What is Simply Business?
Simply Business UK is a well-established business insurance company that has worked with over 3 million clients, from small businesses to entrepreneurs, to aid them in acquiring cover for their company and providing a safety net for when accidents inevitably arise.
Jason Stockwood, the company vice chairman, has dedicated his time to making the insurance application process faster and easier for customers, with incentives like developing the website to be more straightforward to navigate and improving customer service for queries to be resolved more efficiently with higher satisfaction. Once you have decided which insurance covers your business needs, Simply Business will compare quotes from over 10 of the best insurance companies and discuss the best fit.
If you would like to read more information or learn more about the pricing of business insurance, you can do so here.
Simply Business for Business Insurance
Only one mandatory insurance in the UK is a legal requirement since the Compulsory Act in 1969, Employers’ Liability Insurance. Essentially, this is a cover against employee claims towards the director that they were harmed or injured by the workplace and is required for any employee business. For example, if a worker slipped on a wet floor and decided to sue the company, the insurance company would pay both the legal fees and the worker’s medical bills.
Simply Business customers could obtain this insurance for only £5.52 monthly once they apply. The application process is simple, with five quick stages; all you have to provide is business details, employee details, business-related questions, cover options and agreements.
Public Liability Insurance is optional but very valuable for businesses that sell products. If a customer purchases an item from you that harms them or causes them illness, you can be held legally responsible for the injury and have a lawsuit filed against you.
However, if you possess this insurance, any claims against you would have the legal fees paid for by the insurance company. Depending on what products you manufacture and sell, you should consider different severities of cover, as those that are more dangerous may require a more demanding and expensive policy.
Nevertheless, Simply Business will compare different packages and deals from different companies so that you can pick from the best quotes. Insurance can start from only £6.77 monthly, but more comprehensive covers should be considered if this policy will significantly affect you.
Different Types of Insurance Offered by Simply Business UK
1. Public Liability Insurance
Public Liability Insurance is similar and provides safety from claims that a service provided by your employees at the client’s property has harmed them. For instance, if a painter decorates a home and accidentally spills paint over the customer’s computer, thus damaging it and rendering it useless, this insurance type can protect them from the vast expenses paid to fight this lawsuit.
Likewise, this policy covers medical bills, product replacement or compensations and reimbursements for the client. As a result, Simply Business encourages businesses that provide contracting and carer services that visit their customers’ homes often to apply for this. Their partners provide levels of cover from £1 million to £10 million depending on safeguarding the business needs, as more prominent companies with more employees or companies that provide many at-home services may wish to choose a more complex policy.
2. Business Building Insurance
Business Building Insurance applies to the majority of businesses that work in any structure, from an office to a shop. Even if your business operates from more than one building, this will be covered in the same policy. You should insure the building based on the money it would take to rebuild it if disaster strikes, like fires or floods, both natural or accidental. If your building is destroyed, the policy will pay out the costs to rebuild it.
Likewise, Simply Business advises companies to consider Business Contents Insurance, which will protect your equipment and belongings inside the building, not just the structure and fixtures. This includes items like devices and furniture, which could be helpful if your company works with a lot of expensive equipment.
3. Professional Indemnity Insurance
Simply Business can also compare Professional Indemnity Insurances between insurers, often advised to businesses that provide services where the quality is subjective. Customers can frequently complain about the work being done. If an employee offers a service or advice to a client that causes the client to suffer financially, this type of insurance will cover the employee’s legal fees should they be sued.
Suppose you are a company that frequently provides advice, stores confidential client data, or very often works closely with customers. In that case, Simply Business can offer covers from £50,000 to £5 million depending on the level of coverage necessary.
4. Landlord Insurance
Lastly, a range of insurances is available for landlords, which need more specific covers. Simply Business works with over 315,000 landlords that used their services to compare quotes and find the best insurers tailored to them. Landlord Content Insurance is a popular policy used by landlords, which protects furniture and household appliances against destruction or theft. Similarly, Accidental Damage Insurance pays for the repair costs of belongings if they were to be destroyed or damaged by an unintentional crisis.
