Top 10 Small Business Insurance Providers to Watch in 2025

What Are The Leading Small Business Insurance Providers?

1. Liberty Mutual

Top Choice for Overall Coverage

Key Features:

• Develops products that address emerging industry trends.
• Designs policies suitable for a post-COVID economic environment that constantly evolves.
• Strives to make commercial insurance more secure through innovative approaches.
• Provides accessible support via dedicated insurance agents for policy questions or assistance.

Pricing:

Pros and Cons of Liberty Mutual

• Offers industry-specific policies that can be customized to fit your business needs.
• Provides detailed guidelines that help tailor coverage appropriately.

• No online quoting system is available, so you must contact an agent for a quote, which may take some time.

2. Nationwide

Ideal for Clear, Straightforward Coverage

Key Benefits:

• Knowledgeable and friendly agents are ready to help you pick the best coverage options tailored to your business needs.
• You can safeguard your business assets from natural disasters like fires, storms, and wind by choosing appropriate insurance plans.
• Insure your business equipment such as computers and office furniture to ensure operations continue smoothly after incidents like theft or fire.
• Strengthen your company’s financial security with coverage from one of the largest insurance providers in the U.S.

Pricing:

Pros and Cons of Nationwide

• Applying for general liability insurance is straightforward and can be completed entirely online.
• Customer support is generally responsive, resolving most issues promptly and efficiently.

• In certain cases, claims processing may be inefficient, making it challenging to receive rightful compensation.

3. The Hartford

Best for Combining Multiple Insurance Policies

Key Benefits:

• Provides specialized car insurance to protect you and your employees if driving is essential for your business operations.
• Assists in covering costs related to data breaches if sensitive information is lost or stolen.
• Offers flexible coverage limits so you can choose policies that best fit your specific needs.

Pricing:

Pros and Cons of The Hartford

• The company has a long history, which indicates they understand what businesses need and how to evaluate risks correctly.
• Excellent customer service ensures support when needed and advocates who will fight for your interests during claims.

• Since they are not industry-specific insurers, some businesses may find they lack detailed knowledge of their particular sector and risks.

4. Progressive Commercial

Best for Insurance Discounts

Key Benefits:

• Progressive Commercial offers adaptable and cost-effective solutions tailored to your business requirements. Each state has its own workers’ compensation regulations, so Progressive Commercial provides customized coverage options to suit your specific situation. Additionally, their policies can cover property damage caused by natural disasters like fires, earthquakes, and floods—something not all insurance providers offer.

Main Highlights:

• General Liability safeguards your business against claims from others for bodily injuries or property damage.
• Commercial Auto insurance covers vehicles owned by your business that are used for work-related purposes.
• Professional Liability, or Errors and Omissions insurance, protects your business from claims of negligence or improper work by third parties.
• Cyber Insurance shields your business from risks related to data theft, cybercrime, and electronic data loss.
• A Business Owners Policy (BOP) combines General Liability, Property, and Auto coverage into a single comprehensive plan.

Cost Estimates:

Reach out to Progressive Commercial for a quote to determine the price of insuring your small business.

Pros and Cons of Progressive Commercial

Advantages:

• Trusted for affordability and reliability, offering a wide range of coverage options for business owners.
• One of the most comprehensive policies available, including product liability, professional services, and workers’ compensation coverages.

Drawbacks:

• The coverage options are not available in every state, so check their website to confirm if your location is included.

5. Travelers

Ideal for Unexpected Incidents

Travelers provides small business insurance policies and resources that prepare you for unforeseen circumstances. They also offer expert advice to help shop owners make informed decisions without pushing for a sale. Whether it’s protecting against worker injuries, natural calamities, lawsuits, or other risks, Travelers has you covered.

Main Highlights:

• A Business Owner’s Policy (BOP) is highly customizable for small businesses’ specific needs.
• Workers’ Compensation covers medical costs and lost wages for injured employees.
• Small Business Data Breach insurance helps defend your company against data security breaches.
• Professional Liability insurance shields your business from lawsuits claiming negligence in professional services.
• Employment Practices Liability insurance defends against claims of wrongful termination, discrimination, or other employment-related issues.

Cost Details:

Contact Travelers directly or find an agent nearby to begin the process.

