Best Small-Business Insurance 2025: Compare Companies and Coverage
The best small-business insurance companies are financially secure and receive relatively few customer complaints.
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The right business insurance coverage for your company will depend on its unique risks. But the best business insurance companies make getting that coverage easy — and offer a smooth claims experience so you can get back to your operations.
We evaluated 19 business insurance providers, and here are our top choices.
≡ Our top picks
- Chubb: Best for buying a BOP online.
- Next: Best online business insurance.
- Travelers: Best for working with an agent.
- Nationwide: Best for additional services, like retirement plans.
- Progressive: Best commercial auto insurance.
- Thimble: Best for short-term coverage.
Why trust NerdWallet
250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small-business and personal finance.
Objective, comprehensive small-business insurance ratings based on the financial strength, complaint records, digital features and customer service availability of insurance market leaders. Read our methodology.
NerdWallet's small-business insurance content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
Save up to 30% on business insurance
NerdWallet Small Business helps you get real-time quotes from 30+ insurers, and instant access to your Certificate of Insurance (COI) through our partner, Coverdash.
Best business insurance companies
NerdWallet recommends getting business insurance quotes from several providers so you can find the best coverage at the best price. Consider factors such as your industry, company size and location when evaluating options.
Chubb
Best for: Buying a BOP online.
Why we like it
Chubb is a longstanding insurer that makes it easy to buy a business owner’s policy online. Its BOP even includes a few types of coverage that don’t come standard: business interruption insurance and extra expense coverage, plus coverage for accounts receivable. If your annual revenue is over $2 million, though, you’ll have to work with an independent insurance agent to get a policy. Read review.
Pros and cons
Pros
Simple online shopping experience that most businesses can likely complete in a few minutes.
BOP includes business interruption and extra expense coverage.
Fewer complaints than expected about liability coverage and far fewer than expected about property coverage.
Cons
If you have more than $2 million in annual revenue, you'll need to talk with an agent or shop elsewhere.
Can’t get commercial auto insurance online.
Policies Chubb sells
Note: The following policies are available for online purchase. Chubb offers lots of other coverage types, too, but you may have to work with an agent to get them.
- General liability insurance.
- BOP.
- Business property insurance.
- Business interruption insurance.
- Professional liability insurance.
- Umbrella insurance.
- Workers’ comp.
- Cyber insurance.
Ergo Next
Best for: Online business insurance.
Why we like it
Ergo Next sells all the business insurance policies most entrepreneurs need online. You can shop using highly specific industry-tailored packages — for fitness professionals, contractors, Amazon sellers and more — and buy several policies in one transaction. Ergo Next also offers a digital certificate of insurance, which should make it easy to quickly prove you have insurance when a client or landlord asks. Read review.
Pros and cons
Pros
All users can get quotes and purchase policies online.
Provides a digital certificate of insurance that you can share with anyone who needs it.
Cons
Far more complaints than expected about liability coverage and property coverage.
Can’t file claims over the phone, only online.
Policies Ergo Next sells
- General liability insurance.
- BOP.
- Commercial property insurance.
- Professional liability insurance.
- Commercial auto insurance.
- Tools and equipment insurance.
- Commercial property insurance.
- Umbrella insurance.
- Workers’ comp.
- Cyber insurance.
- Liquor liability insurance.
- Product liability insurance.
- Contractor license bonds.
Travelers
Best for: Specialized coverage.
Why we like it
Travelers earned high marks from NerdWallet for its financial strength, low number of customer complaints, wide variety of coverages and customer support features. You can’t get a quote or buy a policy online. But it’s a good idea to start a relationship with an agent if your business needs more than a BOP and commercial auto insurance anyway. And independent agents sell Travelers policies, so they can offer you multiple quotes. If Travelers offers the best coverage for the best price, it’s a solid choice. Read our review.
Pros and cons
Pros
Offers many types of commercial insurance, including specialized coverage like key person insurance and surety bonds.
You can access your certificate of insurance and track your claims through an online portal.
Fewer complaints than expected about liability coverage and property coverage.
Cons
You can’t get a quote or purchase a policy online.
Policies Travelers sells
- General liability insurance.
- BOP.
- Business income and extra expense coverage.
- Commercial property insurance.
- Professional liability insurance.
- Commercial auto insurance.
- Workers’ comp.
- Cyber insurance.
- Management liability insurance.
- Employment practices liability insurance.
- Umbrella insurance.
- Equipment breakdown insurance.
- Specialized coverage for industries like agriculture and energy.
Cincinnati Insurance
Best for: Working with an agent.
