10 Best Small Business Insurance Companies 2018

The best small business insurance companies offer standard policies, such as commercial general liability, and also a broad range of other insurance types that small business owners may need. Before narrowing our list down to the top 10, we reviewed dozens of providers and evaluated them on key qualities like coverage types, service and pricing.

Top 10 Small Business Insurance Companies

How We Evaluated the Best Business Insurance Companies

To evaluate the best small business insurance companies, we looked for providers that offer the standard types of insurance small business owners need, such as commercial general liability. We also evaluated for great coverage for a reasonable premium and access to a diverse range of other insurance types that can be customized in a business owners policy (BOP).

The criteria we used to evaluate the best small business insurance companies include:

• Specialization by industry or profession: The insurance company has prepackaged plans, conveniently categorized by industry or profession.
• Reputation: We reviewed the A.M. Best rating, when applicable. This rating from the widely respected United States-based rating agency assures that the provider has strong financial backing.
• Customer service: We studied trends in customer ratings and reviews.
• Nationwide presence: We only include providers that serve small business owners all across the U.S.
• Costs: We looked at premium rates, structure of pricing and what customers had to say about affordability.

Based on the above criteria, our number one choice as the best small business insurance company is The Hartford. All of our top 10 finalists share similar qualities, but The Hartford is a standout for its industry-leading customer care and highly rated claims service.

Best Overall Small Business Insurance: The Hartford

For the past 30 years, The Hartford has had a team of specialists in place to help better serve the unique insurance needs of small business owners. The efforts have paid off because now The Hartford receives high ratings from customers on quality service and claims support. The Hartford also has a broad selection of specialized insurance packages based on industry and profession.

Types of Coverage at The Hartford

The Hartford begins its basic coverage with the standard BOP, which includes general liability, commercial property insurance and business interruption insurance. These three coverage types cover the greatest risk exposures to most small businesses. Businesses that need more than basic coverage can choose from specialized insurance packages or customize a plan to fit their needs.

Specialized Insurance Packages

Like the other top providers that specialize in small business insurance, The Hartford breaks down its specialized packages by industry type first, and then by specific profession. The small business owner looking for information or a quote online can follow links and prompts easily on The Hartford’s website.

Industries The Hartford has specialized insurance packages for include:

• Arborists & landscaping
• Contractors & construction
• Finance & insurance
• Healthcare
• Manufacturing
• Professional services
• Real estate
• Restaurants
• Retail
• Technology
• Wholesalers & distributors

If you don’t see your industry or the grouping doesn’t lead to your specific profession, The Hartford can customize an insurance package that suits your needs.

The Hartford Insurance Costs

Like most insurance providers, The Hartford provides specific pricing information after getting a quote. This information is helpful because it can give small business owners an idea of how to cover their risk exposures.

Some of the factors that affect pricing at The Hartford include:

• Premises size & condition
• Business industry
• Number of employees
• Payroll size
• How and where you drive
• Type of vehicles you use
• Driving history
• Claims history

Some factors don’t impact pricing for certain small business owners, such as those who do not have employees or those who work out of their home.

The Hartford Ratings and Reviews

The Hartford has an A.M. Best rating of A and has the distinction of being recognized as a World’s Most Ethical Company by Ethisphere 10 times. As for customer reviews we researched, The Hartford receives four out of five stars.

What The Hartford is Missing

The Hartford does so many things right, it’s difficult to notice anything missing. Although they make the online application easy, one missing element is that there are no details on the cost of basic insurance packages, such as a simple BOP.

How to Apply for The Hartford Business Insurance

Applying for small business insurance with The Hartford can be done on their website by simply clicking on the Start Quote button and answering basic questions about your business. You may also search by industry and profession to get an initial idea of coverage before applying.

Visit The Hartford

Best Small Business Insurance for Cost: Next Insurance

Next Insurance is the leading digital insurance company for small businesses. They are reshaping the way small business insurance is delivered, enabling customers to buy and manage their insurance all online. Next Insurance also offers quick access to a certificate of liability insurance (COI), which is convenient when needing to prove you have insurance.

Next Insurance Types of Coverage

Next Insurance offers basic plans including the standard commercial general liability policy. They study the specific risk exposures of each business type and put together a package for small business owners that is, as its value proposition says, “simple, affordable and tailored to their specific needs.” Many of its basic plans start below $30 per month in premium.

