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The Best Business Insurance Providers

Where Can You Find the Best Business Insurance?

In a world becoming more legally sensitive, protecting your company from accidents, property damage, or injuries is critically important. It plays a pivotal role in safeguarding a business against a a myriad of risks. And in many states and industries, it's not just a good idea but something you have to do.

Even where it's not required, business insurance is a popular idea. In today's world, companies operate in an environment fraught with risks, ranging from natural disasters and accidents to legal liabilities. Without insurance, these events could lead to substantial financial burdens that might cripple or even bankrupt a business. Insurance policies act as a financial cushion, ensuring that a business can recover and continue operations.

Friday, February 23rd

2024 Business Insurance Provider Reviews

Top Consumer Reviews Best-In-Class Blue Ribbon Award Thimble Review 5 Star Rating

Thimble

5 Star Rating
  • "A+" rating and accreditation from the BBB
  • On-demand coverage for an hour, a day, or a month
  • Pause coverage once per policy for 30 days if you are a monthly customer
  • Policy options encompass General Liability, Professional Liability, Errors and Omissions, Business Equipment
  • Handy app helps you get immediate coverage
  • Zero cancellation fees
  • All policies entail a $0 deductible and provide coverage limits of $1 million and $2 million
  • Seamlessly add Additional Insureds and crew members in real time
Top Consumer Reviews Best-In-Class Blue Ribbon Award

Thimble presents an innovative way to secure insurance for your business. It initially launched under the name Verifly in 2016, focusing on liability insurance for drone operators. Since then, it has been acquired by Arch Insurance and grown to offer on-demand insurance for over 300 professions and 60,000 businesses.

Over 200,000 policies issued

All their Commercial General Liability policies are backed by Markel Insurance Company as well as National Specialty Insurance Company. Each of these are Fortune 500 companies and with an "A" rating from A.M. Best. Since its inception in May 2018, Thimble has issued more than 200,000 policies covering over $150 billion in value.

Numerous industries covered

Wondering if your industry is a good match for business insurance from Thimble? You can simply search for your specific field; a few examples include Contractors/Handymen, Landscapers, Janitors/Cleaners, Event Organizers/Vendors/Entertainers, Consultants, Photographers/Videographers, Hair and Beauty Professionals, Fitness/Personal Trainers, even Pet Sitters. Since our last review, we've discovered that, despite its early beginnings, Thimble no longer covers drone operators.

Short-term coverage available

The standout feature of Thimble is speed and flexibility. Let's say you need to furnish proof of insurance for a proposal you're submitting for a web design contract, but you're not entirely certain if you'll land the gig. Would you be eager to spend a lot on coverage that you might not even use? Probably not. Thimble allows you to nearly instantly purchase short-term policies, whether it's just an hour, a day, or a month, and receive your Certificate of Insurance on the spot.

Get business insurance coverage within minutes

We did just that and submitted a request for a quote of coverage for a web design business. Within 5 minutes we had a quote in hand and could purchase hourly, monthly or yearly coverage instantly. The quote was lower than most of the other companies we looked at and the process was by far the fastest we experienced.

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Some industries are better-covered than others

The only hiccup was when we experimented with applying for web developer coverage, which is a slightly different discipline from web design. Thimble asked additional questions about whether we'd be affecting financial transactions and whether we would be doing work for companies with more than 50 employees. We couldn't answer in the affirmative on either because, in the fairly common scenario we came up with for developing an ecommerce website for a larger company, our answers wouldn't be true. So, we were unable to proceed to the final quote.

Excellent for non-traditional coverage for small businesses

Even so, Thimble serves as an ideal source of insurance for small businesses that need non-traditional coverage and may need help to secure the policies they require with other providers. In fact, approximately 75% of Thimble's customers had never bought business insurance before choosing this service. What's more, you can register for a Thimble policy directly through their smartphone app. If you're on the move and require instant coverage, this is the sole service we're aware of that is capable of delivering it. You can even add extra personnel to the policy in real time, ensuring your entire team is well-covered.

Pay attention to coverage details

You don't even need to install the app to obtain a quote. Just visit the Thimble website, input your zip code, and specify your line of work. Make sure to review the activities included in your policy to avoid any unexpected exclusions. For instance, pet sitting coverage encompasses services such as sitting, grooming, training, and walking, but doesn't extend to injuries sustained by the pets you're caring for.

No surprises on premiums

One of the most appealing aspects of Thimble is its pricing transparency. While many insurance companies involve cumbersome processes that frequently require communication with agents, Thimble's pricing is crystal clear. To illustrate, for pet-sitting business insurance, you can get a monthly plan costing $116.83.