Why we like it
Cincinnati Insurance had far fewer complaints than expected about both its commercial liability and commercial property policy. We also gave it top marks for financial strength. On top of that, the company offers a variety of coverage types — like cyber insurance, hired and non-owned auto insurance and equipment breakdown coverage — as enhancements. That means you can tack them onto policies you’re already planning to buy and get some additional coverage without springing for a whole additional policy.
You can’t buy a Cincinnati policy online, but if your independent agent suggests it, the company should be a good choice. We haven’t written a review of Cincinnati Insurance yet.
Pros and cons
Pros
May offer three-year policies so you don’t have to renew annually.
Far fewer complaints than expected about liability coverage and property coverage.
Cons
You can’t get a quote or purchase a policy online.
Policies Cincinnati sells
- General liability insurance.
- BOP.
- Commercial property insurance.
- Professional liability insurance.
- Commercial auto insurance.
- Workers’ comp.
- Cyber insurance.
- Employment practices liability insurance.
- Umbrella insurance.
- Business income insurance.
Progressive
Best for: Commercial auto insurance.
Why we like it
Regulators received fewer complaints about Progressive, relative to its market share, of any of the large auto insurers we cover. It had the largest share of the commercial auto insurance market by far in 2024, according to the most recent data from the Insurance Information Institute.
Progressive’s commercial auto insurance policies can cover cars, trucks, buses, limousines and other business vehicles. The company also offers access to a network of car and truck repair shops and around-the-clock service by phone or online. Read our review.
Pros and cons
Pros
Fewer than expected commercial auto insurance complaints filed with state regulators based on its market share.
Specialized insurance products for truckers, including owner-operators, motor carriers and driver carriers.
24/7 roadside assistance available as an add-on service, provided by a third party.
Cons
More complaints than expected about commercial liability and commercial property insurance.
Other types of insurance might be underwritten by other insurance companies, not Progressive.
Policies Progressive sells
Underwritten by Progressive:
- Commercial auto insurance.
Available for purchase through Progressive’s website, but may be underwritten by other insurers:
- General liability insurance.
- BOP.
- Professional liability insurance.
- Workers’ comp.
- Cyber insurance.
- Employee health insurance.
Other business insurance companies
The following insurers didn’t make our list of top choices, but their unique offerings may make them a good fit for you.
Other commercial insurers NerdWallet rates and reviews:
- Allstate offers commercial auto insurance, but funnels other coverage requests to Next. Read NerdWallet’s review of Allstate business insurance.
- biBERK sells several key types of business insurance online, but not all policies are available in all states. Read NerdWallet’s review of biBERK business insurance.
- Farmers operates in 36 states, offering basic coverages like general liability, commercial auto and umbrella insurance. Read NerdWallet’s review of Farmers business insurance.
- Geico sells its own commercial auto insurance and other types of insurance, like general and professional liability, via Hiscox. Read NerdWallet’s review of Geico business insurance.
- Hiscox sells general and professional liability insurance online and its professional liability policies cover work done all over the world. Read NerdWallet’s review of Hiscox business insurance.
- Huckleberry sells policies from other insurers online and suggests policies based on your industry. Read NerdWallet’s review of Huckleberry business insurance.
- Liberty Mutual sells virtually every type of business insurance, including policies for highly specialized industries. Read NerdWallet’s review of Liberty Mutual business insurance.
- Pie Insurance sells workers’ comp and can give you an online price estimate for a policy. Read NerdWallet’s review of Pie business insurance.
- State Farm agents can sell most types of business insurance, but online features are limited. Read NerdWallet’s review of State Farm business insurance.
- The Hartford offers online quotes for a wide variety of business insurance types, and the company received high marks for its financial strength. Read NerdWallet's review of The Hartford business insurance.
- Three targets small-business owners who want many types of insurance coverage in just one policy. Read NerdWallet’s review of Three business insurance.
- USAA works with military families. Read NerdWallet’s review of USAA business insurance.
Want to compare multiple companies? An online broker, like Coverdash or CoverWallet, can help you get several quotes from different insurers at the same time.
Save up to 30% on business insurance
NerdWallet Small Business helps you get real-time quotes from 30+ insurers, and instant access to your Certificate of Insurance (COI) through our partner, Coverdash.
What is business insurance?
