BEST SMALL BUSINESS INSURANCE COMPANIES & BROKERS IN 2022 (updated)

Best-small-business-insurance-companies

Small business insurance companies, small business insurance broker, cheap small business insurance, quote for small business insurance, best small business insurance companies, top small business insurance companies.

SMALL BUSINESS INSURANCE COMPANIES

Basically, your business is your greatest and most valuable asset; keep it safe with a business insurance policy. Moreover, business insurance can help pay the costs of property damage, lost business income, lawsuits, and other specific risks of running a business.

The general liability coverage is recommendable for all businesses, but your business insurance needs will vary depending on several factors, including the number of employees, location, and industry.

Furthermore, find the right coverage for you by taking a look at the best small business insurance companies of 2022. Then having the knowledge of insurance companies to choose or be suitable for your business is a step to success. Especially for small businesses.

Some of the notable insurance companies for small businesses include:

  • Firstly, the Hartford- Best Comprehensive Option
  • Secondly, nationwide – This is Best for General Liability Insurance
  • Thirdly, state Farm – It is Best for Commercial Liability Insurance
  • Fourthly, progressive – One of the best for Commercial Auto Insurance
  • In addition, cyber policy – Especially for Business Insurance Marketplace
  • Finally, thimble – The thimble is best for Micro Businesses
  • Liberty Mutual – Umbrella Insurance suits the liberty mutual

SMALL BUSINESS INSURANCE BROKER COMPANIES

When small business brokers-companies need insurance, they have three options: buy directly from a carrier, work with a captive agent who can only sell policies from one carrier, or go to a broker.

In addition, small business insurance broker insurance companies can sell policies from multiple carriers, thereby giving you an easy way to compare offers. More importantly, small business insurance broker companies work for you and not the carriers. So their top concern is finding quality coverage for your business.

However, this article is about small business insurance broker companies, so we researched popular online options to find the best insurance brokers for small business owners. The seven that made our final list are:

Coverwallet: Overall for its carrier partners, easy-to-use platform, and expert assistance· 

2. Simply Business: For sole proprietors and micro-businesses that need general liability and professional liability insurance

3.  CyberPolicy: Best for cyber liability insurance and cyber security resources

4· Embroker: Especially for high-growth startups with venture capital backing.

5·  Insureon: Compartible for high-risk contractors who’ve seen multiple declines

6·  Layr: Mainly for coverage within 48 hours

7·  Thimble: Suitable for short-term liability policies

These are notably the best small business insurance broker available online. Each has its own pros and cons as well. However, cover wallets have been ranked the best because of their outstanding features and greater benefits.

CHEAP SMALL BUSINESS INSURANCE COMPANIES

Generally, insurance is one of the best decisions you can make for your business. It’s any policy or insurance product for small business owners to buy to protect them from legal liability. Most times cheap small business companies get confused on which of the insurance to use.

Especially ones that are cheap small business insurance companies or pocket-friendly for their small business. However, the type of coverage you purchase will depend on what type of business you run. But when people in finance and law talk about “cheap small business insurance companies,” they’re usually referring to one of the following:

Professional liability insurance: This basically protects you from professional negligence claims.

General business liability insurance: This protects businesses from claims related to firstly, personal or bodily injury, secondly, advertising, thirdly product-related liability, and finally, property damage.

Workers’ compensation insurance: This protects your employees in case of injury or sickness.

Commercial auto insurance: This protects the vehicle(s) you use to carry out your business.

Commercial property insurance: This protects the land, buildings, property, and equipment owned by your business.

Meanwhile, there are a number of cheap small business insurance available for small businesses. Hence if you’re looking for cheap small business insurance companies that won’t break the bank, these three insurers are a good place to start.

The Hartford: This offers cheap insurance for small business with a competitive price (starting at $400 annually). With general liability insurance policies for small to medium-sized businesses in most industries.

Hiscox: Also, this is a good bet if you’re a sole proprietor or independent small business owner. Because their basic general liability insurance package starts at $22/month.

State Farm : There is also state farm which offers a comprehensive business owner’s policies starting at $500 annually.

QUOTE FOR SMALL BUSINESS INSURANCE COMPANIES

Quote for small business insurance companies can vary a lot from company to company. Because the quote for small business insurance companies differs from one another.

However, don’t settle for the first policy you come across. Rather ask a few insurers for small business insurance quote companies and compare the rates they give you. Remember don’t feel compelled to buy all of your insurance from one provider, either.

Some of these quote for small business insurance companies include both general liability and other components of insurance:

Furthermore, the average price of a standard 10000002000000 General Liability Insurance policy for small businesses ranges from 27 to 39 per month. However, it is based on location size payroll sales, and experience.

BEST SMALL BUSINESS INSURANCE COMPANIES

 Logically speaking, you can never expect everything will go smoothly without something unfortunate happening in running your business. Also, you already know that sometimes businesses and people need to take a risk to achieve their goal.

However, if things go wrong like accidents, and make a loss of significant value, profits, or even the people of the company. Then you need a backup plan or something like that to protect your business and all of the employees in it. Moreover, quotes for small businesses differ depending on the purpose read down below for details on various companies and specifications.

