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      January 25, 2020

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  1. Tech Insurance
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Best Business Insurance Better Business Bureau Reliability Seal

Get Business Insurance with Hiscox Today! All businesses should have at least basic protection. In fact, depending on your business type and State, you may be required to have coverage. Policies exist today that financially protect business owners against injury costs and related medical bills, legal defense costs, property damage, liability claims for loss of a client's private electronic data and negligence of temporary staff.

Shopping for the best small business insurance does not have to be time consuming or stressful. There are a number of insurance companies that work to provide the best quotes for small business, sometimes in only minutes. This allows shoppers to compare and contrast the best policies and pricing quickly and efficiently.

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Best Reviews

2020

Business Insurance Reviews

5 stars
Hiscox

HISCOX

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TopConsumerReviews.com Best-In-Class Blue Ribbon Award Hiscox is the only one stop shop for small business insurance. General liability, professional liability, errors and omissions, and business owner's insurance may all be found at Hiscox. This is a 100 year old international insurance provider that began selling U.S. business insurance in 2005 and holds an A+ Better Business Bureau rating as well as, an A rating with A.M. Best. You'll find both the reliability and convenience you're looking for at Hiscox.

Hiscox sells small business insurance in the majority of our 50 States and makes the process simple. Anyone you may speak with at Hiscox is trained to assist small businesses insurance seekers. But, unlike many insurance companies, here you can request a quote and buy your business insurance online without ever speaking with an agent. So for those that truly want to shop online, this is your place. Another benefit at Hiscox is that you'll receive access to your insurance policies immediately upon purchase. Customers will also find a 14 money back guarantee should they change their mind.

The process of obtaining a quote from Hiscox is straightforward. Using their website you simply choose your State and your field of business. The Hiscox website will immediately suggest recommended coverage based on your selections and provide details of what the insurance entails. You may select all or some of the recommended insurance, input your contact details, as well as other business information to obtain your quote.

The business insurance available at Hiscox is completely customizable to best fit into your budget as well as provide the specific coverage you need. Should a claim occur you may report the event online. We liked that just about any action including address changes, authorized person add, policy documents and more could all be obtained and processed online. This means those busy small business owners can perform these administrative duties at night or after hours when they best fit into their schedule.

Hiscox received the 5 Star ranking in our reviews of business insurance providers. We found the reliability, flexibility and convenience that we were looking for and that we know insurance shoppers demand.

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4.5 stars
Tech Insurance

TECH INSURANCE

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TechInsurance is a division of Insureon company and servers to match small business owners with reputable insurance providers such as The Hartford, Travelers and more. TechInsurance can assist just about any type of small business with finding proper coverage but specializes in small technology companies. Specifically they work to find professional liability, general liability, errors and omissions, cyber liability, data breach, workers compensation insurance, and more. TechInsurance currently holds an A+ Better Business Bureau rating but is not rated by A.M. Best because they are not an actual insurance company.

TechInsurance can assist small technology companies find the proper insurance in all 50 States. They even offer online tools to determine if a specific contract changes the insurance coverage a business needs for proper protection. The quote process is quick and easy at TechInsurance. Simply input the industry you work in, your zip code, name of business what type of insurance you need, company history, and some additional details. TechInsurance will then work worth their 9 insurance partners to find several of the best quotes to fit your specific needs. TechInsurance will follow up with an email including the premiums as well as have you speak with 1 insurance agent to discuss the best option for you.

Online access to insurance documents and changes will be based upon which company you end up selecting. Shoppers can expect The Hartford, CNA, Zurich and several other top companies to be on the list.

For those that either specialize in tech companies and need the expertise and access to that type of insurance as well as those that have any other type of business but really want to shop around, TechInsurance is a great choice. We liked the process of obtaining insurance through this company, the level of insurance companies they work with and only speaking with 1 agent throughout the process.

