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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.

  • 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.

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.

NerdWallet Business Insurance.

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NerdWallet Small Business helps you get the right coverage based on partnerships with more than 20 national carriers. Get quality customer service and guidance through our partner, Turbo.

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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.

5.0

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.

Pros

Simple online shopping experience that most businesses can likely complete in a few minutes.

BOP includes business interruption and extra expense coverage.

Received fewer commercial property insurance complaints to state regulators than expected for a company of its size.

Cons

If you have more than $2 million in annual revenue, you'll need to talk with an agent or shop elsewhere.

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.

Read our review of Chubb business insurance.

Next Insurance

Best for: Online business insurance

4.5

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.

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.

Received fewer commercial property and commercial auto insurance complaints to state regulators than expected for a company of its size.

Cons

Can’t file claims over the phone, only online.

  • 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.

Read our review of Next Insurance.

Travelers

Best for: Working with an agent.

5.0

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. You can’t get a quote or buy a policy online — but if your business needs more than a BOP and commercial auto insurance, it’s a good idea to start a relationship with an agent 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.

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.

Received fewer commercial property insurance complaints and far fewer commercial auto insurance complaints to state regulators than expected for a company of its size.

Cons

You can’t get a quote or purchase a policy online.

  • 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.

Read NerdWallet’s review of Travelers business insurance.

Nationwide

Best for: Additional services, like retirement plans.

5.0

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.

Pros

Can get a quote online.

Wide variety of coverage types, including specialty products like surety bonds.

Nationwide also offers other business financial services, like employee retirement plans and a high-yield business savings account.

Cons

Must contact an agent to purchase a policy.

  • General liability insurance.

  • BOP.

  • Commercial property insurance.

  • Business income insurance.

  • Professional liability insurance.

  • Commercial auto insurance.

  • Workers’ comp.

  • Commercial crime insurance.

  • Employment practices liability insurance.

  • Cyber liability insurance.

  • Equipment breakdown insurance.

  • Umbrella insurance.

  • Inland marine insurance.

  • Builder’s risk insurance.

  • Directors and officers insurance.

  • Surety bonds.

Read NerdWallet’s review of Nationwide business insurance.

Progressive

Best for: Commercial auto insurance

4.5

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.

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

Some policies are written by different insurance companies, which means you’ll have to work with those companies (not Progressive) to file claims.

You’ll generally have to contact a customer support agent to get a copy of your COI or add an additional insured.

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.

Read NerdWallet’s review of Progressive business insurance.

Thimble

Best for: Short-term coverage.

4.0

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.

Pros

Policies available one job, month or year at a time.

Policyholders can access their COI online and add an additional insured anytime. If you manage contractors, you can use Thimble’s Certificate Manager tool to ensure that everyone has compliant coverage.

Thimble’s unique “event insurance” bundles include liquor liability and general liability coverage.

Cons

For customer support, you’ll have to submit a ticket online. There’s no phone-based assistance.

Thimble sells policies underwritten by other insurance companies, which means you’ll have to work with those companies (not Thimble) to finish the claims process.

Commercial auto insurance isn’t available.

Thimble’s policies are underwritten by other insurance companies. Make sure you know who underwrites your policies so you know who to contact in the event of a claim.

  • General liability insurance.

  • BOP. 

  • Commercial property insurance.

  • Professional liability insurance.

  • Workers’ comp.

  • Event insurance, which includes liquor liability coverage. 

  • Cyber insurance.

  • Business equipment insurance.

Read NerdWallet’s review of Thimble business 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:

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.

NerdWallet Business Insurance.

Save up to 30% on business insurance

NerdWallet Small Business helps you get the right coverage based on partnerships with more than 20 national carriers. Get quality customer service and guidance through our partner, Turbo.

Get Quotes

via Turbo

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

General liability insurance

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.

Find provider

Commercial auto insurance

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.

Find provider

Workers’ compensation

If an employee is injured on the job.

Businesses with employees. Required by law in most states.

Find provider

Professional liability insurance

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.

Find provider

Commercial property insurance

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.

Find provider

Business interruption insurance

If your business can’t generate revenue for a period of time.

Most businesses with recurring expenses.

Find provider

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.

  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.

  5. 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

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.

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.

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.

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.

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.

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.

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 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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