Simply Business Insurance: Affordable Protection for Small Companies

Running a small business takes hard work and dedication. While focusing on customers and growth is important, proper insurance protects your livelihood when unforeseen mishaps strike. Simply Business provides competitively priced commercial coverage tailored for sole traders and companies with 1-50 employees. In this guide, we’ll explore the key product offerings and benefits that make this affordable option worth consideration.

About Simply Business

Some background information on Simply Business includes:

  • Formed in 2002 and based in Cardiff, Wales to cater to small business insurance needs.
  • Offers policies throughout the UK for traders, retailers, charities, and various professional service firms.
  • Part of the Insurance Corporation Group plc, a listed insurer regulated by the Financial Conduct Authority.
  • Over 200,000 companies are currently insured, reducing risks through group purchasing power.
  • Specializes in clear plain-English policies without legal jargon that confuses many owners.

Targeting the underserved small commercial market, Simply Business prides itself on simple yet robust protection.

Commercial Combined Policy

Essentially a multiperil commercial package policy, the core Combined offering provides:

  • Property insurance covers buildings, fixtures, stock, and equipment against insured perils like fire, theft, and water damage.
  • Public & product liability up to £5 million limit per claim – essential for contractors, manufacturers, etc.
  • Employers’ liability up to £10 million for businesses with staff.
  • Business interruption or loss of income reimbursement if events disrupt operations temporarily.

Combined with optional extras, this multipuril approach insures virtually all commercial exposures for just £75 per month.

Additional Extra Covers

Beyond standard Combined coverage, profitable add-ons suit particular industries:

  • Professional indemnity protects trades, consultants, recruiters, and more up to £1 million.
  • Directors’ & officers’ liability protects sole directors’ personal assets from lawsuits or claims.
  • Cyber liability reimburses costs stemming from network security breaches or hacks crippling websites.
  • Goods in transit provide coverage if products are damaged while shipping between locations.

Custom packages ensure total business risk management tailored specifically to individual needs.

Legal & Tax Advice Helplines

Valuable advisory services supplement liability protection through included legal assistance:

  • Unlimited telephone access to qualified lawyers answering inquiries on regulations, contracts, debt recovery, and more.
  • Experts provide basic tax return preparation guidance and filing extension assistance.
  • HR and health & safety specialists help navigate employment laws and workplace issues over the phone.

These value-added services boost policy utility beyond pure insurance alone.

Claims Services

A streamlined claims process gets small firms back up promptly after covered incidents:

  • Notify Simply Business right away – no forms are required for basic claims under £1,000.
  • Damage assessments, repairs, and replacements are often handled directly and paid within days.
  • Continuity plans provide temporary premises, equipment, and staff to minimize business disruption.
  • Claims advisers manage the entire process from reporting through reimbursement completion.

Prompt attention helps avoid costly revenue lulls when property or liability claims arise.

Exclusive Extras

Simply Business clients gain added perks further enhancing value:

  • Free risk management helpline for advice reducing future losses like security tips or contract reviews.
  • Discounts on services including accounting software, IT support, fuel cards and more through preferred partners.
  • Funding options help cover cashflow gaps with insured losses, providing time to claim reimbursements.
  • Volume sourcing keeps coverage premiums competitive by grouping smaller risks.

These extras build loyalty by exceeding just basic protection needs.

Is Simply Business Right For You?

If evaluating options as a sole trader or small firm, consider Simply Business for:

  • Cost-effective combined policies from only £75/month.
  • Clear policies avoid legal jargon that confuses many owners.
  • Flexibility adding specialized covers like professional indemnity or cyber liability.
  • Included complimentary business support services boosting financial literacy.
  • Fast claims response mitigating impacts of insured losses on cash flow.

From convenient online quoting and paperless eco-friendly policies to multichannel support, Simply Business excels at accessibility at affordable rates. This makes them a clear top choice for protecting many smaller UK businesses.

Leave a Comment