Specialized Insurance Packages

Next Insurance has three different types of plans, which include Basic, Pro and Pro Plus. This simple categorization makes the application process easier for small business owners and allows for different tiers of coverage. For example, the Basic plan typically includes just general liability and the Pro and the Pro Plus plans include additional coverage, as needed.

There are more than 40 professions Next Insurance covers, including:

• Beauty & hair salon businesses
• Cleaning & janitorial services
• Carpentry, construction & contractors
• Fitness instructors & personal trainers
• Handyperson
• In-home daycare
• Landscaping and lawn care
• Painters Insurance
• Photographers
• Pilates & yoga instructors

After you choose your insurance category, you can select one of the three plan types: Basic, Pro or Pro Plus. These plans are already tailored for the profession but can be customized further, if necessary.

Next Insurance Costs

Pricing is where Next Insurance shines compared to its competition. Simplifying the process by covering the most prominent risk exposures enables its competitive costs. For example, the average cost of general liability insurance for a small janitorial services company ranges between $375 and $800, whereas the Basic plan for Next Insurance starts at $29 per month, which is less than $350 per year.

Unlike some of the larger insurance companies, Next Insurance offers flexible payment plans.

Next Insurance Ratings and Reviews

Next Insurance is a new insurance provider and is not yet rated by A.M. Best. However, its customer reviews are already trending high with ratings at 4.7 out 5.0. Most of the highest praise from customers are raves about the quick-and-easy application process and its low costs.

What Next Insurance is Missing

Next Insurance specializes in providing basic coverage at a competitive price for small business owners, especially sole proprietors working alone or businesses with just a few employees. This means that its coverage types are not an ideal fit for larger businesses with multiple employees and more complex risk exposures. Also, Next Insurance does not offer a BOP.

How to Apply for Next Insurance Business Coverage

One of Next Insurance’s best features is how easy they make it to buy online. They enable business owners to apply, receive a quote, and buy, all online within minutes. After finishing the application, applicants are shown three tailored coverage and pricing options. Upon purchase, you are immediately insured. You can also get a digital copy of a COI easily and share digital copies with anyone who needs to see it.

Visit Next Insurance

Best Small Business Insurance for Online Service: Insureon

Insureon is the best insurance provider for small businesses who want online access, in addition to broad, tailored coverage for below-average costs. Insureon is able to deliver quality commercial insurance by partnering with multiple carriers to bring the ideal coverage at the right price for its customers.

Types of Coverage at Insureon

Insureon is the best online insurance provider that offers multiple coverage types for small business owners. It builds insurance packages by studying the risk exposures of each industry type and then uses large, highly rated insurance carriers to write the policies. Insureon is a good choice for small business owners that want an online provider and need multiple insurance types.

Primary lines of insurance offered by Insureon include:

• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury
• Commercial property insurance: Covers assets owned by the business, such as building, equipment or inventory
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses
• Cyber liability insurance: Losses resulting from cyber attacks or data breaches

Specialized Insurance Packages

Insureon is able to provide specialized insurance coverage by partnering with multiple top insurance carriers, including Hiscox, Travelers, The Hartford, Liberty Mutual and Chubb. Its online search technology helps narrow dozens of top U.S. insurance companies down to one insurance policy that fits your unique business needs.

Like all of the best small business insurance companies, Insureon starts its primary coverage with a BOP, which allows for bundling multiple coverage types into one policy for broader protection while minimizing costs. The standard Insureon BOP includes general liability and property coverage. Each industry type and profession can customize the BOP to suit its needs.

The industry types Insureon covers number more than 30 and include:

• Accounting & finance
• Auto services & dealers
• Cleaning services
• Computer & information technology services
• Construction & contracting
• Healthcare
• Home-based businesses
• Lawn care
• Pet services
• Photography
• Real estate
• Restaurants
• Retail
• Salons & hair care

After you select your industry, the Insureon website suggests coverage types by profession. For example, if you selected lawn care, the Insureon search tool would list specific professions in that industry, such as general lawn care, landscape design and lawn irrigation.

Insureon Small Business Insurance Costs

Insureon does a good job of displaying average costs of insurance by business type, which makes the research for small business insurance easier. Insureon also uses its own customer base of more than 200,000 businesses to provide internal research and data for prospective customers to analyze.