Long-term coverage might be better in the long run

In numerous cases, shorter-term plans come at a higher cost. According to Thimble, this pertains to some insurance calculations linked to risk. Consequently, it might be prudent to opt for longer coverage, even if your specific needs aren't entirely certain. Moreover, if you cancel prior to your policy's completion, Thimble (at its discretion) will reimburse you for the remaining prorated amount, and no cancellation fees will nibble away at your refund.

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Business owners love this insurance company

Client feedback for Thimble is overwhelmingly positive. On Trustpilot, an impressive 95% of individuals who've used Thimble for their business insurance have awarded it a 4- or 5-star rating. Users like Thimble for its user-friendliness and affordability. Many customers have underlined the invaluable ability to secure a Certificate of Insurance within minutes, a game-changer for crafting proposals that align with clients' prerequisites and speeding up payment for completed jobs that hinged on proof of coverage. And, over its 7 years in business, Thimble gets an "A+" rating and accreditation from the Better Business Bureau with only 6 complaints in 3 years and 3 complaints closed in the last 12 months.

One minor downside

The only downside to Thimble's business insurance offering is its intense focus on industries that often need coverage for brief durations. This specialization limits the types of coverage they extend. For instance, you won't encounter options for commercial auto or life insurance. However, new to their offerings since our last review is workers' compensation for various categories.

Ideal insurance solution for most small businesses

As a result, Thimble earns the top spot in our rankings, providing genuinely unique insurance coverage that can furnish specific small businesses with cost-effective and time-limited policies unattainable elsewhere. Nevertheless, business owners with more conventional insurance demands may need to explore alternative options from traditional insurers instead of Thimble.

#1 option for business insurance

To sum up, Thimble is an outstanding solution, particularly tailored for freelancers, gig workers, and the self-employed. It boasts budget-friendly pricing and unmatched flexibility when it comes to swiftly securing business insurance coverage. It should come as no surprise that this company secures our highest recommendation.

Hiscox Review 4.5 Star Rating

Hiscox

4.5 Star Rating
  • Holds an "A+" rating from the Better Business Bureau (BBB)
  • Transparent and affordable pricing
  • Immediate policy availability
  • More than 100 years of industry experience

Hiscox is a longstanding name in business insurance, starting in the UK more than 50 years ago and broadening into the US market over the last two decades. Hiscox's range of online quotes includes General Liability, Professional Liability, and Business Owners Policies (BOPs). Should you require other types of coverage such as Commercial Auto, Umbrella, Workers Compensation, and the like, Hiscox provides an option to receive a quote online. However, for such cases, Hiscox redirects you to one of their third-party insurance partners to facilitate the process.

Easy-to-use online quote tool

If you're uncertain about the type of insurance that suits your needs, Hiscox offers a handy tool. You can locate it on the home page in the conspicuous red box labeled "Get a Quote". Add your zip code and then click through and answer a series of questions, delving into the nature of the services you provide and whether you own or lease your business space. Subsequently, you will receive a recommended list of suitable policy types. Hiscox's main business insurance page also offers an abundance of information for a more in-depth understanding of each coverage type.

Lots of questions to answer

To proceed with the quoting process for one of Hiscox's offered coverage types, you'll need to specify your state and profession. The quote generator will then recommend insurance types that correspond to the services you're likely to provide, and you can select the coverage you wish to include in your quote. The subsequent questions aim to gather pertinent details about your company, such as the number of employees and whether you produce any tangible goods.

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No phone call required

What sets Hiscox apart is its efficiency in providing a detailed quote for the specific coverage you've specified. Unlike many other business insurers, Hiscox doesn't leave you hanging, waiting to consult an advisor just to obtain an actual quote. This approach eliminates the guesswork and waiting game often associated with obtaining insurance.

Transparent, affordable premiums

The pricing for Hiscox policies is notably reasonable. For instance, for the small business General Liability quote we requested, the monthly premium was a budget-friendly $33.32, or $406.80 annually as a one-time payment. The flexibility to add supplementary coverage like Professional Liability or Business Property and Equipment and seeing the direct impact on premiums was incredibly convenient.

Coverage within minutes

We received an email with the quote details. The subsequent steps involved only took a matter of minutes to complete the application, make the payment, and receive confirmation that the policy was in effect. This streamlined process is a significant advantage over most business insurance providers, which often take hours or even days to provide coverage.

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Recent feedback isn't uniformly positive

Due to a somewhat more recent set of negative reviews, Hiscox has seen its Trustpilot rating average drop to 3.0 despite having over 95% in earlier 4- and 5-star reviews. It also seems to have dropped in its customer reviews rating at the Better Business Bureau from a 5-star rating to 1.2 stars and an unaccredited "A+" rating. A survey of customer sentiment through the BBB comments reveals a hefty number of complaints about policy price increases, mistaken large charges, and problems with refunds.

