When you run your own business, you need to protect it from potential dangers, such as property damage, lawsuits, etc. After all, your business is not just your passion project - it’s your livelihood, too. If you have employees, the need for insurance is even greater.
Also, not only is it prudent to insure your company, it’s also required by law. But how should you choose the best small-business insurance for your company when there are so many insurers on the market?
The Hartford Review
EXCELLENT
EXCELLENT
EXCELLENT
EXCELLENT
EXCELLENT
- ⦿ Wealth of experience
- ⦿ World-class customer support
- ⦿ Fantastic comprehensive coverage
Nationwide Review
EXCELLENT
GOOD
EXCELLENT
EXCELLENT
EXCELLENT
- ⦿ High BOP coverage limits
- ⦿ Rich resource center
- ⦿ Unmatched financial stability
Progressive Commercial Review
GOOD
EXCELLENT
GOOD
GOOD
EXCELLENT
- ⦿ Leader in commercial auto policies
- ⦿ Low monthly premiums
- ⦿ Variety of discounts
Allstate Review
GOOD
EXCELLENT
EXCELLENT
GOOD
EXCELLENT
- ⦿ Great source of knowledge
- ⦿ Huge network of agents
- ⦿ Knowledgeable support staff
Farmers Review
GOOD
EXCELLENT
GOOD
EXCELLENT
EXCELLENT
- ⦿ Highly competitive prices
- ⦿ 24/7 customer support
- ⦿ Great general liability policies
Geico Review
GOOD
GOOD
GOOD
GOOD
EXCELLENT
- ⦿ Rideshare insurance
- ⦿ Online quotes
- ⦿ Financially strong
Hiscox Review
GOOD
EXCELLENT
EXCELLENT
EXCELLENT
EXCELLENT
- ⦿ Preferred choice for home-based business owners
- ⦿ Extensive coverage options
- ⦿ Fantastic customer support
Related Product Categories
Top 5 Small Business Insurance Companies in 2022
- The Hartford
- Nationwide
- Progressive Commercial
- Allstate
- Farmers

Our Methodology
Types of Small-Business Insurance
When weighing insurance providers against each other, we look at each insurer’s business owner’s policy (BOP) and additional insurance products. Intended for small to mid-sized businesses, a BOP normally includes commercial property and general liability insurance for small business. Bundling up these two types of insurance saves you money on premiums.
OvoHowever, a BOP won’t provide enough coverage for most businesses. To create a policy that matches the needs of various professions, insurers enable clients to combine their basic BOP with other insurance policies, like commercial auto, workers’ compensation, errors and omissions, and many more. We have explored and analyzed the offer of the top small-business insurance companies and included only the ones with the most robust selection on our list.
Availability of Important Information
If you’ve just started a business, organizing workflow, learning the ABCs of bookkeeping, and running payroll for your LLC will initially probably consume a lot of your energy and time. Insurance can be complicated, too, so you can find yourself overwhelmed by all the information you need to take into account before deciding which policy to get.
Industry-leading insurers try to simplify the process for you. We evaluated companies that offer insurances for small business owners based on how upfront they are with potential clients. We also searched for explanatory articles, fact guides, and glossaries. A clear list of items a policy includes and excludes can be extremely helpful; a sample policy is even better. Any material that enables you to make an informed decision is a sign of an upstanding insurer.
Claim-Filing Procedure
In the unfortunate event of a worker getting injured, a natural disaster, or theft, you’ll need to file a claim to get paid by the insurer. In such a stressful time when your business and employees are under greater strain, you want a straightforward claim-filing procedure. Companies that provide the best general liability insurance for your small business are aware of this and try to alleviate some of that stress by making the claim-filing procedure as quick as possible.
Financial Stability
If an insurer has a long history and high revenue, it’s more likely to make good on larger claims. As a customer, you should definitely take the financial stability of a company into consideration. That’s why we, too, have made this one of our evaluation criteria. On our list of business insurance companies, you’ll find only reputable companies that have high scores from credit rating institutions like AM Best, S&P Global, and Fitch.
Pricing
When looking for a small-business insurance policy, many business owners are tempted to save some money on it. However, with a cheap small-business insurance, you won’t be able to cover your or your clients’ losses in their entirety. That’s why it’s always better to pay a bit more to protect yourself and your business property. In our review, we looked for the most affordable yet reliable providers.
Generally, insurers don’t share pricing information on their websites. You’ll need to provide your business information by filling out a form on the company’s site to get a quote. This is understandable - after all, there are so many factors that influence the small-business liability insurance cost that a one-size-fits-all approach simply doesn’t work.
Customer Support
Building on the previous criteria, we also checked how prompt each company’s customer support departments are in response to inquiries. When you trust an insurance company to protect your business and make regular monthly payments, you deserve quick and straightforward service.
The more channels of communication an insurer offers, the better. Nowadays, it’s customary that top-rated business insurance companies offer 24/7 client care. Apart from availability, we also evaluated the timeliness and helpfulness of the answers.
If you’d like to know what insurance for business your potential partner is using, just ask them. When entering into a business agreement with a new associate, it’s better to be safe than sorry. Inquire about the type of coverage they have and ask to see their certificate of liability insurance. After reviewing the certificate, you’ll know what they are insured against and whether it would be risky to collaborate.
If you are just opening your first company, the abundance of options may confuse you. But keep in mind that every small-business needs at least a business owner’s policy (BOP, for short). It combines general liability insurance for business and commercial property insurance into one policy. Additional coverage is also recommended and will depend on the type of business you run.
It’s impossible to give a one-size-fits-all kind of answer to this question. The number of employees, the industry you work in, the size of your business, and your previous claim history are all factors in determining the price of your policy. Though you might be tempted to buy cheap general liability insurance for small business from a local insurance company, we’d advise you against it. Getting insurance from a financially stable carrier moves the price north, but at least you’ll be sure you get paid out in case of a mishap.
Yes, you do. You most certainly need general liability because accidents happen. Even if you work in what most would consider a “safe” environment, someone could slip and fall in your office and sue you. Business insurance cost is nothing compared to medical and legal bills, which can add up in no time and potentially even run your business into the ground. Luckily, the best small business insurance companies include this type of coverage in a BOP.