Combined Insurance Policies: What are they and why should you consider one?

Ensuring you have good insurance coverage is an essential part of owning and running a successful business. Being able to be 100% sure that you are protected against potential risks and threats can bring great peace of mind and allows you to focus on your business and its operations.

With a variety of different policy options, it can be difficult to determine what insurance policy to choose for your business. In this article, we will discuss Combined Insurance Policies and the benefits it has for businesses.

What is a combined insurance policy?

As a business, you can be exposed to a variety of risks that can impact you and without some type of insurance coverage, no business is immune. Whether you are a small or large organisation, you may face many threats and must have yourself well-prepared for the possibility of such a threat.

Below outlines some of the key benefits of choosing a Combined Insurance policy for your business.

What are the benefits of a combined policy?

1. Less hassle

Combined Insurance Policies are a great way of reducing time and monetary costs but additionally, provide you with one less thing to worry about when running a business.

By choosing a Combined Insurance Policy, you can be assured you are getting the best cover for your business at all times, reducing any doubt about risks to the business. You can simply take out the insurance and return to focusing on the day-to-day operations of your business.

Additionally, with Combined Insurance Policies, you can often make one payment per year, meaning you can avoid numerous emails and phone calls about renewing.

2. Saves money

Another great benefit to choosing a Combined Insurance Policy is the opportunity for discounts and savings.

Many insurance providers will provide you with discounts or additional benefits when you choose combined insurance policies versus when you choose to buy each insurance policy separetely. Therefore, you can have the most comprehensive and inclusive policy for your business whilst also saving money.

3. Greater cover

As a business, there can often be a wide range of insurance coverage you need and you may think that you need to go looking for multiple different insurance packages for each. However, this is where Combined Insurance Policies are a great advantage.

Insurance providers often collate multiple different types of insurance together into one package meaning, by paying for this fully comprehensive and combined package, you are paying for an insurance package that covers multiple areas of your business.

4. The Convenience of a Single Provider

Choosing a Combined Insurance Policy also comes with the benefit of the convenience of a single-source provider.

Not only do you reduce the hassle of multiple payments throughout the year, but you also have one easy point of contact in the event of a threat to your business and the advantage of reducing the number of forms and claims to be submitted as a result of the event.

How to take out a combined policy?

Taking out a Combined Insurance Policy doesn’t have to be difficult. You can shop around yourself as the business owner or you may opt for the convenience of an insurance broker which has great benefits, which you can read about here.

At MDRB, we are committed to providing your business with the best policies at the best prices and will help your business to find the perfect insurance fit for you. Contact us here to talk to us today about Combined Insurance Policies or your alternative insurance needs.

To stay informed of all the latest updates, follow us on LinkedIn and Facebook.