Some small businesses might not be eligible here

We identified another drawback when it comes to choosing Hiscox for business insurance coverage: some industries that typically involve contractors or freelancers are not included in their list of covered professions when compared to our highest-ranked insurer. For instance, pet/animal services such as dog walking and child care were notably absent from the list of covered professions. This omission might limit options for certain small business operators.

Reliable option for business insurance

It's not reassuring that Hiscox has experienced significant decreases in positive customer sentiment. Nonetheless, the majority of companies are likely to find the coverage they need when exploring insurance options with Hiscox. They are still a strong option given their longevity in the insurance marketplace and share of insurance underwriting overall.

BizInsure Review 4 Star Rating

BizInsure

4 Star Rating
  • Comprehensive business insurance, from general liability to professional liability
  • Digital tools streamline the process, allowing easy exploration of insurance options and quick quotes
  • "A+" BBB rating and few customer complaints
  • In business since 2007

Established in 2007, BizInsure is a relatively recent entrant to the insurance sector, primarily focusing on business insurance solutions. The company caters to the needs of a diverse clientele, with a particular emphasis on serving small and medium-sized enterprises. Unlike some long-standing industry players, BizInsure brings a contemporary approach to the insurance marketplace, aiming to simplify the often intricate process of obtaining business insurance.

Many types of business insurance offered

A distinguishing feature of BizInsure is its comprehensive selection of coverage options. Recognizing the variability in business operations and requirements, the company offers an extensive range of insurance policies to address these diverse needs. Clients can explore offerings such as general liability, professional liability, business owners' policies (BOP), commercial auto, workers' compensation, and more.

User friendly experience

The company's digital platform provides a user-friendly experience for clients. By offering online tools for quote generation and applications, BizInsure enhances accessibility and convenience. This digital approach allows clients to explore insurance options and request quotes without leaving their homes or offices.

Easy online quote process

To generate a quote, we searched for Web Site Design & Development Services and began filling out the usual requests for information about the business: number of employees, revenue, location, and contact information. Policy selections were already conveniently made for us. All we had to do was uncheck the ones we didn't want and fill in the amounts we needed for the replacement of property losses. Coverage is for a year and there is no way to extend or reduce that timeframe.

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You may still need to call

In our case, BizInsure was unable to provide an instant quote for a web design and development business because our situation was unique to their quoting engine. They did provide a toll-free phone number and email address as well as a quote reference number. It would have been more helpful to create an account retaining all the information we took the time to enter into the form so we don't have to repeat it to the insurance agent, so they could just look it up from what we entered.

Top-rated by the BBB

BizInsure has no presence on Trustpilot's rating system, but it does enjoy an "A+" accredited 4-star rating from the Better Business Bureau. It has only had 3 customer complaints in the last 3 years. And all three of those complaints were a result of miscommunication from the customer to the BBB. One was about a completely different company.

Worth considering for small- and medium-sized businesses

While BizInsure lacks the historical pedigree of some well-established insurance giants, and it couldn't provide a quote for our fairly common home-based business scenario, its specialization in business insurance and commitment to modernizing the insurance process make it a noteworthy player in the contemporary insurance landscape. Whether you run a small business or manage a medium-sized enterprise, BizInsure's approach and array of coverage options (if you can get all the way through their form to an instant quote) are worth considering when addressing your business's insurance requirements.

The Hartford Review 3.5 Star Rating

The Hartford

3.5 Star Rating
  • One of the oldest insurance providers in the United States
  • Diverse insurance products, including auto, home, business, and specialty lines
  • Fortune 500 company
  • "A+" rating from the BBB

The Hartford is a well-established insurance company with over two centuries of experience, making it one of the oldest insurance providers in the United States. Founded in 1810, The Hartford has an over 200-year history of serving the insurance needs of individuals and businesses. They have more than one million small business customers and have a 14x rating with Ethisphere,

Excellent range of coverage types

The company offers a wide range of insurance products, catering to both personal and business needs. Some of the insurance types they provide include auto insurance, home insurance, business insurance, workers' compensation, group benefits, and specialty lines like marine and surety bonds.

Choose between online quote or calling an agent

To apply for a business insurance quote from The Hartford, go to the website and click on the "Quote Today" button or call their toll-free number to talk to an agent. If you click the button, it will ask you for keywords that describe your business. Then choose which activities your business engages in. In our case, with a web designer scenario, the site presented us with a list of coverage types including Business Owners Policy (BOP), General Liability Insurance, and Professional Liability.

