Next Business Insurance Review 2025: Pros, Cons, Alternatives

Next Insurance is a business insurance company that sells policies online. It’s a good fit for small-business owners who need coverage fast and prefer managing their policies, claims and certificates of insurance digitally.

Next is a relative newcomer to the business insurance industry — it was only founded in 2016. Still, the company has an “excellent” financial strength rating from AM Best. In March 2025, major global insurance company Munich Re announced plans to buy the startup.

Next insurance pros and cons

Next business insurance policies

Next offers a number of policies that can be purchased individually or bundled together for up to a 10% discount.

» MORE: What does business insurance cover?

Fast online purchase process

Next says its customers can buy policies online in a matter of minutes. If your primary goal is getting coverage — to comply with a contract, for instance — shopping with Next is likely quicker than making an appointment with a local agent. The purchase process is straightforward and intuitive.

Specific recommendations for smaller businesses

Next has long offered insurance to Amazon sellers, carving out a niche serving small online businesses, and the company continues to focus on the basic policies that most business owners need. That includes tailored recommendations for professions like subcontractors, fitness instructors, and artists and entertainers. If you’re new to shopping for business insurance, Next should give you a good sense of what policies you need.

Digital certificates of insurance

If you frequently need to provide proof of insurance, Next makes it easy to do so. Policyholders can access their certificate of insurance online instantly instead of having to request a copy. You can also add additional insureds online if you need to extend your coverage to others, like clients or subcontractors.

Can’t compare quotes

Next says its prices are competitive, but the only way to be sure is to get business insurance quotes from multiple companies. To find the lowest price, try shopping with an online insurance marketplace like Simply Business or Coverdash.

Marketplaces generate quotes from several different insurance providers, and you can purchase one online. You can often manage your policy through the marketplace as well.

Limited coverage types

Next doesn’t sell more specialized coverages, like builder’s risk insurance or employment practices liability insurance. If you need such policies, you’ll likely want to work with an insurance agent who can help you purchase them from a longstanding company like Chubb.

Not all customers work with agents

Some insurance agents can sell Next policies. But if you go directly to Next’s website, you won’t necessarily connect with one. That’s not necessarily bad.

Still, if you want someone to work with while you choose policies — or down the road when you navigate any future claims — find a local business insurance agent. That's a better first step.

How to get a Next business insurance policy

Since Next may require you to upload digital copies of some business documents, it’s a good idea to have the following information on hand before beginning your online application:

• Basic information about your business, including your annual sales receipts.

• Where applicable, construction details on any buildings you own including age, material and square footage.

• The number of workers you employ, as well as their employment information. Some states require workers’ compensation coverage for contractors as well.

• For commercial auto or fleet insurance, you will need to list your vehicle types, vehicle identification numbers and the names of any drivers.

• Details on any prior insurance claims your company may have made.