Popular Small Business Insurance Companies

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Running a business entails a wide range of tasks, and buying small business insurance is one of the most important. Small business insurance can help protect owners in case of unforeseen incidents, from a fire destroying inventory to an employee being injured on the job. Below, we have our rating of the Best Small Business Insurance Companies of 2022. We’ve also compiled information on how to find the best small business insurance company for you.

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Hiscox is the sole company in our rating that only offers business insurance products. It provides a wide variety of different policies including medical malpractice and short-term liability. A short-term liability policy provides general or professional liability coverage for shorter periods of time compared to traditional liability policies. This can be useful for contractors who only need coverage for the duration of a project, for example.

You can get quotes through its website, and if you’re already a policyholder you can also manage some aspects of your policy. However, some changes may require speaking to your agent or broker.

While it is available throughout most of the U.S., Hiscox business insurance isn’t available in Alaska.

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Travelers
4.1
U.S. News Rating
Travelers
PROS:

Discounts available

Wide range of coverages available

CONS:

No online quotes available

May need to contact agent for policy changes

AM BEST RATING
A
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
Travelers has a wide variety of policies available that can provide coverage for environmental liability, or if your business operates internationally. In addition, it has standard policies like general liability and business owners policies.

To obtain a quote, you’ll need to speak to a Travelers agent or broker. As a policyholder, you’ll also need to speak to your agent or broker to make certain changes to your policy.

It offers policies in all 50 states and Washington, D.C.

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Chubb
4.0
U.S. News Rating
Chubb
PROS:

Variety of policies available

Some policies can be purchased online

CONS:

May need to talk to agent if you have questions about your policy

AM BEST RATING
A++
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
Chubb has a large number of policies available that can be tailored to specific industries. For example, it offers professional liability policies tailored for industries like finance and engineering. With such a large number of policies and customization available, talking with an insurance agent may be the best way to get the most of Chubb’s coverages.

Chubb clients can manage their policy accounts online, including claims reporting. However, you may need to speak to an agent in order to complete some transactions.

Chubb is available throughout the United States.

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Allstate
4.0
U.S. News Rating
Allstate
PROS:

Large number of policies, including some industry-specific coverage

Available nationwide

CONS:

No online quotes or claim filing

AM BEST RATING
A+
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
Allstate offers most of the main business insurance products, including business owner policy (BOP), general liability, professional liability, and commercial auto. It doesn’t appear to offer workers’ compensation, unlike every other company in our rating.

While you can get a quote online, you won’t be able to file a claim online. The latter may not be an issue if you prefer to work with a person when filing a claim.

It is also available in all 50 states and Washington, D.C.

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State Farm
3.9
U.S. News Rating
State Farm
PROS:

Large number of policies, including some industry-specific coverage

Available nationwide

CONS:

No online quotes or claim filing

AM BEST RATING
A++
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
State Farm offers a large number of policies, including standard policies like a business owner policy (BOP), commercial auto, and workers’ compensation. It also has industry-specific coverage, such as for condominium and homeowners associations.

You won’t be able to get a quote online. You’ll have to work with a State Farm agent to obtain a quote. Given the number of policies available, this may be for the best. Policyholders also aren’t able to file a claim online.

State Farm is available in all 50 states and Washington, D.C.

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Nationwide
3.9
U.S. News Rating
Nationwide
PROS:

Industry-specific policies available

Policyholders can file claims online

CONS:

Not available in five states

May not be able to purchase a policy online

AM BEST RATING
A+
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
Nationwide has policies designed for niche businesses like breweries, pet shops, and consulting firms. It also offers policies providing coverage for cybersecurity, employment practices, and directors and officers.

Policyholders can file a claim online, but potential customers can’t purchase a policy online.

Nationwide is available in all states except Alaska, Hawaii, Louisiana, Massachusetts, and New Jersey.

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Progressive
3.8
U.S. News Rating
Progressive
PROS:

Offers a wide variety of policies

Online quotes available

CONS:

Lacks some industry-specific coverages offered by other companies in our rating

AM BEST RATING
A+
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
Progressive offers a number of different products ranging from business owner policies (BOPs) to cybersecurity, as well as a variety of commercial auto and truck coverages. Depending on your business, this may help to balance a lack of industry-specific coverages offered by other companies in our rating. For example, Progressive doesn’t offer medical malpractice insurance, nor does it sell farm and ranch policies.

It is available in all 50 states as well as Washington, D.C., and offers quotes online.

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The Hartford
3.8
U.S. News Rating
The Hartford
PROS:

Wide variety of business insurance policies

Available in all 50 states and Washington, D.C.

CONS:

Some regions have fewer agencies than others

AM BEST RATING
A+
CAN FILE CLAIMS ONLINE
GENERAL LIABILITY
PROFESSIONAL LIABILITY
WORKERS’ COMPENSATION
The Hartford has a lot of business insurance policies. If you look at its Ocean Marine policies alone it has Ocean Cargo, Marine General Liability, and Hull & Machinery policies. These policies can be tailored by adding endorsements to improve coverage. And if your business works across national borders it can provide multinational coverage as well.

The Hartford sells policies in all 50 states and Washington, D.C. However, some areas may not have the same density of agencies as others.

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