The 6 Best Ecommerce Insurance Companies in 2022
Nathan Weller is an Insurance Expert focusing on insurance for small business. He has 15 years experience in insurance operations, FNOL, and claims handling.
Small business owners who are primarily online, such as a seller on Amazon or Etsy, need ecommerce insurance to protect their business. We used our evaluation system focusing on financial stability, policies offered, customer satisfaction, and convenience to compare more than 20 providers to find the six best companies offering ecommerce insurance:
- The Hartford: Best overall
- Hiscox: Best for web designers
- Next Insurance: Best for Amazon vendors
- Acuity: Best for brick-and-mortar businesses
- Thimble: Best for handmade crafters
- CoverWallet: Best for comparison quotes
Top Ecommerce Providers Compared
Company | Online Quotes | Accessibility | Instant Certificate of Insurance | Financial Rating |
|---|---|---|---|---|
 | Yes | 24/7 Availability | Yes | A+ Superior |
 | Yes | 24/7 Availability | No, within 1 business day | A Excellent |
 | Yes | No, 8 a.m. - 5 p.m. Central time | Yes | A Excellent |
 | No, agent only | 24/7 availability | Unclear | A+ Superior |
 | Yes | Monday to Friday, 9 a.m. to 6 p.m. Eastern time | Yes | A Excellent |
 | Yes | Monday to Friday, 8 a.m. to 8 p.m. ET; Saturday, 9:30 a.m. to 1:30 p.m. ET | Yes | A Excellent |
The Hartford: Best Overall for Ecommerce
The Hartford: Best Overall for Ecommerce
Overall Score: 4.25
OUT OF 5
What We Like
- 24/7 availability
- Financial strength
- Experienced provider
- Cyber risk assistance
What's Missing
- May have to call to finish quote
Deciding Factors
- Independent agents: Available to advise you on your policy
- In-house claims: Claims are handled directly by The Hartford
- Responsive: Customer service to policy questions
- Online portal: Instant access to policy documents
The Hartford had the highest score in our evaluation of 4.25 out of 5 due to its customer service, financial strength, convenience, and the policies it offers. For your ecommerce insurance needs, The Hartford is the best overall provider.
Cost & Coverage
A business owner’s policy (BOP) containing general liability, $15,000 in protection for your property, and data breach insurance costs $687 annually with The Hartford.
The liability portion provides a limit of $1 million per occurrence and also protects against data breaches your business may face. The Hartford offers specialized cyber resources for online business through The Hartford Cyber Center.
Customer Satisfaction & Convenience
The Hartford has excellent customer service with 24/7 access to claims, customer service, and online policy management. Complaints filed with the National Association of Insurance Commissioners (NAIC) are lower than the national average.
You can get a quote online for most coverages and conveniently purchase the policy in a few minutes. The process is quick and straightforward.
Financial Rating
With more than 200 years of experience, The Hartford has the financial strength you would expect from a successful insurance company. AM Best has rated The Hartford Superior with an A+.
Or call (888) 219-3051
Hiscox: Best for Web Designers
Hiscox
Overall Score: 4.00
OUT OF 5
What We Like
- Policies offered
- Resources for small businesses
- Easy to understand language
- In-house claims
What's Missing
- One business day delay on certificate of insurance (COI) requests
Deciding Factors
- 24/7 availability: Claims services are there for you all the time
- Independent agents: Available to advise you on your policy
- Account portal: Online access to manage your policy
- Responsive: Customer service to help with policy questions
Hiscox is a global insurer of small businesses. With more than 500,000 small businesses insured, Hiscox scored 4 out of 5 because of its excellence in customer service and the convenience it offers to the policyholder.
Cost & Coverage
A general liability policy with a $2 million limit costs $77.10 monthly. To add cybersecurity to the policy costs an additional $250 total.
Its web designer insurance policy offers general liability, professional liability, and commercial property coverage.
