Best Small Business Insurance
Do you know you can also insure your small businesses so don’t you don’t get to suffer losses. However, like every other type of insurance, you must ensure you’re buying insurance from a good source. There are some of the best small business insurance companies for you to get insurance today.
This post will show you the best small business insurance companies to get your coverage from. It will provide details on the company to help you make your choice on whom to patronize. You don’t want to miss this vital information so stick with this post to the end.
The Best Small Business Insurance Companies
Here are the top companies to buy insurance from for coverage of your small business. Visit one of them today to get the best services to meet your needs:
Hiscox
In 1901, Hiscox began as a Lloyd’s market underwriter. The parent company of Hiscox Group is based in Bermuda. Its US headquarters are in Atlanta, Georgia, and it has nine sites across the country.
Hiscox is present in 14 countries and all 50 states, as well as the District of Columbia.
Hiscox insurance offerings include commercial general liability, professional liability, and business owners’ policies (BOPs). It also offers workers’ compensation, cyber liability, commercial auto, and employment practices liability insurance (EPLI).
At Hiscox, standard liability coverage limits are up to $2 million, with higher amounts available with underwriting approval. The organization works in a variety of industries and insurance types. Among the 180+ enterprises that can profit from tailored solutions are salons, fitness instructors, consultants, therapists, janitors, and acupuncturists.
The Hartford
In 1810, Hartford began as a fire insurance company. The company has grown to become a Fortune 500 company with over 500,000 small business customers since then. The Hartford, a Connecticut-based corporation, has received an A+ (Superior) grade from AM Best.
Hartford offers general liability, business interruption, commercial auto, commercial flood, data breach coverage, commercial umbrella, company income, liability coverage, etc. The organization advertises more than 21 industry specialties, including arborists, pet groomers, restaurants, printing, and publishing.
State Farm
State Farm began in 1922 by G.J. Mecherle, a retired farmer and insurance salesman. State Farm offers more than a hundred services, including financial services, banking, and business insurance.
However, it is best known for auto and home insurance. It has an A+ financial stability grade from AM Best.
State Farm distributes insurance in most states and offers policies for every stage of a company’s development
It includes general liability, professional liability, and other types of coverage that you can add to plans to fit specific needs. State Farm also offers specific business insurance for contractors, professional services, restaurants, and retail stores.
Aside from business insurance, State Farm offers discounts to policyholders who bundle specific forms of coverage. Bundling business coverage does not qualify for the reductions. If you’re content with your State Farm business coverage, you could save money by getting home and auto insurance also.
With each State Farm being individually owned, each agent is familiar with the particular demands of small company owners. This is because they are themselves entrepreneurs.
Liberty Mutual
Liberty Mutual is the best provider of business owners policies (BOPs). This bundles multiple types of coverage into a single policy to protect against liability, property loss, and income loss. Liberty Mutual has a unique position to help a large number of business owners in a variety of industries.
Liberty Mutual insures businesses through independent agents across the United States. There are 11 industry-specific solutions for construction, public organizations, financial institutions, healthcare, real estate, and wholesale. There are also solutions for commercial vehicle, equipment breakdown, inland marine, umbrella coverage, and workers’ compensation. Liberty Mutual also promotes 24-hour claims support through their nationwide contractor referral network.
Travelers
This is another illustrious company dating back to 1864 when one of its founders began selling two-cent accident insurance. Travelers and St. Paul Companies amalgamated in 2004, forming the current company with an A+ rating from AM Best.
Travelers provide insurance for companies in over 40 industries, including transportation, manufacturing, construction, retail, and government. The organization, on the other hand, has a solid reputation in the field of commercial property insurance.
The company writes so much property insurance, becoming the number-six writer of commercial property insurance in the US in 2023. Commercial automobile, cyber liability, surety bonds, and workers’ compensation are among the other types of business insurance the company offers.
The company is well-suited to provide coverage for organizations that do business globally. It operates in the United States, Canada, and the United Kingdom.
Nationwide
Farm Bureau Mutual Automobile Insurance Company, which preceded Nationwide, began in 1926. In 1955, the corporation changed its name Nationwide to expand coverage to all 50 states from coast to coast. Except for Hawaii and Alaska, every state has a representative.
Nationwide also offers commercial property, commercial auto, business interruption, BOP, workers’ compensation, EPLI, equipment breakdown coverage, and umbrella insurance. It also offers general liability. The company’s 14 industry specialties include retailers, professional offices, food and beverage businesses, and farms and ranches.
Progressive
Progressive, which began in 1937, is the largest commercial auto insurance company in the United States.
Its core concentration is commercial vehicle insurance, although it offers general liability, workers’ compensation, BOPs, professional liability, cyber insurance, etc. It has insurance solutions for 61 industries and professions, including gyms, yoga instructors, auto mechanics, painters, beauty salons, etc.
Progressive offers a discount on commercial auto coverage when your company has general liability. Even if the public liability is with a different insurer, it offers this discount. By paying their annual rates, on the whole, business owners can save up to 15%.
Cover wallet
CoverWallet offers a comprehensive list of solutions if you need multiple types of business insurance. It is ideal for businesses that require several types of business insurance without applying to many providers.
CoverWallet is a good internet insurance solution for many businesses since it gives them access to various insurers. It is a broker who connects you with different insurance companies. They work hard to get you approved for any type of insurance your business wants and get you great rates.