Best Small Business Insurance Companies

The Hartford stands out by offering insight into its pricing online. A business owner’s policy (BOP), for example, starts at $261/month, and general liability starts at around $88/month. Those numbers are helpful in setting expectations as long as you’re aware that your individual coverage may come with a slightly different price tag.

Screenshot of The Hartford webpage captured 3/7/2023

You can request a personalized quote from The Hartford online in a process that shouldn’t take more than 10 minutes. You should receive a quote on the same day. The Hartford representatives are also available by phone.

In addition to insurance coverage, The Hartford offers unique tools to small businesses.

• Risk Engineering: The Hartford can help you analyze risks your workers might face on the job and help you build a custom safety plan.
• Simplified Claims: The Hartford Productivity Advantage is a unique claims system designed to simplify the process of filing a claim. It includes separate options for employers and employees to use in situations requiring disability leave.
• Specialty Coverage: The Hartford’s business owner’s policy (BOP) includes business property and liability insurance. You can also add coverage for workers’ compensation, business income interruption, flood insurance, cyber, home-based businesses, multi-national, and more.

You can file a claim with The Hartford around the clock, online, or on the phone. Overall, The Hartford receives positive reviews regarding claims from customers.

Live support is available by phone during normal business hours, Monday to Friday. Support is also available via email and self-help options.

The Hartford is rated 10th in the nation for overall customer satisfaction among small business insurance companies. The company has an A- credit rating from AM Best.

CoverWallet works with 7+ insurance companies and makes it easy for customers to comparison shop, even if you’re looking for industry-specific coverage, which earns it a solid grade in our ratings metric

Screenshot of CoverWallet webpage, captured 3/8/2023

CoverWallet can help most businesses find general liability coverage starting at $39/month. And CoverWallet does not charge added broker fees, so what you see is what you pay.

One of CoverWallet’s best features is that it allows users to control their business insurance needs from one central location. Take a look at some of the features CoverWallet offers:

• My CoverWallet Dashboard: CoverWallet clients gain access to an interface that lets them view all their policies, print certificates, and submit proof of compliance. You will be able to file claims and make payments, too.
• Claims Support: You can file claims directly from your My CoverWallet dashboard. CoverWallet provides assistance in the claims process if you need it.
• Specialized Coverage: CoverWallet partners provide a nice range of coverage, including a business owner’s policy (BOP), general liability, commercial property, and commercial automobile.

You can also purchase umbrella coverage and some specialized types of insurance for liquor liability, directors & officers, medical malpractice, cyber liability, and inland marine.

You can connect with a CoverWallet representative via email, phone, and chat. You can also schedule a callback for later. If you have a claim to file, you can do so online.

Many users say CoverWallet’s user interface is easy to use and a highlight of doing business with this insurance broker and that is reflected in our scores.

Like many insurance providers, Nationwide offers customized price quotes, which you can request online or over the phone. Unlike other insurers, however, Nationwide does not provide a range or any information about typical costs. You’ll have to request a personal quote to get pricing information, which we ding them for in our ratings.

If you start your request online, you may need to schedule a phone call to complete the process. Quotes are usually provided within 30 minutes.

Screenshot of Nationwide Insurance webpage captured 2/1/2023

We rate Nationwide highly for its strong online features. Here’s what you’ll find:

• Online Access: Nationwide offers customers strong online account management features. You can log on through a secure portal to view or pay your bill. You can also start or monitor a claim online. Nationwide encourages customers to report claims online immediately.
• Education Tools: You’ll find resources to help you manage your taxes, cyber security, hiring, payroll, and workplace safety.
• Loss Control Planning: Use Nationwide’s tools and resources, including personal assistance from a loss control services team, to review your business operations and procedures. This is a strong feature that can help you avoid future losses.
• Business Banking: Nationwide partners with Axos Bank to make available special offers on business banking services.
• Specialty Coverage: In addition to a business owner’s policy (BOP) that combines liability, commercial property, business income, and equipment breakdown coverage, you can customize your Nationwide coverage with additional commercial coverage.

For example, you can add coverage for small business workers’ compensation, cyber liability insurance, Errors and Omissions (E&O)/Professional Liability, umbrella, inland marine, builder’s risk, or accounts receivable.

Specialized packages are available to categories of business that include agribusiness, breweries, churches, food processing, senior living, and more.

Nationwide also offers specialty products, including fidelity and surety bonds, group insurance bonds, key person benefits, and retirement plans.

Nationwide delivers when something goes wrong, and you need to file a claim. With 5,000+ claims service workers in support centers that are open 24/7, you’ll be able to get the help you need, whenever you need it.

Notably, Nationwide is ranked third in the nation for small business insurance customer satisfaction. And Nationwide is rated A+ in terms of its financial strength.