Pros and Cons of Travelers

Advantages:

• An online portal provides easy access to policy details and adjustments at any time.
• Their educational resources on risk management aid small business owners unfamiliar with insurance complexities.

Disadvantages:

• The absence of online quotes means you need to speak with an agent directly, which may be less convenient for some.

6. Chubb

Best for Industry Expertise

Chubb boasts extensive underwriting expertise and offers a broad selection of coverage options tailored for small businesses. With a longstanding history of insuring small enterprises, they have developed the experience necessary to support businesses generating up to $30 million annually. Their various commercial insurance products can be customized to fit your specific needs, and their online portal streamlines quoting, policy management, and document viewing, making policy management straightforward and accessible.

Key Highlights:

• The Chubb BOP simplifies coverage access by providing tailored, specific policies suited to your business needs.
• Workers’ compensation covers medical expenses and lost wages for injured employees.
• Management and professional liability protect against lawsuits alleging negligence in professional services.
• Cyber Enterprise Risk Management (ERM)/DigiTech ERM helps defend your business from cyber threats.
• Foreign Package insurance provides coverage for international business operations and risks.

• for companies operating outside of the United States.

Pricing:

Get a personalized quote from Chubb to compare different rates and coverage options.

Pros and Cons of Chubb

Pros:

• The business owner’s policy can save costs if specific conditions are met.
• Claims are managed internally with dedicated Chubb adjusters who oversee the process from start to finish.

Cons:

• You need to provide detailed information about your business to receive an accurate quote, which may not be comfortable for all companies.

7. Next Insurance

Ideal for Risk-Takers



Next Insurance is designed for entrepreneurs who are comfortable taking risks but still want reliable protection if things go wrong. Whether you’re just starting out or expanding your business, Next Insurance offers coverage options suited to your needs.

If you operate in a high-risk industry or have special coverage requirements, Next Insurance is worth considering. They offer seven different types of insurance, increasing the likelihood you’ll find a product that fits your specific situation. For quick access to proof of insurance, their mobile app allows you to download certificates instantly.

Main Features:

• Professional Liability covers legal claims arising from alleged professional negligence.
• Errors and Omissions protect your business from mistakes that could lead to financial loss for clients.
• Tools & Equipment insurance covers repairs or replacements for lost, stolen, or damaged tools.
• A Business Owner’s Policy combines general liability with commercial property coverage for small businesses.
• Product Liability shields your business from lawsuits alleging your products caused injuries or property damage.
• LLC Business Insurance provides coverage tailor-made for LLCs, including liability, property, and auto insurance.
• Liquor Liability protects against claims related to injuries or damages caused during alcohol service.

Pricing:

You can get an immediate quote directly on the Next Insurance website to estimate your coverage costs.

Pros and Cons of Next Insurance

Pros:

• The online application process is straightforward, helping you start your policy quickly.
• Buying multiple types of insurance from them can lead to discounts through bundling.

Cons:

• Some specialized business insurance needs may not be met by their current offerings.

8. Thimble

Best for Business Equipment Insurance



Thimble provides quick and simple insurance options suitable for businesses of all sizes. They offer coverage for general liability, property damage, professional liability, and product liability, ensuring comprehensive protection when needed.

Their policies can be tailored to your operations, covering claims related to bodily injuries, property damage, or other workplace mishaps. Included in their offerings is the business owner’s policy (BOP), which bundles general liability with property coverage to streamline your insurance management.

Key Features:

• Commercial property insurance protects your physical assets like inventory and equipment from damage or loss.
• Drone insurance safeguards your business against claims associated with drone operation and maintenance.
• A general liability policy can shield you from injuries and accidents occurring on your premises or during your work.
• Coverage can be purchased by the job, month, or year, offering flexibility.
• You can modify, pause, or cancel your coverage anytime based on your workload fluctuations.

