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What is Commercial Combined Insurance?

Posted on 16th December 2020 by

Commercial Combined Insurance or sometimes referred to as Business Combined Insurance is a single insurance policy that can be tailored to cover all your business risks.

Typically, a business combined insurance policy provides protection for small businesses who employ staff, own premises and store office equipment on these premises. Examples include small engineering companies and manufacturers, creative media and IT companies, wholesalers and small retailers.


What are the benefits of Business Combined Insurance to you?

Business Combined Insurance offers all round business protection against claims for accident and injury to employees and third parties, general contents and business equipment (including portable equipment), and cover for directors and officers, in one single policy.

Purchasing all types of insurance cover in one policy, instead of individually, can save time and money, and when it comes to renewing your insurance, you will have only one date to remember and one premium to pay.


How much does Commercial Combined Insurance cost?

The price of a commercial combined insurance policy depends on the size of your business, the type of industry you work in and who your insurance provider is.

At Caunce O’Hara, we offer highly competitive rates with Commercial Combined Insurance policies starting from £112.00 per annum (£212.00 per annum for offshore businesses). Contact our team on 0333 321 1403 for further details.

You can download our Commercial Combined Insurance policy wording here.


What cover does Commercial Combined Insurance provide?

Caunce O’Hara commercial combined insurance provides great value to businesses and covers the following:

  • Employer’s Liability insurance for £10 million, covering you for claims from employees for injury or illness during their employment.
  • Public Liability insurance for £1 million, with the option to increase to £5m, if you have to visit client premises or they visit yours.
  • Products Liability insurance (optional) up to £1 million.
  • Directors and Officers Liability insurance from £250,000 if you’re held personally responsible in claims against your business by creditors, employees, customers or regulatory bodies like HMRC. Option to increase cover up to £1 million.
  • Office Contents Insurance up to £5,000 to protect your office contents, computer equipment and furniture against accidental damage and theft, with optional insurance for portable equipment.
  • Portable Equipment Cover of £1,000 as standard, with the option to increase cover up to £5,000.
  • Additional Cost of Working Cover of £2,500 included in the policy to cover expenses incurred for temporary hire of replacement equipment, following damage to any of your items insured under the Office Contents or Portable Equipment sections of the policy.
  • Manual Work Cover (optional).

Level of cover, for each type of insurance, will vary depending on what best suits the size and turnover of your business. Please contact 0333 321 1403 for details.

Click here to purchase cover for your business

Employer’s Liability Insurance

As a limited company, carrying Employers’ Liability insurance is a legal requirement, if you employ one or more people.

Employers Liability insurance will insure your company against its legal liability for loss, damage, injury or disease caused to an employee.

For example, if one of your employees is injured on your premises, Business Combined Insurance will pay the cost of legal fees, court cases and compensation. Often, these fees can run into thousands of pounds which without insurance can damage a business.

Employers Liability insurance is a compulsory insurance requirement under the Employers Liability Act (1969). Not to carry cover, for those with employees, is a criminal offence.

Where a limited company has even a spouse or partner appointed as a director, or if you seek temporary help from someone else, Employers Liability insurance is still required.

Government legislation states that the minimum indemnity limit for employers is £5 million.


Public Liability Insurance

As well as employees, small businesses owe a duty of care and legal liability to the client for any injury or damage caused by you at their premises.

Even if you work with an agency, your contract will not provide insurance for your legal liabilities.

A Public Liability insurance policy provides protection for anyone who has to visit client’s premises or who receive visitors to their own premises.

It covers your business from claims made against it from third parties, for example if you damage your client’s equipment or injure a member of their staff.


Products Liability Insurance

Products Liability insurance is a vital type of cover for any businesses that manufacture or sell physical products.

If you accidentally provide a customer with a faulty product which causes them harm or damage, Products Liability insurance will protect you from the legal and compensatory costs.

Usually, Products Liability insurance is sold as part of a Public Liability insurance policy.


Directors and Officers Liability Insurance

As a director, you could be held personally responsible for your business actions.

While shareholders have limited liability, directors have unlimited personal liability.

Directors and Officers Liability insurance covers your personal assets against claims from people like employees, creditors, regulatory bodies (including HSE and HMRC), customers and suppliers.


Portable Equipment Cover

Portable Equipment insurance will cover you for the loss, theft or damage of your portable electronic equipment, incurred while working away from your own premises or while based at a client’s office.

This covers equipment like laptops, mobile phones and digital cameras to name a few.


General Contents Cover

For those businesses trading from home, most household insurance policies do not cover you for equipment owned by your company, which is why a separate policy is often needed.

General Contents insurance covers your office contents, including computers, furniture, stationary and other equipment when you work from an office or from home.

Your equipment will be covered from theft, fire, water damage from burst pipes and malicious damage.


Additional Cost of Working Cover

‘Additional Cost of Working’ in the Business Combined Insurance policy provides cover for any expenses paid for temporary hire of replacement equipment following damage to any of your items (insured under the General Contents or Portable Equipment sections of the policy).


Manual Work Cover

This type of cover, which is optional in the Commercial Combined Insurance policy, is only needed for those who undertake manual work.

Manual work can be defined as: “incidental to your main profession, involving physical activity using hands or hand tools and which does not account for more than 20% of your turnover or fee income”.

With many potential liabilities, Business Combined Insurance makes it easy for small businesses to gain all the cover they need, in one.

For more information on how you can stay protected with Freelance Insurance, call our friendly team of experts today on 0333 321 1403, or click to get a quick online quote in minutes!

Click here for a quick online business insurance quote


Related articles:

What is the difference between Professional Indemnity Insurance and Public Liability insurance?

Differences between Professional Indemnity and Employers Liability Insurance

FAQs – What contractor insurance do I need?

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