Online quote process has multiple steps

At that point, there was another button labeled "Begin an Online Quote" , which was a little confusing given that we thought we had already begun the process. We clicked it and were redirected to a whole new form asking for more description of our business including whether we currently have insurance, how it's structured, locations, another question of the type of business it is, and longevity. Then we finally got to where we could choose the types of coverage we needed and when to start it. Following that, we were asked if we were part of any high-risk or high-stakes operations, such as fire, security, aviation, combat, nuclear, or cryptocurrency. And then even more details. It was beginning to feel like the process would never end. Once we filled out what coverage amounts we wanted on the General Liability Limits page and clicked "Next" , we were asked for contact information and then it gave us a direct quote.

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Premiums are higher

Just don't come to The Hartford looking for an insurance bargain. Compared to other companies with comparable plans and coverage, their annual premium was about $400 to $500 more expensive.

Big difference between BBB rating and client sentiment

In the insurance marketplace, The Hartford has long been known for its commitment to customer service and financial stability. They are also a Fortune 500 company, highlighting its financial strength. The company has an "A+" unaccredited rating from the Better Business Bureau. However, there are over 500 complaints closed in the last 3 years and over 200 of those were in the last 12 months, giving them a 1-star rating average with the BBB. On Trustpilot, The Hartford suffers from an astonishing 98% of customers giving it 1- and 2-star ratings, the lowest of all the companies we've evaluated. We expected more from a company with such a long track record. On its own website, however, The Hartford displays mostly positive reviews from verified customers. Therefore, it is not easy to know what is really going on with their customer satisfaction.

Good but not great

The Hartford is a well-known brand with one of the longest-standing presences in the insurance marketplace. We can provisionally recommend it on that level, but the higher price also gave us another reason not to consider them. So, if you plan to include The Hartford in your list of choices when comparing business insurance plans, take a measured look at not only the positive things said about them, but also the complaints and, especially, the price.

CoverWallet Review 3 Star Rating

CoverWallet

3 Star Rating
  • Offers a variety of coverage types
  • Tailored coverage for specific business types
  • Free assistance accessible via phone, email, or chat 24/7
  • "A+" rated and accredited by the BBB
  • Detailed online quote process

CoverWallet is affiliated with Aon, a well-established company offering retirement, risk, and health solutions. This platform serves as a referral service with the objective of connecting small- and medium-sized businesses with tailored insurance coverage pertinent to their respective industries.

Choose among many types of business insurance

To get quotes from multiple insurance providers, click "Get Instant Quotes" . From there, you can optionally provide your email address for follow-up, and then choose which types of insurance you need a quote for. The choices include:

  • General Liability
  • Workers Compensation
  • Business Owners Policy (BOP)
  • Commercial Property
  • Professional Liability
  • Commercial Auto
  • Umbrella
  • Errors & Omissions

And the list goes on. As you're deciding on what coverage you need, you can choose more than one.

Takes about 5 minutes to answer all questions

Next, you'll respond to several questions regarding details such as the industry type, number of employees, name and address, establishment year, and estimated annual revenue, and then specify the type(s) of insurance for which you seek quotes. Finally, it will ask you about your coverage requirements and provide a quote. The whole process takes about five minutes, but there were parts, such as entering the exact street address of the business, that could have been smoother.

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Advisors are on standby to answer questions

In case you are uncertain about your requirements or have unanswered questions, the site provides the name, photo, and contact details of a CoverWallet advisor on every page of the quote process. Working with an advisor to secure your business insurance coverage comes at no additional cost.

A phone call may be necessary

Similar to our experience while evaluating other insurers, depending on the business scenarios we tested, we sometimes received a message indicating that no online quotes were available when completing the application for General Liability coverage. CoverWallet went on to suggest that "there may be a number of options available by phone".

You'll love it or hate it here

Customer feedback needs to be more consistent in CoverWallet's case. Despite bearing an "A+" rating and accreditation from the BBB with a 4-star average, users reported more than one problem relating to abrupt policy cancellations and challenges in getting the necessary documentation to get coverage. On Trustpilot, the customer ratings and responses were significantly more dire, with 93% 1- and 2-star ratings.

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Negative feedback may be misplaced

However, it's essential to note that, as a referral service rather than an insurer, these issues were likely linked to the companies issuing the business insurance policies rather than being the fault of CoverWallet. Notably, the service has made considerable improvements in reputation since our prior review, transitioning from a "B" to an "A+" with the BBB.

Decent option for getting quotes from multiple insurers

Due to the enhancements made by CoverWallet since our last evaluation, and maintaining its BBB rating since then, the company holds solid in its ranking here. CoverWallet should consider making further changes to improve the experiences customers are having. In the meantime, if you're satisfied with getting either referrals or purchasing direct coverage, CoverWallet seems to fit the bill.

