Learn what business insurance is and why it's essential for protecting your company. Get the details on coverage options and benefits. Read more to safeguard your business.
simply business insurance reviews
Simply Business is a broker who works with partner firms to help small business owners find business insurance; it is not an insurance provider.
Simply Business provides rates from its network of insurance providers suited to your business type, but that's where its services end. It handles the preliminary legwork. Third-party insurers manage the underwriting, claims, and customer support aspects of your insurance.
Travelers, the second-biggest provider of business insurance lines in the United States, is the owner of Simply Business, which has its headquarters in the United Kingdom. In the U.K., Simply Business provides extensive coverage; however, its options are more constrained for enterprises located in the United States.
Pros
Get rates online from several insurance companies.
A resource library detailing the coverage requirements for various business kinds.
Cons:
Every business insurance policy is obtained via a third party.
not able to submit a claim using Simply Business.
Mostly restricted to professional and general liability coverage.
Types of coverage offered by Simply Business Insurance
Simply Business provides a range of coverage options in partnership with various insurance providers.
General liability coverage.
Ensuring accountability and responsibility.
Simply Business also provides inland marine insurance, which they describe as "tools and equipment insurance." Additional coverage options, such as commercial auto and property coverage, may be offered by Simply Business' partner providers. To obtain these types of coverage, it is necessary to contact the providers directly.
Liability coverage in general
General liability insurance is provided by Simply Business through a few partner companies. Almost all business owners are advised to have this coverage since it defends against third-party claims of property damage and bodily injury.
Additionally, if your company is accused of libel, defamation, or copyright infringement, general liability insurance kicks in. It does not cover accidents to your employees or damage to your property; both are covered by workers' compensation and commercial property insurance, respectively.
Insurance for professional liability
Through the network of insurance partners of Simply Business, professional liability insurance, commonly referred to as errors and omissions insurance, is offered.
Professional liability insurance will cover the costs of legal defense and damages if your company is sued for carelessness, errors, or delays. It is advised that companies offering advice or services for a charge, like accountants, architects, consultants, engineers, and financial advisors, obtain this kind of coverage.
Depending on the nature of your company, Simply Business may be able to add an errors and omissions endorsement to your general liability policy at a lower cost than full-fledged professional liability coverage.
Get business insurance rates from Simply Business.
Based on the kind of business they operate, Simply Business provides business owners with customized estimates and coverage. By entering important business information, such as the following, you can quickly obtain various business insurance estimates online:
Legal structure and type of business.
The location of the business and its duration.
We estimated payroll and revenue per year.
All products are underwritten and managed by independent insurance firms, even though Simply Business provides rates.
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