For example, Insureon’s internal research shows that 53 percent of its small business customers pay $400 to $600 per year for general liability insurance and 21 percent pay less than $400. With useful cost information like this, new and prospective customers can see what other business owners are buying conveniently and get a price range for what to expect for their own costs.

Insureon’s Ratings and Reviews

Insureon has an A rating from A.M. Best, and its customer service reviews are trending between 4.0 and 4.75 out 5.0 possible

What Insureon is Missing

Insureon’s strength may be its only weakness. Because it doesn’t offer its own proprietary insurance products, it isn’t able to specialize its coverage types. However, Insureon makes up for this weakness by digging deeper into the insurance needs of the small business owner with data-driven analysis of its own clients’ needs and preferences.

How to Apply for Insureon Insurance Business Coverage

Insureon makes applying easy on their website, where a simple search tool with a drop-down menu enables you to select a business industry and a profession, then you complete information specific to your business. The application process generally takes 10 minutes or less to complete.

Visit Insureon

Best Small Business Insurance for Local Agents: State Farm

Large insurance companies can be advantageous for their sound financial backing and broad product offerings but not all of them have a large network of local agents. This is where State Farm stands out. State Farm has 70,000 employees and 19,000 agents all across the U.S. Since State Farm agents are also small business owners, which helps them understand your needs.

Types of Coverage at State Farm

State Farm offers the primary insurance lines small business owners need and, like all of our top business insurers, it offers the standard BOP, which allows the bundling of insurance types into one cost-effective package.

State Farms primary lines of coverage include:

• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury
• Commercial property insurance: Covers assets owned by the business, such as building, equipment or inventory
• Professional liability insurance (E&O): Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract
• Commercial auto insurance: Accidents involving vehicles used for business, including bodily injury liability, property damage liability, medical payments and more
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses

To help guide business owners into the appropriate coverage types, State Farm’s website categorizes businesses into four primary groups: Starting Up, Growing, Mature and Changing Ownership. This categorization enables the small business owner to see the appropriate coverage types to consider.

Specialized Insurance Packages

To see specialized insurance packages on State Farm’s website, business owners can select an industry type and follow prompts to get a list of appropriate coverage types. For example, if you select the Contractors and Home Services industry, you’d then see a list of over a dozen professions, such as Food Shops & Restaurants, Medical and Retail.

After selecting a profession, you then get a list of suggested coverage types and you are prompted to locate a State Farm agent in your ZIP code for personalized attention.

State Farm Insurance Costs

State Farm does not publish any pricing information on its website. However, small business owners can reduce costs by bundling coverage types in a BOP. Some coverage types that are often included in a BOP are general liability, commercial property insurance and business interruption insurance. If needed, other coverage types may be added.

State Farm Ratings and Reviews

State Farm receives the highest possible rating from A.M. Best, which is A++. As for reviews, four stars from customer rating services we reviewed. These reviews can receive a total of five stars.

What State Farm is Missing

State Farm does a good job of providing information about suggested coverage types for dozens of small business professions, but its website is lacking in specific details on pricing and custom packages. Instead of offering details, State Farm points new customers to contacting a local agent to get a quote.

How to Apply for State Farm Business Insurance

Applying for small business insurance with State Farm can begin either online or with an agent or broker. Its website guides new customers to find a local agent that can offer personalized assistance in applying and in obtaining appropriate coverage.

Visit State Farm

Best Small Business Insurance for Property Insurance: Nationwide

Types of Coverage at Nationwide

Nationwide specializes in property and casualty insurance, but it also offers a wide range of small business insurance coverage types as well as financial products and services, such as retirement planning and investing. Nationwide also has a broad network of local agents for those business owners who prefer personalized service near their place of work.

Here are the featured coverage and policy types offered by Nationwide:

• Commercial property insurance: Covers assets owned by the business, such as building, equipment or inventory
• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury
• Business interruption insurance: Covers loss of income due to a cease in operations because of a covered event, such as fire or flood
• E&O insurance: Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract
• Commercial auto insurance: Accidents involving vehicles used for business, including bodily injury liability, property damage liability, medical payments and more
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses
• Cyber liability insurance: Losses resulting from cyber attacks or data breaches
• Inland marine insurance: Covers materials in transit, such as your equipment, tools or goods to be delivered to customers

Specialized Insurance Packages

Nationwide starts with the standard BOP, which includes general liability, commercial property and business income coverage. Nationwide also simplifies choices for its customers by breaking down its specialized insurance packages into five primary groups, including Auto, Retail, Food, Service and Office.

