Business Insurance Companies: How to Compare Providers

Weigh price against factors such as customer service and financial strength when choosing a business insurer.
Tina OremSep 16, 2021

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Steps

Virtually every small-business owner faces risks that can help mitigate, but not all business insurance companies are the same. Here are the steps to take to compare business insurance companies and what to think about as you shop.

Not every business insurer sells every type of insurance. This will narrow your options once you’ve determined the you need. But you may also be limited by the following:

Get more information about some of the major business insurance providers here:

Getting quotes from several different business insurance companies can help you find the best coverage at the best price. Here are some things to consider when looking at insurers’ quotes.

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Some companies offer discounts for buying multiple policies. For example, gives you a 10% discount when you bundle more than one kind of coverage.

You may see differences in the number and type of discounts available. Comparing the discounts your business is eligible to receive will ensure that you not only get the policy you want but also benefit from investments you’ve made to make your business safer in the eyes of the insurer.

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Buy business insurance from stable companies with enough money to pay claims. Financial strength is one way to evaluate whether an insurer meets that standard. You can check financial strength through a rating firm such as .

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A licensed commercial or agent can help you evaluate your risks and compare what various business insurance companies offer.

Brokers and agents earn money from commissions. In general, brokers offer products from a wider range of business insurance companies than agents do but may charge extra fees. Many states require agents and brokers to disclose their fees and commissions upfront.

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