This blog will outline 6 key reasons why businesses of all sizes and sectors should consider a commercial package policy, also known as a commercial combined policy.
1). A premium which is usually lower than if all the covers were to be purchased separately
- This is a simple principle, if you keep all of your commercial insurance needs on one policy, you can often achieve a better overall price and make savings. This is why a commercial package policy offers great value cover.
2). Covers provided which usually include all that is required for the particular business or trade
- Another really important benefit is package policies allow brokers to build a bespoke policy for each and every business. This means you are often far more protected with a package policy than an off the shelf business insurance policy.
3). Simpler administration in terms of policy documentation and claims handling
- For smaller, bottom line businesses, simple administration is key. This does also benefit larger businesses, dealing with one policy saves time and hassle, freeing up staff hours.
4). Are simple to understand – all covers are contained in one policy, with one set of administration and claims arrangements (so there is only one proposal to complete, one policy document to retain etc.)
- Not only does having one package policy make insurance easier to administer, but it also makes it easier to review cover, consider alternatives and vitally, make a claim on the policy.
5). Lower premiums as a result of cover standardisation and lower administration costs
- In a similar way that a package policy saves money by combining levels of cover, which offers discounts, it also saves the broker and insurance company administrative time, which in return offers the end customer a lower price.
6). Only require one premium to be paid, with only one renewal date as well
- Having one payment schedule and one renewal date makes payments easier to manage and also allows you to quickly compare different policies and find the best cover when renewing. This is a huge benefit for businesses that are looking to get great value cover, or simply looking to find the best level of protection.
Get a commercial package policy quote
Simply complete our short form, add your renewal date and we will contact you 28 days before. This gives us the best opportunity to find you the best value policy on the market. Simply fill in our form below.