Here are Nationwide’s specialized BOP packages categorized into primary groups, along with examples of business types covered:

• Auto: General service centers, body shops, glass repair shops, quick lube and muffler repair shops
• Retail: Electronics stores, bookstores, furniture stores and appliance stores
• Food: Delis, fast food, fine dining, ethnic cuisine and pizza parlors
• Service: Barbershops & salons, dry cleaners, funeral homes, pet grooming and print shops
• Office: Accountants, financial planning services, medical facilities and insurance agencies

Nationwide Small Business Insurance Costs

Nationwide’s small business insurance costs vary widely and are determined by several factors that it communicates on its website. Although getting a quote is the best way to know what your ultimate cost for insurance will be, you can begin to assess your insurance needs by looking at its cost factors.

Here are Nationwide’s primary factors affecting the cost of small business insurance:

• Any prior losses: Prior claims generally increase costs
• Annual sales and payroll: Higher revenue and payroll increase costs
• Number of employees: More employees increase the amount needed for workers’ compensation protection
• Square footage: More space translates to higher property insurance costs
• Details about products or services: Potential hazards to customers increases liability costs
• Commercial credit score: Keep scores high to reduce insurance premiums

Nationwide Ratings and Reviews

Nationwide has an A+ rating from A.M. Best. Its customer reviews are trending between 4.0 and 4.5 stars out of a possible 5.0.

What Nationwide is Missing

Nationwide offers specialized insurance coverage for numerous industries and professions as well as customizable coverage. However, it doesn’t have a home-based insurance package.

How to Apply for Nationwide Insurance

The best way to find out if Nationwide is right for you and your small business is to apply and get a quote. To apply, you can fill out an online application easily, or you can reach out directly to a representative from Nationwide’s website.

Visit Nationwide

Best Overall Small Businesses Insurance: Hiscox

Hiscox does many things well, such as providing a wide range of coverage types, specializing in a diverse set of industries and home businesses with competitive pricing. However, where Hiscox stands out most in its small business insurance offerings is its focus on insurance for home-based businesses.

Types of Coverage at Hiscox

Hiscox offers multiple coverage types that protect against risk exposures that various small businesses face. For example, most small business owners need commercial general liability insurance, which covers third-party bodily injury, property damage and related legal expenses. Hiscox also offers several other coverage types small business owners may need.

Here are the primary coverage and policy types offered by Hiscox:

• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury.
• E&O insurance: Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract.
• Commercial auto insurance: Accidents involving vehicles used for business, including bodily injury liability, property damage liability, medical payments and more.
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses.
• Cyber liability insurance: Losses resulting from cyber attacks or data breaches.

Specialized Insurance Packages

Hiscox covers a wide and diverse range of small business types, categorized by profession, which makes for a simple application process and protection that is complete and tailored. Hiscox also offers tailored insurance for home-based businesses.

Here are 10 of more than 30 professions for which Hiscox offers tailored packages:

• Architects & engineering
• Auto services
• Beauty
• Consultants & freelancers
• Contractors
• Fitness and health
• Technology & information technology
• Janitors
• Landscaping
• Retail

Hiscox covers many other business types and professions and can customize insurance coverage for niche businesses.

Hiscox Small Business Insurance Costs

Small business insurance costs vary based upon several variables including business type, business size and business location. Its commercial general liability policy averages about $30 for most small businesses. Hiscox also offers its BOP starting at just $42 per month.

Hiscox Ratings and Reviews

Hiscox has an A rating from A.M. Best and receives high praise from the customers with an average rating of 4.7 out of 5.0, coming from more than 10,000 reviews. Many of the positive reviews include comments about the quick-and-easy application process and outstanding customer service.

What Hiscox is Missing

Hiscox is a good choice of provider for almost any small business. However, one key product it’s missing is surety bonds. Although not an insurance type, surety bonds are needed for contract work, most commonly in the construction industry. Also, while covering 49 states, Hiscox does not serve Alaska.

