Our take
The best business insurance carrier depends entirely on what you do. A freelance consultant has very different needs than a contractor with employees or a SaaS founder with enterprise clients.
We weighted four factors: coverage relevance to common small-business types (35%), cost (30%), underwriting accessibility (20%), and customer experience (15%). Data sources include public filings, customer complaint indices, and review platform sentiment.
Skip to the carrier that fits your business type, or read all six summaries below.
The top 6
A quick visual comparison. Hover any row to focus the comparison.
For business, Hiscox is our top pick — but the right carrier depends on what matters most to you. Read on for the trade-offs.
Hiscox
Best for freelancers and consultants
Why people like Hiscox
Hiscox specializes in coverage for small professional services firms and freelancers, with easy online quoting and good E&O products.
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Pros
- Best-in-class E&O for professionals
- Fast online quote and bind
- Tailored to small services firms
Cons
- Not ideal for larger small businesses
- Limited workers' comp footprint
The Hartford
Best for bops and bundled coverage
Why people like The Hartford
The Hartford is a top choice for the bundled Business Owner's Policy (BOP) sweet spot — general liability plus property in one package.
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Pros
- Strong BOP product
- Industry-specific bundles
- Solid digital tools
Cons
- Higher pricing than online-first carriers
- Strict underwriting in some industries
Next Insurance
Best for online buying experience
Why people like Next Insurance
Next Insurance is the digital-native choice for small business buyers who want a quote and policy in under 10 minutes.
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Pros
- Fastest online buying experience
- Strong for trades and services
- Customizable certificates of insurance
Cons
- Smaller carrier (less brand recognition)
- Limited support for complex risks
Chubb
Best for larger small businesses
Why people like Chubb
Chubb is the prestige carrier when small business grows up. Higher premiums but broader limits and more sophisticated coverage.
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Pros
- Premium coverage limits
- Excellent claims reputation
- Strong international capability
Cons
- More expensive than mass-market peers
- Underwriting can be selective
biBerk (Berkshire Hathaway)
Best for workers' compensation
Why people like biBerk (Berkshire Hathaway)
BiBerk's workers' comp pricing is consistently competitive and its parent company's financial strength is unmatched.
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Pros
- Competitive workers' comp pricing
- Backed by Berkshire Hathaway
- Fast online quoting
Cons
- Limited coverage variety vs full-service carriers
- Newer brand recognition
Travelers
Best for industry-specific products
Why people like Travelers
Travelers offers some of the deepest industry-specific products in the small business segment, from construction to professional services.
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Pros
- Industry specialization
- Strong claims process
- Broad agent network
Cons
- Less competitive online experience
- Pricing varies by region
How we rated business insurance companies
Our rankings reflect a comprehensive analysis of rates, customer satisfaction data, coverage breadth, and financial strength. We don't accept payment for placement on this list.
What we evaluated in detail
- Coverage relevance (35%): how well core products fit common small-business types — consulting, retail, food service, trades, professional services
- Pricing (30%): comparative quotes pulled across the same five industries, normalized to comparable coverage levels
- Underwriting accessibility (20%): ease of getting coverage for non-standard business types and online application speed
- Customer experience (15%): J.D. Power Commercial Lines Customer Satisfaction, NAIC complaint data, and review-platform sentiment
Frequently asked questions
What's a BOP?
Business Owner's Policy bundles General Liability and Commercial Property at a discount. Good fit for most small businesses.
Do I need workers' comp if I have no employees?
Depends on state. Sole proprietors are exempt in most states; LLCs and corps usually need it once they hire anyone.
Is cyber liability worth it?
If you store any customer data, almost always yes. Average data-breach cost dwarfs the annual premium.
What's the difference between general liability and professional liability?
General liability covers bodily injury and property damage from your business operations — a customer slipping in your store. Professional liability (E&O) covers financial harm from your professional advice or services — a missed deadline costing a client money. Most service businesses need both.
Do I need commercial auto if I use my personal car for work?
If you use your vehicle regularly for business (deliveries, client visits, hauling equipment), yes. Personal auto policies often exclude business use, and a claim during business activity can be denied. Rideshare and delivery drivers especially need commercial coverage or a rideshare endorsement.
How much general liability coverage do I need?
$1M per occurrence / $2M aggregate is the standard small-business default and what most commercial leases and client contracts require. Higher-risk industries (construction, events) or larger contracts often push you to $2M/$4M or umbrella coverage on top.