Article
Top 10 Best Business Insurance Companies of 2026
Protect your business with comprehensive coverage. Our experts compared rates, coverage options, and customer satisfaction to identify the most reliable business insurance providers.
Business insurance protects your company from financial losses due to lawsuits, property damage, injuries, and other unexpected events. The right coverage ensures your business can survive claims that would otherwise drain your resources or force closure.
Our team spent over 300 hours researching business insurance companies, analyzing financial ratings, policy options, customer reviews, and pricing across 79 industries. Here are the best business insurance companies for 2026.
Quick Comparison
| Company | Best For | Starting Price | Rating |
|---|---|---|---|
| 1. The Hartford | Best Overall for Small Business | $17/mo | ★4.9/5 |
| 2. NEXT Insurance | Best Digital Experience | $16/mo | ★4.9/5 |
| 3. Travelers | Best for Professional Liability | $25/mo | ★4.8/5 |
| 4. Nationwide | Best for Multi-Policy Bundling | $30/mo | ★4.7/5 |
| 5. Chubb | Best for High-Value Businesses | $50/mo | ★4.8/5 |
| 6. Progressive Commercial | Best for Commercial Auto | $35/mo | ★4.6/5 |
| 7. Thimble | Best for On-Demand Coverage | $15/mo | ★4.5/5 |
| 8. Hiscox | Best for Professional Services | $22/mo | ★4.7/5 |
| 9. Liberty Mutual | Best for Comprehensive BOP | $40/mo | ★4.6/5 |
| 10. Simply Business | Best for Comparing Quotes | $25/mo | ★4.5/5 |
Our Top Picks in Detail
The Hartford
The Hartford leads the market with exceptional financial strength and affordable rates for small businesses. Their comprehensive coverage options and streamlined online process make them ideal for businesses seeking reliable protection.
Pros
- ✓A+ AM Best financial rating
- ✓Competitive rates starting at $17/month
- ✓Fast online application process
- ✓Excellent customer service reputation
- ✓Wide range of coverage options
Cons
- ✗Some specialized industries not covered
- ✗May require agent for complex policies
- ✗Premium increases possible at renewal
NEXT Insurance
NEXT Insurance revolutionizes small business coverage with a fully digital platform that delivers instant quotes and certificates. Perfect for freelancers and sole proprietors who need fast, affordable coverage.
Pros
- ✓10-minute online application
- ✓Instant coverage and certificates
- ✓No agent required
- ✓Serves over 300,000 businesses
- ✓Affordable pricing from $16/month
Cons
- ✗Limited to smaller businesses
- ✗Coverage caps lower than competitors
- ✗Less suitable for complex needs
Travelers
Travelers combines exceptional financial strength with comprehensive professional liability coverage. Their customizable BOP packages and stellar claims service make them ideal for businesses with complex exposure needs.
Pros
- ✓Highest AM Best rating (A++)
- ✓Second-largest commercial insurer
- ✓Excellent professional liability options
- ✓Customizable BOP packages
- ✓Strong claims handling reputation
Cons
- ✗Higher premiums than some competitors
- ✗Complex policy options
- ✗May require agent consultation
Nationwide
Nationwide's extensive reach and multi-policy discounts make them ideal for businesses consolidating insurance needs. Their financial strength and comprehensive options serve businesses of all sizes across the country.
Pros
- ✓Serves over 500,000 businesses
- ✓Multi-policy discounts available
- ✓Available in all 50 states
- ✓Strong financial ratings (A+)
- ✓Extensive coverage options
Cons
- ✗Pricing varies significantly by location
- ✗Some policies require agent
- ✗Online tools less advanced than digital-first competitors
Chubb
Chubb specializes in high-value business insurance with enhanced BOPs that include data breach and earthquake coverage. Their global presence and premium customization serve businesses with sophisticated needs.
Pros
- ✓Serves businesses up to $30M revenue
- ✓Comprehensive BOP enhancements
- ✓98% claims satisfaction rate
- ✓Global coverage capabilities
- ✓Premium policy customization
Cons
- ✗Higher premiums than competitors
- ✗Requires agent interaction
- ✗Minimum premium requirements
Progressive Commercial
Progressive dominates commercial auto insurance with exceptional claims handling and competitive rates. Businesses with vehicle fleets benefit from their extensive experience and bundling opportunities.
Pros
- ✓Largest commercial auto insurer
- ✓Excellent claims handling
- ✓Competitive bundling discounts
- ✓Strong online quote system
- ✓Decades of commercial experience
Cons
- ✗Less competitive for non-auto coverage
- ✗Customer service varies by region
- ✗Limited specialty coverage options
Thimble
Thimble's flexible pay-per-job model revolutionizes insurance for freelancers and gig workers. Their instant coverage and affordable premiums help small business owners on tight budgets get protected quickly.
