouldn’t need more than one. if you have different business interests, you can have one for each."
What Do I Need To Look Out For In A CC Insurance Policies Wording?
"Most smaller businesses start with a package policy. This is a form of Commercial Combined but packaged up for specific types of business with terms and extensions which suit most firms in the class. If you need a policy bespoke to your specific business needs, a CC policy is better. Taking advice from a good insurance broker is essential."
What Is A Commercial Combined Proposal Form?
"This is the form which you may be asked to complete, giving all of the details about your business needed for an Insurer to provide terms. It will include detail about what you do, how and where you do it, the things which you ant to insure and how much for."
What Business Can Benefit From A Commercial Combined Policy?
"Generally, it will be a business which is has complexities taking it outside the scope of a package policy. For example, most retail shops should be ok with a generic package policy designed for all shops. However, if the shop also manufactures/delivers/installs, then the business will need more than a standard package can provide."
If My Business Has Previous Claims Can I Still Take Out A Commercial Combined Policy?
"Claims should not preclude you from buying a Commercial Combined policy but Insurers will want full details and to understand that action has been taken (if possible) to prevent the same thing from happening again."
Why Does My Business Need Commercial Combined Insurance?
"Because your business has specific insurance requirements which can’t be packaged up into a generic policy. If this is use, get advice in order to get it right."
Want to know more about Commercial Combined Insurance? Or do you just need some guidance about your insurance? Don't worry we've got your back, just complete the form below and we will call you back as soon as possible.
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