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What is Commercial Combined Insurance?
Commercial Combined insurance is a flexible multi-section insurance policy which, at it’s simplest, can cover your Assets (Buildings, Contents and Stock), Earnings (Loss of Profits) and Liabilities (Employers, Public and Products) under one single policy with a single premium and renewal date, reducing administration, thereby saving you money.
What type of businesses can buy Commercial Combined insurance?
Pretty much every business could buy this type of insurance, but whether they should is a different matter.
It’s our job, as your broker, to research all the options for you. This type of insurance is traditionally purchased by Manufacturers and Warehouses, as Offices, Retailers, Contractors and Motor Traders have the option of buying more bespoke packages.
What does a Commercial Combined Insurance policy actually cover?
The basic policy will cover damage to your assets by a list of specified perils including fire, lightning, explosion, aircraft, riot, vandalism, storm, flood, burst pipes, impact, theft and subsidence.
It can also be extended (and we would always recommend this) to include accidental damage. That way, you’d be covered if, for example, someone spills gloss paint all over your stock or accidentally broke a machine by knocking it over.
Once the core cover has been triggered this will allow you to claim for loss of profits if you can’t trade.
It also covers Public Liability (in case someone enters your premises and slips on the floor), Employers Liability (as required by law, in case a staff member gets hurt in the course of their employment) and Products Liability (in case something you’ve sold hurts someone or causes damage to their property).
The policy can be extended to cover damage to glass, loss of money and damage to goods in transit, as well as to cover terrorism, fidelity (cash by an employee), cyber and engineering breakdown.
How much does Commercial Combined insurance cost?
The cost of commercial combined insurance depends on so many factors.
The main factors considered include where you are based, what your business does and what size it is. We have clients paying us premiums in the range of £250 to £100,000 per annum.
Have a question?
Our team is
here to help!
One of our team will talk to you about your current circumstances in order to advise the best way forward. If you’d prefer to visit us at our offices in Tamworth, feel free to pop in! Just check our office hours on Google to make sure we’re open.
Insurance policies are only there to cover possibilities NOT probabilities, and global warming continues to cause water levels to rise. More and more insurers are looking to exclude flood damage in higher risk areas to protect their organisation and remain in business, but standalone specialist flood insurance is available in most cases. This might mean that, if you live near water, you might have to buy two policies instead of one, but Prizm Solutions’ deals with over 100 different insurers for that very reason, so we can get you the best deal in terms of cover and price.
Yes you can, although other more tailored policies may be more suitable. It depends what items you are importing/exporting, to/from which countries and the sums that need insuring. As an insurance broker, it’s our job to get you the best combination of cover and premium based on your specific requirements – so get in touch for a no obligation quote.
Without commercial combined insurance, whatever damage is caused to your property, you’ll have to pay for. Likewise, if someone gets injured on your premises or because of something you’ve sold them you’ll have to pay for that too, which could be REALLY expensive.
Should you need to make a claim, make Prizm Solutions your first port of call. As your broker, we are here to help. If your call is out of hours, all insurers operate 24/7 claims lines, and we’ll inform you of these when you take out the policy.
At Prizm, we primarily deal with Aviva, AXA, NIG, Royal Sun Alliance, Ecclesiastical, Covea, Jensten, Accelerate, QBE, MI Commercial, Zurich, Allianz, Victor, Chubb, Hiscox, Eaton Gate, NBS, Touchstone, Breeze, Commercial Express, Arch and Lloyds underwriters although the companies offering this insurance may change as the market changes.
If you need to make a claim on your insurance, you need to call your insurance broker or insurance company straight away.
If you have a policy with Prizm Solutions, then you simply call us.
As your broker, we are here to help – and we will provide you with all the contact numbers you need to deal with a claim when you take out the policy.
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Prizm Solutions Limited
First Floor
The White House
16/20 Church Street
Tamworth
B79 7DH
Prizm Solutions Ltd are authorised and regulated by the Financial Conduct Authority.
Prizm Solutions Ltd are registered in England and Wales, Registration Number: 05936749, Registered Address: First Floor, The White House, 16/20 Church Street, Tamworth, B79 7DH.
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We’re here to assist you to put plans in place, to help provide you with some protection from those unexpected curveballs that can be a normal aspect of everyday life!
So, let us help you find the right cover for you.
01827 313 931
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