Safeguarding businesses against unexpected threats requires comprehensive insurance. To provide businesses with adequate coverage, the top providers offer tailored policies tailored to each operation’s individual needs with outstanding customer service and an impressive track record in handling claims efficiently.
Travelers provides an impressive portfolio of business policies for fitness professionals and Amazon sellers alike. Additionally, their Business Owners Policy bundle combines property and liability protection. In addition, there are industry-specific packages tailored specifically for each industry such as fitness professionals or Amazon sellers.
1. Travelers
Travelers provides businesses with a broad selection of business insurance solutions, from property and general liability policies to its signature TravPay service that links payroll directly with workers’ comp premiums and TravComp, an injury tracking system. Travelers’ commercial umbrella and excess liability policies also offer additional protection from large claims.
The company boasts an outstanding standing in the insurance industry, boasting an exceptional customer satisfaction score and low number of complaints. J.D. Power’s 2021 U.S. Insurance Shopping StudySM awarded them top ratings while AM Best gave them an A++ financial strength rating.
Travelers scored highly in NerdWallet’s review due to its wide selection of coverage options, flexible payment terms and user-friendly online tools such as an intuitive app for tracking policy status and paying bills. For more details, check out NerdWallet’s full review of Travelers.
2. Progressive
Progressive is one of the best-known providers on the market, thanks to their iconic avatar Flo that appears in many commercials. While their personal auto coverage may be adequate, NAIC trend reports show they lack an extensive business product offering and have experienced more customer complaints than expected in recent years.
The company provides a small business owner policy with liability and property coverage, but does not provide standalone commercial property policies or other specialized coverage options such as technology errors and omissions or workers’ compensation coverage directly. Instead, they work with both affiliated and non-affiliated insurers to underwrite such policies, with different processes for reporting claims depending on which insurer is involved.
However, they offer online claim reporting and management, with excellent customer service ratings. In addition, they have competitive prices.
3. The Hartford
The Hartford is home to over one million small business clients and offers an expansive portfolio of insurance products, such as its business owners policy which covers liability, property and auto. Additionally, The Hartford provides specialty policies tailored specifically for industries like arborists and landscaping; associations/nonprofits; contractors/construction; cultural -and manufacturing.
The Hartford has an outstanding customer satisfaction rating. In 2024 J.D. Power home insurance study, they earned 626 out of 1000 marks; business insurance received five stars as well. Unfortunately, however, their limited availability may pose some concern to potential customers. To learn more about them you can either visit their website or speak with one of its representatives in person; The Hartford is part of The Hartford Financial Services Group Inc and located in Hartford Connecticut.
4. State Farm
State Farm is an established brand known for offering generous coverage options and discounts, banking products, as well as customer satisfaction and claims handling excellence. Their auto policy ranks among the most popular in the US; customer reviews give State Farm high marks when it comes to customer satisfaction and claims handling. They also offer homeowners, condo and renters insurance with optional identity theft protection coverage for an additional cost; boat and personal umbrella policies round out their offerings.
JD Power’s 2024 U.S. Insurance Digital Experience Study awarded them above-industry average scores for digital shopping experiences, and Apple and Google both gave them excellent reviews in their App Stores and Play stores.
State Farm stands out with its local network of agents as an attractive feature; however, some policyholders have reported being dissatisfied with their experiences with State Farm; in particular several families affected by Colorado’s East Troublesome fire filed lawsuits alleging undervaluing and delayed payments on claims filed by them against them.
5. NEXT Insurance
NEXT Insurance caters to small business owners with limited funds who require essential coverage but don’t want to go beyond their budget for it. Their offerings include general and professional liability as well as commercial auto policies with add-on policies available and special bundle discounts, covering over 600 business categories such as carpenters and personal trainers to restaurant owners and hairdressers.
Simply sign up and get insured online within minutes, receiving instantaneous coverage and even instantly generating a certificate of insurance to show clients and gig providers.
NEXT Insurance Services is an ideal option for small businesses that don’t require more specialized coverage such as key person or builder’s risk insurance policies. Their policies cover common forms of coverage while their digital portal or claims advocate makes managing them simple.
6. Simply Business
Simply Business is a UK-based insurance broker that makes the process of finding business insurance easier. They use an easy online questionnaire to assess risks and needs unique to your business before providing policies that match up. Plus they provide tools to tailor policies specifically and compare quotes from multiple providers!
As they don’t provide details of average costs across policies or industries on their website, costs for your specific needs may differ based on factors like size, industry risk, revenue and claims history. Policies can typically be purchased online; alternatively you can call their specialist team for further coverage options.
This company was created with the purpose of helping small business owners locate insurance coverage tailored to their unique needs. They are dedicated to giving back and supporting their communities through various initiatives, and are B-Corp certified (a certification given to companies who commit to improving their social impact).