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3.5 stars
USAA

USAA

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USAA has been in the insurance business since the 1920's, serving the insurance needs of military professionals and their families. USAA has recently partnered with The Hartford, to provide small business insurance to USAA members. USAA holds an A+ Better Business Bureau rating and an A++ superior A.M. The Hartford holds a B+ Better Business Bureau rating and currently holds an excellent A- rating with A.M. Best insurance rating.

Insurance shoppers will find a professional and informative website and an effective but not overly efficient shopping experience. Insurance options available through USAA and The Hartford include property, general liability, business flood, workers compensation, commercial auto and protection match insurance.

The USAA website is informative to those new to business coverage. Learn more about each type of insurance and what is recommended for your particular industry. The website even offers an option to analyze your risk and identify where you need coverage the most. This will help business owners best protect themselves and their company.

The quote process includes answering a series of questions and providing contact details. We liked that a trained business insurance specialist will call to discuss your business insurance needs. We felt this was a better option than calling a local agent who may not be as familiar with this aspect of insurance.

For those brave military service men, women and their families, USAA and The Hartford is a good place to start for their business insurance needs. The discounts are definitely worth pursuing and comparing to companies ranked higher.

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3 stars
Net Quote

NET QUOTE

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Net Quote works to match insurance companies with small business owners. The service is free and entails several different insurance companies contacting you directly. Net Quote works with all 50 States and provides insurance shoppers access to business, health, life, auto insurance and more. Net Quote currently holds an A+ Better Business Bureau rating.

The process is rather straightforward at Net Quote. The shopper simply completes a basic questionnaire and then submits. Upon completion of the questionnaire, they'll receive an email that lists all the agents in your area that you've been matched with. In turn, your phone number and email address are given to the same agents, who will then begin to contact you.

While technically delivering on the promise to give you multiple quotes, their method does not give the shopper the chance to do any initial comparison without the hassle of speaking with a potentially pushy insurance agent. Net Quote does work with some of the larger solid insurance companies including Allstate, Nationwide, American Family and others.

For those that have much time on their hands, which is probably very few business owners, they may enjoy speaking with each and every agent to weed through the different coverage options and premiums but, for most of us, the higher ranked companies provide a convenient smart approach to business insurance shopping.

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2.5 stars
Allstate

ALLSTATE

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With continued marketing efforts, just about everyone has heard of Allstate Insurance. Allstate has been around since 1931 and provides coverage for small businesses, home, life, renters, condo, auto and motorcycle insurance. The company currently holds an A rating with the Better Business Bureau and an A+ rating with A.M. Best. Allstate has strong history of providing quality insurance but isn't quiet savvy enough for our online shoppers.

The benefits of shopping for business insurance at Allstate is that you can also grab your homeowners, life and other policies in the process. Shoppers will also feel confident that they are getting competitive pricing from a well regarded insurance company. However, the downside of shopping with Allstate is that the insurance quote process must occur with a local agent and they may not be experts at how to best protect a small company. For those busy small business owners that want a streamlined effort of choosing solid insurance, when it's convenient for them, will not find what they are looking for at the Allstate website. For those that are looking for business insurance and perhaps other coverage, and are ok with speaking with a local agent, Allstate may be a decent choice.

We liked the history that Allstate brings to the table but had hoped they would offer a convenient online quote option like those companies ranked higher. For individuals on the go, a higher rated insurance provider can better assist.

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2 stars
Cover Wallet

COVER WALLET

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CoverWallet is the brainchild of a group of tech entrepreneurs who wanted to build a better insurance-buying process for other business owners. Based in NYC, this company seeks to give companies the ability to manage all of their policies online in one place.

The quote process with CoverWallet is initially straightforward. Choose the type(s) you need from among these categories:

  • General Liability
  • Workers Comp
  • Business Owners Policy
  • Commercial Property
  • Professional Liability
  • Commercial Auto
  • and more than 20 other categories

You can also select “I don’t know or I’ll decide later” if you just want to browse. Answer a few questions about your company, like business location, start year, years of experience, projected annual revenue, form of business entity (LLC, Corporation, etc.), and so on. Once you enter your contact information, your quote will be emailed to the address you specify. After providing details to those initial questions, CoverWallet will recommend policies that might apply to you. In our case, they recommended General Liability and Professional Liability.