9. CyberPolicy

Best for Cybercrime Insurance



CyberPolicy is a top choice for comparing business insurance rates and purchasing multiple coverage options. It offers flexible payment plans, competitive pricing, and fast, precise quotes tailored to your specific needs. Their range includes various liability and property damage insurance plans. CyberPolicy also provides professional liability coverage to shield assets from cyber threats and liabilities, making it an ideal option if your industry involves significant cyber risks. Your business can also benefit from commercial real estate coverage, saving money while protecting your property. They offer workers’ compensation and general liability insurance to safeguard against injuries and property damage, which are common risks in everyday business activities. If your company processes credit card transactions or other financial dealings, their account insurance can be particularly advantageous. Getting started is simple—you just need to provide some details about your business. Once you do, they can offer you quotes for various types of small business insurance.

Key Features:

• CyberPolicy offers a wide selection of insurance options to cover your business needs.
• You can bundle multiple policies and receive discounts for doing so.
• The quotes provided are quick, accurate, and customized to your requirements.
• If you operate in sectors vulnerable to cyber threats, obtaining cyber insurance through them is highly recommended.

10. State Farm.

Best For Continuous Support.



State Farm recognizes that starting your own business involves taking big risks. To support entrepreneurs, they offer several insurance policies designed to protect your company against potential setbacks. With coverage tailored to your specific needs, they can help you build and grow your business while protecting your investment. Competitive and affordable rates make State Farm a practical choice, especially with local agents who can guide you through selecting the right coverage. These agents provide ongoing support and expert advice to help you navigate the challenges of daily business operations. Their offerings include commercial auto insurance, which ensures your vehicles are protected; coverage for commercial buildings under construction as you expand; and commercial liability umbrella policies that shield you from unexpected events.

• Having a local agent means personalized assistance and quick response to emergencies.
• Protection for your expanding business is provided through insurance for new construction sites.
• State Farm also offers umbrella policies to ensure comprehensive coverage.

Another insurance provider not discussed here is Hiscox, which also offers specialized coverage for small businesses.

What Do Small Business Insurance Companies Do?

Small business insurance companies specialize in providing coverage tailored to small enterprises. They offer essential policies such as property, casualty, health, and life insurance, all designed to protect against unforeseen risks and disasters. These companies help business owners evaluate whether a policy provider is reputable and capable of meeting their needs. Business liability insurance, in particular, is crucial as it shields companies from legal claims or lawsuits filed by clients, vendors, or other third parties involved in daily operations. The level of liability coverage should match your business’s risk profile; higher-risk businesses need more coverage to safeguard against potential damages caused by negligence.

Furthermore, some providers offer personal umbrella policies, which give additional protection beyond standard coverage in case of claims. Tailored insurance plans ensure that your business is adequately protected without unnecessary coverage, reducing both risk and cost. Keeping in mind that small business owners should carefully select policies that align with their actual risks—never settling for inadequate coverage—ensures long-term stability and peace of mind.From a company that does not specialize specifically in offering insurance for small businesses but has been providing such services for a reasonable period.

Different Types Of Business Insurances To Consider

Having various types of coverage can help safeguard your small business. It’s essential to ensure you have the right kinds and amounts of insurance to protect your financial interests. Let’s explore some of the key insurance options you might want to consider.

Products Liability Insurance

If the products your business sells cause harm to customers or damage their personal property, you could be held responsible for injuries or damages resulting from their use. Purchasing products liability insurance can help mitigate your risk of being sued. This coverage also protects your business against damages caused by faulty products.

General Liability Insurance

This type of insurance covers the costs associated with legal actions for injuries that happen on your property—such as retail stores, work sites, or any location visitors are invited to. It also provides protection against slip-and-fall accidents. If someone gets injured or their property is damaged because of your negligence—like missing a patch in the sidewalk—they may sue your business. General liability insurance helps your company avoid being held liable for such incidents.

Errors and Omissions Insurance (E&O)

E&O policies safeguard businesses from legal claims related to faulty advice, professional negligence, or providing false information to clients. For companies delivering professional services—like accountants, consultants, or law firms—E&O insurance is vital in protecting against claims arising from unintentional mistakes or workplace errors.

Property Insurance

Property insurance covers the costs of damages caused by natural disasters, theft, fire, or other unexpected events. The specific policy you’ll need depends on your business’s location and the type of buildings you operate in. For instance, owners of their own premises require different coverage than tenants leasing commercial space. Combining property insurance with general liability policies ensures your assets are protected from unanticipated damages or losses.

