3 Reasons Why Small Businesses Should Consider Commercial Combined Insurance

August 8, 2018

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Written By Callum Watkins, Digital Marketing Executive at 1st Choice Insurance

Commercial Combined Insurance is a type of insurance where multiple covers are combined to form one solid package. Typically considered more suitable for large businesses, this blog will outline some key reasons why SME’s should take advantage of the benefits it has to offer.

Typically commercial insurance was considered a great option for large businesses with ‘complex’ insurance needs. The truth is whatever the size of your business, whatever you do, your insurance needs have become ‘more’ complex. That’s where combined insurance can really help small to medium-sized businesses. In a nutshell, it’s more flexible, easier to manage and it can save you money. Let’s dive right in!


What is Commercial Combined Insurance?

Commercial combined is a policy that groups together a range of different protections under a single policy. This is a more comprehensive, flexible policy where the policy can be built around individual organisations needs, allowing them to pick and choose the levels of cover they need. Ultimately, this saves the policyholder time, hassle and money as they only have to deal with one policy, and one supplier.


1.    It’s bespoke, flexible and offers peace of mind

Who doesn’t love flexibility? As consumers, we’ve become accustomed to choice. From the seemingly endless options of coffee on the menu to scrolling through 50 titles to find the perfect film, we like things to suit us. This doesn’t change when you’re a small business owner, and this doesn’t need to change when it comes to your insurance.

Commercial combined insurance allows you to look at the unique needs of your business and build a totally bespoke policy to suit. Let’s say your business is a local pizza restaurant. Your risks differ completely from a cleaning company. Therefore combined insurance will offer a more suitable, bespoke level of protection than an off the shelf business insurance policy.

By considering your risks, you can choose the cover you need. Employees could get burnt in a kitchen, customers could slip on the stairs, food could get contaminated, or a water pipe could burst, rendering your business non-operational. Commercial combined insurance allows you to look at each risk, and cover it. So you could add public and employer’s liability, products liability, buildings and contents insurance, and business interruption insurance to one, easy to manage policy. Need more levels of protection, perhaps insurance to cover cash on site? No problem. Just add it to your policy. This is the reason commercial combined insurance is considering more flexible. 


2.    It’s easier to manage, saving you time and hassle

This is possibly the main reason smaller businesses love a commercial combined policy. Insurance can be draining for small businesses with small teams. It’s time-consuming, requires administration to understand each policy. Not to mention all the paperwork!

Let’s say you’re looking for the very best value on each policy. You could end up having 15 policies, with 15 different companies, leaving you unsure what each cover, what policy is with who and whom to call should you need to claim. Now that’s a nightmare.

Commercial combined insurance allows you to cover all your needs on one policy. You deal with one set of paperwork, one supplier, and one phone number - making it much easier to manage and understand. It also makes your policy easier to compare when it comes to your renewal. To summarise, commercial combined saves your business time and hassle, allowing you to spend more time running your business.


3.    Commercial Combined often saves you money

The idea that commercial combined is some kind of big, overly expensive policy is a myth. Over time the offering from insurers has been much more bespoke and customisable to the needs of smaller business. This is reflected in its cost. Sure you could build a huge expensive package, but for a small to medium-sized business, just add the levels of protection to truly need. This means you’re not paying for unnecessary insurance.

You can also expect bulk discounts. If you are going to take out 10 different policies and combine them together with one supplier, you can often benefit from bulk discounts, offers, or certainly more room to negotiate.


Consider combined insurance next time!

We hope we have now clearly explained the key reasons why we recommend smaller businesses should consider a commercial combined policy. Next time you’re looking to take out insurance, add more cover or you come to renew, you’re better prepared to save yourself time, money, and get a better level of protection. For more information, you can always check out our site here.

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