We appreciated that we could see how much more time we might need to enter the additional required information to apply for the kinds of insurance the service recommended, or we could choose “not now” if we just wanted to continue the application.

Because we initially selected the “I’ll decide later” option, we got to the end of the quote process and were told that CoverWallet didn’t have any policies for us to consider - which makes sense. But, it was aggravating when we tried to go back and select “General Liability”, because we found we had to start the entire question-and-answer process from the beginning. There may have been a way to save our information or create an account, but there was no obvious way for us to tell if that was the case. On each screen, we were given a photo, name and number of a personal advisor we could call with questions, which was a plus.

We were disappointed to see that CoverWallet had a “B” grade at the Better Business Bureau at the time of our review, primarily based on more than 20 complaints filed against the company - and 25 of them were in the 12 months leading up to the date this review was compiled. While CoverWallet is accredited by the BBB, they’ve only been in business for 4 years, so it left us wondering if they’re still working out some of the kinks with respect to customer service.

The most troubling aspect of CoverWallet’s service is the number of complaints we found that said that the company made significant mistakes when policies were issued to business owners. Multiple people said that the policy recommended by CoverWallet didn’t actually cover what they needed, and that requests for help, service, and eventually refunds went unanswered. That may be due to the fact that CoverWallet isn’t the actual insurance company backing the policies, but that doesn’t excuse their lack of response when customers they referred need help.

While CoverWallet may partner with top-notch, trusted insurance companies to provide Business Insurance coverage, the process of getting to a quote is enough to deter even the most determined professional. And, the lackluster reputation with the BBB means that CoverWallet winds up at the bottom of our rankings for now. We hope to see positive changes in the near future, as CoverWallet gains more experience within the Business Insurance industry.

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Continued from above

When deciding on which company to start with, for your business insurance needs, consider the following first:

  • Reliability. Does the company in question have a strong Better Business Bureau rating? How strong in their A.M. Best (insurance rating) compared to others? Will the company be honest and reliable when you most need them?
  • Convenience. Can you obtain small business insurance quotes online or do you have to speak to an agent? Will you only speak with 1 agent or several?
  • Informative. Is the website educational and informative? Will it help you decide what type of business insurance you need to best cover you financially?

TopConsumerReviews.com has reviewed and ranked the best Business Insurance services available today. We hope these reviews help you protect your business with the right insurance today!

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Global Digital Insurance Platform Market to Reach USD 92.91 Bn, Globally, by 2026 at 13.5% CAGR: Says Reports and Data

The global Digital Insurance Platform market is forecast to reach USD 262.34 Billion by 2026, according to a new report by Reports and Data. Digital Insurance platform is a tool or software that ...

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Windgate Insurance Agency Purchased by Long-Time Producer, Nick Podias

The agency has been a member of SAN Group since 2002. A family-owned independent insurance agency since 1991, Windgate Insurance Agency provides home, auto, business, and life insurance to clients.

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Business Insurance Market: Maintaining a Strong Outlook - Here's Why

Advance Market Analytics recently released Global Business Insurance Market research with more than 100 market data tables and figures spread through Pages are easy to understand TOC in "Global ...

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Sompo International Hires Allied World's James to Run International Insurance Business

"We are delighted that Julian will be joining our team to lead the strategic expansion of our international insurance business," commented Gallagher. "Sompo International is committed to the continued ...

Published:  Thu, 23 Jan 2020 06:22:00 GMT



What is Business Insurance and How Does it Work?

Business insurance is a type of insurance designed specifically for owners as a way to protect their assets. The assets of a company can range from the products that it makes to the equipment, and ...

Published:  Mon, 13 Jan 2020 07:57:00 GMT



AM Best Affirms Credit Ratings of Factory Mutual Insurance Company and Its Subsidiaries

of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "aa" of Factory Mutual Insurance Company (Johnston, RI) and its subsidiaries, which are collectively referred to as FM ...

Published:  Thu, 23 Jan 2020 16:03:00 GMT



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