How to Apply for Hiscox Insurance

A key feature of small business insurance providers is a simple application process. You can apply with Hiscox online anytime or reach out to a representative by visiting its website. To start the application process, you can simply choose an industry type on its site and answer questions on the form. The process takes only minutes to complete.

Visit Hiscox

Best Small Business Insurance for Specialized Coverage: Farmers Insurance

Farmers lnsurance distinguishes itself from many of the other large insurance carriers by specializing its coverage types to fit the needs of specific industries and professions. In fact, its website has a search tool that allows you to select your business industry, then choose among specific professions within the industry.

Types of Coverage at Farmers Insurance

Farmers offers the standard BOP for small business owners, in addition to the common coverage types purchased outside of a BOP, such as workers’ compensation, commercial auto insurance and umbrella insurance. However, its specialized coverage is where Farmers stands out.

Specialized Insurance Packages

If you want to customize your own coverage, you can begin with a BOP, which includes general liability and commercial property insurance, and add up to 20 specific coverage types that suit the needs of your business.

Here are some of the coverage types that Farmers offers as add-ons to a BOP:

• Employee practices liability insurance: Covers claims arising from employment-related issues, including wrongful termination, discrimination and sexual harassment
• E&O insurance: Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract
• Equipment breakdown insurance: Repairs for broken equipment
• Restaurant food contamination insurance: Covers food-related losses arising from contamination
• Liquor liability insurance: Covers cost of claims from injuries or damage arising from liquor-related accidents
• Cyber liability insurance: Losses resulting from cyber attacks or data breaches

If you want to choose specialized coverage that is already packaged by Farmers Insurance, you can use the search tool on its website, which allows you to browse by industry type.

Some of the industry categories included in the Farmers Insurance search tool include:

• Auto service & repair
• Commercial real estate
• Education & nonprofit
• Home & building service
• Hospitality
• Manufacturing
• Religious organization
• Restaurant
• Retail store
• Wholesale

After you select your industry, the Farmers Insurance website suggests appropriate insurance coverage for your particular needs. For example, if you selected auto service and repair, the Farmers site would suggest coverage types, such as garage liability, garagekeepers insurance, commercial property insurance and commercial auto insurance to cover your greatest risk exposures.

Farmers Small Business Insurance Costs

Farmers Insurance offers several discounts in pricing, including reduced rates for bundling coverage types in a BOP, paying annual premiums in full and upfront, using electronic funds transfer and opting for paperless statements.

Farmers Insurance Ratings and Reviews

Progressive has an A rating from A.M. Best. Their customer reviews were trending between 4.0 and 4.5 from reviews we researched. Ratings are out of 5.0 stars.

What Farmers Insurance is Missing

Although Farmers Insurance deserves credit for offering specialized coverage types for small business owners as well as a selection of coverage by industry type online, it loses points for not making its website as easy to navigate as other large provider websites.

How to Apply for Farmers Insurance Business Coverage

To easiest way to apply for business coverage with Farmers Insurance is to go onto its website and enter your ZIP code into the search tool at the top of the browser page. After completing a simple form, you’ll receive an initial quote for a good estimate on insurance coverage you need.

Visit Farmers Insurance

Best Small Business Insurance for Broad Coverage: Liberty Mutual Insurance

With more than 100 years of experience working with businesses of all types and sizes, Liberty Mutual Insurance offers tailored business policies for everything from small startups to Fortune 500 companies, serving nearly every type of industry. In addition to its specialized insurance packages, Liberty Mutual focuses on providing top-notch customer service.

Types of Coverage at Liberty Mutual Insurance

As a large, international insurance company, Liberty Mutual has a broad range of coverage types for small business owners, from a simple general liability policy to a BOP, to employee benefits. With 50,000 employees around the world, it’s easy to find a local agent or broker to get personalized service, if needed.

Some of the types of small business insurance offered by Liberty Mutual include:

• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury
• Commercial property insurance: Covers assets owned by the business, such as building, equipment or inventory
• E&O insurance: Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract
• Commercial auto insurance: Accidents involving vehicles used for business, including bodily injury liability, property damage liability, medical payments and more
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses
• Employee benefits: Integrated employee benefits solutions that include group life and disability coverage and leave of absence administration

Specialized Insurance Packages

Liberty Mutual Insurance points its business clients toward the BOP, which includes general liability and commercial property coverage types. Related insurance types that Liberty Mutual offers to small business owners include commercial auto, inland marine, workers’ compensation, umbrella insurance and surety bonds.

