What Are Some Good Small Business Insurance Companies?

Business insurance protects your organization and its assets from property damage, injuries, litigation, and other liabilities resulting from your job.

Business insurance carriers should make it simple to obtain the coverage you require and provide a seamless claims process, so you can run your business. To identify which insurers do this most effectively, we analyzed their financial stability, complaint records, digital capabilities, and customer support channels.

Hartford offers a vast selection of business insurance coverage for companies of all sizes. Hartford's business owner's policy for small-company owners can be tailored with coverages such as data breach insurance and professional liability insurance. You can purchase coverage from Hartford directly or through an independent agent.

Pros:

• State authorities received fewer general liability and commercial property insurance complaints than expected for that size company.
• The majority of business owners may obtain an online estimate in around 10 minutes.
• The website's level of detail facilitates comprehension of each policy's coverage.

Cons:

• No coverage is offered in Alaska, Hawaii, or New Jersey.

You can obtain coverage by obtaining a quote online and then speaking with an agent. Hartford can also sell insurance through independent agents.

Best For Firms That Need Coverage Immediately.

Next offers all the business insurance coverage that most entrepreneurs require online. You can purchase multiple insurances in a single transaction using Next's highly specialized industry-tailored packages. Next also provides a digital certificate of insurance, making it simple to provide proof of insurance to a client or landlord upon request.

Pros:

• Received slightly fewer complaints regarding general liability insurance and commercial property insurance than expected for that size company.
• Up to a 10% discount for purchasing multiple policies.
• Provides a digital insurance certificate that may be shared with anyone who needs it.

Cons:

• Business owners will need to go elsewhere for specialty coverages, such as director's and officer's insurance.

How to obtain protection: Online insurance quotes and purchases are possible. Next, insurance advisors are available via live chat should you require assistance.

Best Business Owner's Policy: Chubb

Why we enjoy it: Chubb's business owner's policy includes coverage for accounts receivable, business interruption insurance, and extra spending coverage, which are not generally included in BOPs. And while the company has been in business for more than a century, its web experience for small businesses offers modern elements, such as a bot that helps you select coverage.

Pros:

• State authorities received fewer general liability and commercial property insurance complaints than expected for a company of size.
• According to the Insurance Information Institute, in 2021, Chubb held the highest proportion of the U.S. business insurance market.
• The automated "coverage companion" facilitates internet purchasing for small enterprises.

Cons:

• Online shopping is only available to enterprises with yearly revenues of less than $1 million.

How to obtain protection: Businesses with an annual revenue of less than $1 million can purchase a Chubb BOP online. You will need to work with an independent insurance agent if your company is more substantial.

Regularly Reevaluate Your Business's Insurance Requirements

Your insurance needs will also increase as your small business adds staff, locations, or products. Check your insurance policies annually to ensure they continue to give the best coverage.