Article
Top 10 Best Commercial Property Insurance Companies of 2026
Protect your business property from fire, theft, and natural disasters. Our experts compared coverage limits, pricing, and claims handling to identify the best commercial property insurers.
Commercial property insurance protects your business buildings, equipment, inventory, and furnishings from fire, theft, weather damage, and other covered perils. Without it, a single disaster could destroy everything you’ve built.
Our team analyzed coverage limits, pricing, financial ratings, and claims handling across the commercial property insurance market. Here are the best commercial property insurance companies for 2026.
Quick Comparison
| Company | Best For | Starting Price | Rating |
|---|---|---|---|
| 1. Travelers | Best Overall Coverage | $55/mo | ★4.9/5 |
| 2. The Hartford | Best for Small Business Properties | $50/mo | ★4.8/5 |
| 3. Chubb | Best for High-Value Properties | $100/mo | ★4.9/5 |
| 4. Nationwide | Best Multi-Location Coverage | $67/mo | ★4.7/5 |
| 5. NEXT Insurance | Best Digital Experience | $45/mo | ★4.6/5 |
| 6. Hiscox | Best Budget Option | $42/mo | ★4.7/5 |
| 7. Liberty Mutual | Best Customizable Coverage | $70/mo | ★4.6/5 |
| 8. State Farm | Best Local Agent Support | $60/mo | ★4.5/5 |
| 9. Progressive Commercial | Best for Property + Auto Bundle | $65/mo | ★4.5/5 |
| 10. CNA | Best for Specialized Properties | $75/mo | ★4.6/5 |
Our Top Picks in Detail
Travelers
Travelers leads with exceptional coverage limits up to $40 million per building and the highest financial strength ratings. Their comprehensive BOPs bundle property, liability, and business interruption coverage for complete protection.
Pros
- ✓Highest AM Best rating (A++)
- ✓Coverage up to $40 million per building
- ✓Nation's second-largest commercial insurer
- ✓Comprehensive BOP packages
- ✓Excellent claims handling reputation
Cons
- ✗Higher premiums than some competitors
- ✗May require agent for complex properties
- ✗Minimum premium requirements
The Hartford
The Hartford excels at protecting small business properties with affordable BOPs that include property, liability, and business interruption coverage. Their streamlined process and strong ratings make them ideal for main street businesses.
Pros
- ✓Affordable rates for small properties
- ✓A+ AM Best rating
- ✓Easy online quote process
- ✓Equipment breakdown coverage available
- ✓Strong customer service
Cons
- ✗Lower coverage limits than some competitors
- ✗May not cover very high-value properties
- ✗Some specialized properties require underwriting
Chubb
Chubb specializes in high-value commercial properties with extended replacement cost coverage and cash settlement options. Their 98% claims satisfaction rate and global presence serve businesses with sophisticated property needs.
Pros
- ✓98% claims satisfaction rate
- ✓Extended replacement cost coverage
- ✓Masterpiece coverage for unique properties
- ✓Global claims handling capability
- ✓Enhanced business interruption coverage
Cons
- ✗Premium pricing for premium coverage
- ✗Requires agent consultation
- ✗Higher deductibles typical
Nationwide
Nationwide's extensive presence in all 50 states and multi-location discounts make them ideal for businesses with multiple properties. Their comprehensive coverage includes business income protection and equipment breakdown.
Pros
- ✓Serves businesses in all 50 states
- ✓Multi-location discounts available
- ✓Strong financial ratings (A+)
- ✓Equipment breakdown coverage
- ✓Business income protection included
Cons
- ✗Pricing varies significantly by location
- ✗Online capabilities limited
- ✗May require agent for multi-location policies
NEXT Insurance
NEXT Insurance revolutionizes commercial property coverage with instant online quotes covering buildings, inventory, and equipment. Perfect for small business owners who need fast, affordable protection for standard properties.
Pros
- ✓Instant online quotes and coverage
- ✓Serves over 300,000 businesses
- ✓Covers buildings, inventory, and equipment
- ✓No agent required
- ✓Affordable pricing
Cons
- ✗Limited to smaller properties
- ✗Maximum coverage lower than competitors
- ✗Not suitable for high-value buildings
Hiscox
Hiscox provides the most affordable commercial property insurance for small businesses at just $42 per month. Their expertise in micro and small business coverage delivers essential protection without breaking the budget.
Pros
- ✓Most affordable rates from $42/month
- ✓A (Excellent) AM Best rating
- ✓Designed for small businesses
- ✓Fast online application
- ✓Small business specialists
Cons
- ✗Lower coverage limits
- ✗Limited to smaller properties
- ✗Fewer customization options
Liberty Mutual
Liberty Mutual excels at customizing commercial property coverage to match your specific needs. Their flexible options and multi-policy discounts serve businesses requiring tailored protection beyond standard policies.
