Running a business comes with risks, but business insurance can help protect you from financial losses. Whether you’re a small business owner, freelancer, contractor, or self-employed professional, having the right insurance coverage is crucial. But finding the right policy at an affordable price can be confusing. That’s where Simply Business Insurance comes in.
Simply Business is an online insurance provider that helps businesses compare and buy insurance quickly and easily. They offer customized insurance quotes in just a few minutes, allowing you to find the best coverage at the best price.
In this guide, we’ll cover:
✅ What Simply Business Insurance is
✅ Types of insurance Simply Business offers
✅ How to get an insurance quote
✅ Factors that affect insurance costs
✅ How to save money on business insurance
By the end of this article, you’ll have a clear understanding of how Simply Business works and how to get the best insurance coverage for your business.
What Is Simply Business Insurance?
Simply Business is an online insurance broker that connects business owners with top-rated insurance providers. Instead of manually searching for quotes from different companies, Simply Business allows you to compare multiple insurance options in minutes.
📌 Key Benefits of Simply Business:
✔ Compare multiple insurance quotes from trusted providers
✔ Get a customized policy tailored to your business needs
✔ Buy insurance completely online in just minutes
✔ Access 24/7 policy management through their online platform
✔ Get expert support from licensed insurance agents
Simply Business specializes in providing affordable and flexible insurance plans for small businesses across different industries.
Types of Business Insurance Offered by Simply Business
Simply Business provides a wide range of insurance options to cover different risks businesses face. Here are the main types of insurance they offer:
1. General Liability Insurance
This is one of the most important types of business insurance. It protects your business from claims related to bodily injury, property damage, or personal injury.
📌 What General Liability Covers:
✔ Injuries that happen at your business location (e.g., a customer slips and falls)
✔ Damage caused to a client’s property (e.g., you accidentally break a client’s equipment)
✔ Legal fees and medical expenses if you get sued
💡 Best for: Retail stores, contractors, consultants, freelancers, and other small business owners.
2. Professional Liability Insurance (Errors & Omissions – E&O)
This insurance covers mistakes, negligence, or failure to deliver services that lead to a financial loss for a client.
📌 What Professional Liability Covers:
✔ Legal costs if a client sues you for poor service or a mistake
✔ Settlements if you are found responsible for financial losses
✔ Claims related to misrepresentation, inaccurate advice, or contract violations
💡 Best for: Consultants, accountants, lawyers, marketing agencies, IT professionals, and other service-based businesses.
3. Business Owner’s Policy (BOP)
A Business Owner’s Policy (BOP) combines general liability insurance with commercial property insurance in one package.
📌 What a BOP Covers:
✔ Property damage (for buildings, office equipment, inventory, etc.)
✔ Business interruption (lost income if your business closes due to damage)
✔ General liability (bodily injury, property damage, etc.)
💡 Best for: Small businesses that have physical locations, inventory, or expensive equipment.
4. Workers’ Compensation Insurance
If you have employees, workers’ comp is required by law in most states. It covers medical expenses and lost wages for employees who get injured on the job.
📌 What Workers’ Comp Covers:
✔ Medical bills for work-related injuries or illnesses
✔ Lost wages while an employee recovers
✔ Legal costs if an employee sues for workplace injuries
💡 Best for: Any business with employees, including restaurants, retail shops, construction companies, and offices.
5. Cyber Liability Insurance
This insurance protects your business from losses due to cyberattacks, data breaches, and hacking.
📌 What Cyber Insurance Covers:
✔ Financial losses from data breaches
✔ Costs of notifying affected customers
✔ Lawsuits related to stolen customer data
💡 Best for: Online businesses, e-commerce stores, IT companies, and businesses that store customer data.
6. Tools & Equipment Insurance
This insurance covers tools and equipment used for business purposes if they are damaged, lost, or stolen.
📌 What It Covers:
✔ Repair or replacement costs for tools and machinery
✔ Equipment stolen from a job site or vehicle
💡 Best for: Contractors, electricians, plumbers, carpenters, and mobile businesses.
How to Get a Simply Business Insurance Quote
Getting a quote from Simply Business is quick and easy. Here’s how:
Step 1: Enter Your Business Information
✔ Business name, industry, and location
✔ Number of employees (if any)
✔ Annual revenue and business structure (LLC, sole proprietorship, etc.)
Step 2: Select the Type of Coverage
Choose the type of insurance that best fits your needs. You can select one policy or multiple.
Step 3: Compare Quotes
Simply Business will provide you with multiple insurance quotes from top-rated providers.
Step 4: Choose a Policy & Buy Online
Once you find the right coverage, you can purchase it online and get instant proof of insurance.
Factors That Affect Business Insurance Costs
The cost of business insurance varies based on several factors, including:
📌 Industry & Business Type – High-risk industries like construction will have higher premiums.
📌 Location – Businesses in areas with higher risks (e.g., theft, lawsuits) may have higher costs.
📌 Number of Employees – More employees mean higher workers’ compensation costs.
📌 Annual Revenue – The more money your business makes, the higher the potential liability.
📌 Coverage Limits – Higher coverage limits increase your premium.
📌 Claims History – Businesses with past insurance claims may have higher costs.
💡 Tip: To get the lowest price, compare different quotes and choose only the coverage you need.
How to Save Money on Business Insurance
Business insurance is important, but you don’t want to overpay. Here are some ways to reduce your insurance costs:
✔ Compare multiple quotes – Simply Business makes this easy!
✔ Choose the right coverage – Don’t pay for insurance you don’t need.
✔ Bundle policies – Buying multiple coverages (like a BOP) can save money.
✔ Increase your deductible – A higher deductible means lower monthly costs.
✔ Maintain a good claims history – Avoid unnecessary claims to keep costs low.
✔ Look for discounts – Some insurers offer discounts for new businesses or safe workplaces.
Final Thoughts: Is Simply Business Insurance Right for You?
If you need affordable, flexible business insurance, Simply Business is a great option. It allows you to:
✅ Compare multiple quotes in minutes
✅ Get customized coverage for your business
✅ Purchase insurance 100% online
✅ Easily manage your policy anytime
Whether you’re a freelancer, contractor, or small business owner, Simply Business makes getting the right insurance coverage simple and hassle-free.
🔍 Ready to get covered? Get a Simply Business insurance quote today! 🚀