There are many different types of business insurance that protect against particular kinds of risk. Here's an overview of some common policy types:
| Type of insurance | When it protects your business | Who needs it | Find a provider |
|---|---|---|---|
| If a third party or their property is harmed as a result of your business activity. | All businesses. May be required by a landlord or contractor. | ||
| If you’re in an auto accident while working or in a company vehicle. | Businesses that use vehicles in their operations. May be required by law. | ||
| If an employee is injured on the job. | Businesses with employees. Required by law in most states. | ||
| If a client accuses you of making a mistake or giving them bad advice. This is also known as errors and omissions insurance. | Businesses that provide services for a fee. May be required by law or industry regulation. | ||
| If your manufacturing or retail space, office, or assets like equipment or inventory are damaged and need to be repaired or replaced. | Businesses with owned or rented space or a significant amount of property. May be required by a landlord. | ||
| If your business can’t generate revenue for a period of time. | Most businesses with recurring expenses. |
A business owner’s policy, or BOP, is a single insurance policy that includes several common types of small-business insurance coverage listed above:
- General liability insurance.
- Commercial property insurance.
- Business income insurance is usually included, but not always.
- Some insurers offer optional add-ons, like data breach coverage.
A BOP is a convenient choice for small businesses that rent space or stock inventory and need both liability and property coverage. If you don’t have employees, a BOP may provide all the insurance you need. (If you do have employees, make sure you have workers' comp too.)
What business insurance do you need?
Follow these steps to determine your insurance needs and get coverage.
- Find out what coverage is required by law. Some business insurance, like workers’ compensation, is required by law. Check the workers’ compensation regulations in your state to make sure you’re in compliance. Be on the lookout for industry-specific regulations as well; for example, state law might require lawyers to carry legal malpractice insurance.
- Find out if your contracts require insurance. Landlords, lenders and contractors may require certain types of coverage before doing business with you.
- Talk to a professional. If you’re unsure about what kinds of business insurance you need, a licensed commercial insurance agent near you can help you evaluate your risks.
- Get an online quote. Lots of online business insurance providers ask questions during the quote process and suggest certain kinds of coverage as a result. For instance, if you say your business works in a professional services industry, they might recommend professional liability insurance. Getting a quote can highlight certain risks and help you understand how much insurance might cost.
- Reassess your needs regularly. As your small business hires employees, adds locations or grows its product line, your insurance needs will grow too. Check on your insurance policies every year to make sure they still provide the best coverage for you.
How much does business insurance cost?
Business insurance costs can vary widely depending on:
- What your company does.
- How many employees you have.
- Where you’re located.
- How public-facing your business is.
- Your claims history.
- What policies you need to buy.
To get a ballpark figure, try getting a quote from an online business insurance company. They can usually show you a price estimate in a matter of minutes, based on some basic information about your business.
The best way to find affordable business insurance is to get quotes from several different providers and choose the best option for you.
Frequently Asked Questions
What is small-business insurance?
Small-business insurance is coverage that limits your company’s financial losses in case of property damage, injuries, lawsuits or other claims your business might face.
Do I need small-business insurance?
If your business has employees, performs services for a fee, has an office or storefront, or sells products, you need business insurance. What policies you need and how large those policies should be will vary depending on what your business does, how many people you employ and lots of other factors.
What does business insurance cover?
Business insurance can cover financial losses due to property damage, lawsuits, injuries to customers or employees, work stoppages and many other events. Different types of policies protect against different kinds of risks. Most businesses need several types of coverage.
How much does small-business insurance cost?
The cost of business insurance depends on what your company does, where you’re located, how many employees you have and how much space you occupy, among other factors. Get quotes from several different insurance providers to find the best price.
What does business insurance exclude?
Most business insurance policies spell out specific exclusions, which are events that they won’t cover. Read your policies closely to understand what’s covered and what isn’t. Business insurance doesn’t cover losses beyond the policy’s limit, which is the maximum amount your insurance company will pay out in a certain period of time.
How do I know if I need small-business insurance?
You need small-business insurance if a state law, a lease, a business loan application or another type of business agreement requires you to have it. Workers’ compensation insurance and commercial auto insurance are often required by law. Check your state’s regulations and read all of your agreements closely to find out what coverage you need.
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Methodology
Business insurance ratings methodology
NerdWallet’s business insurance ratings reward companies that offer small-business owners reliability and ease of use. Ratings are based on weighted averages of scores in several categories, including financial strength, customer complaint data, shopping experience and customer service. Learn more about how we rate small-business insurance companies.
These ratings are a guide, but insurance policy details and prices can vary widely from business to business and provider to provider. We encourage you to shop around and compare several insurance quotes.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2022-2024.
To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period.
Our star ratings consider ratios for both general liability insurance and commercial property insurance. When an insurer sells policies that are underwritten by several different insurance companies, we consider the NAIC complaint ratios of all the underwriters.
