No matter how small your business is, you cannot assume everything will run smoothly without something unfortunate happening let us talk about the best general liability insurance.

best insurance companies

 Top Insurance companies

Businesses and individuals need to take risks from time to time to succeed. If something goes wrong, something happens, and the company loses a lot of value, profits, or even people, you’ll need a backup plan.

In order to protect themselves against various types of accidents and losses, small businesses often get insurance. Due to the complexity of the policy, picking the right insurance company isn’t easy, so we compared multiple companies.

Check out the end to find out which insurance company is right for you.

Here are the best insurance companies for small businesses:

  • 1. Hiscox – lots of coverage for small businesses
  • 2. Hartford – quotes for home, auto, and business
  • 3. State Farm – auto, life insurance, banking, and more
  • 4. Insureon – business insurance without hassles
  • 5. Next Insurance – Small business insurance made easy
  • 6. TruChoice – Independent Insurance Agents
  • 7. Security – Business Insurance
  • 8. TechInsurance – Business Insurance for tech
  • 9. National Insurance Services
  • 10. Personal and Business Insurance for Travelers

Let’s dig into the details

The 5 best general liability insurance companies

5 The best insurance companies for businesses

so let us mention the best general liability insurance:

1. Hiscox – Big coverage for small business

With Hiscox, small businesses can enjoy fast, reliable, and affordable coverage. A leading specialist insurer in the United States, Hiscox has a long history of protecting businesses.

Architecture & engineering, beauty, commercial maintenance, consulting, fitness, health, home services, marketing, real estate, therapy, and retail are some of the industries the company serves. Hiscox will provide you with a fast and free quote if your company’s expertise is not listed.

Among the types of business insurance we offer are professional liability, errors and omissions, general liability, workers compensation, business owner’s insurance, cyber liability, and short-term liability.

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

Pricing

Each client’s insurance needs are tailored to their specific industry, location, business size, and insurance type. Insureds at Hiscox pay $350 a year for general liability. Hiscox’s three types of insurance premiums are as follows:

  • Liability coverage for professionals starts at $22.50
  • for general liability coverage and $29.17 for professional liability coverage
  • $41.67 is the starting price for a business owner’s policy

It charges only $22.50 per month for coverage for small businesses and independent contractors.

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

In contrast to other insurance companies, Hartford offers multiple insurance policies and packages tailored to industry-specific needs.

Your business is protected from lawsuits and costly damages caused by accidents, natural disasters, professional errors, and workers’ compensation. With over 30 years of experience helping small businesses, we are the best company to stand behind you.

Three essential coverages are included in the Hartford Business Owner’s Policy (BOP):

  • In the event of property damage, personal injury, or advertising injury claims, business general liability insurance protects your company from financial losses.
  • Your business premises, tools, and equipment are protected by business property insurance.
  • A business income insurance policy protects you if your business is canceled due to an unfortunate event, such as a fire or theft.

You’ll need more protection as your business grows to protect the likelihood you’ve worked so hard to create. Your Hartford insurance coverage can be expanded based on the level of risk your business faces. Your risk level is taken into account when providing a quote.

The following are some types of coverage you may face as you grow your business:

  • Wages and salaries of employees
  • of the automotive industry
  • covered by professional liabicoverage for cyberattacks cyber threats
ProsCons
There are several industry-specific coverages, so online quotes may not always be accurate, so it’s best to speak directly with an agent
Coverages can be customized to meet specific needsSince The Hartford is affiliated with AARP (American Association of Retired Persons), coverages are only available to AARP members
Assisted by knowledgeable and enthusiastic specialists
providing a wide range of convenient and high-quality services
Outstanding customer service
All 50 states are covered

Pricing

Hartford’s pricing depends on a variety of factors, including its location, its industry experience, and its type of business.

A quote can only be provided when you apply for coverage. Stretch, Stretch Plus, Super Stretch, and Premier Stretch are the four levels of coverage offered by the BOP. For small businesses, Stretch is the most affordable level.

To estimate insurance costs, it is also necessary to include lawsuits, since when a claim has been filed and results in a lawsuit, the insurance cost will increase.

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

A retired farmer founded State Farm in 1922, G.J. Miller. The company has provided auto and home insurance since G.J. Meine sold his first automobile policy.

Managing the risks of everyday life, recovering from the unexpected, and realizing dreams is State Farm’s goals. The company has maintained the highest standards of integrity based on the founding motto: “Honesty is the best policy, it is the only policy.”.

