Simply Business Insurance Review

Pros

• Licensed in all 50 states and Washington, D.C.
• Strong reputation

Cons

• Limited policy offerings
• Can’t file claims with Simply Business

What Is Simply Business Insurance?

Simply Business is licensed as a broker to help small businesses find insurance that meets their needs through 18 different insurance carriers.

The parent company of Simply Business, Travelers Insurance, is our top pick for the best small business insurance for risk management. Simply Business also offers plans through affordable and accredited insurance providers like Cerity, Markel, and Clear Blue.

Insurance Broker VS Insurance Agent

When shopping for business insurance, you may have a choice between working with an insurance broker or an insurance agent. Think of the difference between an insurance agent and an insurance broker like this:

• An insurance agent represents one or more insurance carriers and helps customers purchase coverage from one of those carriers.
• An insurance broker represents the customer and plays an advisory role in finding the right coverage at the right price from whatever carrier is determined to best meet the customer’s needs.

Brokers like Simply Business do not cover customers directly. Instead, a Simply customer who buys insurance will receive quotes through Simply and be handed over to an insurer or insurance agent to secure coverage.

Simply Business Insurance Pricing

It’s not easy to find pricing information about most insurance products. This is because the cost of business insurance depends on a variety of factors, including what type of coverage you’re seeking, where your business is located, and what industry you work in.

While Simply Business also relies on personalized price quotes, the company does state that restaurants and retailers can pay as little as $550 annually for basic insurance coverage.

We gave Simply Business a 5.0/5.0 stars in the Pricing category because the company is transparent about the variation in pricing and explains why a personalized quote is required.

Simply Business also promises to help you compare the price differences between carriers, so you can make sure you’re getting the best coverage for your money.

So how does Simply Business make its money? As a Simply Business client, you won’t pay anything for its brokerage service. Simply Business receives commissions from the insurance providers it connects you with.

How To Get A Quote From Simply Business Insurance

Screenshot of Simply Business Insurance’s quote calculator

Simply Business’s quote process is simple and has a promised response time of 10 minutes.

You can start the process online by providing some basic information, or you can call Simply Business on weekdays if you’d prefer to speak to a person.

To start online, you’ll need to select your profession/industry and the state where you’re located. The next step clarifies how and where you do business, giving you five options to consider: on customers’ property, out of your home, with employees, and so on.

Next, you’ll be offered suggestions for typical coverage for businesses like yours. You can always open the dropdown menu to see other types of coverage available. A chat option is available at this stage if you have questions.

A few more questions about your business later, you’ll be prompted to enter your contact information. You will receive a business insurance quote from insurance providers once you have completed the online form.

Simply Small Business Insurance Features

Simply Business doesn’t have a lot of features to offer, so we gave the company a 3.2/5.0 in the Features category.

This lack of features is because Simply Business is an insurance brokerage and not an insurance carrier. Technically, there are a lot of features that Simply Business can offer you through whatever insurance provider you choose, but they are not Simply Business features.

If you are looking for features like online claims filing or loss control and risk management planning, you’ll do better talking about your options with the carrier or agent you eventually receive coverage from.

That said, Simply Business does offer a reasonable amount of features and support to customers, including an online dashboard you can use to manage your policy.

Here’s an overview:

Simply Business Insurance Coverage Options

Simply Business does not offer as many types of business insurance as you might expect to find from a direct insurer, but that doesn’t mean you won’t be able to find what you need.

• General Liability
• Business Personal Property
• Professional Liability (Errors & Omissions)
• Home-based Business
• Workers’ Compensation
• Sole Proprietor’s Workers’ Compensation
• Cybersecurity
• Self-Employed
• Inland Marine

The most obvious coverage missing from Simply Business’s offerings is commercial auto insurance. If you need vehicle coverage of any kind for your business, you’re going to need to find another insurance broker or get an additional policy from another insurance provider.

You may also want traditional commercial property insurance, depending on where you do business. Property insurance designed to protect your physical business can help with the cost of accidents, theft, fire, and other natural disasters.

Best Suited For…

Simply Business does not have any restrictions on the type or size of business the company works with.

However, due to the relative lack of coverage types, we think larger businesses with complex insurance needs would do better with another insurance brokerage or by working directly with an insurance agency.

