FAQ'S

Below are some frequently asked questions, if you need definitions for different types of insurance or insurance terminology, please see our Glossary of Terms.

What are your office opening hours?
Is SME Insurance FSA Registered?
Why should I use a broker?
How long does it take to get a quote?
How long will it be before I am covered?
Do you come out to evaluate my premises and business when providing a quotation?
How long is a quotation valid for?
What details will you need to know about my business?
What if my insurance requirements change during my policy term?
I am moving to new premises– whom do I need to contact?
What do I do if I need to make a claim?
How do I know I am getting a good deal?
If I was to find a lower quote elsewhere are you able to match or beat it?
How can I pay for my policy?
How do I get my documents if I buy online?
Are printed copies of my insurance documents valid?
My insurance is not due for renewal yet; can you call me closer to the time to remind me?
Who underwrites the policies?
What if my trade is not covered?
How soon before my renewal date can you give me a quote?
Do your shop policies automatically include seasonal increases for stock cover?
Do all policies include legal expenses cover?
I have previously claimed, can you still cover me?
What is Insurance Premium Tax (IPT)?
If I cancel my policy during the policy term will I be refunded?
Do you offer a no claims discount?
I would like to link my site to SME Insurance’s website, am I ok to do this?

 

What are your office opening hours?

We are open from Monday to Friday, 9am until 5pm.

 

Is SME Insurance FSA Registered?

Yes, we are FSA registered. Our registration number is 306057.

 

Why should I use a broker?

Using a broker to arrange your insurance allows you to get the best product for your business whilst getting the best possible value for money. We compare prices from a panel of the UK’s leading insurers so that you can choose the most competitive price available.

 

How long does it take to get a quote?

You can get a quote in one of two ways, online or by telephone. Over the phone a quote will take around 5-10 minutes depending on the complexity of the business requirements. If you wish to get an online “quick quote” it takes just 2 minutes.

 

How long will it be before I am covered?

If you are arranging insurance on the phone, cover can be immediate. However if you buy online cover will start as soon as you complete the purchase and pay sections of the site. Be sure to state you want cover to start immediately. However if you don’t want cover to start immediately, you can specify a start date that suits you.

 

Do you come out to evaluate my premises and business when providing a quotation?

No, in most instances no one will come out to your premises. The quotation is based on what you tell us about your premises and business. It is up to you to inform us of anything you think may affect your insurance quote, information provided should be accurate and honest.

 

How long is a quotation valid for?

Your quotation is valid for 30 days.

 

What details will you need to know about my business?

It is helpful to have any previous insurance policies handy, and any renewal prices or quotes you have got so far. It doesn’t matter if you don’t have them though, we will guide you through the relevant questions. Basic details about your business and property will be needed, if you have any tools or stock to insure for example, a rough idea of their value would be required also.

 

What if my insurance requirements change during my policy term?

If something about your business or property changes, for example you wanted to fit an ATM machine in your shop, you should call us to check how it affects your insurance policy. If the change does require you to adjust your policy we can do that over the phone and update your cover as necessary. It is always worth calling to check how changes to your business might affect your cover. Some alterations may increase your risk factors and therefore should the worst happen, you might have voided your policy by not informing us of changes made.

 

I am moving to new premises– whom do I need to contact?

You will need to contact us quoting your policy number; we can then amend your details.

 

What do I do if I need to make a claim?

As SME Insurance act as brokering service to our customers only, if you need to claim you should ring your insurer directly.

 

How do I know I am getting a good deal?

SME Insurance acts as an independent broker, we give our customers the ability to search and compare prices from a number of top insurers, so our customers know they are getting the best deal possible.

 

If I was to find a lower quote elsewhere are you able to match or beat it?

We will always do our best to beat your current price or other genuine like for like quotes you have been offered.

 

How can I pay for my policy?

We have flexible payment options like monthly direct debits, however if you wish to pay up front you can use credit/debit cards, BACS and American Express (however AMEX will incur a 3% surcharge).

 

How do I get my documents if I buy online?

Once you have purchased your policy, you will be sent an email with a link to your policy documents. They are also accessible by logging into the SME Insurance site and logging into your profile where all your policy documents and quotes are stored. If for any reason you cannot print your documents off or have technical issues then please call us on 0844 855 4600.

 

Are printed copies of my insurance documents valid?

Yes, if you buy online and print your documents off they are valid policy documents.

 

My insurance is not due for renewal yet; can you call me closer to the time to remind me?

Yes, please leave your details with us and we will call you to talk about your insurance closer to the time.

 

Who underwrites the policies?

We use a number of top UK insurers, full details of each are available here. All our insurers are regulated by the Financial Services Authority (FSA).

 

What if my trade is not covered?

When you get a quote online, the first question you will be asked to complete is your trade/business. You can choose from a long list of different trades. If however, your trade is not listed then please call us as we can only provide insurance quotes online for the job titles/businesses listed. We can offer insurance to other trades also but you would need to call us on 0844 855 4600.

 

How soon before my renewal date can you give me a quote?

Usually as quotes are only valid for 30 days it is best to apply for a quote up to a month before your policy anniversary date.

 

Do your shop policies automatically include seasonal increases for stock cover?

Yes but the amount varies between policies, so please call us for more details.

 

Do all policies include legal expenses cover?

No, not all policies do, but it can be added as an extension of cover, so please specify if you would like it included in your quotation.

 

I have previously claimed, can you still cover me?

Yes, it should not be a problem, new policies are done on a case by case basis. Please call us on 0844 855 4600 to discuss if you are at all unsure.

 

What is Insurance Premium Tax (IPT)?

Insurance Premium Tax is charged by HM Revenue and Customs. IPT is 6% for business insurance policies.

 

If I cancel my policy during the policy term will I be refunded?

Possibly, you may get a pro rata refund, however certain policies do not have a ‘refund of premium clause’ in them so please check your policy wording for details on refunds.

 

Do you offer a no claims discount?

Yes we do.

 

I would like to link my site to SME Insurance’s website, am I ok to do this?

On the whole we welcome you to add links to our site from yours, however if you wanted to talk to us in more detail about such affiliations and recommendations please call 0844 855 4677 to speak to the marketing team.

If you are unsure as to what types of insurance your business needs please call us on 0844 855 4600