Even if you’re running a small business, you can never expect everything will go smoothly without something unfortunate happening.

You may already know that sometimes businesses and people need to take a risk to achieve their goals. And if things go wrong, accidents happen, and make a loss of significant value, profits, or even people of the company, you need a backup plan or something like that to protect your business and all of the employees involved.

Many small businesses choose insurance to protect themselves from many types of accidents and losses. Knowing that choosing a suitable insurance company is not as easy as the policy is quite complicated; we’ve compared multiple insurance companies to filter out the best options for small businesses.

Keep on reading until the end to see which insurance company best fits your business.

Here’s our list of best insurance companies for small businesses:

  • 1. Hiscox – Big coverage for small business
  • 2. The Hartford – Business, Home & Car Insurance Quotes
  • 3. State Farm – Auto, Life Insurance, Banking, & More Insurance
  • 4. Insureon – Hassle-Free Business Insurance
  • 5. Next Insurance – Small business insurance has never been easier
  • 6. TrustedChoice – Independent Insurance Agents
  • 7. Suracy – Business Insurance
  • 8. TechInsurance – Technology Business Insurance
  • 9. Nationwide – Insurance Services Company
  • 10. Travelers – Business and Personal Insurance Solutions

Now let’s get down to the details of each company.

1. Hiscox – Big coverage for small business

Hiscox – America’s leading small business insurer

Hiscox claims itself a big, fast, affordable coverage for small businesses. Hiscox is a USA-leading specialist insurer with a long history of protecting businesses.

The company serves worldwide customers in various industries, including architecture & engineering, beauty, commercial maintenance, consulting, fitness, health, home services, marketing, property, therapy, and retail. If your company’s expertise is not on the list, Hiscox offers you a fast and free quote in minutes to get Hiscox’s services at your fingertips.

Hiscox specializes in many business insurance types to your specific needs, such as professional liability, errors and omissions, general liability, workers compensation, business owner’s insurance, cybersecurity, short-term liability, and more.

Great scalability of international insuranceNo local office
Policies specialize for small businesses needsNot for large companies
Offer various business insurance products
Offer 14-day money-back guarantee


Hiscox pricing plans are customized and depend on many factors, such as your industry, location, business size, type of insurance, and more. Hiscox charges a minimum premium of $350 per year for its general liability insurance. The costs of the three types of insurance that Hiscox offers are:

  • Professional Liability: coverage from $22.50
  • General Liability: coverage from $29.17
  • Business Owner’s Policy: coverage from $41.67

The company offers coverage for many industries at $22.50/month affordable for independent contractors and small businesses.

2. The Hartford – Business, Home & Car Insurance Quotes

The Hartford – Overall best small business insurance company

We can say that Hartford is one of the most worth-to-choose companies because of its ability to offer insurance policies and industry-specific packages with multiple coverages than many others.

Its small business insurance enables you to cover expensive damage and lawsuits from accidents, natural disasters, professional errors, workers’ compensation, and more. You can get The Hartford confidence behind your business as the company has been dedicated to helping small businesses for over 30 years with profound and highly-rated specialists.

The Hartford’s Business Owner’s Policy (BOP) offers three essential coverages:

  • General Liability Insurance: protects your business from financial costs of property damage, personal and bodily injury, or advertising injury claims against your business.
  • Business Property Insurance: protects the physical locations, tools, and equipment that your business owns or leases.
  • Business Income Insurance: makes up for the lost earnings when you have to cancel your business due to unfortunate incidents, such as fire or theft.

As time goes by, your business expands, and you need more protection for the likelihood you’ve built so hard. Now The Hartford is scalable to scale up with you. The company offers you a new small business insurance quote based on the risk you may encounter.

Some types of coverage you may face on your business growth path are:

  • Workers’ compensation
  • Commercial auto
  • Professional liability
  • Cyber insurance
Multiple types of industry-specific coveragesThe online quote form isn’t always good, and you have to switch to a direct call with an agent
Easy to customize coverages based on specific needsSince The Hartford is intertwined with AARP (American Association of Retired Persons), policies are only available to the organization’s members
Professional and enthusiastic specialists
Best worker’s compensation insurance with many convenient and high-quality services
Excellent customer service
Offer insurance in all 50 states


The Hartford prices are varied and affected by different factors, such as exposure to risk, business location, experiences in business or industry, business types, and your deductible.

The specific insurance cost can be only provided when you apply for a quote. However, its BOP’s latest update offers four levels of coverage options: Stretch, Stretch Plus, Super Stretch, and Premier Stretch. The Stretch level covers the most common risk that small business owners may face and costs about $100.

In addition, you need to consider lawsuits when estimating the cost of insurance is when a claim is filed and leads to a lawsuit, the insurance costs will be higher.

