Traders Combined Insurance
Who needs traders combined insurance?
The traders combined policy is suited to a wide range of businesses and organisations from manufacturers to wholesalers, warehousing and leisure. The policy is essentially the commercial insurance workhorse with the ability to respond to he needs of the majority of clients who need comprehensive commercial or business insurance policy. Many industries will benefit from their “own” traders combined wording however in reality this is the standard policy wording with a few adjustments made to offer industry specific cover.
What is covered by a traders combined insurance policy?
Whilst policies may vary from insurer to insurer the core covers of the traders combined insurance policy are common to all and are designed to be tailored to the individual needs of the client.
The policy provides cover in respect of;
Property and Material Damage Risks
Cover in respect of stock and business contents along with other capital items such as buildings and machinery and plant. This is the section of the policy that is designed to protect the policyholder against loss or damage to the physical assets of the business.
Business Interruption Insurance
Otherwise known as loss of profits or consequential loss insurance, the business interruption cover under the policy protects the policyholder against the ongoing financial losses incurred as a result of a reduction in turnover in the business following an insured material damage claim. more
Business Cash or Money
Cover to protect any cash or negotiables held within the business.
Public and Product Liability Insurance
Third party liability insurance for the business protecting against claims made against the policyholder in respect of their legal liability for personal injury or property damage arising during the course of the business or as the consequence of the sale or supply of a product.
Employers Liability Insurance
Cover for the policyholder in respect of claims made against them by employees for their legal liability for personal injury or property damage arising during the course of their employment.
Goods in Transit
Cover in respect of property damage or loss whilst in the course of transit.
Business All Risks
A broader cover for property than is provided under the standard property damage section, this can be used to protect against property losses on a worldwide basis.
Cover Options Under Traders Combined Policies
Whilst this provides an overview of the broad sections of cover that are available under the traders combined policy, there are generally no mandatory sections of cover and you are free to choose the covers than meet your own insurance requirements.
More recently the traders combined package has been simplified by some insurance companies and in fact a wide range of cover is built into the standard package and may not be removed. In general terms these policies actually offer better cover and lower premiums than the more traditional product.
It is worth noting that whilst the traders combined policy provides the scope of cover that is required for motor trade occupations in terms of non-motor insurances, the combined motor trade insurance product is in essence a traders combined policy with a tailored wording and more importantly the ability to include motor trade road risks insurance. more
How do I apply for traders combined insurance?
You can apply on-line, our quote service actually produces instant quotes for a wide range of businesses and organisations requiring traders combined insurance or your can call us direct to discuss your requirements with a specialist broker.