Today we’re taking a look at the best small business insurance companies. What are the best companies to get insurance for your small business?
Finding the right small business insurance means covering your specific business needs, risk, industry, size, and location, since different providers excel in different areas, whether that’s convenience, specific coverages, or agent support.
This article may contain affiliate links, meaning we may earn a commission if you sign up through one of the providers listed below.
The Comparison Page
This list was put together in partnership with money.com, comparing some of the best business insurance companies. Running a business always carries some risk, but commercial insurance covering theft, liability, property damage and business interruption can help minimize that risk. This page is meant to stay current no matter when you’re reading it. Before diving into our number one pick, keep in mind you can enter your zip code to confirm a given provider actually offers coverage in your area.
The Hartford
Our number one choice is the Hartford. The Hartford offers comprehensive business insurance coverage for businesses of all sizes and industries, with customizable coverage levels. The company says it has over 200 years of experience helping business owners, and employee benefits are also available. When you request a quote, you’ll answer some basic questions about your business, such as whether you already have insurance, don’t have insurance yet, or are just starting a business and exploring your options, along with how your business is structured, whether that’s an association, corporation, S corp, sole proprietorship, LLC, or another setup.
Coverage Options From the Hartford
The Hartford offers quotes for several types of business insurance, including general liability, workers’ compensation, professional liability, commercial property, commercial auto, and cyber insurance. Their online application walks you through the basic coverage you might need and what you might want to add to your policy before giving you your price.
Next Insurance
Moving to number two, Next Insurance is dedicated entirely to small business coverage, with policies for dozens of business sectors, from financial services to retail. They offer 11 types of coverage, including general liability, workers’ comp, and liquor liability, and you can get a free quote online. Next Insurance is also A+ rated by the Better Business Bureau, according to the company. You select the industry that fits your business, whether that’s construction, food and beverage, retail, e-commerce, office, professional services, cleaning, or something else, along with the state your business is in.
Industries and Benefits Covered by Next Insurance
With 11 types of coverage available, most industries should be able to find a fit through Next Insurance, including self-employed workers, sole proprietors, and LLCs. Coverage can help with unexpected costs, faster claims resolution, and financial support after business accidents or mistakes. If your industry carries a bit more liability or risk, it’s worth getting a quote to see where you stand.
Hiscox
At number three, Hiscox offers online quotes, and you can buy a policy in minutes, then file claims online, by phone, or by mail. They also offer online policy management and can customize coverage for small, large, or home-based businesses, with specialists across a wide range of industries and more than a century in business. Hiscox describes itself as one of America’s top-rated small business insurance providers, and quotes are based on your business zip code.
Hiscox Coverage Types
The Hiscox coverage includes general liability, professional liability, and E&O policies, along with business owners policies, cyber security, workers’ comp, short-term liability, medical malpractice, and other options like umbrella, auto, and directors and officers coverage. Liability coverage can reportedly run up to a million dollars, with cyber security coverage around $250,000, depending on the policy. Industries that might make sense for this kind of coverage include personal trainers, handymen, landscapers, and beauty professionals, among many others.
Simply Business
Rounding out the list at number four, Simply Business lets you compare free quotes from trusted insurers, with business insurance starting as low as $20 a month, according to the company. They say more than a million business owners worldwide have used their service, and you can get price estimates in just three steps, comparing free quotes online 24/7 with no pressure and no obligation. Coverage includes general and professional liability, workers’ comp, business owners policies, and more.
Industries and Carriers With Simply Business
Simply Business covers around 400 different types of businesses, from handypeople and housekeepers to carpenters, janitorial services, e-commerce, business consultants, and general contractors, offering business owners policies, liability, workers’ comp, and other coverage depending on your industry. They work with a range of highly rated carriers, and which one makes sense for you will depend on your industry. Simply Business aims to make getting small business insurance estimates easy, with quotes starting low, though the exact starting price may vary depending on when you check.
Final Thoughts
Our top pick on this list is the Hartford, but each of these companies offers solid options depending on your business size, industry, and coverage needs. Compare the most current listings for your area, and you can get a quote today if you’re looking to save some money on small business insurance.