Nationwide customers work directly with an agent. Support is available by email as well.

Like most insurance providers, NEXT offers personalized quotes. Unlike many competitors, NEXT does it instantly.

I entered some very basic information about my business (location, number of employees, and so on) and received the recommendation to purchase a business owner’s policy (BOP). I was invited to apply online, with an estimated time investment of just four minutes.

Screenshot of NEXT Insurance webpage captured 3/7/2023

To receive my quote, I needed only to enter my contact information and my business name and address. Simple!

Although you’ll need to request your own quote to get pricing information, NEXT says that about half of its customers pay less than $25/month for general liability insurance.

In keeping with its fast and easy approach to business insurance, NEXT offers the basics and not a lot else. This is not the insurance company for a small business with complex needs. Here’s what NEXT Insurance can deliver:

Instant Online Quotes: There’s very little waiting; just type in some basic information about your business, and you get suggestions about the types of coverage you need and then a quote via text or email.

Basic Business Insurance Policies: You can purchase seven types of basic small business insurance from NEXT: a business owner’s policy (BOP), general liability, workers’ compensation, professional liability (E&O), commercial auto, commercial property, and a tools and equipment upgrade. NEXT also offers some specialized coverage, including liquor liability, product liability, and hired and non-owned auto insurance.

“Bundle” Discounts: When you purchase two or more policies from NEXT, you’ll receive a 10% discount on the price.

Mobile App: Download NEXT’s mobile app, and you can print out your certificate of insurance, update coverage, and submit and manage claims on the go.

You can connect with live, US-based insurance representatives via chat on weekdays during normal working hours. The mobile app and website are always available for filing claims, updating your information, and many other simple functions.

NEXT Insurance is accredited with the Better Business Bureau but is not rated there. The company has an A- (Excellent) credit rating from AM Best.

Customer reviews posted online include complaints about policy cancellations, rate increases, and so on that seem typical for the industry but do not raise red flags. Many customers state that NEXT is easy to use, basic small business insurance — and we agree.

You can get a quick quote from Hiscox online or, if you prefer, phone a licensed agent on weekdays. Start the quote process by entering your ZIP Code and some basic business information. The company says you can be insured within 10 minutes.

Hiscox offers some basic price information on its website. For example, while the price of a business owner’s policy (BOP) from Hiscox will depend on factors such as your deductible, your location, and your business size, Hiscox posts an example that provides a $1 million general liability policy costing $41.67/month.

Hiscox offers almost instant online quotes, and that speed is one of the features that make this insurance company a good choice for independent contractors and freelancers. (In a first for us, this small business insurance company even courts “mompreneurs.”) Here are a few of the features we think make Hiscox one of the best small business insurance options:

• Quick Quotes & Coverage: Once you decide to get business insurance, you don’t want to wait. Hiscox lets you apply online, delivers a quote within minutes, and covers you immediately.
• Small Business Resources: Sign up for Hiscox’s informative newsletter or browse the company’s library of articles online. You can even subscribe to the Hiscox podcast, called “Side Hustle to Small Business,” available via Apple, Spotify, and Google.
• Monthly Payments: In a budget-friendly move, Hiscox allows its customers to make monthly payments on their policies with no added fees.
• Referrals Program: Share a link with friends, and you’ll be entered into a monthly prize drawing, with 10 Amazon.com gift cards worth $50 available. You’ll earn one entry for each referral email and five entries for every social media share (Twitter and Facebook). You can earn up to 25 entries each month.
• Basic Business Insurance: You can get a BOP from Hiscox that offers general liability coverage and third-party protection against bodily injury, property damage, business equipment, and more. You can customize this BOP with fire and business interruption, electronic data loss coverage, hired or non-owned vehicle liability insurance, terrorism, and commercial crime insurance.

You can also purchase separate coverage for general liability, professional liability, errors and omissions (E&O), cyber security, workers’ compensation, directors and officers, umbrella, and employment practices liability.

Hiscox specifically mentions IT/technology; contractors; health, beauty, and wellbeing; architects and engineering; real estate; consulting, marketing; fitness; health; and home services as types of businesses their insurance policies are designed for. Different business types are supported, including LLCs, sole proprietors, home businesses, and contractors.

The Hiscox online claims center is available 24/7. You can also start your claim on the phone every weekday or by mail. Once your claim is received, you’ll be assigned to a claims representative who will walk you through the process.

Hiscox has offices around the US and offers centralized phone support on weekdays from 7 AM to 10 PM ET.

AM Best awards Hiscox a credit rating of A (Excellent).

You can start your quote from Chubb small business insurance online. The first question you’ll be asked is about your current or projected annual gross revenue, with one option for businesses at or below $2 million and another for those over $2 million.

