The Choice for Comprehensive Coverage: Simply Business, Huckleberry, or Embroker?
Last Updated on October 27, 2022
In today’s world, it is nearly impossible for a small business to operate without insurance coverage. The most popular insurance solutions are available to protect your small business from practically everything in daily life, including clients slipping on your premises, clients being dissatisfied with your services, and equipment breaking down.
However, as businesses innovate to set themselves apart from others and as the world evolves in general, so do business risks grow in number. This is especially evident in how natural disasters affect small businesses, as well as the increasing use of technology and crime’s potential occurrence digitally.
Insurance brokers such as Simply Business, Huckleberry, and Embroker provide comprehensive coverage for hundreds of industries whether they are in the food and beverage industry or tech. In this article on Simply Business vs. Huckleberry vs. Embroker Insurance for small businesses, we will be breaking down key differences among the three to give you a clearer picture of which one can provide the protection your enterprise needs.
Table of Contents
Where to Start
Company Descriptions
Simply Business
Huckleberry
Embroker
Coverages Offered
Online and Offline Support Availability
Insurance Policy Costs
Pros and Cons
The Bottom Line
Where to Start
As a small business owner, it’s important to think about all of the potential risks that your business could face and make sure that you are properly protected. One way to do this is to get insurance for your small business from a reputable and reliable provider.
Additionally, there are a lot of different types of insurance policies out there, and it can be difficult to know which one is right for your business. However, getting the right insurance coverage is important because it can help to protect your business in the event of an accident, theft, or another unforeseen incident.
Some things that you should consider when choosing an insurance policy for your small business include:
- The type of business that you have. There are different types of insurance policies available depending on the type of business that you have. Make sure to choose a policy that is specifically designed for businesses like yours.
- The location of your business. Where your business is located can impact the types of risks that it faces. If your business is in a high-risk area, you will need to make sure that you have coverage for those specific risks.
- The value of your assets. Make sure to insure your business for the full value of your assets. This way, if anything happens to them, you will be able to replace them.
- Your employees. If you have employees, you will need to make sure that they are properly protected by your insurance policy. Workers’ compensation insurance is required by law in many US states..\
Getting the right insurance coverage is important for any small business. By taking the time to choose the right provider and policy, you can help to protect your business from a variety of risks.
Insurance Broker VS Insurance Provider
An insurance broker is a company that helps you find and compare insurance policies from different companies. They work with many different insurers and can help you find the right policy for your needs. A business insurance provider is a company that provides insurance coverage to businesses. They are typically more specialized in their offerings and may have more experience working with businesses in your industry.
Company Descriptions
Now that we’ve gone over some things to keep in mind when choosing an insurance provider, let’s take a look at some of the most popular insurance brokerages: Simply Business, Huckleberry, and Embroker.
Simply Business
Founded in 2005, Simply Business specializes in assisting small businesses and landlords in getting insured. They are a UK-based company with offices in Boston and London, and they operate online to simplify the insurance-buying processes for their market.
They have had 800,000 customers since their establishment and currently offer business insurance by business (trade and industry) or business type (LLC, sole proprietorships, etc.).
Huckleberry
Huckleberry is a technology-driven insurance broker brought up in 2017. It works with a team of expert advisors to provide fast quotes online at a competitive price.
This company caters to small businesses such as restaurants and bars and is backed by partners such as AmTrust Financial, Berkshire Hathaway Guard Insurance Companies, Markel Insurance Company, and Hiscox.
Embroker
Another technology-driven company, Embroker was founded in April of 2015 to streamline insurance for businesses of all sizes.
They offer packages designed for startups and connect clients with small business advisors to help them understand which policies suit their business and how the insurance process goes.
Some of their unique offerings include key person insurance and tech errors and omissions insurance which will be discussed in a later section.
Coverages Offered Across All Three Companies
Before delving into their differences, we wanted to list the types of coverage that are common to Simply Business, Huckleberry, and Embroker. Your business may not need specialty coverage, so these may be the only policies you are in search of:
General Liability Insurance: General liability insurance protects businesses from claims of injury to customers or damage to their properties which are among the most common claims when concerning small business owners. As such, it can cover both medical expenses and legal costs if necessary.
Professional Liability Insurance: Professional liability insurance is often required for any self-employed professional or employee of a professional services business to protect himself/herself from being held liable for losses or harm experienced by clients after availing of their services.
Workers’ Compensation Insurance: Often shortened as workers comp, is insurance required for businesses that have more than one employee in most states to protect from the physical risks of performing their job.
Coverages Only Offered by Two Brokers
Moving forward, below are the insurance coverages which you can only get from two of the mentioned companies:
Cyber insurance: This policy is only offered by Simply Business and Embroker. A cyber insurance policy, often known as “cyber risk insurance” or “cyber liability insurance,” is financial protection that allows firms to cover the cost of recovering from cyber-related attacks, security breaches, and other events.
Coverages Offered by Both Huckleberry and Embroker
Business Owners’ Policy (BOP): This policy combines general liability and commercial property insurance to protect your business once accused of bodily injury or property damage and its assets from theft or damage, respectively.
Business Interruption Insurance: An interruption insurance policy (also known as business income insurance) is a form of coverage that can help your company if you have to close down temporarily because of a covered event.
Employment Practices Liability Insurance: Employment Practices Liability Insurance (EPLI) is a policy that protects businesses from employee-related lawsuits such as those alleging wrongful termination or discrimination.