It offers a wide range of insurance coverage across the country, which makes it one of the best insurance providers. Aside from offering excellent auto insurance, State Farm also offers small business insurance to protect and grow your business.

Based on the stage of your business, State Farm offers different insurance products, such as startup, growing, maturing, and changing ownership. Let’s say you have just started your business. The policies essential to small businesses include business owner’s policies, business and commercial auto insurance, health insurance for individuals, commercial liability umbrella insurance, professional liability insurance, workers’ compensation coverage, and life insurance.

ProsCons
A nationwide network of agentsLow deductibles compared to other insurers
Has local agentsbut the online quote system isn’t always available for mobile homes or manufactured homes
Other endorsements and add-ons can be added (e.g., in-home business endorsements)Discounts are not for all states
Committed to customer convenience with a user-friendly mobile app
Many discounts for policyholders

Pricing

State Farm’s commercial insurance policies are priced based on a variety of factors, such as your business’ location, industry, gross sales, employees, payroll, policy limits, endorsements, deductibles, claims history, and experience. Costs typically range from $22 to $179 per month.

4. Insureon – Hassle-Free Business Insurance

We make business insurance easy with Insureon

Insureon represents several top insurance companies. It provides multiple insurance options and lets you compare multiple quotes from different A-rated carriers so that you can easily choose the right insurance for your business.

After comparing the price, coverage extent, exclusions, deductibles, and other factors of each carrier, you can choose the one that’s right for you.

The partnership between Insureon and leading insurers keeps your business protected and minimizes losses through essential and cost-effective insurance coverage. GA business owner’s policy (BOP), general liability insurance, professional liability insurance, commercial property insurance, workers’ compensation insurance, cyber liability insurance, and more make up the essential coverage.

Insureon also works with carriers to provide more specialized coverage types, including liquor liability insurance for restaurants and builder’s risk insurance for construction companies. As such, Insureon can provide you with a quote if you are in these fields.

ProsCons
Provide a single marketplace from which to access multiple insurance carriers. Offer an online quote for only eight insurance products. If you need other coverage, you must contact Insureon.
A huge collection of coverage typesis available through insurance, but any policy questions or claims must be addressed directly with the insurer
insurance offers hundreds of licensed agents to assist you with your insurance needs

Pricing

Insureon estimates its insurance costs for its coverage on the basis of an analysis of 28,000 small business owners.

Generally, a small business needs general liability insurance – the cheapest and first option – for an average of $42 per month or $500 per year. The cost of a business owner’s policy, which bundles general liability and property insurance, is $53 per month or $636 per year.

Moreover, many business owners spend less than $1000 annually on cyber liability insurance; others spend between $1000 and $2000.

Insureon small business insurance costs are illustrated in the graph below:

(Source: Insureon) The median cost of insurance for small businesses

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

With Next Insurance, small business insurance is easy

Next Insurance offers fast insurance coverage. Small businesses sometimes require instant coverage. To get accepted by a lender for a business loan, you must provide proof of insurance. It increases the lender’s trust in you to know you will be able to repay the loan if you have a policy.

Next Insurance offers fast online insurance, a great option in such a case. In minutes, you can get an online quote and customize the coverage according to your industry.

We offer four essential insurance products to businesses: general liability insurance, professional liability insurance, commercial auto insurance, and workers’ compensation insurance.

ProsCons
Get a quote in under 10 minutesBOP and property insurance are not available
Online proof of insurance and claim filingOffer only six insurance products
for each industry
No additional charge for monthly premiums
Quick response to customers

Pricing

Next Insurance has some of the lowest rates in the business. By filling out an online quote, you can get an accurate estimate, which may require some answers.

Here’s what Next Insurance’s starting rates are for business insurance:

  • Fitness trainers and handymen can get general liability insurance for $150 a year. No deductibles. Prices start at $700.
  • For professional liability, there are a few premium options and a $2000 deductible.
  • Multiple premium options are available for commercial auto coverage, and deductibles range from $0 to $1000, depending on your state.

Summary

Insurers consider the following companies to be the best for businesses:

  1. With Hiscox, small businesses have big coverage.
  2. Hartford – home, auto, business insurance quotes.
  3. We’re State Farm. We’re auto, life, banking, and more.
  4. Get hassle-free business insurance with Insureon.
  5. The next generation of small business insurance.

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