The UK is a country that is a little different from the US in how their insurance companies manage their businesses. In the UK any business who works with the mechanics or body of a car or truck has to carry a motor trade insurance policy. Otherwise, the individual and commercial insurance groups work similarly in many ways in both of our countries.

The bottom line payout is much larger for your businesses and commercial insurance needs to pay out for a lot more expensive equipment for your company than foryour individual needs. Your individual and commercial insurance will not work together. The commercial insurance you carry for your business for instance will not cover your home owner’s insurance guarantee of title for example.

The insurancecompany for your individual insurance will not let you add your home owners title on your trailer to your business unless it is going to be titled under you business. You can insure your home on a different policy and commercial insurance with another policy with the same insurer, but not together at all.

The idea of getting it all together is a fantasy. Usually the company you get to insure your home or car for your individual needs will not carry the kinds of insurance a person would need for your businesses and commercial insurance will need to be obtained with an entirely different company all together.

This is not always a bad thing. We have come to understand here in the United States when one bank fails it can be a domino effect. Unfortunately, when the banks who insure our property do fail, although it is something that happens rarely, it still does happen and commercial insurance is responsible for many of our other types of insurance as well. Insurance that insures our retirement plans through our employers and many other things we don’t have to handle from day to day but when we need it depend on it being there. In other words, it really would be better to not have everything under the same umbrella of companies who could fail and leave you totally uncovered in all areas of your life.

The economy is writhing back from time to time and we all hope the chaos of the past few months is behind us. We have learned a powerful lesson in the States. Don't put all your eggs in the same basket. If something starts’ stinking it’s unfortunate if they are all together and go in the bin at once. (smile)