Buying a single or packaged policy for your small business?
Businesses in any sector, from IT to retail tend to face a common set of risks, which may be covered under a single policy or under several policies where different elements of cover are bought from separate insurers.
There are several advantages to buying a packaged or combined policy:
- Avoidance of duplication and overlapping cover
- Ease of administration in respect of premium payments, renewal dates and claims through dealing with one insurer
- Economies of scale, reflected in lower premiums
Packaged policies can be tailored to the specific business or the sector it operates in. For example:
- Small Office insurance: Contents, computers, Business Interruption, Employers and Public Liability, Money and negotiables, portable equipment
- Home office: Employers and Public Liability, office contents and computers.
- Retailers, hair and beauty: Employers, Product and Public Liability; legal costs, stock cover, Money, Business Interruption
Other typical common risks packages are designed for builders and tradesmen; pubs, hotels, takeaways and restaurants; the motor trade; retailers and manufacturers.
Any exceptional risks can be covered by bolting on specialist cover from the same insurer, or by taking out an additional policy from a separate insurer.
Compare business insurance quotes with MCM Insurance
You can get quotes for Employers Liability insurance combined with Public Liability insurance now.
The MCM website has been designed to provide you with business insurance quotes in a matter of minutes. Just answer a few simple questions about your business and we can compare products from the UK’s leading business insurance companies to help you find the business insurance policy that’s right for you.
Furthermore, our service allows you to save all of your business insurance quote details in a secure account, so you need never enter them again. Get a range of insurance quotes for your small business now.
Keeping the costs of small business insurance down
Insurance is not an inconsiderable expense. While every effort should be made to keep costs down, the business should be wary of false economies. Apart from seeking best buys, savings can be made in the following ways:
- Maintain a good claims record by improving security. Some insurers may offer a no-claims discount.
- Do not insure risks that you do not face. For example, an accountancy practice doesn’t need Goods in Transit cover.
- Don’t under-insure. This is a genuine false economy because your claims will be scaled down proportionately.
- Decide how much of a loss your business is prepared to bear. The higher your excess, the lower the premium.
You can get business insurance quotes or buy any one of the policies MCM Insurance online provides now.
The MCM Insurance website has been designed to provide you with small business insurance quotes in a matter of minutes. Just answer a few simple questions about your business and we can compare products from the UK’s leading business insurance companies to help you find the business insurance policy that’s right for you.
Furthermore, our service allows you to save all of your business insurance quote details in a secure account, so you need never enter them again.