Best Coverage Options for Business Insurance

Launching and operating a business can be one of the riskiest endeavors you ever undertake, yet having adequate business insurance protection can safeguard it against financial ruin.

Nationwide offers an assortment of policy solutions, such as its Business Owner’s Policy (BOP), which combines property and liability coverage in one package. Furthermore, its mobile app facilitates quotes and claims management.

Nationwide

Nationwide is an esteemed Fortune 100 company and offers an array of insurance products for small business. These include business owner’s policy, commercial property insurance and general liability. Furthermore, they have more specialized policies such as data breach protection and workers’ compensation coverage. If you’re still uncertain which policy best meets the needs of your organization, get an online or in-person quote through Nationwide; most insurers use questions during this process in order to suggest other forms of coverage based on what answers they receive from potential policyholders.

Allstate, biBERK and Farmers are three top providers for business insurance. Both offer online quotes in most states; both provide business owners’ policies (BOPs), which combine general liability and commercial property coverage into one policy; both also offer discounts when you bundle policies together and a usage-based auto insurance program. Finally, The Hartford is another longstanding provider; offering BOPs tailored for over 100 professions as well as additional coverages such as workers’ compensation and commercial auto.

Next Insurance

Next Insurance was founded in 2016 to offer affordable and customizable business policies to small businesses at an affordable cost. Their user-friendly platform makes Next an attractive option, and the company boasts of having assisted over 420,000 companies, despite only being active for two years compared with competitors who have been around much longer.

Next’s online application process features AI to walk you through the underwriting process and customize your policy, offering various coverage types like general liability, professional liability, commercial auto insurance, workers’ compensation and tools and equipment insurance. In addition, they also offer business income insurance that covers your revenue or assets should damage occur; this can either be added as part of a BOP package or purchased as an independent product.

Next Insurance stands out as an attractive choice for small businesses because of its A- rating from AM Best and low complaint index – both indicators that show it can pay claims without breaking the bank or incurring cancellation fees. Furthermore, no credit score or cancellation fees apply when applying.

Chubb

Chubb offers comprehensive business insurance products, such as property, workers’ compensation, professional liability, directors and officers liability, umbrella and cyber coverage as well as personal coverage products tailored to high net worth individuals such as home, auto, valuables and yacht policies.

Chubb offers small business offerings such as a business owner’s policy that provides liability and property coverage to firms with revenues of less than $30 million in revenue, industry-specific policies for clean tech firms, cultural institutions and hospitality, commercial package policies as well as stand-in property/business interruption coverage policies for small companies.

Employees at this company enjoy access to a medical plan with customizable deductibles and co-payments to fit a range of budgets, network access for physicians and hospitals that saves money while streamlining claims processing, plus other employee perks such as life and AD&D insurance, financial wellness programs and lifelong learning initiatives.

Hiscox

Hiscox provides comprehensive insurance solutions to small businesses, with customers praising its simple application process and expert guidance from its advisors. You can get a quote online or call between 7 a.m. and 10 p.m. EST to speak with an agent directly.

Hiscox business insurance provides general liability and property damage coverage that protects businesses against claims for bodily injury or property damage, and also offers business owner’s policy (BOP), which combines both general liability and property insurance coverages. Furthermore, Hiscox provides professional liability coverage against allegations of errors or omissions in services or advice you provide; also available is workers’ compensation to cover employee injuries or illnesses.

Hiscox provides directors and officers insurance, employment practices liability insurance and cyber liability coverage through partnerships with insurance marketplaces like Thimble. Their policies can be easily tailored to fit individual businesses’ specific needs; plus their affordable policies make purchasing directly or through brokers highly competitive.

CoverWallet

Starting and operating your own business can be one of the riskiest endeavors possible, but by purchasing adequate business insurance you can reduce those risks. Selecting coverage will safeguard against financial disaster and protect your hard-earned investment.

CoverWallet is an online broker dedicated to helping small businesses secure business insurance policies. Offering free assessment of your needs, they connect you with providers offering relevant policies. Furthermore, getting quotes quickly and conveniently on its website or email.

This company provides various types of business insurance policies, such as general liability, workers’ compensation, commercial property, professional liability, commercial auto and umbrella policies. Furthermore, they have packages tailored specifically for fitness professionals and Amazon sellers.

Customer service at this company is excellent and they offer many resources for small businesses to understand their options. With an A+ Better Business Bureau rating and solid AM Best rating, they provide affordable policy options at low costs; online reviews tend to be positive; however some customers have reported poor service or policy cancellation.

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