Liberty Mutual covers a wide range of businesses and industry types, including:

• Adult residential care homes
• Agriculture (farms)
• Construction
• Financial services
• Food and beverage manufacturing
• Healthcare
• Insurance agencies
• Printing and publishing
• Real estate
• Retail
• Scrap metal
• Self storage
• Sports and fitness

Business owners are guided toward an appropriate insurance package by independent agents, brokers or risk control specialists. Other specialized products and services offered by Liberty Mutual include employee benefits for businesses, such as absence management, group disability, group life and online solutions.

Liberty Mutual Insurance Costs

The cost of coverage with Liberty Mutual varies depending on several factors. However, many businesses can expect to pay premiums as low as $400 or as high as $3,000 or more annually. Combining multiple coverage types in a BOP reduces costs compared to buying separate policy types.

Liberty Mutual Insurance Ratings and Reviews

Liberty Mutual Insurance receives an A rating from A.M. Best. As for customer reviews, Liberty Mutual receives 4.0 and 4.5 stars out of 5.0 in ratings we researched.

What Liberty Mutual Insurance is Missing

Liberty Mutual offers a wide range of coverage types. However, unlike our other top insurance providers, its website is not simple to navigate and find information about various options available.

How to Apply for Liberty Mutual Insurance Business Coverage

Applying for small business insurance with Liberty Mutual can begin either online or with an agent or broker. Its website guides new customers to find a local representative who can offer personalized assistance in applying and in obtaining appropriate coverage.

Visit Liberty Mutual

Best Small Business Insurance for Commercial Auto Insurance: Progressive Commercial

Progressive Commercial offers all of the primary small business insurance coverage types, such as general liability and professional liability, but its greatest strength is with commercial auto insurance. Whether you’re a small florist or a trucking line with a fleet of vehicles, Progressive has experience covering your risk exposures.

Types of Coverage at Progressive Commercial

Progressive is best known for its personal and commercial auto insurance products. For businesses that need additional coverage types, its Progressive Advantage Business Program provides access to the common types of insurance most small businesses owners need.

Policy types available at Progressive Commercial include:

• Employment practices liability insurance: Covers claims arising from employment-related issues, including wrongful termination, discrimination and sexual harassment
• Business Interruption insurance: Covers loss of income due to a cease in operations because of a covered event, such as fire or flood
• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury
• E&O insurance: Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract
• Commercial auto insurance: Accidents involving vehicles used for business, including bodily injury liability, property damage liability, medical payments and more
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses
• Cyber liability insurance: Losses resulting from cyber attacks or data breaches

Specialized Insurance Packages

Progressive Commercial’s specialty product is commercial auto insurance, which includes dozens of coverage types for commercial autos, trucks and trailers. It also offers a BOP, which includes general liability, commercial property insurance and professional liability coverage types.

Here are some of the primary coverage types for commercial vehicles at Progressive Commercial:

• Truck insurance: Owner operators, motor carriers and private carriers
• Liability insurance: For third-party injury claims
• Physical damage insurance: Covers collision with a vehicle or other object
• Uninsured/underinsured motorist insurance: Covers your damages when other motorists are uninsured or underinsured
• Hired auto insurance: Covers bodily injury and property damage caused by a vehicle you hire (including rented or borrowed vehicles)
• Non-owned coverage: Covers vehicles owned by others, including your employees

Progressive can tailor its commercial auto coverage to almost any type of vehicle or trailer. Most importantly, its knowledge of risks and experience in underwriting policies for vehicles makes them the best commercial auto insurance provider. Progressive offers 24/7 claims service on its commercial auto program as well as an extensive truck repair network.

Progressive Commercial Small Business Insurance Costs

Progressive requires getting a quote for specific cost details but it breaks down the main cost factors into profession, the number of employees and coverage needs. For example, a construction business with multiple employees and $2 million liability limit would pay more than an independent sub-contractor with no employees and $500,000 liability limit.