USAA Review 2.5 Star Rating

USAA

2.5 Star Rating
  • Coverage exclusively designed for active duty/retired military members, along with their spouses and children
  • Business, general, and workers' compensation policies
  • Offers professional liability, cyber liability, umbrella insurance, and commercial auto
  • Provides business perks, health/dental/vision, and life insurance

Since the 1920s, USAA has been dedicated to offering banking and insurance solutions tailored to the requirements of military professionals and their families. As a present or former member of the military, or as the spouse or child of one, you can access various business insurance policies through USAA.

Helpful information about business insurance

While you may not find an extensive repository of resources catering to small businesses, you will get the insights necessary to grasp the diverse coverage options before embarking on your insurance journey. Although the information on their site to educate potential business insurance customers is not extensive, it is enough to give a general idea of what is offered and why it is important to business owners.

Only for military members and their families

A notable drawback when considering USAA for business insurance pertains to the company's customer base, which is confined to the Armed Forces. If you do not fall into the category of active duty or retired military (or the spouse/child of someone who is/was), you will not be eligible for their coverage. However, if you meet these criteria, you may appreciate the company's focused approach to your specific needs, encompassing access to banking services, investments, and military life advice.

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Start with the basics

Upon applying for a quote, you can search for your business type with a keyword search. We found our "web designer" scenario business right away. You'll be prompted to input the standard details concerning your business, such as the industry, number of employees, business structure (sole proprietorship, partnership), revenue, employees, payroll, and location. Subsequently, you will need to specify the exact types of coverage you require from the 7 kinds offered by USAA, which encompass Business Owners Policy (BOP), Workers' Compensation, Commercial Auto, General Liability, Cyber Liability, Professional Liability (E&O), and Umbrella.

Not a straightforward process to get coverage

It's important to note that during our attempt to obtain a quote for a small translation service, we received a pop-up notification stating that USAA lacked the coverage to meet our needs. This led to a redirection to The Hartford, which, in turn, necessitated logging onto the USAA site. Keep in mind that if you are contemplating USAA for your business policy, you might ultimately find yourself referred to a third-party insurer for your coverage.

BBB alerts

Another aspect of concern is the alerts associated with USAA on their Better Business Bureau listing. These alerts outline actions taken against USAA by the Bureau of Consumer Financial Protection and the Office of the Comptroller of the Currency, likely contributing to USAA's BBB rating transitioning from an "A-" to "Not Rated" since our previous evaluation. While the majority of complaints filed with the BBB are not directly linked to business insurance, the fact that there were nearly 3,500 of them in the most recent 12 months warrants a lower rating.

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Reputation is on the decline

For these reasons, USAA has experienced an additional decline in our rankings in the course of our last assessment and this one. The company still projects an image of being a dependable option for various insurance categories, including business policies. Nevertheless, there is clearly an ongoing trend in a less favorable direction.

Hard to recommend broadly for business insurance

We recommend that you consider a higher-ranking business insurance provider; however, it is clear that military service members do still prefer to go with USAA out of devotion to the brand. If you meet the criteria for their coverage and are contemplating them for your business, we suggest promptly reviewing any updates on their BBB profile before finalizing your decision. Additionally, it would be wise for you to compare the coverage offerings with quotes from non-military insurance services featured in our review.

InsuranceBee Review 2.5 Star Rating

InsuranceBee

2.5 Star Rating
  • Specializes in professional liability insurance for professionals and small businesses
  • Offers personalized liability insurance
  • Quick online quotes and applications

Established in 2010, InsuranceBee is a relatively new entrant to the insurance industry, specializing in professional liability insurance. They primarily cater to professionals, such as consultants, freelancers, and small business owners. While they lack the extensive history of some of the insurance industry's veterans, InsuranceBee aims to set itself apart by focusing on delivering tailored and affordable coverage solutions to adapt to the ever-evolving business landscape.

Specialized liability insurance

One notable feature that distinguishes InsuranceBee is its commitment to understanding the diverse needs within the professional services sector. They offer specialized liability insurance for various professionals, ensuring that each client's unique interests and risks are addressed directly. This customized approach is designed to provide clients with coverage that aligns precisely with their individual requirements.

Time-saver

InsuranceBee also prides itself on its user-friendly approach. Their website facilitates quick online quotes and application submissions, streamlining the process and minimizing the need for extensive paperwork. The convenience of this digital approach can be particularly appealing to businesses looking for an efficient way to manage their insurance needs.