Pros
- ✓Highly customizable coverage options
- ✓Replacement cost coverage standard
- ✓Equipment breakdown available
- ✓Multi-policy bundling discounts
- ✓Nationwide availability
Cons
- ✗Complex pricing structure
- ✗May require agent consultation
- ✗Higher premiums for some locations
State Farm
State Farm's vast network of local agents provides personalized commercial property coverage guidance. Their A++ rating and multi-policy discounts benefit businesses preferring face-to-face relationships.
Pros
- ✓Extensive local agent network
- ✓A++ financial strength rating
- ✓Multi-policy discounts available
- ✓Personalized service
- ✓Available in all states
Cons
- ✗Must work through local agent
- ✗Limited online capabilities
- ✗Rates vary by location and agent
Progressive Commercial
Progressive Commercial offers competitive property coverage especially when bundled with their industry-leading commercial auto insurance. Businesses with vehicle fleets benefit most from their bundling discounts.
Pros
- ✓Excellent bundling with commercial auto
- ✓A+ AM Best rating
- ✓Strong online quote system
- ✓Competitive bundled pricing
- ✓Good claims handling
Cons
- ✗Property coverage not their specialty
- ✗Better rates with auto bundle
- ✗Limited specialty property options
CNA
CNA specializes in complex and unique commercial properties requiring customized coverage. Their industry expertise and risk control services serve businesses with specialized properties beyond standard coverage.
Pros
- ✓Specialized industry expertise
- ✓Customized coverage for unique properties
- ✓Risk control services included
- ✓Strong financial ratings
- ✓Global capabilities
Cons
- ✗Higher premiums for specialized coverage
- ✗Requires agent/broker
- ✗Minimum premium requirements
How We Evaluate Commercial Property Insurance
Our expert team uses rigorous criteria to evaluate commercial property insurance companies:
Financial Strength
We prioritize insurers with strong ratings:
- AM Best ratings: A++ to A- insurers only
- Claims-paying ability: Track record during major disasters
- Company stability: Years in business and market share
Coverage Limits and Options
We evaluate maximum protection available:
- Maximum coverage per building (up to $40 million+)
- Replacement cost vs. actual cash value
- Business interruption and extra expense coverage
- Equipment breakdown and spoilage coverage
- Ordinance or law coverage for building code upgrades
Pricing and Value
We compare costs across the industry:
- Average monthly premiums ($42-$100+ per month)
- Deductible options and flexibility
- Multi-policy bundling discounts
- Value of included coverages vs. add-ons
Claims Handling
We assess the claims experience:
- Claims satisfaction ratings (Chubb leads at 98%)
- Speed of claims processing
- Advance payment availability
- Quality of loss control services
Frequently Asked Questions
What does commercial property insurance cover?
Commercial property insurance covers your business buildings, equipment, inventory, furniture, and fixtures against fire, theft, vandalism, and weather damage (excluding floods and earthquakes, which require separate policies). Most policies also cover business interruption, providing income replacement if you must temporarily close due to covered damage.
How much does commercial property insurance cost?
The average commercial property insurance policy costs $67 per month for small businesses, according to Insureon. However, costs range from $42 to $100+ per month depending on property value, location, construction type, security features, claims history, and coverage limits. High-value properties can cost significantly more.
What’s the difference between replacement cost and actual cash value?
Replacement cost coverage pays to rebuild or replace damaged property with new items of similar quality, without deducting for depreciation. Actual cash value pays the depreciated value of damaged property, which may not be enough to fully replace it. Replacement cost coverage costs more but provides better protection.
Is business interruption coverage included?
Business interruption (also called business income) coverage is typically included in Business Owner’s Policies (BOPs) but may be optional or separate in standalone commercial property policies. It replaces lost income and covers ongoing expenses if your business must close temporarily due to covered property damage.
Does commercial property insurance cover floods and earthquakes?
No, standard commercial property insurance excludes flood and earthquake damage. You must purchase separate flood insurance (available through the National Flood Insurance Program or private insurers) and earthquake insurance if you’re in at-risk areas. This is especially critical for businesses in coastal or seismic zones.
How can I lower my commercial property insurance costs?
Install fire suppression systems, burglar alarms, and security cameras to qualify for safety discounts. Increase your deductible if you have adequate emergency funds. Bundle property with liability, workers’ comp, or commercial auto for multi-policy discounts. Maintain a claims-free history and implement loss prevention programs. Consider a BOP instead of separate policies.