Looking to get a quote on business insurance for your small business? Are you purchasing several different types of policies? CoverWallet might be a good fit.
WRITTEN & RESEARCHED BY
Lead Staff Writer
UPDATED
| Total Rating | 4.0 |
|---|---|
| Pricing | Good |
| Features | Good |
| Customer Service | Good |
| Reviews | Excellent |
Pricing
Varied but general liability starts at $39/monthTypes of insurance offered
30+Time to receive quote
1-2 daysTable of Contents
CoverWallet is an online platform that sells business insurance through its agency partners and helps keep policy information in one cloud-based location. A self-described “concierge” service, CoverWallet helps business owners understand what insurance they need, offers quotes, and provides a platform for businesses to manage their policies, claims, and payments all in one place.
CoverWallet’s online platform is easy to use and intuitive for all users. It’s designed for business owners and is great for comparison shopping. The service is ideal for busy business owners, or new business owners, who need a quick way to compare the best business insurance options for their company and manage the policies in a single location.
Note: CoverWallet itself is not an insurance company. Rather, it is a tech company with resources to help match small businesses with the insurance industry — it is a business insurance aggregator if you will. Its carrier companies are Liberty Mutual, CNA, AMTrust, Berkshire Hathaway, Progressive, Hiscox, Chubb, and others.
The cost of business insurance varies widely depending on all your business specifics.
CoverWallet makes comparison shopping and shopping for industry-specific insurance very easy and user-friendly. General liability coverage starts at $39/month for most businesses.
To receive a free quote from CoverWallet, business owners can select which type of business insurance policy they are looking for and will be asked to provide some basic business information, such as:
CoverWallet may ask for your social security number and federal tax ID numbers. Once you’ve provided this information, CoverWallet will send you a quote from compatible carriers, and an agent will reach out to you to go over the quotes. If CoverWallet did not receive enough business information to generate a quote, an agent will call you and ask for the necessary information. This process can take 1-2 business days.
If you’d like to skip the online portion entirely, you can call CoverWallet directly and speak to an agent on the phone to receive a quote as well.
CoverWallet helps small business owners control their insurance needs in one central location and matches businesses with insurance providers offering more than 30 different types of insurance. Here are some of the main types of business insurance offered by CoverWallet’s carriers:
Visit CoverWallet’s website for a comprehensive list of insurance types.
Here are some of the features the company offers:
Companies of all shapes and sizes with varying insurance needs could all use an interface like CoverWallet to assist with their insurance and compliance needs. CoverWallet is ideal for small business owners who want to save money by comparing insurance policies from multiple carriers. Larger businesses, or small businesses with multiple policies, can also benefit from having all of their insurance information centrally located on the CoverWallet platform. You can add multiple users to your online CoverWallet account if needed.
There are many opportunities to connect with CoverWallet employees. At various sections of the website, you are directed to speak to real representatives either through email, phone, or chat. The chat feature enables users to talk to people during the company’s hours (chats sent after 6 PM EST will be answered the next business day). One of the helpful features is the ability to schedule a time for a CoverWallet representative to call you back if you are not able to talk to someone on the phone at that moment. Users appreciate the support resources available, but there are some complaints about slow response times and poor support communication.
As with all businesses, reviews run the gamut. It also may be hard to differentiate between negative experiences with CoverWallet versus negative experiences with their insurance partners. Sometimes refunds are slow.
Many CoverWallet reviews end up being about individual insurance carriers rather than about CoverWallet as a company. For CoverWallet specifically, according to the consumer website eKomi, out of 77 total reviews, the company receives 4.7 out of 5 stars. The biggest complaints were the following:
The Better Business Bureau gives CoverWallet an A- rating on its website. The positive reviews for CoverWallet are in the majority, with most people experiencing a seamless insurance experience. The biggest customer praise says:
If you are a small business owner who needs to insure yourself and your employees quickly — and you have no idea where to start — CoverWallet is a great fit.
The company is ideal for business owners who want to compare various insurance policies to get the best deal and want a single location to manage all of their policies and insurance information. Because of the company’s many support resources, using CoverWallet is easy no matter what level of knowledge you have regarding business insurance.
There are some complaints from users about slow response times as well as complaints about specific insurance providers. Additionally, the free “instant” quote isn’t always instant and can take up to 1-2 days to be completed. Despite these drawbacks, overall customer reviews rank CoverWallet favorably and highlight the easy interface as a major bonus.
Research what types of insurance you might need and then add CoverWallet to your list of places to check for comparison costs and quotes when you are ready to start the insurance buying process.
The Merchant Maverick Seal of Approval 🏆
CoverWallet |
|---|
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see CoverWallet for yourself.
The Merchant Maverick Seal of Approval 🏆
CoverWallet |
|---|
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see CoverWallet for yourself.
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Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
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Our team of experts spends hours on every review so that we can find the best companies to recommend to our readers. CoverWallet made the cut.
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