This includes a wide range of accidents, from spilling drinks on carpets to falling through the second floor of the building. Simply Business understands the problems that landlords encounter, and a unique type of insurance they offer is Unoccupied Property Insurance, which is usually hard to obtain for over a month. When no one lives in a property, studies show that theft rates increase, and some cover should be acquired to protect the property of this, which is why this policy covers loss or damage to the property when it is not being lived in.
Simply Business UK: Online Insurance
What is Simply Business? An online insurance broker. In fact, they cover more than 1,000 different types of trade. They are an accredited B Corp and have won a Sunday Times Best Company to Work For award twice. Read on to discover more about Simply Business and what it has to offer. There are many ways to get cover for your business. Here’s how. Listed below are just a few of them:
Founded in 2005, Simply Business is an online insurance broker that provides tailor-made insurance policies to small and medium-sized businesses. They cover more than 300,000 companies in the UK and over 1,000 trades. This fast-growing company has received numerous accolades. In addition to being listed in the Sunday Times Tech Track 100, Simply Business has also been named to the Deloitte Technology Fast 500 EMEA. It has grown very quickly and is now one of the largest business insurance providers in the UK.
Interested in obtaining an insurance policy for your business? Simply Business is a great choice. All it takes to get started is a brief online form, where you’ll be asked for information about your business. Then, an agent will guide you through the process until you’re satisfied. After receiving a quote, you can either apply for it immediately or opt for an email reminder. However, if you’d prefer to discuss your insurance needs with a live agent, this may not be the best option for you.
The company’s salespeople will engage in commercial conversations with potential customers, driving them through negotiations and closure. They will leverage key customer relationships to generate revenue and educate prospective partners on SB’s capabilities. The sales team will create a strategy to maximize revenue potential through partnerships, and will collaborate with internal Simply Business teams to educate potential partners on how SB can help them. These efforts will ultimately help SB earn the respect of its customers and become an important part of their business.
Simply Business UK: General Liability Insurance
Simply Business Insurance can help your company protect itself from lawsuits brought by third parties for property damage, personal injury, or reputational damage. The insurance can cover legal defense costs and settlement amounts should your business be sued. For example, if you are a small business that drops off a shipment, this insurance can protect you against any claims made against your company. This type of insurance is available through a number of insurance carriers, including Simply Business.
Though Simply Business offers limited insurance policies, their comprehensive blog provides information on various topics ranging from getting a business license to estimating projects. It also provides assistance with filing claims if you need it. However, the website is not mobile friendly. You can also call customer support to receive help in filing a claim. You may want to consider another provider if you are unsure about the right policy for your business. This insurance company will be able to walk you through the process, so be prepared.
Even though many businesses face financial hardship due to insurance claims, Simply Business makes the process of finding the right policy simple and affordable. All you need is a few pieces of basic information about your business, and the company will do the rest. In addition to general liability insurance, Simply Business also offers professional liability insurance, or errors and omissions insurance, through its network of insurers. So, you don’t have to spend hours searching for the right insurance coverage for your company.
Simply Business UK: Professional Indemnity Insurance
If you work in certain professions and need to pay extra for your insurance, you should look into the professional indemnity cover provided by Simply Business. This insurance is widely available and covers over a thousand jobs. It includes public liability and employers’ liability cover, as well as cover for professional negligence claims. If you have a profession, however, and are considering taking out this cover, browse through the options and get a quote.
If you’re in a profession where you’re likely to receive claims, it’s essential to have adequate insurance. Professional indemnity insurance will protect you from legal costs if you are found negligent or give incorrect advice to a client. It also protects you from compensation claims. Many government departments and large companies require certain occupations to carry this type of insurance. The best insurance for your profession is tailored to your requirements and budget.