3. State Farm – Auto, Life Insurance, Banking, & More Insurance

State Farm – best small business insurer overall

State Farm was established in 1922 by G.J Mecherle – a retired farmer. The company is well-known for its auto and home insurance dating back to the first days when G.J Mecherle sold his first single line of auto insurance, his first product.

State Farm’s mission is to help people manage the risks of their everyday life, recover from the unexpected, and realize their dream. Inspired by the founder’s saying: “Honesty isn’t the best policy – it is the only policy”, up to now, the company remains committed to the highest standard of integrity.

State Farm offers nationwide types of insurance coverage, making it one of the best overall insurance companies. Though the best automobile insurance in the U.S., you can count on State Farm’s small business insurance to protect your business and boost up its growth.

State Farm will offer you different insurance products based on your business stage, including starting up, growing, mature, and changing ownership. For example, suppose your company is a new-born. In that case, some essential insurance coverages are business owners policy, business & commercial auto, individual health, commercial liability umbrella, professional liability, workers’ compensation, and small business life.

A nationwide network of agentsLimited deductibles compared to other insurers
Has local agentsThe online quoting system is not available for mobile or manufactured homes sometimes
Various types of coverage with other endorsements and add-ons (e.g, in-home business endorsements)Discounts are not for all states
Committed to customer convenience with user-friendly mobile app
Many discounts for policyholders


The average cost of State Farm’s commercial insurance policies is affected by different factors, such as your business’s location, industry, gross sales, employees, payroll, policy limits, endorsement, deductibles, experiences, and claims history. It usually ranges from $22 to over $179 per month.

4. Insureon – Hassle-Free Business Insurance

Insureon – a hassle-free business insurance

Insureon is an insurance marketplace with multiple top carriers. It offers a variety of insurance and enables you to compare numerous quotes from different A-rated carriers so that it’s more effortless for you to choose the best type of insurance for your business.

After considering different carriers in terms of price, coverage extent, exclusions, deductibles, and other factors, you can easily choose a suitable one without applying for a quote from each carrier.

Insureon gets your back with essential cost-effective insurance coverage through its partner carriers to keep your business safe and minimize the loss from the unexpected. All the essential coverage includes general liability insurance, business owner’s policy (BOP), professional liability insurance, commercial property insurance, workers’ compensation insurance, cyber liability insurance, and more.

Besides, Insureon also partners with carriers to provide more specialized coverage types, such as liquor liability insurance for restaurants or builder’s risk insurance for construction companies. So if you’re in these fields, you can consider getting a quote from Insureon.

Approach multiple quality carriers from a single marketplaceOffer the online quote for only eight insurance products. You have to call Insureon to get quotes for other types of coverage
A huge collection of coverage typesInsureon doesn’t address the issue of policy, any policy questions or claims will be sent to the carrier
Offer hundreds of licensed representatives to communicate with you about your insurance options


Insurance costs of Insureon’s coverage are estimated through an analysis of 28,000 small business owners who purchased commercial insurance from Insureon.

Accordingly, the average cost of general liability insurance – the first and also the least expensive option that small businesses need – was $42 per month or $500 per year. The cost of a business owner’s policy, bundling general liability with property insurance at a discount, was monthly $53 or $636 per year.

Additionally, many business owners pay less than $1000 annually for cyber liability insurance; others pay between $1000 and $2000 per year.

See more small business insurance costs of Insureon in the graph below:

The median cost of small business insurance by policy (source: Insureon)

5. Next Insurance – Small business insurance has never been easier

Next Insurance – make small business insurance easier

Next Insurance is best for fast insurance coverage. Small business owners usually need to buy instant insurance in some situations. For example, when you’re going to apply for a business loan, and you need to show proof of insurance to get accepted by the lender for the loan. Insurance guarantees that you can pay back the loan and increases the trust of the lender in you.

Next Insurance offers fast online insurance, a great solution in such cases. It enables you to request an online quote and tailors the coverage specialized to your industry so that you can complete all the steps in minutes.

Next Insurance offers the four most essential business insurance products: general liability insurance, professional liability insurance, commercial auto insurance, and workers’ compensation insurance.

Take under 10 minutes to get a quoteBOP and property insurance are not available
Get proof of insurance and file a claim onlineOffer only six insurance products
Custom policies tailored to each industry
No additional charge for monthly premium payment
Quick response to customers


Next Insurance charges some of the lowest premiums on the market. The best way to get an accurate cost is to apply for an online quote, which sometimes requires you to answer some additional questions.

Here’re the starting rates for business insurance of Next Insurance:

  • General liability: General liability coverage starts at $150 annually for fitness trainers and $450 for handypersons. No deductible is available in general liability policies. Premiums start at $750 per year.
  • Professional liability: Various premium options and a deductible of $2000.
  • Commercial auto: Various premium options are available, and there is a deductible of $0, $500, or $1000, depending on your state and policy.