Coversure Hull expands as it acquires Grantham office in Lincolnshire

A Hull insurance firm which first launched in 2005 has expanded after it acquired a new franchise in Lincolnshire.

Andy Price founded Coversure in Hull as a one-man business, and over the five years that followed scaled it up to employ eight people.

Specialising in business fleet insurance, Andy has now taken over the Coversure franchise in Grantham, extending the firm’s presence south of the Humber.

Andy said: “I started the business off as a one-man band, and between 2006 and 2011 grew the team up to eight people.

“From there, we continued to consolidate that position doing mainly business in the Hull area.

“We mainly focus on the business side of vehicle insurance, including liabilities for tradespeople and fleet insurance.

Andy Price, owner of Coversure Hull and Grantham (Richard Addison)

“We also provide advice to businesses to make sure they have got what they need.”

Coversure is the UK’s largest insurance franchise, with almost 100 offices across the country.

The offices act as standalone, independent businesses, which are free to choose which markets to specialise in and set their own growth plans.

Andy said the opportunity to expand to Grantham arose when its Coversure branch owner announced her plans to retire and sell the office.

“We started talking about the move and possible strategy, and found we had similar aspirations so it was a natural progression,” Andy said.

“The Hull Coversure is already covering North Lincolnshire, but the Grantham office always us to extend that further.

“The deal was completed on July 1, so it’s a very exciting time for the business.”

Andy Price with the rest of the Coversure team in Hull (Richard Addison)

Janice Smith, former owner of Coversure Grantham, will remain in the firm as office manager, helping to grow the franchise further.

Unlike Hull, Coversure Grantham focuses more on personal and household insurance, due to its high-street position in the town.

Andy said his plan for the new office was to grow its commercial book to the £1m mark, and to increase its presence in the Lincolnshire area.

“Coversure is bucking the trend a little bit when it comes to the insurance sector,” he said.

“We are growing while other places are shutting. I think the franchise model works – it means we have got business owners in every branch.

“It is also nice to have high street side giving the way things are going at the moment – more and more places are shutting up.

“I hope to continue to grow the Coversure business organically, which is what I have done from the start.”