Pros
- ✓Pay by job, month, or year
- ✓Instant certificates of insurance
- ✓Extremely affordable premiums
- ✓Perfect for freelancers
- ✓No long-term commitments
Cons
- ✗Lower coverage limits
- ✗Limited to certain industries
- ✗Less suitable for full-time businesses
Hiscox
Hiscox excels at protecting professional service businesses with tailored errors and omissions coverage. Their expertise in professional liability and competitive pricing serve consultants, designers, and tech professionals.
Pros
- ✓Specializes in professional liability
- ✓Competitive pricing for services
- ✓Small business specialists
- ✓Excellent customer service
- ✓Tech-friendly application
Cons
- ✗Limited to service-based businesses
- ✗Lower coverage caps than competitors
- ✗Not ideal for product-based businesses
Liberty Mutual
Liberty Mutual's comprehensive BOPs and customizable options serve businesses seeking thorough protection. Their multi-policy discounts and strong service make them a reliable choice for growing companies.
Pros
- ✓Comprehensive BOP packages
- ✓Customizable coverage options
- ✓Strong customer service
- ✓Multi-policy discounts
- ✓Nationwide availability
Cons
- ✗Higher premiums for some industries
- ✗Complex pricing structure
- ✗Some policies require agent
Simply Business
Simply Business streamlines insurance shopping by comparing quotes from multiple carriers in one place. Their transparent platform helps small businesses find the best rates without the hassle of contacting multiple insurers.
Pros
- ✓Compare multiple carriers instantly
- ✓Fast online quote process
- ✓Access to multiple insurers
- ✓Transparent pricing comparison
- ✓No broker fees
Cons
- ✗Service depends on selected carrier
- ✗Limited direct customer support
- ✗Not a direct insurer
How We Evaluate Business Insurance Companies
Our expert team uses rigorous criteria to evaluate business insurance companies. Here’s our methodology:
Financial Strength
We analyze ratings from independent agencies:
- AM Best: The primary insurance rating agency (A++ to D ratings)
- S&P, Moody’s, Fitch: Additional financial stability metrics
- Claims-paying history: Track record of honoring policies during disasters
Coverage Options
We evaluate policy flexibility including:
- General liability for customer injuries and property damage
- Professional liability (errors and omissions) for service businesses
- Business Owner’s Policies (BOPs) combining multiple coverages
- Workers’ compensation, commercial auto, and cyber liability options
Pricing and Value
We compare costs across insurers:
- Average monthly premiums by industry (79 industries analyzed)
- Price competitiveness for small businesses
- Value of included benefits vs. add-ons
- Multi-policy bundling discounts
Application Experience
We assess the buying process:
- Online quote availability and speed
- Agent-required vs. self-service options
- Certificate of insurance delivery time
- Ease of coverage customization
Frequently Asked Questions
What types of business insurance do I need?
Most small businesses need general liability insurance at minimum, which covers customer injuries and property damage claims. Depending on your industry, you may also need professional liability, workers’ compensation (required in most states if you have employees), commercial property insurance, and commercial auto if you use vehicles for business.
How much does business insurance cost?
The average cost of general liability insurance is $42 per month or $500 per year for small businesses. Business Owner’s Policies (BOPs) average around $115 per month. Workers’ compensation averages $74 per month for businesses with 2 employees and $150,000 in payroll. Actual costs vary widely based on your industry, location, coverage limits, and claims history.
What is a Business Owner’s Policy (BOP)?
A Business Owner’s Policy bundles general liability insurance and commercial property insurance into one package at a discounted rate. BOPs often include business interruption coverage and typically cost less than purchasing each policy separately. Most businesses with under $3 million in annual revenue and fewer than 100 employees qualify for BOPs.
Can I buy business insurance online?
Yes, many insurers now offer online quotes and instant coverage, including NEXT Insurance, Thimble, The Hartford, and Hiscox. You can complete applications in 10 minutes or less and receive certificates of insurance immediately. More complex coverage needs may still require consulting with an agent.
Does business insurance cover cyber attacks?
Standard general liability and BOPs typically do not cover cyber attacks or data breaches. You need separate cyber liability insurance to protect against hacking, data breaches, ransomware, and related lawsuits. Many insurers now offer cyber coverage as an add-on or standalone policy.
How can I save money on business insurance?
Bundle multiple policies with the same insurer for multi-policy discounts. Implement safety measures and risk management programs to qualify for lower rates. Consider higher deductibles if you have emergency funds. Pay annually instead of monthly to avoid installment fees. Work with independent agents or comparison platforms to find the best rates.