You’re a master of your trade, but what insurance your business needs might be more of a mystery. Business insurance is not the kind of topic you relish researching, but it can prove a useful tool in your kit. That’s why we sat down with award-winning digital insurance broker, Superscript, to see how insurance can support your business and provide all-important peace of mind.
Based in the heart of the City of London, Superscript has over ten years’ experience supporting thousands of business types – including over 6,000 tradespeople – to get the right cover. “Micro and SME trade companies are at the heart of what we do, and our mission is to make the whole experience of finding cover as painless as possible,” explains Henry Newby, Partnerships Director at Superscript.
“As a commercial insurance broker, we can provide a very broad range of products, including public liability, employers’ liability, contract works, tools and equipment, accident and sickness, professional indemnity and van insurance.”
What differentiates its approach is working with a range of insurance carriers, as Henry outlines. “If a tradesperson goes to a traditional broker or insurer, they are often presented with a packaged product from a single provider. We’ve deconstructed that approach to the benefit of the business owner.
“When you begin your quote journey with us, the individual components will often be underwritten by different insurers, but it’s all presented to you as a single Superscript proposition. It means you will get the best possible deal in each category – whether that’s public liability or accident and sickness – while only ever dealing with us as your one point of contact, with no additional admin.”
Superscript also have a dedicated in-house claims team who liaise with the insurance company on the customer’s behalf, managing the process from start to finish.
It takes an equally pioneering, modular approach to insurance, where the cover can change and evolve according to customer need, with fee free policy adjustments. “If you think about the way the market has operated traditionally, the ultimate outcome from the quote is a fixed annual contract,” adds Henry.
“A lot can change in 12 months, however, so we want our customers to be able to add and remove products, and that’s why we make it really simple to make changes. Our approach ensures that you know what you’ve got in place is appropriate for you and your business at any given moment in time.
“If you’ve taken on staff, you can, for example, add employers’ liability to what you already have. The beauty of our cover is that we can offer it on a temporary basis for employees who will be working 50 days or fewer. Similarly, if a builder secures a project where they will need a particular type of insurance, it can be put in place in minutes. Everything can be done digitally, so securing cover or making changes is very straightforward. With a good many builders undertaking business admin in the evenings after a day on site, that level of simplicity is priceless in protecting valuable leisure hours.”
Much of the cover offered is designed to support trades. Tools insurance can include the contents of your van if equipment is left inside overnight, for example. Superscript’s commitment to tradespeople is further underscored by its many partnerships, including with Checkatrade. To become a member of the lead generation site, you are required to demonstrate that you have public liability insurance, and Superscript is the chosen provider.
In terms of types of cover, Superscript is seeing an increased take-up of tools and equipment cover, whilst accident and sickness is also popular. For the self employed, any significant spell off work can be financially devastating, so its appeal is obvious.
As a skilled tradesperson, you shouldn’t have to be an insurance expert as well. It’s very easy to fall into the trap of being over- or underinsured, or even paying for a level of cover that you simply don’t need, as Henry explains: “At every stage, the guiding principle is to make sure that a trade business has exactly what they need. We’re committed to a fit and proper proposition where tradespeople can have faith in a clear and simple policy. We’re proud to have a very high Trustpilot rating, and a lot of those reviews are related to claims.”
For further information on Superscript visit Superscript business insurance.