Cyber Liability Insurance

This coverage helps protect your business from financial losses resulting from data breaches. It can cover expenses such as investigating the breach, alerting affected customers, and offering credit monitoring services. Cyber liability insurance is especially critical for businesses that handle sensitive customer information, like credit card details or social security numbers.

Crime Insurance

Crime insurance protects against losses from theft or robbery, including stolen equipment, cash, and valuables like cash registers. It provides support in case your business faces theft or burglary. The coverage details vary depending on your specific risks, allowing you to select policies customized to your organization’s needs.

Workers Compensation Insurance

If employees sustain injuries at work, workers’ compensation insurance helps cover their medical expenses and provides wage replacement if they cannot work due to injury or illness caused by workplace hazards. Many states legally require this coverage. It also offers protection when accidents happen at your facilities or during company events like conferences or product demonstrations. Having workers’ comp insurance ensures your business complies with legal requirements and shields you from potential lawsuits related to workplace injuries.

Umbrella Insurance

An umbrella policy provides additional liability coverage beyond the limits of your existing policies, such as general liability or property insurance. It offers extra protection against high-risk issues like product liability and professional malpractice. Sometimes, purchasing an umbrella policy can be cost-effective, possibly lowering your premiums on other coverage plans because these policies are often affordable. They serve as an extra layer of security when your primary policies reach their limits.

Factors To Consider Before Buying Small Business Insurance

When selecting an insurance provider, it’s crucial to evaluate your options carefully to find a partner that can meet your business’s needs with professional service. Ensuring you receive comprehensive information from potential insurers is vital to determine if they can offer tailored protection for small businesses like yours.

Although each business faces unique risks depending on its industry and location, some common factors can help guide your choice. Let’s examine these considerations.

Their Years Of Operation

An insurance company with many years of experience is likely to have established a solid reputation for quality service. Their longevity indicates they’ve built strong relationships within the industry and have developed comprehensive coverage options tailored to small businesses. Companies with such a track record often provide reliable, affordable coverage and have the expertise necessary to meet your specific needs.

Their Focus On Small Businesses

Some insurers specialize exclusively in policies for small business owners. These companies often understand the unique challenges your industry faces and have experience crafting policies that address those risks. Choosing an insurer with a focus on small businesses, especially within your specific sector, can ensure you receive targeted coverage designed to protect your organization effectively.

Their Financial Stability

Typically, reputable insurance providers maintain strong financial health, which enables them to support their clients when needed. You should review their reputation concerning financial strength and history of claims payouts. A financially stable company is more likely to be around when you need assistance and can honor their commitments. Generally, the best providers earn trust over time through transparent dealings and consistent service.

In summary, selecting the right small business insurance involves considering the company’s experience, specialization, and financial stability. These factors help ensure you partner with an insurer capable of providing dependable protection tailored to your specific needs.

Customer Feedback, Complaints, and Praise

Before choosing an insurance provider, it’s important to look into what customers say about their service quality. Pay attention to how many complaints customers have made and how quickly the company addressed those issues. This can give you a sense of how committed they are to resolving client concerns efficiently. On the flip side, consider the number of positive comments and praise the company has received. If many customers speak highly of their experiences, it’s a good sign you might have a similarly smooth experience.

Availability of Online Quotes and Claims

Having easy access to online quotes is crucial given the wide variety of insurance types—whether you’re looking for business interruption coverage, property protection, liability insurance, or policies for independent contractors. A provider that offers free quotes online shows they understand the importance of convenience. The same applies to the claims process; swift claim handling is vital, especially when a small business faces unexpected incidents. Faster claims mean quicker settlements, helping you keep your business running smoothly and financially stable.

The Size of Their Customer Base

Choosing an insurance company with whom you feel comfortable is essential. The number of clients they serve can offer insights into their support capabilities. If they cater to many businesses within your industry, it demonstrates their experience in managing the specific challenges your business faces. A large and diverse client base suggests they have the expertise to resolve issues swiftly and effectively, which is reassuring when you need reliable support.

Blending Professional and Personal Policies

Sometimes, business owners can reduce insurance costs by bundling their small business coverage with personal policies like homeowners, auto, or life insurance. This strategy can lead to lower deductibles, reduced premiums, or increased coverage depending on the insurer. Bundling is particularly advantageous for startups and small businesses with tight budgets. Additionally, some companies offer extra benefits or add-ons when you insure multiple aspects of your life and business under one provider, making it a flexible option for comprehensive coverage.

