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Simply Business is not an insurance provider, but a broker that connects small business owners with business insurance through partner companies.
Simply Business Public Liability Insurance
While Simply Business does the initial work of providing quotes tailored to your type of business from its network of insurance providers, that’s where its services end. The underwriting, claims and customer service portions of your policy are handled by third-party underwriters.
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Simply Business is based in the UK and owned by travellers. It is the second largest underwriter of commercial insurance lines in the United States. While Simply Business offers a wide range of coverage in the UK, the options for US-based businesses are more limited.
Simply Business also offers inland marine insurance which it bills as ‘tool and equipment insurance’. Other types of cover, including motor and property business cover, may be available through Simply Business partner providers, but you will need to contact the source directly to obtain this cover.
Answer a few questions and we’ll match you with an insurance partner to help you get a quote.
Simply Business offers general liability insurance through several partner providers. This coverage is recommended for almost all business owners as it protects against third party claims for bodily injury and property damage.
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Public liability insurance also kicks in if your business is accused of defamation, libel or copyright infringement. It does not cover damage to your property or injuries to your employees, which are covered by business property and workers’ compensation insurance, respectively.
Professional indemnity insurance, also known as errors and omissions insurance, is available through Simply Business’ network of insurance partners.
If your business is sued for negligence, error or delay, professional liability coverage will pay legal fees and damages. This type of coverage is recommended for businesses that provide consulting or paid services such as accountants, architects, consultants, engineers and financial advisors.
Depending on the type of business you run, Simply Business recommends adding an errors and omissions endorsement to your general liability policy rather than purchasing full professional liability coverage.
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Simply Business connects business owners with customized pricing and coverage based on their type of business. You can by providing basic business details including:
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Kelsey Sheehy is a senior writer and small business owner. He has appeared on the Today and NBC News programs, and his work has appeared in The New York Times, The Washington Post, Nasdaq and Market Watch, among other publications. Read more
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Why Is Business Insurance So Expensive?
Simply Business is an online insurance broker that connects small businesses with over 15 leading business insurance companies. It focuses on businesses with five or fewer employees, including startups.
It is licensed to offer insurance in all 50 states and gives you access to your policy documents after you purchase a policy. It is one of the only online brokers that allows you to get a quote, customize price coverages and then purchase the policy completely online without having to speak to anyone.
Simply Business offers most of the basic policies a business needs. Online, you can continuously for:
Outside of these coverages, online options become more limited. However, you can contact a Simply Business representative to discuss further coverage options.
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Simply Business works with 16 top suppliers. Their financial ratings range from AM Best to A- (Excellent) to A++ (Excellent), so all providers are in a strong financial position.
Some of the above companies cooperate with higher risk industries and some are specialized insurers. This means a wide range of industries can get quotes and find insurance through Simply Business.
The process of getting a quote, comparing prices and purchasing a policy is where Simply Business stands out from other brokers. To get a quote, be prepared to answer a few basic questions about your business. Once you’ve done this, Simply Business will provide you with quotes from some of our partners.
Often, after creating a quote, you can set coverage limits and deductibles. Then it updates the prices.
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Simply Business provides background information for each supplier that returns a quote, including the supplier’s AM Best financial rating. Once you’ve decided which coverage and price is best for you, you can purchase the policy online or call one of its dedicated agents over the phone to do so.
Simply Business does not publish many figures on the average cost of different policies and sections on its website. Note that premium costs typically range widely depending on business size, industry risk, number of employees, revenue and claims history, just to name a few key criteria.
We received five professional business quotes for this Simply Business insurance review. All were for general liability with limits of $1 million per occurrence and $2 million in the aggregate. Some providers, such as Hiscox, had additional coverage available for tools and equipment.
You can see the benefits of using a broker as all providers offer the same level of coverage. However, if you decide to go with American Manufacturers insurance, you’ll pay $2,607.84 per year versus $5,135.04 per year with Markle, a difference of $2,527.20.
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Those who have reviewed Simply Business Insurance seem to have been very satisfied with the provider and their service, as many customers have left very positive reviews. One reviewer said they had trouble getting insurance, but Simply Business did their job and got them covered.
Another recent review highlighted the provider’s key benefits: fast and easy. The user stated that they received three quotes with full details and had no contact with the representatives. They were happy to get insured so quickly because they could focus on growing their business. Other customers have left comments such as “Excellent” or “Easy to use, quick response and competitive price”.
After purchasing your policy, you will have access to an account that you can manage. Your options include adding an additional policy, receiving policy documents, payment options, and requesting a COI. If you need to make specific changes to your policy cover, such as limits, you should contact Simply Business. Its working hours are from Monday to Friday, 8 am to 8 pm. eastern time
Helpfully, it has a policy designed for Amazon sellers and a separate creation process for Amazon-specific COIs. All of the above information is available online at its Help Center.
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The claims process is the weakest area of customer service. If you need to make a claim, you will be directed to your policy documents and then contact the provider directly. However, if you can’t find that information, you can contact Simply Business for help. Publishes all contact details of the complaints department for the operators with whom it cooperates.
Yes, Simply Business is a legitimate company with over 800,000 customers. It is an online broker that offers insurance, particularly general liability and workers’ compensation, to small businesses. Has a license to sell insurance all over the country and has more than 15 years of experience.
It is open Monday through Friday from 8:00 a.m. to 8:00 p.m. ET if you need to speak with someone at his phone number, (855) 869-5183.
You must submit a claim directly to the insurance provider, not to Simply Business. If you are unsure, you can contact Simply Business by email or phone and they will help you find the contact details. Helpfully, under the ‘Claims’ tab on its website, it lists the contact details of all the carriers it works with.
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There are three ways to get a COI from Simply Business: online through your account, online through an application form, or over the phone. If the COI requires a policy change, you should contact Simply Business. If a request is urgent, it can be made the same day, but if it is not urgent, it may take up to 24 hours to process the request, and this does not include weekends.
Yes, you can. For many businesses that offer online quotes, you can buy a policy online without having to speak to anyone.
Simply Business is an online insurance broker for small businesses. The company specializes in small businesses with five employees or less. It is outstanding