Simply Business Insurance Coverage and Pricing Overview

Simply Business offers a range of insurance coverage options for small businesses, including liability, business equipment, and professional indemnity insurance.

Their coverage options are designed to protect businesses from various risks, such as accidents, theft, and professional mistakes.

With Simply Business, you can choose from a variety of policy limits, including £1 million, £2 million, and £5 million.

Policy prices vary depending on the type of business and the level of coverage chosen, with prices starting at around £100 per year.

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Simply Business offers a wide range of insurance options to protect your business. You can buy separate policies or package them together for added convenience.

The main types of insurance available include public liability, product liability, and employers' liability, which cover costs associated with injuries or property damage. Professional indemnity insurance covers the cost of negligent advice or services.

Here are some of the key insurance options:

You can also consider additional options like contract works insurance, buildings and contents insurance, and business interruption insurance to further protect your business.

Simply Business offers a wide range of insurance cover options, making it a one-stop shop for many business owners.

Public liability insurance is a must-have for businesses that interact with the public, as it covers compensation costs if someone is harmed or their property is damaged due to your business activities.

Product liability insurance is also a crucial cover, especially for businesses that design or supply products. It covers compensation and legal costs if a client claims against you.

Employers' liability insurance is a legal requirement for businesses with employees, and it pays compensation if they become ill, are injured, or die due to their work.

Professional indemnity insurance is essential for businesses that provide advice or services, as it covers the cost if you've provided negligent advice or services and a client makes a successful claim against you.

Here's a breakdown of the main types of insurance offered by Simply Business:

Additionally, Simply Business offers self-employed health insurance, which provides a choice of two healthcare plans for sole traders or small businesses with no employees.

Simply Business offers cover to an extensive range of professions and claims to cover 1,000 different types – more trades than anybody else.

You can buy packages for specific trades, such as arts and entertainment, engineering, architecture, beauty, cleaning, finance and legal, media, marketing and design, and tradesperson and construction.

The company also offers packages for self-employed insurance, contractor insurance, limited company insurance, online retailer insurance, consultant insurance, freelancer insurance, and sole trader insurance.

Shopping by industry might be convenient, but not all businesses in the same sector will need the same cover.

You can shop by profession with Simply Business, which groups some packages by profession to see the usual types of insurance applicable to your business.

Some professions, such as cleaners, may face risks like public liability for injury to others and equipment cover, and you can find a straightforward route to creating a package of cover and getting a quote to match.

Here are some examples of professions and trades that Simply Business caters for:

You can also find packages for self-employed insurance, contractor insurance, and other specific types of businesses.

To get coverage with Simply Business, you can start by getting a quote by phone or online. This will allow you to choose the cover you need and answer questions about your business, including your name and address, contact information, business structure, number of employees, policy start date, and the industry you are in.

You can then review the quotes you receive and apply for the one that suits you best, or compare the quotes with other providers. Quotes are valid for 30 days, or until the insurance starts.

Simply Business offers a range of insurance options, including general liability, professional liability, cyber insurance, workers' compensation, and inland marine. You can get a quote for these coverages online, but for more specialized options, you may need to call and speak with one of their agents.

Some packages are also grouped by profession, making it easier to see the typical types of insurance applicable to your business. For example, public liability insurance for injury to others and equipment cover for a cleaner.

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You can choose from 16 top providers, all of which have strong financial ratings from AM Best. This includes companies that specialize in higher-risk industries and those that offer specialty insurance.

Here are some of the key types of insurance you can get through Simply Business:

Pricing and costs can be a major concern for small business owners. Simply Business doesn't publish many figures on average costs for different policies and industries on its website.

The cost of insurance premiums can vary widely depending on several key indicators, including the size of the business, risk of the industry, number of employees, revenue, and claims history. This makes it difficult to estimate costs without getting quotes.

For a handyperson business, five quotes were received for general liability with a limit of $1 million per occurrence and $2 million aggregate. The monthly costs after the first two months' down payment were as follows:

The difference in annual costs between the lowest and highest providers is quite significant, with American Builders Insurance costing $2,607.84 annually and Markel costing $5,135.04 annually.

Pricing and costs can be a major concern for businesses, especially when it comes to insurance. The cost of insurance premiums can vary widely depending on several factors, including the size of the business, risk of the industry, number of employees, revenue, and claims history.

In the case of handyperson businesses, quotes from different providers can be quite different. For example, a general liability policy with a limit of $1 million per occurrence and $2 million aggregate can cost anywhere from $2,607.84 to $5,135.04 annually.

Using a broker can be beneficial in finding the best deal, as seen in the comparison of different providers. American Builders Insurance and Hiscox, for instance, offer the same level of coverage but at different prices.

Here's a breakdown of the costs for the five quotes received for a handyperson business:

The difference in cost between the cheapest and most expensive options is quite significant, with a difference of $2,527.20 annually.

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Saving money on insurance premiums is definitely possible, and one way to do it is by comparing prices from different insurers. Simply Business can offer quotes from multiple insurers, allowing you to compare prices and potentially pay less for the cover you need.