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Can speak with an advisor or get a quote online

The insurance quoting process is easy to start with a big "Get My Quote" button on the first view of the home page. It began by asking what coverage we needed, including Professional Liability (Errors and Omissions), General Liability, Business Owners' Policy (BOP), Cyber Liability, Workers' Compensation, Management Liability, and Commercial Bonds. You can also choose to instead speak to a licensed advisor upon continuing.

Quote process can be confusing

Next, we were asked about the location and what the business does as well as financial projections. Then it asked for details for the professional and general liability coverage options we selected. But it presented them as three mutually exclusive options: both combined and each separate, resulting in different forms to fill out depending on which one we chose. This was confusing, but we chose both combined and finished the process.

Doesn't offer much value

We were shocked to see the pricing at InsuranceBee. Our quoted annual premium was about $300 to $400 more expensive than other companies we checked out, and with considerably less payout in case of a claim.

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Where's the client feedback?

Beyond the fact that the coverage was so expensive, it is difficult to know for sure what other customers may have experienced with InsuranceBee. Trustpilot has no reviews recorded and, therefore, no star rating to consider. No results were found when searching for InsuranceBee on the Better Business Bureau website either.

Hard to recommend over other business insurance platforms

If you do choose to consider InsuranceBee, know that you're going in blind and likely will be quoted a higher price than other companies. It's probably safer and less expensive to go with another option instead.

Allstate Review 2 Star Rating

Allstate

2 Star Rating
  • Over 9 decades of presence in the insurance industry
  • Commercial automobile coverage available
  • Online quotes are available upon furnishing accurate business information
  • informative website
  • Customized business owner plans tailored to specific industries

As a renowned name in the insurance world, Allstate claims that it aims to keep your business "in good hands" with policies that cater to your company's specific needs. With Allstate business insurance quoting, you can get coverage for a variety of industries and professions, including artisan/specialty contractors, carpenters, plumbers, electricians, landscapers, realtors, doctors and dentists, lawyers, florists, and more. Their website displays educational content, offering adequate explanations of various business insurance coverage types, claim filing procedures, and an array of other topics that might prove beneficial to small business owners, especially if they are not informed about business insurance.

Can combine regular business coverage with commercial auto

To find out about available coverage for your business, you can click on "Get a quote". Unlike other business insurance companies, because Allstate already has a strong market presence in automobile insurance, you can also obtain commercial auto insurance. This was the first option presented to us after clicking "Get a quote" , but we had to access an obscure text link to continue to just business insurance instead of auto.

Quote process can be aggravating

To produce a business insurance quote, the Allstate Business Insurance website will require several pieces of information: your industry, the type of coverage you require (BOP, business umbrella, workers' compensation, transported tools and equipment, commercial auto, or professional liability, revenue). However, we had some trouble with our business scenario of narrowing down our selection specifically to "Web Designer" . The closest we could get to it was "All other professional services" . When we arrived at that page, we were told that Allstate was unable to complete our quote without an agency getting involved. And, some business insurance products are not Allstate insurance policies. We felt forced to choose a different profession in "Graphic Design" to arrive at where we could get a quote. At one time in our attempts to narrow down the profession, the website broke and we couldn't go back to prior selections, so we had to start over. A simple search bar to try to narrow down the profession would have been more helpful.

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You may be redirected to a local agent

Once we found a suitable business category, we proceeded to attempt to get a quote. However, Allstate could not complete the quote in our chosen U.S. state and referred us to a toll-free number to contact a local agent. We also had the option of clicking a "Continue" button which, confusingly, took us to another domain name. On that site, we could search for the exact name of the profession and get closer to Web Development and we could enter most of the information. Still, we became stuck when asked about the construction type of the office location, which assumed that the business location was limited to a commercial building, not a home-based business. We chose a type of building that was close enough to the home construction in our scenario and completed the quote process.

Quotes may come from other insurers

In about 90 seconds, the site had calculated an annual premium of only $596.47 for a home-based, sole-proprietorship web design business. That included a $1,000,000 general liability occurrence limit and a $2,000,000 general liability aggregate with a property deductible of $250. The insurance was to be underwritten not by Allstate but by The Hartford, which made us wonder if we should have gone to The Hartford first.

Policies can be customized to your exact business needs

Despite those frustrations, one of the advantages of buying business coverage through Allstate is the opportunity to get a tailored policy. For instance, your bakery might need a Business Owner's Plan that bundles property insurance, liability insurance in case a customer sustains an injury on-site, business interruption coverage to recoup lost income and expenses during a covered claim, and equipment breakdown coverage in the event of a power surge damaging your ovens, mixers, and other appliances.