Furthermore, many small businesses choose the best insurance companies to protect themselves from many types of accidents and losses. Therefore, knowing that choosing the best small business insurance company is not as easy as the policy is quite complicated. Meanwhile, we’ve compared multiple insurance companies to filter out the best options for small businesses.

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

  • Firstly, Hiscox – Big coverage for small business
  • Secondly, The Hartford – Business, Home & Car Insurance Quotes
  • Thirdly, State Farm – Auto, Life Insurance, Banking, & More Insurance
  • Fourthly, Insureon – Hassle-Free Business Insurance
  • Another, Next Insurance – Small business insurance has never been easier
  • Finally, Suracy – Business Insurance

HISCOX

Basically, Hiscox claims itself a big, fast, affordable coverage for small businesses. Moreover, it is a USA-leading specialist insurer with a long history of protecting businesses. Furthermore, the company serves worldwide customers in various industries. Including architecture & engineering, beauty, commercial, maintenance, consulting, fitness, health, home services, marketing, property, and therapy.

In addition, 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, cyber security, short-term liability, and more.

ProsCons
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 

 However, Hiscox charges a minimum premium of $350 per year for its general liability insurance. Hence the costs of the three types of insurance that Hiscox offer are:

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

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

HARTFORD

Generally, 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.

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

  • General Liability Insurance: protects your business from financial costs of First, property damage, second, 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.

 Now that Hartford is scalable to scale up with you. However, its BOP’s latest update offers four levels of coverage options. Which include: Stretch, Stretch Plus, Super Stretch, and Premier Stretch.

Meanwhile, the Stretch level covers the most common risk that small business owners may face and costs about $100. Moreover, Hartford prices are varied and affected by different factors. And that as such exposure to first, risk, then, business location, secondly, experiences in business or industry, Next, business types, and Finally, your deductible.

ProsCons
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 

STATE FARM

Basically, State Farm’s mission is to help people manage the risks of their everyday life, recover from the unexpected, and realize their dream. Moreover, it offers nationwide types of insurance coverage, making it one of the best overall insurance companies. Plus the best automobile insurance in the U.S.

Furthermore, it offers you different insurance products depending on your business stage, including starting up, growing, mature, and changing ownership.  Usually, it ranges from $22 to over $179 per month.

ProsCons
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 

INSUREON

Insureon is an insurance marketplace with multiple top carriers. Hence, this best insurance company for small business gets your back with essential cost-effective insurance coverage.

Besides, Insureon also partners with carriers to provide more special coverage types, such as liquor liability insurance for restaurants or builder’s risk insurance for construction companies.

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. Moreover, the cost of a business owner’s policy, bundling general liability with property insurance at a discount, was monthly $53 or $636 per year.

ProsCons
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 

NEXT INSURANCE

This is basically the best for small business owners who usually need to buy instant insurance in some situations. Furthermore, next Insurance offers fast online insurance, a great solution in bad cases. Hence, next Insurance offers the four most essential business insurance products. Such as general liability insurance, secondly, professional liability insurance, thirdly, commercial auto insurance, and finally, workers’ compensation insurance.

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

  • General liability: General liability coverage usually starts at $150 annually for fitness trainers and $450 for handypersons. No deductible is available in general liability policies. Moreover, 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.
ProsCons
Take under 10 minutes to get a quoteBOP and property insurance are not available
Get proof of insurance and file claim onlineOffer only six insurance products
Custom policies tailored to each industry 
No additional charge for monthly premium payment 
Quick response to customers 

SURACY

Generally, Suracy offers national business insurance programs that support a broad range of franchises, small and larger businesses, and organizations. It is especially a great option for small businesses.

Moreover, you can find appropriate insurance solutions to thrive your business with safe and transparent policies. Hence the company covers a large selection of insurance options, including:

  • Firstly, Professional liability insurance
  • Secondly, Workers’ compensation insurance
  • Then, General liability insurance
  • Next, Business owner’s policy
  • Another, Commercial property insurance
  • Thirdly, Cyber liability insurance, disability insurance
  • Next, Employment liability insurance
  • Then, Commercial auto insurance
  • Fourthly, Medical malpractice insurance
  • Lastly, Paid family leave
ProsCons
Streamlined distribution across locationsInsurance provided by third-party affiliates
Customize insurance policies addressing businesses’ needs 
Offer useful tips and resources for businesses 

TOP SMALL BUSINESS INSURANCE COMPANIES

Following this post, we would understand the need of insurance companies to small businesses especially the best ones.

Generally, many small businesses choose insurance to protect themselves from many types of accidents and losses. However, knowing that choosing a suitable insurance company is not as easy as the policy is quite complicated.

Here is a list of the top small business insurance companies available:

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

CONCLUSION

Generally speaking, the best small business insurance companies are the ones their services are top-notch!.

  1. BEST PROFESSIONAL LIABILITY INSURANCE: 6+ Best Professional Liability Insurance Companies 2022
  2. Business Liability Insurance: Definition, Costs, Coverage & Cost-Effective Options
  3. PROFESSIONAL LIABILITY INSURANCE COMPANIES: 7+ Best Liability Insurance Companies
  4. GENERAL LIABILITY INSURANCE FOR SMALL BUSINESS: Cost and Best Options
  5. General Liability Insurance Policy: For Businesses

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