Frequently Asked Questions

Need answers? Take a look through our FAQs below

We have answered some of our most frequently asked questions below, but if you still can’t find the answers you are looking for, give our Customer Services team a call on 0330 134 4602.

 

FAQs
WHAT ARE YOUR OFFICE OPENING HOURS?

We are open Monday to Thursday, 9am until 6pm, Friday 9am until–5pm.

IS SME INSURANCE FCA REGISTERED?

Yes, we are authorised and regulated by the Financial Conduct Authority (FCA). Our registration number is 306057.

WHY SHOULD I USE A BROKER?

Using a broker to arrange your insurance may help reduce your workload and the associated time it takes you to search for your insurance. It is our aim to help you get value for money therefore we use the strength of our market position to negotiate with insurers, in advance, the product and premium pricing. We do this to help deliver the right product, at the right price for our customers. To present you with the options available to you, we compare insurance from a panel of UK insurers so that we can recommend a product to suit your business needs.

HOW LONG DOES IT TAKE TO GET A QUOTE?

You can get a quote by telephone. On average a quote will take around 10 minutes over the phone, depending on the complexity of the business requirements.

HOW LONG WILL IT BE BEFORE I AM COVERED?

If you are arranging insurance on the phone, you can be covered straight away, subject to a 10% deposit. The remaining payment can be set up within 7 days. Be sure to let us know you want cover to start immediately. However if you don’t want immediate cover, 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. However, on rare occasions the insurer may choose to visit your premises.

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 documentation or information 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, their value would be required also.

WHAT IF MY INSURANCE REQUIREMENTS CHANGE DURING MY POLICY TERM?

If something about your business or property changes, it may require you to adjust your policy. We can make the changes over the phone and update your cover as necessary. For example, if you wanted to fit an ATM machine in your shop, you should call us to check how it affects your insurance policy. 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 you have to make a claim, 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 and we can then amend your details. Please note that the change of premises may affect the cost of your insurance.

WHAT DO I DO IF I NEED TO MAKE A CLAIM?

You will need to contact the claims department on 0330 134 4606 or email claims@pclaims.co.uk.

HOW DO I KNOW I AM GETTING A GOOD DEAL?

SME Insurance acts as a broker and we are not tied to a particular insurer. We give our customers the ability to search and compare products from a number of UK insurers, so you can choose the right product for you and your business, at the right price. To offer you these insurance options, we use the strength of our market position and our close relationships with the insurers to negotiate the best possible cover and prices we can for our clients.

IF I WAS TO FIND A LOWER QUOTE ELSEWHERE ARE YOU ABLE TO MATCH OR BEAT IT?

We will always do our utmost to beat your current price or other genuine like-for-like quotes you have been offered. We will offer you a quotation and policy best suited for your needs.

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.

HOW DO I GET MY DOCUMENTS?

Once you have purchased your policy, you will be sent an email and sms 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 are stored. If for any reason you cannot print your documents off or have technical issues then please call us on 0330 134 4600.

ARE PRINTED COPIES OF MY INSURANCE DOCUMENTS VALID?

Yes, if you 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 UK insurers, who are all regulated by the Prudential Regulation Authority (PRA).

WHAT IF MY TRADE IS NOT COVERED?

When you contact us, the first question you will be asked is your trade/business so we can let you know straight away if we might be able to help you.

HOW SOON BEFORE MY RENEWAL DATE CAN YOU GIVE ME A QUOTE?

As quotes are only valid for a certain period of time, it is best to apply for a quote up to 30 days 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, some policies may have a specific extension to include this cover, but not all policies do. We may be able to provide a separate policy for this cover. When you contact us please let us know if you would like it included in your quotation.

I HAVE PREVIOUSLY CLAIMED, CAN YOU STILL COVER ME?

Having a previous clam doesn’t necessarily mean you can’t be covered. New policies are done on a case-by-case basis, therefore please call us on 0330 134 4600 to discuss your circumstances.

WHAT IS INSURANCE PREMIUM TAX (IPT)?

IPT is charged by HM Revenue and Customs. IPT is currently 9.5% for business insurance policies.

IF I CANCEL MY POLICY DURING THE POLICY TERM WILL I BE REFUNDED?

We do not provide a refund should the policy be cancelled. Please check your policy wording for details on refunds.

DO YOU OFFER A NO CLAIMS DISCOUNT?

Most insurers will recognise a risk that has a good claims experience and will discount accordingly.

I WOULD LIKE TO LINK MY SITE TO SME INSURANCE’S WEBSITE, AM I OK TO DO THIS?

Generally, we would welcome you to add links to our site from yours, however if you wanted to talk to us in more detail about such affiliations please call 0330 134 4645 to speak to the marketing team before doing so.

Feefo Reviews
4.6/5
Based on 172 reviews

92% of our customers would recommend our service.

Feefo
Customer Testimonials
SME Insurance is always best. We have more than 10 hair salons and they never forget the renewal time, never renew the policy without asking, customer service always polite and solve any problems quickly. Also I can see all of my policies on their portal, no waste of paper, everything online. Thank you SME!

Rana Dincer

Log your renewal
Need a reminder?
Related News from SME

What’s on the menu at Takeaway and Restaurant Innovation Expo?

A tailored insurance policy that whets your appetite and could save you 10%.

Certsure Announces New Relationship with SME Insurance Services

Providing NICEIC and ELECSA Insurance Services to tradespeople in the UK

Are Late Paying Customers Putting Your Business at Risk

Many small or medium sized businesses (SMEs) often experience difficulties with late payments and subsequently the pain that goes with customers…

Could the Shortage of Skilled Workers Threaten Your Takeaway Business?

The British Takeaway Campaign published research showing that the UK’s appetite for local takeaway restaurants continues to thrive as it contributed…

Quotes from a panel of UK Insurers