As for discounts, Progressive offers a package discount up to 5 percent on your commercial auto insurance premium if you also have an active BOP with it.

Progressive Commercial Ratings and Reviews

Progressive has an A+ rating from A.M. Best. Trends we found in customer reviews from various websites rank Progressive between 3.5 and 4.5 stars out of 5.0.

What Progressive Commercial is Missing

Progressive is superior in personal and commercial vehicle coverage compared to other insurance providers, and it does provide a BOP with the ability to tailor coverage. However, it doesn’t specialize in custom insurance packages by industry or profession.

How to Apply for Progressive Commercial Insurance

To apply with Progressive Commercial, you can complete a form online, or you can call a toll-free number. To use the online tool, you can click on an industry type, then indicate your location. The application tool takes you through the steps from there. Progressive also has a similar tool designed specifically for auto insurance. Application time is typically 10 minutes or less.

Visit Progressive Commercial

Best Small Business Insurance for Workers’ Compensation: AmVenture

AmVenture is an independent broker that offers insurance through multiple A-rated insurance carriers. Although AmVenture specializes in workers’ compensation insurance, it writes more than 100 classes of small business insurance with the overall goal of offering high-quality service at competitive premium costs.

Types of Coverage at AmVenture

AmVenture offers the primary coverage types small business owners need, including general liability, employment liability insurance and commercial auto insurance. AmVenture also offers a BOP for combined coverage in one package. AmVenture’s number one insurance type, however, is workers’ compensation.

The primary types of insurance AmVenture offers include:

• Employment practices liability insurance: Covers claims arising from employment-related issues, including wrongful termination, discrimination and sexual harassment
• Business interruption insurance: Covers loss of income due to a cease in operations because of a covered event, such as fire or flood
• General liability insurance: Third-party claims for bodily injury, property damage, medical payments and personal and advertising injury
• E&O insurance: Covers legal costs from claims arising from injuries to your clients as a result of your business, such as incorrect advice, an omission (leaving something out) or failing to deliver on a contract
• Commercial auto insurance: Accidents involving vehicles used for business, including bodily injury liability, property damage liability, medical payments and more
• Workers’ compensation insurance: Provides benefits to your employees in the event of work-related injuries or illnesses
• Cyber liability insurance: Losses resulting from cyber attacks or data breaches
• Disability insurance: Replaces a percentage of income for your employees during periods when they cannot work due to an illness, injury or medical condition

Specialized Insurance Packages

Although AmVenture specializes in workers’ compensation coverage, it does provide tailored packages for several industry types, combining for more than 100 different classification types.

Some of the small business types AmVenture works with include:

• Accounting
• Beauty
• Doctors’ offices
• Dental offices
• Photography
• Retail stores
• Contractors
• Professional services
• Computer tech
• Restaurants
• Retail

AmVenture can provide insurance to small- and mid-sized businesses. It also offers 24/7 claim filing.

AmVenture Insurance Costs

Since AmVenture works with multiple affiliate carriers, it doesn’t publicly display standard pricing. However, it can help its clients find the best coverage for their needs at competitive pricing among its carriers.

AmVenture Ratings and Reviews

AmVenture doesn’t write its own policies but its affiliated carriers are all A-rated by A.M. Best. It has received 4.5 out 5 stars from reviews through Consumer Affairs and a 9.5 out 10 rating from Consumers Advocate.

What AmVenture is Missing

AmVenture provides basic and specialized insurance packages. However, its focus on workers’ compensation creates a slight distraction away from its other lines of insurance. This not necessarily a weakness; instead, it’s something to be improved upon.

How to Apply for AmVenture Insurance

AmVenture makes it easy to apply on its website with the online form prominently displayed on its homepage. You can start a quote right away or browse coverage types before applying, either on its Internet form or by phone.

Visit AmVenture

The Bottom Line

In our search for the best small business insurance companies, we looked for key qualities, including nationwide availability, specialization of insurance packaging, competitive pricing and favorable reviews. When looking for a provider for your small business, be sure that it is knowledgeable about your industry and how to best protect against your primary risks.

For many small business owners, finding a provider that makes insurance simple and affordable is best. With a provider like Next Insurance, you can enroll online easily in a matter of minutes. Its commercial general liability insurance plans start as low as $11 per month.

Visit Next Insurance