Specialized Policies for Unique Business Needs

Certain insurers focus specifically on policies like workers’ compensation or general liability tailored for small businesses. These specialists are valuable because they understand the particular risks your business faces and can craft policies suited to your size and industry. While many providers offer basic coverage, small business insurance agencies often have the expertise to design safeguards aligned with your specific needs. For instance, business income protection can help you recover during temporary setbacks—something not always available from more generic insurers, especially for smaller firms.

Using Endorsements to Extend Coverage

Endorsements are a practical way to add extra benefits to your existing policy without paying for multiple upgrades. For example, if your business requires marine insurance for certain assets, many insurers may not typically offer this coverage. However, specialized business insurers often understand niche requirements and can provide endorsements for certain products or risks that general policies might exclude. This flexibility ensures your unique business operations are adequately protected.

Access to Industry-Specific Network Discounts

Getting good value from your insurance involves paying appropriate prices for the benefits offered and avoiding unnecessary coverage. Some companies tend to insure against every conceivable risk, which can be overly expensive; others might under-insure. Choosing a provider with access to discounts through industry networks can help you optimize coverage, especially if your business operates in a low-risk sector. Insurance providers that have established relationships with risk reduction organizations can guide you toward policies that balance cost and coverage, including potential discounts based on your company’s claims history or industry standards.

Business vs. Personal Insurance

Business insurance differs from personal policies in several ways. Usually, business policies have higher coverage limits—say, a million dollars versus half a million for personal policies—reflecting the larger risks involved. Additionally, business insurance typically provides a broader scope, including coverage for product liability, which personal policies may exclude. For owners of startups or established companies alike, selecting the appropriate coverage is crucial. The best approach involves working with knowledgeable insurance agents or brokers who can assess your specific needs and help you find policies offering optimal protection at competitive prices.

Independent Agents versus Direct Insurance Providers

When exploring small business insurance options, you’ll encounter independent agents and direct insurers. Independent agents work with multiple insurance companies and can compare different policies to find the best fit for your business. Direct writers, on the other hand, sell policies directly from their own companies, often at lower rates but with less flexibility for customization. While direct insurers might save money upfront, working with independent agents can provide broader options tailored to your unique needs.

Small Business Insurance – Frequently Asked Questions

What Are Deductibles?

In Insurance?

Deductibles refer to the portion of an insurance claim that you, as the policyholder, are responsible for paying directly. The insurance company will cover the rest of the claim amount. For instance, if your deductible is $1,000 and your total loss amounts to $2,500, you must pay the first $1,000, and the insurance provider will pay the remaining $1,500.

What’s the Difference Between Casualty Insurance and Comprehensive Insurance?

Casualty insurance primarily protects businesses from losses caused by unpredictable events such as natural disasters or terrorism. Conversely, comprehensive insurance covers damages resulting from normal business operations, including property damage or employee-related injuries.

Do All Businesses Offer Online Quotes?

Not all companies provide quotes through online platforms. Some insurers may only give estimates via phone calls or in-person consultations.

What Are Typical Small Business Insurance Costs?

The cost of insurance for small businesses varies widely based on several factors like the type of business, its location, and the level of coverage needed. Because of this, there’s no standard price that applies universally; each quote depends on the specific circumstances of the business.

Wrap Up

When choosing an insurance provider, it’s more beneficial to consider companies known for excellent customer service and industry expertise rather than simply selecting the one with the lowest premium. This strategic choice can help you reduce claims, resolve issues swiftly, and allow your team to concentrate on growing your business.

Taking the time to carefully select appropriate insurance coverage can prevent serious financial losses and ensure your business keeps running smoothly. Remember to evaluate all the factors discussed here to make an informed decision that best suits your needs. If you know of any other trustworthy small business insurance providers or have recommendations, feel free to share in the comments below.

Further reading on StepThroughThePortal.com: Having the right insurance policy is essential for your business. Equally important is starting with a strong business idea, which you can explore further here.

If you’re interested in learning more about establishing a business, check out my post on the best LLC services. This resource will help guide you through selecting the right companies for setting up your business entity.