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A COMPLETE INSURANCE PACKAGE FOR PRECISION ENGINEERING BUSINESSES
Why Choose a Combined Package?
Precision engineering businesses rarely need just one type of insurance. You might need Products Liability to satisfy OEM contracts, Employers’ Liability for staff, and property cover for high-value machinery and tooling. Add business interruption, goods in transit, and cyber risks — and separate policies can become costly and difficult to manage.
A combined precision engineering insurance package brings key covers together under one policy structure, often simplifying administration, reducing gaps between covers, and aligning policy terms to your real-world operations.
What’s Typically Included in a Combined Package
A combined policy can be tailored to your business, but most precision engineering packages bring together these core sections. You can add or remove covers depending on your contracts and the way you trade.
- Employers’ Liability – protection for employee injury/illness claims (often legally required).
- Public Liability – third-party injury or property damage arising from your operations.
- Products Liability – essential where parts/components are supplied into assemblies or OEM supply chains.
- Property (Buildings/Contents) – your premises, fixtures, fittings and business contents.
- Stock & Materials – raw materials, WIP and finished components (including high-value metals).
- Business Interruption – protects gross profit and ongoing costs after an insured loss.
- Theft & Malicious Damage – particularly relevant for tools, copper/stainless and finished goods.
- Optional: Goods in Transit – parts and assemblies while in transit.
Common Precision Engineering Add-Ons
Precision manufacturers often have specialist exposures that need additional sections. These are common extensions we see in combined packages, especially for high-spec and OEM supply businesses.
- Machinery Breakdown – sudden mechanical/electrical failure of CNC machines and critical equipment.
- Tooling & Engineering Equipment – cover for high-value tools, fixtures, jigs, dies, gauges and probes.
- Electronic Equipment – CNC controls, servers, CAD/CAM workstations and specialist metrology equipment.
- Professional Indemnity – recommended if you design, advise, prototype or modify specifications/drawings.
- Cyber & Data – ransomware disruption, CAD/CAM file compromise and invoice fraud protection.
- Increased Cost of Working – overtime, outsourcing, temporary equipment hire and expedited deliveries after loss.
- Contract Works – if you install/commission assemblies or systems at client sites.
- Management Liability (D&O) – protects directors and officers against management-related claims.
Benefits of a Combined Precision Engineering Policy
Many manufacturing businesses move to combined cover because it’s simpler to administer and easier to align with their contracts. It can also reduce gaps that can occur between separate policies.
- One renewal date – less admin, one programme to manage.
- Better alignment – liability, property and BI sections structured to work together.
- Clearer documentation – easier to provide evidence for customers and audits.
- Tailored for your process – underwriters can price your full risk profile.
- Scales as you grow – add locations, machinery, turnover and covers as contracts expand.
- Claims coordination – one insurer programme can streamline claims handling.
Moving to a combined package made our insurance much easier to manage. We covered liabilities, machinery and business interruption in one place and could evidence cover quickly for OEM customers.
Director, Precision Engineering Manufacturer (UK)GET THE RIGHT PACKAGE
- Combined liability + property + BI programmes that match your contracts
- Options to include machinery breakdown, tooling and specialist equipment
- Support with risk presentation to improve underwriting outcomes
- Clear documentation for customer onboarding and audits
- Flexible options as your turnover, sites and machinery values change
What We Need to Quote (Combined Package)
The fastest way to a strong combined package is a clear summary of what you do, what you own, and what your customers require. If you have this ready, underwriters can respond faster and more accurately.
- Turnover split by activity and key customer types (OEM / contract / export)
- Employee numbers and payroll estimate
- Premises details, construction, neighbours, fire and security protections
- Buildings/contents sums insured (and stock/materials peak values)
- Machinery schedule (replacement values) and any critical machine dependencies
- Tooling / metrology equipment totals
- Business interruption level and desired indemnity period
- Claims history and risk improvements made
- Any contract insurance requirements (limits, endorsements)
FREQUENTLY ASKED QUESTIONS
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What is a combined precision engineering insurance package?
It’s a packaged insurance programme that can include Employers’ Liability, Public & Products Liability, property cover (buildings/contents/stock),
business interruption, and optional sections such as machinery breakdown, tools, goods in transit, cyber and professional indemnity — structured together under one policy.
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Is a combined policy cheaper than separate policies?
It can be. Packaging may reduce duplication and simplify administration, but the main benefit is often improved alignment and fewer gaps between covers. The final cost depends on your risk profile, assets, processes and required limits.
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Can a combined package include machinery breakdown and tooling?
Yes. Machinery breakdown can be added for sudden mechanical/electrical failure, and tooling/metrology equipment can be included where appropriate (subject to underwriting and valuation). These sections are common for precision engineering firms with high reliance on key machinery.
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Will a combined policy satisfy OEM contract requirements?
Often yes, provided limits and relevant endorsements match your contract clauses. We’ll review typical OEM requirements (liability limits, evidence wording, and special terms) and structure the package to align where possible.
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How quickly can a combined precision engineering package be arranged?
Timing depends on complexity, values and contract requirements. Many packages can be quoted quickly, but higher-value machinery, multiple sites or OEM contractual terms may require underwriter review. Call us on 0330 127 2333 for the fastest route.
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What information do you need to quote a combined package?
Typically: turnover split by activity/customer type, employee numbers and payroll, premises details (construction, fire/security), sums insured for buildings/contents/stock, a machinery schedule, business interruption level and desired indemnity period, and any contract insurance requirements.