The insurance that you need for your small business depends on what type of business you have and your specific risks. The company offers other types of business insurance including commercial auto, cyber liability, surety bonds, and workers’ comp, although prices vary by industry.īecause Travelers operates in the U.S., Canada, and the U.K., the company is well-suited to provide coverage for companies that do business internationally. In fact, the company writes so much property insurance that it ranked as the 2021 number-six writer of commercial property insurance in the United States, according to the Insurance Information Institute. However, the company has developed considerable expertise in commercial property insurance. Travelers has insurance solutions that are designed to meet the needs of companies in more than 25 industries including transportation, manufacturing, construction, retail, and public entities. Paul Companies and has an A++ rating from AM Best. The company as it’s known today was formed in 2004 with the merger of Travelers and St. Travelers is another storied company with a history that stretches back to 1864, when one of its founders started writing accident insurance for two-cent premiums. Customized solutions are available for 180+ different industries including salons, fitness instructors, consultants, therapists, janitors, and acupuncturists. The company boasts coverage for many industries and policy types. Hiscox offers standard liability coverage limits up to $2 million, but higher limits are available upon underwriting approval. The company also writes all the business insurance policies sold by GEICO.
Hiscox offers a core lineup of business insurance products including commercial general liability, professional liability, business owners’ policies (BOPs), workers’ compensation, cyber liability, commercial auto, and employment practices liability insurance (EPLI).
Hiscox does business in 14 countries and all 50 states, plus the District of Columbia, although it's small business insurance is not available in Alaska. corporate headquarters is in Atlanta, Georgia and operates in nine offices across the country. Although the parent company Hiscox Group is based in Bermuda, the U.S. Hiscox was started in 1901 as an underwriter in Lloyd’s market. Every State Farm agency is independently owned, so every agent understands the unique needs of small business owners-they are business owners themselves. However, if you're happy with your State Farm business coverage, you could get home and auto coverage from them and save. The discounts are not for bundling business coverage. In addition to business coverage, State Farm offers discounts for policyholders who combine certain types of coverage, though discounts vary based on the types of coverage being bundled. State Farm also offers business insurance that is designed specifically for certain industries such as contractors, professional services, caterers and retailers. State Farm sells insurance in most states and offers policies designed for each stage of a company’s growth cycle including general liability, professional liability, and other types of coverage that can be added onto policies to suit individual needs. It has an A++ rating for financial stability from AM Best.
Though best known for auto and home insurance, State Farm has about 100 products including financial services, banking, and commercial insurance. Mecherle, a retired farmer and insurance salesman. State Farm was established in 1922 by G.J. Read on to see who has the best small business insurance that meets your needs. We compared more than a dozen of the country’s best insurance companies-as well as several brokers-based on the types of coverage they offer, the industries they serve, their ratings for financial stability, and customer satisfaction to identify those that best meet the needs of small businesses. After all, not having the right types of insurance can be the same as not having it at all, leaving businesses with no protection against many types of losses. It’s important for business owners not to leave themselves vulnerable, and to make sure they have the insurance they need to cover all of the risks present in their business. Read our advertiser disclosure for more info.Īccidents happen all the time, and business owners need to be protected in case there's an accident in the workplace-especially since the average customer injury insurance claim is for $35,000.
We may receive compensation if you visit partners we recommend. We recommend the best products through an independent review process, and advertisers do not influence our picks.