Customer Satisfaction & Convenience
Beginning with an underwriter working at Lloyd’s of London in 1901, Hiscox has the history, experience, and global reputation for being a carrier you can count on for your ecommerce business.
Hiscox provides you with a convenient experience. There is an online portal for managing your policy and requesting a COI. Their claims team is available 24/7 to help you if something goes wrong.
Customers are satisfied with their experience, with lower than the national average on complaints.
Financial Rating
AM Best, the only financial rating company for insurers, gives Hiscox an A Excellent rating.
Next Insurance: Best for Amazon Vendors
Next Insurance
Overall Score: 3.75
OUT OF 5
What We Like
- Easy-to-use website
- Ecommerce policy packages
- Online policy purchase
- 24/7 access to policy
What's Missing
- Weekday-only service center
Deciding Factors
- App: User-friendly app for your policy and claim needs
- Nationwide: Available in 48 states
- Tech forward: Emphasis on the app and online experience
- Independent agents: Available to advise you on your policy
Next Insurance is a newer insurtech company. It scored 3.75 out of 5 in our rubric because of its great convenience and the policies it offers.
Cost & Coverage
You can save up to 30% on ecommerce policies with Next insurance. A BOP bundled with general liability costs $59.59 a month. This policy provides product liability coverage and $10,000 in coverage for equipment and property.
For ecommerce businesses, Next offers three policy packages: Basic, Pro, and Pro Plus. Pro, its most popular offering, meets the requirements for Amazon seller insurance. Next insurance is the best provider of ecommerce insurance for vendors who sell on Amazon.
Customer Satisfaction & Convenience
Next offers a great app that functions like a 24/7 service center. You can make changes to your policy, pay your premium, request a COI, and file claims through the app.
Next also offers insurance for more than 1,300 different professions and industries.
Financial Rating
Despite being founded in 2016, AM Best has rated Next an A- Excellent. AM Best has determined Next balance sheet is very strong.
Acuity Insurance: Best for Brick-and-Mortar Stores
Acuity Insurance
Overall Score: 3.75
OUT OF 5
What We Like
- Financial strength
- CyberSuite policy package
- Risk management services
- Availability
What's Missing
- Unable to receive online quotes
- Unclear process for obtaining a COI
Deciding Factors
- Independent agents: Available to advise you on your policy
- Low complaints: Lowest complaints of all companies reviewed
- Tailored policies: A large number of specialty coverage available
- Account portal: Manage your policy documents online
Acuity scored 3.75 out of 5 because of its convenience and excellent customer service. Because of how its policy is structured, Acuity is the best ecommerce insurance for a brick-and-mortar retailer who sells products online.
Cost & Coverage
Unfortunately, you need to speak with an agent to obtain a quote.
Acuity offers what it calls “Bis-Pak,” which is a specialized policy designed for retailers. It combines property and liability coverage with cyber liability and data breach protection.
It also offers a cybersuite with risk management services through eRiskHub®. Among other benefits, this service has a news center, so you’re up to date on cybersecurity.
Customer Satisfaction & Convenience
Call, file online, or conveniently fax in your claim. Questions about your policy can be answered through its service center or online by chatting with a representative.
Acuity also had the lowest complaint average.
Financial Rating
Acuity is in a strong financial position. AM Best rated Acuity Superior A+ with a stable financial outlook.
Thimble Insurance: Best for Handmade Crafters
Thimble Insurance
Overall Score: 3.50
OUT OF 5
What We Like
- COI available within 60 seconds
- Quick quotes online
- Financial strength
- Policy purchase through app
What's Missing
- Weekday only services
Deciding Factors
- App: For managing your policy
- Independent agents: Available to advise you on your policy
- Hourly coverage: Available
- Nationwide: Available in all 50 states
Thimble scored 3.5 out of 5 in our evaluation because of its convenience and custom policies. Because it specializes in insuring small businesses that craft handmade items like soap, jewelry, and apparel, Thimble is the best ecommerce provider for crafters who sell its items on platforms like Etsy.
