Small Business Insurance Companies

Do you own a small business and are you thinking of getting business insurance? Learn more about the top 10 small business insurance companies that are available today in this article!

It is essential to do some business planning before opening a business. You must plan for the worst possible outcome, and there no way to know what the future holds. So you have to prepare for as many adverse outcomes as possible. And that’s when business insurance comes. Learn more about the importance of business insurance for small businesses now.

Is Business Insurance Required?

If your small business has employees, then you should know that most states will require to have workers’ compensation and unemployment insurance. Depending on where your business is located, you might also be required to have disability insurance.

But if you do now have any employees, you might want to opt for specific coverage such as a business owner's policy or BOP. A basic BOP will cover for general liability, damage to property, and business income.

How Much Should I Pay for Business Insurance?

Just like any other insurance policy, the cost for small business insurance will depend on a lot of factors such as your business location, type, annual revenue, size and years in business. The cost can also be determined by which small business coverage options are perfect for your business, and coverage limits, and even deductibles.

Top Reasons Why You Should Have Business Insurance

If you are a new business owner, you might be wondering why you should invest in protecting your business and assets. Well, here are the top reasons why you should consider getting business insurance:

1. Legal Requirement – As we have stated above, if you have at least one employee, you would need to provide worker’s compensation, unemployment insurance and disability insurance. Also, if you are renting a place for your business, your landlord may require you to hold renter’s insurance.

2. People These Days Like to Sue – People are becoming sue-happy these days. No matter what type of business you start, there would be a chance that you would encounter someone, at some point, that is unhappy with the business or service that you provide, and will engage you in a lawsuit.

If you do not have liability insurance, handling a lawsuit could be hard for a small business, even if the business were not found liable.

3. Can Protect Your Business in the Event of a Disaster – Having business insurance will protect your business from the most common disasters like fire, theft or even vandalism.

Picking the Right Small Business Insurance

When it comes to picking the perfect insurance for your business, the Insurance Information Institute recommends the following:

1. You must assess your risk, including every business property, equipment, and inventory.
2. Talking to a professional who knows the insurance industry is a wise move.
3. Make sure that the insurers that made your list have a good reputation, licensed and in a good financial condition to pay for claims when needed.
4. Use comparable coverage, exclusions, deductibles and limits when comparing rates.
5. Keep the rates low by implementing a risk management program that will minimize the losses from theft, injuries and fires.
6. Reviewing your risks and insurance every year is highly recommended.

Top 10 Small business insurance and Small business insurance websites

We ranked the best Small business insurance websites so that you can find what you need.

Last updated: 2023-11-27

Rank

Provider

Description & Features

Site

1

★★★★★

324 Data points

Business Insurance from Nationwide
Business Insurance from Nationwide
What type of small business insurance do I need? The kinds of commercial insurance coverage you need depend on the kind of business you have. For example, a tree removal service working with potentially dangerous equipment would have different risks and needs than a freelance web designer.

2

★★★★★

300 Data points

15 Best Small Business Insurance Companies 2019
15 Best Small Business Insurance Companies 2019
The best small business insurance companies offer basic policies, such as general liability, and a broad range of additional coverages that small business owners may need. We reviewed dozens of providers and narrowed them down to our top 15 based on key criteria like coverage types, customer service, and pricing. ...

3

★★★★★

278 Data points

Business Insurance | Progressive Commercial
Business Insurance | Progressive Commercial
Business insurance isn’t a specific coverage. It’s a term used to describe one or more individual coverages that protect a small business. The range of protection depends on the specific coverages a business carries. For example, “business insurance” can refer to a single coverage, such as general liability, but it can also include many ...

4

★★★★

257 Data points

General Liability Insurance - Protect Your Business | GEICO
General Liability Insurance - Protect Your Business | GEICO
How much does general liability insurance cost? The cost of general liability insurance is based on your specific business needs. Your business is unique, and GEICO can help you get an insurance policy with the right coverage at a great price. Start your general liability insurance quote now.

5

★★★★

238 Data points

Business Insurance & Small Business Insurance Quotes ...
Business Insurance & Small Business Insurance Quotes ...
A: While small businesses like yours can buy insurance policies separately, many insurers to combine the common property and liability coverages into a single policy, called a Business Owners Policy or BOP. - Bart Baker, a Farmers Insurance® agent based in Malibu, California. Read more about Business Owner Policies

6

★★★★

221 Data points

Small Business Insurance | Insurance for Small Businesses
Small Business Insurance | Insurance for Small Businesses
Protect your company and employees with small business insurance from The Hartford. Over 1 million small businesses trust the Hartford. You can rest assured knowing that whatever your business coverage needs, The Hartford has the right insurance for your small business. Get started today.

7

★★★★

204 Data points

What Is Small Business Insurance? | Allstate
What Is Small Business Insurance? | Allstate
Small business insurance, sometimes called commercial insurance, helps protect a business's assets, property and income. A business owners policy (BOP) is the most common policy for small businesses, according to the Insurance Information Institute. A BOP typically includes three basic types of coverage to help protect a business: business ...

8

★★★

189 Data points

Small Business Health Options Program | HealthCare.gov
Small Business Health Options Program | HealthCare.gov
Health insurance for your small business. Offering health benefits is a major decision for small businesses. Use HealthCare.gov as a resource to learn more about health insurance products and services for your small business and its employees. SHOP Coverage Other Coverage.

9

★★★

175 Data points

Small Business Insurance | Travelers Insurance
Small Business Insurance | Travelers Insurance
Small Business Insurance 101: Frequently Asked Questions and Answers. If you're preparing to launch your own business, here are some frequently asked questions and answers to help you think it through and plan ahead.

10

★★★

162 Data points

Business Owners Policy - Get a BOP Insurance Quote | GEICO
Business Owners Policy - Get a BOP Insurance Quote | GEICO
GEICO Insurance Agency, Inc. has partnered with Hiscox Insurance to provide business insurance products. When you click on "Start Quote", "business owner's insurance quote", or "business owner's policy quote" you will be taken to the Hiscox website, which is not owned or controlled by GEICO.

Small business insurance videos considered

We analyzed 3,132 hours of the most informative Small business insurance videos. These videos stood out the most:

Local Small business insurance near you

Gotham Brokerage

75 Maiden Ln, Ste 804

EK Insurance

99 Wall St, Ste 1234

Max J Pollack & Sons Insurance Agency

682 Union St, Brooklyn, NY 11215

Allstate Insurance: Kelly Qu Agency

50 E 42nd St, Ste 513

Life143 Small Business Health Insurance Brokerage

61 Broadway, Ste 2770

James B Lavelle

State Farm Insurance, 420 Lexington Ave

Muller Insurance

930 Washington St, Hoboken, NJ 07030

Meilee Fu - State Farm Insurance Agent

139 Centre St, Ste 813

Kevin Kautzmann, CFP - EBNY Financial LLC

80 5th Ave, Ste 1403

Useful Small business insurance Resources

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This comparison site is made up of our own opinions and views. The ranking is determined at our discretion and is not to be used for accuracy purposes. We can provide this service at no charges thanks to a combination of referral fees and advertising income we receive from various publishers and service providers. These payments may affect our rankings and the score we assign to websites, products, and vendors. Our ratings do not imply endorsement of any kind. This website's information, rankings, and vendor list is subject to change without notice at any time.