Employee Dishonesty Insurance/Employee Theft Insurance: Employee dishonesty insurance—also known as employee theft insurance—protects your company against the misconduct of a dishonest team member, whether it is due to fraud, forgery, or outright thievery.
Coverages Only Offered by Huckleberry
When it comes to coverage selections, Huckleberry takes the lead. Below are the types of insurance that are provided by Huckleberry and not Simply Business nor Embroker:
Commercial Auto Insurance: Commercial auto insurance protects vehicles that are used for business purposes, whether they belong to you or your company.
Business Property Insurance: Business property insurance ensures that your company will be compensated for repairs if your building is damaged.
Liquor Liability Insurance: Liquor liability insurance protects you from having to pay medical bills, property damage, and court costs if a visibly intoxicated person to whom your business sold alcohol causes damage.
Hired and Non-Owned Auto Insurance: This is commercial auto insurance for vehicles that you do not own.
Spoilage Coverage: Designed for businesses in the food and beverage industry, spoilage coverage is straightforward in that it will pay out spoilage losses if refrigeration equipment breaks or shuts down.
Equipment Breakdown: Speaking of breaking down, equipment breakdown coverage protects your business equipment, like computers and mechanical or electrical systems.
Restaurant Endorsement: This is an add-on to BOP that is offered by Huckleberry for those in the restaurant business. It usually includes spoilage and food contamination coverages to help owners with risks that are not usually covered in common policies.
Coverages Only Offered by Simply Business
Business Personal Property Insurance: Business personal property (BPP) insurance is an add-on to general liability insurance and covers the assets such as furniture, fixtures, equipment, and inventory in your workspace.
Sole Proprietors Workers’ Compensation: This has the same protection offered by workers’ compensation but is for the owner and only employee of a small business.
Inland Marine Policy: Inland marine insurance covers you if your equipment or tools are damaged or stolen while they’re in transit or on a job site.
Coverages Only Offered by Embroker
Key Person Insurance: A corporate purchases key person insurance to protect the life of one of the firm’s most vital workers. It’s designed to assist a firm recover from the loss of a significant contributor who would have harmed the company’s value and operational capabilities through his or her death or disability.
Tech Errors and Omissions: Tech errors and omissions (Tech E&O) is a specially designed insurance coverage for individuals in the technology sector.
Fiduciary Liability: This protects fiduciaries such as directors, officers, and managers from claims of mismanagement and legal liability related to their position.
Online and Offline Support Availability
Now that you more or less know which company has what you need for protection, it is worth looking at the availability of their support channels to know if they can deliver services beyond just selling insurance.
Do note, however, that because all the insurance companies are only brokers, you will have to get in direct contact with your provider for a claim.
Simply Business Support
Simply Business support combines offline and online channels as you can reach the company either through phone or email. Their line 1-855-769-6958 is open from Monday-Friday between 8 a.m.-8 p.m. ET.
Huckleberry Support
Huckleberry support is primarily delivered through live chat. Requests, inquiries, and feedback are all sent through this channel whether or not an agent is available. Once agents are online, they will be ready to speak with you or get back to you regarding your submitted message.
Embroker Support
Embroker also utilizes both online and offline channels as they are reachable through both phone, email, or live chat. Their phone number is 1-844-436-2765 while their email is hello@embroker.com. Agents are available to serve Embroker customers from Monday-Friday between 6 a.m.-6 p.m. PT.
Insurance Policy Costs
Insurance policy prices will vary depending on the size of your business, your industry, your location, and a variety of other factors. However, we’ve compiled some information from their websites to paint a picture of how much an insurance policy would cost if you purchase from any of the companies.
Simply Business quotes start from $22.50 a month or $270 annually while a general liability policy from Huckleberry can cost as little as $34 monthly or $408 annually. As of writing, there are no prices available for Embroker but their packages could help you save money on your premiums as they bundle coverages suited for your size and needs.
Pros and Cons
Simply Business is best for more traditional and established businesses as evidenced by their resources for business by type, industry, or trade. With their experience in the insurance industry, it makes sense that they also have longstanding clients who appreciate their offline and online channels. However, because their coverage choices are broader for UK-based firms since they are headquartered there, they may not have the same add-ons as the other two.
Even though businesses usually change slowly, this small business insurer is using technology to its advantage and making insurance simpler. You can find our Simply Business insurance review here.
On the other hand, if you are in the food and beverage or restaurant and bar industry, Huckleberry offers comprehensive policies that could protect your products. The company also offers instant estimates, as well as fast application and approval for policies, but they may not be a suitable option for small business owners who prefer to call an agent for inquiries and resolutions since they only provide a live chat function.
Huckleberry understands the new landscape, and is using it to create a more agile and flexible company. One that can provide the insurance protection small businesses need, without being bogged down by legacy systems. Hop over and read the complete Huckleberry insurance review we put together.
Lastly, Embroker is the most accessible among the three as they are reachable through all communication channels (phone, email, and chat). They would also be the sensible option if your company has unique risks or belongs to the tech industry. Moreover, not only do they offer new types of coverage, but they also bundle these into packages to meet the needs of businesses whether they are only a startup or an already growing enterprises.
Changes in the business world come slowly, but they do come. This small business insurer is using that change to its advantage, and reaping the benefits. Learn more in our Embroker insurance review and decide if they’re a good fit for your small business.
The Bottom Line
There is no one-size-fits-all when it comes to business insurance as the needs of each company will differ. We hope that this article has helped you get an idea of what coverages are available and which company could better suit your business needs. Simply Business, Huckleberry, and Embroker all have their pros and cons so be sure to take these into consideration before making a purchase.