Simply Business landlord insurance review

We've reviewed the landlord building and contents insurance through Simply Business. It covers a wide range of properties and tenant types including professionals, families and students.

Simply Business Insurance

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What is Simply Business?

Simply Business is a specialist insurance provider that was created in 2005. It offers a wide range of business and landlord insurance policies, which you can tailor to specific areas.

The landlord insurance offered through Simply Business is available for both residential and commercial properties, but you’ll need to add accidental damage cover as an extra as it’s not included in a standard policy. What is included as standard is £600,000 blanket cover in case your property is destroyed and needs to be rebuilt.

There are several other optional extras such as landlord boiler breakdown, legal expenses and loss of rent cover. What’s more, customers that refer a friend to Simply Business could receive a £50 reward. Here’s what else we think you should know.

Simply Business is a trading name of Xbridge Ltd, which is authorised and regulated by the Financial Conduct Authority.

What is covered under my policy?

Simply Business landlord insurance policies offer cover and protection for your rental property against the following risks:

  • Fire and lightning
  • Flood, storm and other weather damage
  • Escape of water from leaks caused by frozen or burst pipes
  • Loss of metered water or oil
  • Earthquakes
  • Explosions
  • Subsidence
  • Trace and access
  • Theft, malicious damage and vandalism

Simply Business insurance policies also include some extras as standard. For a full list of policy features, you’ll need to contact Simply Business directly or carefully check your policy document to ensure you have the right cover for your needs.

Optional extras

As you’ll be able to pick and choose exactly which protection you’d like, Simply Business offers landlords a wide range of optional extras that you can bolt onto a landlord insurance policy. These include the following:

  • Buildings insurance
  • Contents insurance
  • Property owner’s liability insurance
  • Loss of rent cover
  • Alternative accommodation insurance
  • Accidental damage insurance
  • Landlord boiler breakdown cover
  • Tenant default insurance
  • Landlord legal expenses insurance
  • Fixtures and fittings insurance
  • Employer’s liability cover
  • Landlord home emergency cover
  • Unoccupied property insurance
  • Rent guarantee insurance

What is my excess?

Your insurance excess is the amount of money you will need to pay towards a claim. Your insurer won’t pay out for a claim that costs less than this amount. A compulsory excess amount might vary depending on the age of your building.

A voluntary excess is on top and you normally set the amount when taking out a policy. You’ll have the option of adding or increasing a voluntary excess – which should lower your premium.

You’ll find details about any compulsory or voluntary excesses in your policy document.

How much is this going to cost me?

There are a number of factors that can affect the cost of your Simply Business landlord insurance premium, including the following:

  • Your sum insured. The greater the amount you wish to insure your property or contents for, the more you can expect to pay for cover.
  • Your property. The age of your property and the materials from which it is constructed can influence its ability to withstand damage.
  • Where your property is located. Certain risks, for example, storm and theft, are more prevalent in certain areas, and insurers will take this into consideration when calculating your premiums.
  • Security. Security measures such as an alarm system and deadbolts can act as a deterrent to thieves and therefore reduce the cost of your cover.

What is the claims process for Simply Business?

You can call the Simply Business landlord insurance 24/7 claims line on 0333 207 0560 to make a claim. Alternatively, you can visit the Simply Business claims page on its website and complete the claim form online. You also have the option to email your claim via simplybusiness@uk.sedgwick.com.

You’ll need to have your insurance policy details as well as all facts about any incident to hand.

Depending on the nature of your claim, you will need to provide the following information:

  • Your policy details and personal contact details
  • The date of the incident
  • Details such as the cause of the incident, loss or injury
  • The value of any lost or damaged items being claimed for
  • Names and address of any other people involved or responsible for the incident, including details of injuries)

It’s vital that you let your insurer know about an incident as soon as possible. Failure to do this could result in a rejected claim later on.

Simply Business pros and cons

Pros

  • Fully flexible cover options to suit a range of requirements and budgets
  • Claims can be made via 24/7 claims line or online

Cons

  • Accidental damage is not included as standard and will need to be added at an additional cost

The offers compared on this page are chosen from a range of products we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations), aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When making a big financial decision, it's wise to consider getting independent financial advice, and always consider your own financial circumstances when comparing products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Helen Champion was an associate editor at Finder. She has worked in communications for over 16 years and currently writes on a range of topics including insurance and money transfers in the hope of empowering people to make better financial decisions. During her broadcast career, she helped to produce hundreds of news and breaking news reports for Associated Press TV and ITV News. And in public relations, she managed several high-profile public relations campaigns for Macmillan Cancer Support, the General Medical Council and overseas for Qatar Foundation on behalf of BLJ Worldwide. Helen has a Bachelor of Arts in Journalism from the University of Lincoln, a passion for practising karate in the dojo and a deep love of making mischief with her sons. See full bio

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