Next Business Insurance Review 2025: Pros, Cons, Alternatives
Next Insurance lets small-business owners shop online for general liability insurance, business owner's policies and more.
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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 July 2025, major global insurance company Munich Re bought Next.
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Next insurance pros and cons
Pros
Easy online application allows business owners to get coverage quickly.
You can get up to a 10% discount on bundled policies.
You can access your certificate of insurance online and share it with others digitally for free.
Cons
State regulators received far more complaints from Next commercial liability customers from 2019-21 than expected based on market share.
No phone support available during the quote process.
Some specialized types of business insurance, like key person insurance, are not available.
Nerdy Perspective
Next in the news
Time will tell what, if any, impact Munich Re's purchase of Next has on its customers. The Germany-based Munich Re has been an investor in Next since 2017, which could suggest continuity. But ownership changes create at least some uncertainty.
Insurance companies generally can’t suddenly cancel policies in good standing. They can decide not to renew them, though. Prices and coverage details may also change then. If you buy a policy from Next, pay closer-than-usual attention to when it expires and what your renewal terms are.
Insurance companies generally can’t suddenly cancel policies in good standing. They can decide not to renew them, though. Prices and coverage details may also change then. If you buy a policy from Next, pay closer-than-usual attention to when it expires and what your renewal terms are.
Next business insurance policies
Next offers a number of policies that can be purchased individually or bundled together for up to a 10% discount.
Business owner's policy
Next’s business owner's policy combines general liability and commercial property coverage, including business income insurance.
A BOP is a good idea for small businesses seeking:
- A single policy that provides multiple types of coverage.
- Insurance for a physical business location, equipment or inventory.
- Customer-facing businesses.
General liability insurance
General liability insurance, also called business liability insurance, protects you and your company when you are responsible for paying someone’s medical expenses, attorney fees or damage.
Next offers this product as part of a BOP or as an individual policy.
Commercial property insurance
Commercial property insurance, or business property insurance, protects your physical place of business in the event of damage or loss. Business personal property can include inventory, furniture and equipment, as well as any signage, storage sheds, landscaping and fences.
Commercial property insurance is the second component of coverage bundled in Next’s BOP, but it also can be purchased as an individual product.
Business income insurance
Next users can include business income insurance, also called business interruption insurance, as part of a BOP or purchase it as an individual product.
Business interruption insurance protects your company’s money and assets when business operations are disrupted by circumstances out of your control. This type of coverage can help you pay for lost business income, payroll, taxes, any temporary expenses that can arise as a result of missed operations and more.
Workers' compensation
and in some cases, contractors need to be covered as well. Workers’ comp can help pay for medical expenses, lost wages, survivor benefits, long-term disability and other costs incurred when your employees suffer injuries or illnesses that are related to work.
Self-employed business owners can even benefit from workers’ comp for themselves to cover any expenses that may not be covered under their personal health insurance policies.
Next Insurance says its workers’ comp costs start at $14 per month and the median policyholder pays $55 per month.
Professional liability insurance
This type of insurance protects you against claims that your professional service or advice caused someone harm. This can include accusations of business errors or poor financial outcomes, as well as claims of negligence and more.
Next offers the same policy under two names: professional liability insurance and errors and omissions insurance. These terms are often used interchangeably to talk about the same type of coverage.
Tools and equipment insurance
This type of insurance provides extra coverage for specialized or expensive equipment that can be pricey or difficult to replace. Tools and equipment insurance can help keep your business operating when you need quick replacements or repairs.
Next offers this coverage as an add-on to a general liability insurance policy.
Commercial auto insurance
Commercial auto insurance protects your company when you or your drivers are involved in auto-related incidents that result in damage or injury to yourself and others.
Hired and non-owned auto insurance can be added onto a commercial auto policy for companies that use rented vehicles to do business. Most auto insurance policies apply to vehicles that you own only, so hired auto insurance protects you and your employees if you get in an incident involving a rented car or truck.
Benefits and perks
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.
Save up to 30% on business insurance
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Drawbacks and alternatives
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.
Next used to list a phone number on its website that shoppers could call to connect with an agent during the quote process. That is no longer publicly available.
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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.
Our editorial team regularly reviews and updates our data to ensure consistency and accuracy. We also update our scoring on an ongoing basis to reflect changing industry norms and business owner needs. For instance, in 2026, we began evaluating how easy insurers make it to add an additional insured.
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. We use the most recent three years of data, which is currently 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.
