Simply Business is not an insurance provider but a broker that small business owners work with Business insurance through partner companies.
While Simply Business does the initial work, it creates offers that are tailored to your type of business Network of insurance providers, this is where his services stop. The core of your policy – underwriting, claims handling and customer service – is handled by third party insurers.
Simply Business is based in the UK and is owned by traveler – the second largest corporate insurance provider in the US While Simply Business in the UK offers a wide range of insurance benefits, options are more limited for US based companies.
Simply business insurance: advantages and disadvantages
Get quotes from multiple insurance providers through one website.
All corporate insurances are taken out by third parties.
Resource library that outlines coverage needs for different types of businesses.
A complaint cannot be submitted through Simply Business.
Insurance coverage is mainly limited to general liability and professional liability.
Simply Business insurance: types of insurance
Simply Business offers the following coverage options through its partner insurers:
Simply Business also offers Inland waterway insurancewhich it refers to as “Tools and Equipment Insurance”. Other types of coverage including commercial car and Real estate coverage, may be available through Simply Business partner providers, but you must go to the source directly to get this coverage.
General liability insurance
Simply Business offers liability insurance through a handful of partner providers. This cover is recommended to virtually all business owners as it protects against third party claims for personal injury and property damage.
The public liability insurance also applies if your company is accused of defamation, defamation or copyright infringement. The insurance does not cover damage to your own property or injuries to your employees that are covered by commercial property insurance or workers’ compensation insurance.
Professional Liability Insurance
Professional Liability Insurance, also known as Failure and omission insurance, is available through the Simply Business insurance partner network.
If your company is sued for negligence, errors, or delays, professional indemnity insurance will cover legal fees and damages. This type of coverage is recommended for companies that provide advice or services for a fee, such as accountants, architects, consultants, engineers, and financial advisors.
Simply Business offers the option of adding a note for errors and omissions to your general liability insurance rather than taking out full professional liability insurance, depending on the nature of your business.
Business insurance offers through Simply Business
Simply Business connects business owners with bespoke offers and coverage based on their business type. You can get multiple business insurance quotes online in minutes by providing key business details including:
Type of business and legal form.
Business location and longstanding business activity.
Annual estimated sales and payroll.
While Simply Business offers offerings, all policies are signed and managed by third party insurance companies.