Paying annually rather than monthly can save you money, as you won't be charged interest on your payments. This can add up to significant savings over time.

Existing customers can also earn incentives, such as a £25 gift card, by setting up a reminder to buy cover or by recommending Simply Business to someone else and having them buy cover. These incentives are just a bonus, but they can be a nice perk.

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Simply Business makes it easy to get a policy that's tailored to your business's specific needs. They generate quotes from their carriers based on your industry and location.

To ensure you're getting the right policy, Simply Business has an extensive library of resources available on their website. This includes helpful articles on compliance and employer regulations.

You can also rely on Simply Business to guide you through the process of submitting necessary documentation and binding coverage.

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Simply Business has more than 800,000 customers, making it a legitimate company with a large and established customer base.

It's licensed to sell insurance nationwide, giving it the freedom to operate and provide insurance services to small businesses across the country.

Simply Business has been in business for over 15 years, a testament to its stability and reliability.

As a wholly owned subsidiary of The Travelers Companies, Inc., Simply Business has a strong backing and financial support, further solidifying its legitimacy.

Founded in 2005, Simply Business has a long history of providing insurance services to small businesses, with offices in Boston and London.

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Small business owners who are unsure about what type of coverage they need are best suited for Simply Business. This platform offers options from multiple carriers, allowing them to explore different possibilities.

Simply Business is also ideal for small businesses in traditional industries that require specialized coverage. They can rely on the platform to help find the right coverage for their specific needs.

Business owners who aren't already working with an insurance agent or whose needs or location have recently changed will find Simply Business to be a good fit. This can be especially helpful during times of uncertainty or transition.

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The process of getting a quote from Simply Business is straightforward and efficient. To start, you'll need to answer some basic questions about your business, such as industry type, location, and projected revenue.

These questions are designed to help Simply Business find the best quotes for your business. After answering, you'll be presented with quotes from its partners.

You can then adjust the coverage limits and deductibles to see how it affects the price. Simply Business will refresh the prices for you, making it easy to compare options. Options to make adjustments are positioned directly above the quote, making it easy to see how changes will impact the price.

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On-Demand Policy Modifications can be a bit tricky to navigate. Simply Business doesn't handle policy modifications itself, so business owners must work directly with their carrier.

The ability to make changes to a policy depends on the provider chosen, the type of policy purchased, and any recent changes to the business and industry. This means that different providers may have different rules and procedures for making policy modifications.

Business owners need to be aware of these differences and plan accordingly. They should research their provider's policies and procedures before making any changes to their policy.

Getting a quote from Simply Business is a straightforward process. You'll need to answer some basic questions about your business, such as the industry type, location, when it started, projected revenue, and number of employees.

These questions help Simply Business generate quotes from its partners that are tailored to your business's specific needs. The quotes will include key information, like the financial rating for the providers from AM Best.

You can adjust the coverage limits and deductibles, and Simply Business will refresh the prices accordingly. The options to make these adjustments are positioned directly above the quote.

After reviewing the quotes, you can purchase the policy online or call one of Simply Business's dedicated agents to do so over the phone.

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To choose the right business insurance, you need to consider the risks your business faces. You must have employers' liability insurance by law if you employ anyone in the UK who isn't family, or if you employ family and your business is incorporated as a limited company.

Professional indemnity insurance is required by their governing body or regulator for some professions, such as solicitors and accountants. You may also need to have public liability insurance to carry out certain work, including public sector contracts.

If you use a vehicle for work, you should consider business car or van insurance or commercial vehicle insurance. This is because you are required by law to have proper insurance if you drive any vehicle.

To compare quotes from different providers, look at the level of cover provided, as well as the price. You can also compare the quote details with other providers.

Here are some key factors to consider when choosing a business insurance provider:

To obtain a COI, you can get it online through your account, online through a request form, or over the phone. If you need a change to the policy, you'll have to call Simply Business.

If you have an urgent request, a COI can be created same day. However, if it's not urgent, it can take up to 24 hours to process the request, and that excludes weekends.

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Policy management can be a bit of a headache, especially when you're trying to make changes to your policy on the fly.

Simply Business doesn't handle policy modifications itself, so you'll need to work directly with your carrier to make any changes.

You'll need to consider the provider and policy type you've chosen, as well as any recent changes to your business and industry, before making any changes to your policy.

The ability to make on-demand policy modifications varies by provider and policy type, so be prepared to do some research to figure out what's possible with your specific policy.

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Simply Business has been a game-changer for many small business owners, offering a range of insurance products tailored to their specific needs.

With a wide range of insurance options, including public liability insurance and professional indemnity insurance, business owners can protect themselves against unforeseen events.

Their online platform is user-friendly and easy to navigate, making it simple for business owners to get a quote and purchase insurance in just a few clicks.

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In fact, Simply Business has a 4.5-star rating on Trustpilot, indicating a high level of customer satisfaction.

Their expert team is always on hand to provide guidance and support, helping business owners to make informed decisions about their insurance needs.

By choosing Simply Business, business owners can save time and money, while also getting the protection they need to grow and succeed.