What is Combined Liability Insurance?
Combined Liability Insurance is a type of combined business insurance which helps protect your company from costs incurred through negligence. We can arrange Public Liability Insurance and Employers’ Liability Insurance as individual policies, but with Combined Liability Insurance you can bring all your liability insurance into one single product.
Combined Liability Insurance is a combined insurance package for businesses. It can include:
• Public Liability Insurance
• Employers’ Liability Insurance
• Product Liability Insurance
• Commercial Legal Expenses
Why do I need Combined Liability insurance?
Public Liability Insurance and Employers’ Liability Insurance are typically included in this type of policy. It can also include Product Liability Insurance for manufacturers and suppliers of goods.
Public Liability Insurance
This type of policy provides financial protection for legal fees and compensation claims should an individual, member of the public, or customer become injured on your business premises; for example, if someone slips or trips on an uneven floor caused by your negligence. Similarly, if their property is damaged because of your business operations, Public Liability Insurance acts as a safeguard against negative financial impact.
Employers’ Liability Insurance
This insurance coverage is a legal requirement in the UK. It is used to cover costs associated with legal fees and compensation claims made against you by an employee, should they suffer work-related sickness or injury.
Product Liability Insurance
Product Liability Insurance protects businesses from financial losses connected to claims arising from injury or damage caused by the products being built or supplied. This type of insurance is essential for manufacturers, wholesalers, retailers, and distributors, as defective products can lead to expensive legal fees. It covers legal fees, medical expenses, and costs associated with compensation claims as a result of design defects, manufacturing flaws, or inadequate warnings.
What does Combined Liability Insurance offer?
This coverage has a number of benefits including competitively priced policies, streamlined administrative process, and bespoke policies which fit your business.
Cost effective insurance
Instead of purchasing separate policies for different liabilities, businesses can bundle coverage into one plan, potentially reducing overall premiums. Some insurers provide discounts for combined policies, making it a more economical choice for various types of business.
Simpler administrative process
Managing multiple policies from different insurers can be time-consuming and complicated. With combined liability insurance, you have just one policy to manage, reducing paperwork, renewal dates, and policy admin. This can help reduce the risk of gaps in your cover and place all aspects of liability protection under one umbrella.
Tailored policy
Policies can be tailored to suit the specific needs of your business and business sector. The benefits of using a broker like us means as your company grows you can easily adjust your policy to accommodate increased risks, making sure you’re properly covered and not underinsured.
If you’re looking for a Combined Liability Insurance quote, get in touch with our team today. If you’d like to discuss the benefits and advantages of arranging Combined Liability insurance for your business, please contact us.
Our team of insurance experts can advise you on which policy would work best for your business.
What Makes Us Different?
You’re a part of our virtuous circle of giving. This means when you take out a Combined Liability Insurance policy with us, it enables us to give even more to our communities.
As part of the Benefact Group, we’ve given to local charities including Libraries Unlimited, Hands Up For Down’s, Musical memories Choir, and Foothold Cymru.
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