That said, Simply Business seems like a great option for smaller businesses, including sole proprietors. With an advertised starting price of around $21/month for coverage, self-employed workers and independent contractors will find affordable options for basic coverage.

That’s true even if you’re operating a small business on the side. You won’t need full-time income to be able to afford full-time insurance coverage via Simply Business for your small or micro business.

Simply Business Insurance Claims

If you obtain coverage through Simply Business, you won’t file any claims in the future with Simply Business. Instead, you’ll need to contact the insurance agent or insurance agency that provides your coverage.

Remember that Simply Business is an insurance broker, not a direct insurer. Simply Business is licensed and regulated, and it’s safe to obtain coverage via Simply Business. However, Simply Business itself does not provide coverage. As a broker, it is the job of Simply Business to connect its customers with licensed insurance agents and agencies.

How To File A Claim With Simply Business Insurance

You can start the process of filing a claim on Simply’s website. You’ll be instructed to check your policy documents to determine who holds your insurance policy. Contact information for all the providers Simply Business works with is provided on one webpage. That includes direct links, where available, to start your claim online.

On the Simply Business website, you’ll find contact information for each of the insurance providers the brokerage works with. Simply Business lists direct contact information for claims for many of the providers it works with.

Customer Service & Support

It’s easy to contact Simply Business.

You can call the company directly Monday-Friday from 8 AM-8 PM ET. A help center also offers assistance with routine tasks like adding an additional person to your policy, locating your policy document and details, obtaining a certificate of insurance (COI), updating your policy and payment details, or changing your coverage limits.

What Simply Business doesn’t offer is a dedicated support representative, a support ticket system, or videos and tutorials to help out their customers. This is why we gave them a 1.3/5.0 in the Customer Service category.

There is a live chat support function, but customers are only able to access this once they pass a certain step in the online quote process.

It is important to note that if you have to file a claim, this will be done with the company you’ve selected and not with Simply Business. Claims processes vary by provider in terms of difficulties, quality of support, and other factors.

Simply Business Insurance Reviews

Simply Business has a solid reputation. For starters, the company is accredited with the Better Business Bureau and maintains an A+ rating and 3.8/5.0 stars.

There have been seven complaints filed with the BBB against Simply Business in the past three years. The company provided a courteous, detailed response to each complaint that explained the reasons for its actions.

Positive Simply Business Insurance Reviews

With over 1,300 reviews on Trustpilot, Simply Business has a composite rating of 4.6/5 stars and an impressive percentage of 5-star reviews. Here are details of what customers like about doing business with Simply Business:

Negative Simply Business Insurance Reviews

Although Simply Business is generally well-reviewed by its customers, a few complaints emerge from the comments posted online. Here’s a sampling of what we found:

Final Thoughts On Simply Business Insurance

Simply Business is an insurance broker with a solid reputation, backed by one of the insurance industry’s titans. Simply Business customers rate the company highly, and we tend to agree.

That said, Simply Business will not be a good fit for every customer.

If you are a small business owner looking for basic insurance coverage, it’s definitely worth contacting Simply Business. Ask for a free quote, and you’ll receive a few options from different insurance carriers. You can choose the carrier that offers the best coverage for you at a price you’re comfortable with.

If your business is larger and your insurance needs are more complex, you may not find what you need with Simply Business. You’re better off with an insurance carrier like Chubb which specializes in complex/large insurance policies.

Need help getting started on your business insurance journey? We’re here to walk you through the steps to get business insurance to hopefully get you on your way to finding the perfect provider!

Business Insurance Review Methodology

We spend hours researching and evaluating each business insurance provider we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.

When rating business insurance companies and policies, we use a 26-point rubric that looks at pricing, features, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

• Pricing: 45% of the total star rating
• Features: 30% of the total star rating
• Customer Support: 20% of the total star rating
• User Reviews: 5% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we examine specific attributes like the relative cost of policies compared to industry standard, the transparency of pricing, and how many types of business insurance are offered. We also check to see whether the insurance provider offers multiple ways to file claims and how difficult the filing process is, awarding higher rankings to those that provide excellent customer support and an intuitive process.

Read more about how we rate business insurance companies.

The Merchant Maverick Seal of Approval 🏆

Simply Business Insurance	Visit Site

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Simply Business Insurance for yourself.

The Merchant Maverick Seal of Approval 🏆

Simply Business Insurance	Visit Site

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Simply Business Insurance for yourself.