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Agent contact may be required for add-on coverage

Allstate provides various add-ons that you may wish to contemplate for your policy. While basic business insurance policies are typically quotable through their online tool, you may need to chat with an agent to add these riders to your coverage. Unfortunately, unlike when we reviewed Allstate before, you won't find the "Find an agent" button conveniently located below the "Get a quote" button across the Allstate site.

No love from the insured

Allstate, in the past, has enjoyed an impeccable reputation, underscored by its once "A+" rating from the BBB and more than 80 years in the industry. However, this time around we found that their rating was changed to "Not Rated" and Allstate had a sizable number of more recent complaints putting them at a 1.1 star rating. Additionally, their Trustpilot score is now made up of a staggering 92% 1- and 2-star ratings. Only 6% of customers give them a 5-star rating. We found this unacceptable for such a well-known brand in the insurance industry.

Not recommended for business insurance

For all of these reasons, we cannot recommend Allstate for business insurance. The quote process was a hassle, we had a hard time getting a quote that was a fit for the business scenario we used across insurers, and the higher-ranked companies on our list had no trouble getting us coverage we could afford. Even if you feel some kind of loyalty to Allstate as a whole, you should look at your options before even trying for a quote here.

Next Insurance Review 1.5 Star Rating

Next Insurance

1.5 Star Rating
  • Offers small business insurance
  • In business since 2016
  • Online quotes with agent involvement via email
  • "B+" rating from the BBB

Established in 2016, Next Insurance is a relatively recent addition to the insurance industry, primarily targeting small businesses and self-employed professionals. They provide a range of insurance coverage options, including general liability, professional liability, commercial auto, and workers' compensation. Next Insurance prides itself on its user-friendly digital platform, which simplifies the insurance process. This platform allows customers to obtain quotes and purchase policies conveniently online.

Online quote process is not streamlined at all

However, that's absolutely not the experience we had when trying to get business coverage with Next Insurance. We applied for a quote but were referred to an agent who then emailed and asked for more information via an attached form, which wasn't attached. We eventually got the attachment in a follow-up.

Lots of back-and-forth required

Still, we were very confused by the lengthy form we were required to fill out for our web designer and developer business scenario. It asked for details about cybersecurity in the context of a much larger enterprise vs. a home-based design business. When we asked why and whether it was relevant to our case, the agent was not very helpful and just said it needed to be filled out for them to produce a quote. We filled it out and then got a report back saying our website was not secure enough for coverage and to correct the issue. We did so, providing proof that the site was now more secure, and asked for a re-evaluation. The agent said she'd get back to us.

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Competitive premiums - if you can spot them

The next communication was an insurance proposal sent via Docusign. The price was quite good, actually. But it was buried in a 25-page document that was nearly impossible to get all the way through without falling asleep. While other companies offer a direct and easy way to pay for a new business insurance plan, for such a low premium amount Next Insurance seems to think it's better to drown potential customers in process and paperwork before getting to the quote and payment.

Essentially no positive feedback from clients

Next Insurance has received all negative reviews in terms of customer satisfaction. On Trustpilot, the company has a concerning collection of exclusively one and two-star ratings, reflecting ongoing issues with customer service. Many policyholders have reported difficulties when dealing with the company's representatives. Complaints often revolve around a lack of clear communication, frequent transfers between multiple agents, and an inability to receive straightforward answers to their queries. Our experience with them was no different. In addition, Next Insurance somehow still holds a "B+" accredited rating with the Better Business Bureau (BBB), which isn't as high as one might expect from a top-tier insurance provider and should probably be lowered.

Don't waste your time here

These factors indicate that while Next Insurance at first seems to offer the convenience of digital services and tailored coverage, potential customers should be cautious and consider this company's customer service track record when evaluating its suitability for their insurance needs. Definitely avoid Next Insurance and instead look at other higher-rated companies when selecting business insurance protection.

netQuote Review 1 Star Rating

netQuote

1 Star Rating
  • Founded in 1989
  • Get quotes from multiple insurers

netQuote is an online insurance marketplace that helps consumers compare insurance quotes from various providers. It was founded in 1989 and is headquartered in Denver, Colorado. NetQuote provides a platform where individuals and businesses can enter their insurance needs, such as auto, home, health, and life insurance, and receive quotes from multiple insurance companies.

Referral services can save you some time

On the surface, this sounds like a great time-saver for getting business insurance: why spend your time repeatedly filling out the same information about your business on insurer websites if you can do it one time and get connected with various companies? It's not a bad model, and there are platforms that do an admirable job of saving clients time in that way.

Site collects and sells your information

But, we want to cut to the chase: netQuote is not in any way an online quote engine. It is, rather, a way for netQuote to collect and mass-distribute your contact information and other sensitive data to who knows how many insurance companies, agents, or "partner companies" . By submitting their form, you are agreeing to authorize up to 8 insurance agents to contact you via every form of contact possible, but their fine print also specifies your information will be used for "marketing purposes" and will be confirmed through the use of a "consumer report" . That could include selling your information to third parties unrelated to anything having to do with insurance.