Screenshot of Chubb Insurance webpage, captured 3/8/2023

Larger businesses will be asked to select the region your business is located in. Narrow it further by choosing your state, and Chubb will provide a list of partners in your area, with websites, physical and email addresses, and phone numbers listed.

Smaller businesses can enter basic business information and select the types of coverage they’d like to purchase.

Chubb Insurance includes some tools and features that will make managing your insurance easy. Here are some examples:

• Client Center: Log in through a secure portal to report a claim, pay your bill, or access your policy documentation.
• Business Insights & Resources: Chubb’s website contains articles on topics such as risk management, types of specialized insurance, and how to respond to catastrophes such as wildfires, floods, and hurricanes.
• Types Of Coverage: In addition to a business owner’s policy (BOP) that combines broad coverage for business property and liability, Chubb offers special coverage such as workers’ compensation, management and professional liability, and cyber enterprise risk management.

Chubb also offers a comprehensive foreign package for small businesses that do business or travel overseas. This includes executive assistance services such as emergency medical and political evacuation, lost document assistance, and concierge services.

Chubb was rated second in the nation for customer satisfaction, according to a 2022 J.D. Power study. The company has an AM Best Financial Strength Rating of A++ (Superior).

Customer support is available through the online portal, by email, via an online contact form, or by phone.

Claims can be reported online or by phone. You can estimate damage, file a claim, and upload documents from a computer, tablet, or any mobile device. Chubb maintains a “Catastrophe Center” filled with resources to help clients experiencing natural disasters. Trained claim representatives guide Chubb clients through the claims process, and a multinational claim unit coordinates claims around the globe.

Travelers does not publish pricing information, which is reflected in our ratings system. To receive a personal quote for business insurance, you’ll need to connect with an agent in your area.

From the Travelers website, you can enter your ZIP Code to see a list of options near you. Some results will include phone numbers only, while others will offer online contact information.

You can do a lot online to manage your Travelers small business insurance account, including paying your bills, monitoring your account, and filing and tracking claims. You’ll also be able to access features like these:

• Education Resources: Look for general small business tips as well as articles aimed at insurance topics such as loss prevention, facilities management, cybersecurity, and more.
• Risk Control: You can schedule onsite, online, and on-demand risk control planning. There’s also a secure website with over 1,000 risk-management resources, including industry-specific guides, articles, and self-assessments.
• You can also schedule an appointment for Travelers’ Risk Management Information Services (RMIS). Dedicated RMIS professionals will help you monitor and analyze your risks.
• Specialized Coverage: In addition to a business owner’s policy (BOP) that combines business property and liability insurance, Travelers offers a broad range of insurance products. This includes environmental liability, inland and ocean marine, boiler and machinery, cyber, and excess casualty, among others.

Travelers also issues surety bonds.

It doesn’t get any easier than securing a quote from Thimble. Visit Thimble’s website, enter your ZIP Code, answer a few questions, and you’ll be able to choose the types of coverage you need.

Screenshot of Thimble webpage, captured 4/18/2023

Choose from general business insurance or choose event-based insurance, then use the autofill prompts to answer questions about your business. Enter a little information about your business income, address, and so on, and you’ll receive an instant quote. Pay the first and last month’s premium, and you can start coverage immediately.

Thimble offers well-priced insurance coverage to mostly satisfied customers, according to user reviews. Here are some top features:

• Event-Based Insurance: Thimble lets its customers purchase special event insurance for special events such as tournaments, parties, concerts, banquets, funerals, and more. Standard event-based coverage includes third-party bodily injury, general liability, property damage, and liquor liability coverage. If your business involves selling or serving alcohol, you can add retail liquor liability coverage.
• Mobile App: Use Thimble’s mobile app with your Android or iOS device to purchase coverage by the hour, day, or week, and you’ll be able to access an instant certificate of insurance.
• Partner Perks: Thimble offers a “small business toolkit” that includes discounts and special offers on services aimed at small businesses. Examples include a free trial of Rocket Lawyer and a QuickBooks discount.
• Insurance Glossary: Let’s face it, insurance can be confusing for a small business owner to navigate. And it’s hard to know if you’re getting the right coverage and terms if you don’t understand the conversation around business insurance. Thimble helps you out by providing an online glossary of common insurance terminology.
• Additional Policies: In addition to a business owner’s policy and event coverage, Thimble offers E&O, commercial property, general liability, workers comp, cyber insurance, and business equipment coverage.

Customers give Thimble high marks for its service and support options. Although you can’t access telephone support, you will find options for email, support tickets, live chat, and more. Thimble has videos and tutorials to help you out, too.

As far as claims, Thimble again garners good reviews from customers and outside reviewers. Thimble is fiscally sound, and customers say the company provides good value for the money. Thimble’s flexible, easy-to-cancel coverage especially earns high marks.