Commercial insurance comes in many different forms, several of which you will probably need for your company. The good news is that you can simplify your administration and save money with a combined policy.

If you are thinking about starting a new business then you may be bewildered by the range of commercial insurance you need to make it happen. Some types of cover are mandatory, and there are stiff penalties if you are found without. Others may be required by any professional bodies of which you are a member.

Some will be expected by investors before they put money into your business, others by clients as a condition of giving you a contract. Some are simply good common sense. Others still will be unnecessary or irrelevant to your company.

Judging your cover right

In short, the world of commercial insurance can be complex and, consequently, expensive. In each case you need to decide whether or not you need a policy, and then to work out how much your cover should be. Paying too much – either for policies you don’t need, or because your cover is unnecessarily high – can add up.

But equally, if your premiums aren’t high enough, you may not be protected from the full financial impact of a claim. This can prove disastrous to a small business. Even if the claim is not upheld and damages are not awarded, legal costs can be substantial.

Simplifying your insurance

One way of simplifying the maze of options is to look for a combined commercial insurance policy. This pulls together a list of different forms of cover under one umbrella policy. This has a number of benefits.

For starters, it means you only have to track and maintain one policy, rather than perhaps ten or a dozen in the worst cases. You can create a package that suits the unique needs of your business. It should also be cheaper, since you are able to access choices that you wouldn’t usually be able to with a series of independent policies.

Economies of scale

The reason that this is possible is because such combined policies have a much wider appeal to businesses than single policies. You will typically be presented with a list of policies – which might include everything from buildings and vehicle insurance to professional indemnity, employers’ liability and errors and omissions insurance. You then select which are appropriate, and the level of cover you need – making a bespoke combined policy.

The flexibility that this approach brings means that combined commercial insurance attracts a broad range of policyholders, which in turn means that economies of scale can be accessed which might otherwise not be available. Forms of insurance that might have only been of interest to niche companies can be added to more popular cover. Thus by bundling everything together, you not only simplify your premiums and paperwork, you can also save money because more expensive policies start to become more competitively priced.


Combined commercial insurance cover offers a number of benefits, especially to small businesses. The single-policy approach means you are able to bring all your insurance together under the same policy with the same provider, thereby reducing the complexity and scale of the task of keeping on top of your insurance. Not only that, but you should also save money in the process.

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