Business Combined Insurance
Business Insurance; What do we mean?
Easy………….. everything you need to insure your business!!!
What do you need to insure your Business?
For most Businesses it will mean some form of a Combined Insurance Policy, a Motor Insurance Policy Professional Indemnity Policy and many others. But here we are going to talk about the Combined Insurance Policy
What is a Combined Insurance Policy?
In other articles we cover more detail, but a brief description of the Policy and what it covers could be broken down in the following main areas.
- Material Damage
In any business there will be some Property to insure. It can vary greatly including at one end of the spectrum large building complexes through to small amounts of office equipment. These items can all be insured under a Combined Insurance Policy. There are other less obvious Sections to the Policy such as Business Interruption, Money Cover, Breakage of Glass. Details can be found elsewhere.
The is Liability Section of the Combined Insurance Policy is divided in to two parts which are;
- Employers Liability
- Public and Products Liability
The titles are fairly self-explanatory. In broad terms Employers Liability indemnifies the employer
Against any losses arising from an accident in the workplace.
Public Liability provides cover against any events caused by your negligence which may give rise to a claim from a third party.
Products Liability covers you against claims for injury which may arise as a result of faulty goods. It should not be confused with Products Guarantee which insures the goods themselves.
This is very much an overview of a Business Combined Insurance Policy. We would always advise that you discuss the details with a professional to have a full understanding of your Policy.