Professional indemnity insurance is not compulsory under the law but is essential for certain types of businesses. It covers businesses that provide knowledge or skills and handle sensitive data. It’s also popular with businesses providing professional services. Self-employed people and companies performing certain types of work, such as marketing and PR consultancies, design companies, and web agencies, may require this type of insurance. You should also check your state’s regulatory requirements.
Simply Business UK: Landlord Insurance
If your business lease stipulates that the building you rent out must be insured against property damage, you can ask your insurer to insure the property. In addition, landlord insurance provides coverage against unexpected and accidental damage to the rental property. The insurance also pays for repairs and lost rental income while the property is being rebuilt. However, you must write a lease agreement and make sure your tenants follow it.
While landlord insurance is not required by law, many mortgage providers insist that you have it, and it can give you added peace of mind. The average cost of landlord insurance varies, depending on the type of property, the amount of coverage, and the insurer you choose. You can purchase landlord insurance to cover accidental damage, loss of rent, and legal costs. Taking out landlord insurance is a great investment, and it will protect you in the event of any disaster.
You should consider purchasing separate flood insurance if a flood damages your property. Flood insurance is not included in standard commercial property insurance policies, and landlords in a flood zone should purchase separate flood insurance. Flood insurance is a vital part of a landlord’s insurance plan. A flood is generally defined as water coming in from outside. However, it can also include water that backs up or is caused by a natural disaster.
Simply Business is the UK’s most prominent business insurance broker, covering over 500,000 companies. Founded in 2005, the company has over 500 staff working in three offices. The company became a B-Corp in 2017 in recognition of its policies’ positive impact on people, society, and the environment. Simply Business aims to do as much good as possible while serving its customers. With an emphasis on customer service and flexibility, it is no surprise that this business has over 840,000 customers.
The landlord insurance offered by Simply Business provides comprehensive cover for rental properties. It will not leave you underinsured and will cover both the property’s physical structure and permanent fixtures. It also protects you from having to pay out compensation for injuries or damages caused by tenants’ possessions. Furthermore, it will also cover the loss of rent due to an incident. If the tenant fails to pay the rent on time, the insurance will pay out the rent.
Simply Business UK: 24/7 Claims Line
The claim process at Simply Business is award-winning and streamlined. The company uses a team of claims experts from Cunnigham Lindsey, which has a reputation for delivering high-quality service at competitive rates. The claims process is fast and efficient and only requires the essential information. Cunnigham Lindsey is one of the top claims handlers in the UK, with a 4.6 out of 5 rating on Feefo. The claims process is straightforward and transparent, and the company has a 24-hour claims line.
Simply Business is a leading online insurance broker that specialises in small-to-medium-sized businesses. It offers a range of policies to suit a wide range of businesses. You can obtain a quote online or over the phone, and it will help you decide what type of policy is best for your business. Simply Business is regulated by the Financial Conduct Authority.
Simply Business UK: To conclude
Overall, Simply Business has been operating since 2005 to provide small and large businesses with the covers they need to protect them from disasters, working with many insurers so that they can search with a better range of quotes. They have attained several impressive awards and work with countless charities, proving that they are reliable and genuinely care about their customers. You can visit their website to obtain quotes from them or, if you are looking for alternatives, use our comparison form here.
Simply Business UK – Other useful links from our knowledge centre:
What is Retained Profit in Business?
What is the Difference Between a Debtor and Collector?
What is Trading in Business?
Remember to Compare Your Business Costs is here to help your business every step of the way from business advice, or saving you time and money on your business purchases such as:
Ally Cox is a dedicated Copywriter and Blogger for CompareYourBusinessCosts.co.uk. In under two years, the platform achieved the esteemed accolade of ‘Website of the Year’. Since its award-winning debut, Ally has been instrumental in fostering organic growth for the website, expanding its offerings to encompass comparisons across a diverse range of over 20 products to help serve all your business needs.