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Business owners (and everyone else) beware

And, from what other people say about netQuote, that's exactly what you should expect. We found dozens of rants from people who said that after entering their info to get insurance quotes, all they got were spammy phone calls from agents hoping to sell them a policy - and those were often completely unrelated to the type of insurance they had initially requested. Comments frequently include words and phrases like "scam" , "waste of time" , and "useless" .

Recommendation: Avoid

So, to recap: if you go here for a quote, you'll get unwanted phone calls from agents trying to sell you policies that probably aren't even close to what you were looking for with respect to business insurance. netQuote absolutely fits the definition of a marketing data mining operation. We highly recommend never entering your data into this site.

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Continued from above...

The insurance needs for any business can vary depending on its size. For example, small businesses often have different challenges compared to larger ones. Meeting the insurance needs that big companies can handle with lots of resources can be harder for small businesses. That's because small businesses don't have as many employees, accountants, and lawyers.

The legal landscape is another area where business insurance is indispensable. Liability claims and lawsuits are commonplace in the business world. Without adequate insurance, legal expenses and settlements can pose existential threats to a company. Insurance policies focused on professional liability, general liability, and other specific risks mitigate the financial impact of legal challenges, allowing a business to focus on their core activities rather than litigation.

But figuring out the right insurance can be confusing. After all, it's not an "exciting" business expense, protecting yourself against situations that you hope don't happen, but it's a big help when unexpected things do.

So, how can you figure out the exact coverage and how much you need? Instead of going to a local agent right away, who might not know a lot about small businesses, people are increasingly turning to online searches to find an insurance company with knowledge and specialty in the business world.

As you look into different places to get business insurance, keep these things in mind:

  • Types of coverage. Make sure the coverage options available are what you need. Are you limited to basic liability plans, or can you make a policy that's right for your business?
  • Convenience. See how easy it is to find information and get quotes on the website. Do you have to talk to someone before you can get coverage?
  • Reputation. Has the service or company been reviewed by the Better Business Bureau? Look at what other business customers say about their experience during the application process and after they get the policy.

Today's market has a bunch of top business insurance providers, and the experts at Top Consumer Reviews have researched and ranked some of the best-known names in the industry. Our goal is to help you get the coverage your company needs to protect it from expensive lawsuits, liability issues, and unexpected problems.

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Business Insurance Provider FAQ

There are two main areas of coverage: business liability and commercial property. The former is used in the event that someone holds your company liable for injury, damages or loss; the latter covers damaged or stolen business property, plus any buildings you own (not lease).
Unless you've got money to burn, you need insurance coverage to protect you from any number of unexpected situations: a slip-and-fall at your store, an employee injury at your warehouse, or damage to a customer's home during a project, just to name a few. Lawsuits, medical bills, and property damage claims get expensive, and business insurance helps mitigate those risks and costs.
That will depend on several factors, including but not limited to state laws where your business operates and any licensing requirements for your specific industry. If you have employees, you'll likely be required to have workers' compensation coverage, and any vehicles owned by your business (and not you as an individual) need a commercial auto insurance policy.
That also depends on your state and your industry. At a minimum, expect that you'll need general liability insurance (which is often required as part of a client contract or commercial lease), plus workers' comp if you have employees and commercial auto if your company owns vehicles. Beyond that, you'll need to consider how your business operates and what specific types of policies might be required or just a good idea (such as Liquor Liability if you own a bar).
As with any other type of insurance, your premiums for business policies depend on many factors: the size of your company and number of employees, desired coverage limits, annual revenue and business location. However, most small businesses pay $65/month on average for General Liability coverage, $99/month for Business Owner Policy (which bundles property insurance with general liability), and $111/month for Workers Compensation.
It's true that most insurers only offer standard one-year policies, with prorated refunds if you cancel before the 12 months are up. But, with more and more people working in non-traditional ways (gig economy, freelancers, event specialists, and so on), the business insurance industry is evolving to keep up. There's at least one company that specializes in business insurance with short-term options: hourly, daily, monthly, depending on the company's needs.
Typically, yes! The premiums for your policy are a business expense and can be deducted like any other cost.
Absolutely. Some of the biggest names in the insurance industry allow business owners to get quotes directly through their websites. Other insurers specialize in online-only service, allowing you to get your quote, policy, and proof of coverage with just a few clicks. Of course, you should do your due diligence and select an insurer with a strong reputation before committing to a business insurance policy.
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