Cost & Coverage
A general liability policy with professional liability costs $67.11 a month. Thimble offers policies by the job, month, year, and even hourly coverage.
In terms of coverage, its crafter’s insurance policy is for small businesses with a sales cap of $500,000. It also offers $5,000 in coverage for your equipment.
Customer Satisfaction & Convenience
Convenience is where Thimble shines with online quoting, purchasing, and maintenance of your policy. Its app functions like a 24/7 call center, and there’s no cap or added cost for requesting COIs.
Both the app and website are easy to navigate and user-friendly.
Financial Rating
Thimble offers policies underwritten by Markel Insurance and National Specialty Insurance Company. Markel is rated A by AM Best as is National Specialty.
CoverWallet: Best for Comparison Quotes
CoverWallet
Overall Score: 3.75
OUT OF 5
What We Like
- Quick, comparison quotes
- Policy financing plan
- User-friendly website
- Instant COI
What's Missing
- Not available 7 days a week
Deciding Factors
- Online quotes: Quickly available
- Dedicated agent: Available to help manage your policy
- Support services: Available for your policy needs
- Nationwide: Available in 48 states
CoverWallet scored 3.75 out of 5 in our evaluation because of its excellent convenience and the policies it offers. CoverWallet is an online broker which allows you to shop for an ecommerce policy and pick the one with the best price and correct coverage for you. It’s also our best overall insurance broker in 2022.
Cost & Coverage
An ecommerce general liability policy costs $29.87 a month. That quote from CoverWallet was for a policy underwritten by Chubb.
Its ecommerce policy provided $1 million in liability per occurrence and hired and nonowned auto coverage.
Customer Satisfaction and Convenience
Obtaining a policy is easy with CoverWallet. Quotes are provided quickly after answering questions specific to your industry.
If you purchase insurance CoverWallet will then create an account for you where you can manage your policy.
Your assigned account manager is there to assist you, as are other representatives, six days a week.
Financial Rating
CoverWallet was purchased in 2020 by Aon. Aon has an excellent rating of A by AM Best.
Frequently Asked Questions (FAQs)
What Is Ecommerce Business Insurance?
Ecommerce insurance is insurance that covers small business owners who sell products online. While most of the policies are common, ecommerce often requires additional coverage, such as cyber liability or data breach, as well as products-completed operations coverage. Ecommerce insurance protects your assets and helps control costs when something goes wrong.
Who Needs Ecommerce Business Insurance?
Any small business owner selling products or services online should consider purchasing ecommerce insurance. Some ecommerce platforms, such as Amazon, require some vendors to buy ecommerce insurance. If you sell soap on Etsy, books on Amazon, or operate a clothing store that also ships products to customers across the country, then review your policy to see if you need ecommerce insurance.
How Much Does Insurance for an Online Business Cost?
When assessing risk for a business, insurers take many factors into account, such as industry, products sold, country of origin for the products, labeling, revenues, and claims history. So, premiums have a wide range and can vary from between $500 to $10,000.
Methodology: How We Evaluated
To determine which insurance companies would be the best for your ecommerce insurance, we utilized a proprietary evaluation system developed in-house. We reviewed over 20 insurance providers and have presented the six with the highest scores. In evaluating insurance companies, we have focused on the customer’s needs. We paid particular interest to convenience, financial ratings (AM Best), customer service, types of policies offered, and the overall experience as a policyholder for a specific provider. Most people only care about insurance when they need it, and we wanted to ensure that what we’re recommending is something that, should that moment come, you’ll feel comfortable with your purchase.
Bottom Line
Business owners who work in online retail know that time is money. We’ve saved you time by evaluating over 20 carriers to find the best providers for ecommerce insurance. The Hartford is the best overall for ecommerce insurance. Visit The Hartford today for a quote or call (888) 219-3051.
