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Best Small-Business Insurance 2024: Compare Companies and Coverage

The best small-business insurance companies are financially secure and receive relatively few customer complaints.
By Rosalie Murphy
Last updated on March 6, 2024
Edited byRyan Lane

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⏰ Estimated read time: 13 minutes

Business insurance helps protect your company and its assets when you face property damage, injuries, lawsuits or other claims that might arise from your work.
The best 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 running your business.

Best business insurance companies

Here are our picks for the best small-business insurance.
Select each provider to jump to details about their coverage, or keep reading to learn more about what you need to know to shop for business insurance and find the best coverage for you.
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Coverdash lets business owners compare quotes and purchase policies from more than 30 of the largest insurers in the country. One quick and easy application instantly lets you compare your options.


Best for buying a BOP online.


NerdWallet rating 
Why we like it: Chubb’s business owner’s policy offers a few types of coverage that aren’t always included in BOPs: business interruption insurance and extra expense coverage, plus coverage for accounts receivable. And while the company has more than a century in business, its online experience for small businesses has contemporary features, like a bot that helps you choose coverage and buy a policy online.
Who it’s best for: Companies with less than $2 million in annual revenue that want to buy a BOP online.
How to shop: Online, or with an independent agent for additional coverage types.
Review: Read NerdWallet’s review of Chubb business insurance.

Next Insurance

Best for comprehensive coverage sold online, plus a digital certificate of insurance.


NerdWallet rating 
Why we like it: Next sells all the business insurance policies most entrepreneurs need online. You can shop using Next’s highly specific industry-tailored packages — for fitness professionals, contractors, Amazon sellers and more — and buy several policies in one transaction. 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.
Who it's best for: Companies that need multiple types of coverage, like commercial auto insurance and general liability insurance, and often need to provide a certificate of insurance.
How to shop: Online.
Review: Read NerdWallet’s review of Next Insurance.


Best for commercial auto insurance.


NerdWallet rating 
Why we like it: 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.
Who it's best for: Businesses that rely on vehicles for their work and prioritize commercial auto coverage.
How to shop: You can start the process online, though you may have to talk to an agent to complete your purchase.
Review: Read NerdWallet’s review of Progressive business insurance.


Best for short-term coverage.


NerdWallet rating 
Why we like it: Thimble is a useful option for very small businesses that need coverage to comply with contractual requirements — for instance, if you need general liability insurance before vending at a farmer’s market or teaching a fitness class. You can get coverage online and buy a policy that lasts only a short time, if that’s the best fit for your company.
Who it's best for: Sole proprietors, independent contractors and business owners who only need temporary coverage.
How to shop: Online.
Review: Read NerdWallet’s review of Thimble business insurance.

The Hartford

Best for getting a quote online and adding additional coverage to a BOP.


NerdWallet rating 
Why we like it: The Hartford is a longtime commercial insurer that stands out for the option to tack on data breach, professional liability, workers’ comp and commercial auto coverage when you buy a business owner’s policy. That might provide all the coverage some businesses need. Plus, you can get a quote online or over the phone — which can provide a useful point of comparison while you’re evaluating quotes from other insurers. You will need to work with an agent if you want to purchase a policy, though.
Who it’s best for: Small- to medium-sized businesses that prefer working with an insurance agent.
How to shop: You can get a quote online, then work with an independent agent to complete your purchase.
Review: Read NerdWallet’s review of The Hartford business insurance.


Best for businesses with specialized risks that need a wide variety of coverage types.


NerdWallet rating 
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. It has one key drawback, however — you can't get a quote or buy a policy online. Instead, you'll need to work with an independent agent. But if you'd prefer a personal touch and aren't in a hurry to get coverage, Travelers is tough to beat.
Who it’s best for: Businesses large enough to require tailored insurance packages.
How to shop: With an independent agent.
Review: Read NerdWallet’s review of Travelers business insurance.


Best for companies that need other business services, like retirement plans.


NerdWallet rating 
Why we like it: Nationwide is a longstanding insurance company that offers virtually every type of coverage — plus other services that can be difficult to manage on your own, like setting up retirement plans for your staff. You can get a quote online to understand how much coverage might cost, then work with an agent to make sure you have everything you need.
Who it’s best for: Businesses that need insurance plus additional financial services, like retirement plans and bonding.
How to shop: You can get a quote online, then work with an independent agent to complete your purchase.
Review: Read NerdWallet’s review of Nationwide business insurance.

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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.
The right insurance for your business will depend on your industry, company size and location, among other factors. NerdWallet recommends getting business insurance quotes from several providers so you can find the best coverage at the best price.
Want to compare quotes from multiple insurance companies at once? Consider using an online broker, like these:

What is business insurance?

Commercial insurance protects your business assets in case things go wrong.
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 make sure your business is protected.
  1. 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.
  2. Find out if your contracts require insurance. Landlords, lenders and contractors may require certain types of coverage before doing business with you.
  3. 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.
  4. 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.

How much does business insurance cost?

Get a quote to find out.
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.
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.

Reasses your business insurance needs regularly

You may need more coverage as your business grows.
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.

Frequently Asked Questions


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 2018-2021.
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.
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