The best business insurance companies for most small businesses are biBerk for buying direct from a Berkshire Hathaway carrier, Next Insurance for fast online policies with instant certificates, and The Hartford for broad small business coverage with published average prices. Choose by how you want to buy (online direct, through an agent, or both), whether the carrier writes your industry, its AM Best rating, and side-by-side quotes for the same limits.
This guide is for small business owners buying a first policy or shopping a renewal. The right carrier depends less on the brand than on fit: whether it writes your industry in your state, whether you want to buy online or through an agent, and how strong its finances are when a large claim comes in.
Price is hard to compare because every quote depends on your payroll, location, claims history and limits. A few carriers publish average or median prices, and we use those as a starting point.
Below are our five picks with how each one sells, its AM Best rating and its coverage lines, followed by typical costs, the coverage most businesses need, how the rules change by state and industry, and red flags to watch for.
Company reviews
Best for buying direct from a Berkshire Hathaway carrier: biBerk
- How you buy
- Online direct
- AM Best rating
- A++
- Coverage lines
- Workers' comp
Why we picked it. biBerk sells Berkshire Hathaway-backed policies directly online, so no agent commission is built into the price, and the company says that can save up to 20%. Its parent's major insurers carry AM Best's top A++ rating, the highest AM Best rating on this list.
More details, pros and cons
Pros
- Buy and pay online with instant coverage
- Workers' comp is a core product, useful for employers
- File claims online
Cons
- No local agent to review your risks with you
- Coverage varies by state and line, so check the coverage map
- No published average prices
From $27.50/month
Skip it if: You want a local agent to package complex coverage, or you run a large or high-risk operation.
More about biBerk
Backed by immense financial strength, biBerk offers small businesses a highly efficient direct-to-consumer digital platform that cuts out middleman fees for fast, reliable coverage.
Best for fast online policies and instant certificates: Next Insurance
- How you buy
- Online direct
- AM Best rating
- A+, upgraded September 2025
- Coverage lines
- 14
Why we picked it. Next is built for owners who need proof of coverage today: you can quote, buy and download a certificate of insurance online. Since Next joined Munich Re's ERGO Group, AM Best has raised its rating to A+ (Superior).
More details, pros and cons
Pros
- Quote and buy online in about 10 minutes, with instant certificates
- Publishes a starting price for general liability
- Wide menu of small business lines, including tools and equipment
Cons
- The $19 starting price applies to low-risk classes, so your quote may be much higher
- Ownership and branding changed recently (now ERGO NEXT)
- Less suited to complex, multi-location risks
Coverage in minutes
Skip it if: You need an agent to negotiate custom terms or package specialty coverage.
More about Next Insurance
A fully digital platform designed for speed and convenience, allowing modern entrepreneurs to secure tailored coverage and live certificates in under ten minutes.
Consultants and service firms: Hiscox
- Starting Monthly Premium
- From $22.50
- Target Business Size
- Micro-businesses and consultants
- Service Model
- Digital and broker
- On-Demand/Short-Term Coverage
- No
Why we picked it. Operating with deep underwriting expertise, Hiscox excels in providing highly specialized errors and omissions coverage for knowledge-based and service businesses.
Pros and cons
Pros
- AM Best A (Excellent) financial strength rating
- Professional liability built for service businesses, from $270 a year
- Quotes and coverage online in minutes, with instant certificates
- Up to 5% off when you bundle general liability with another policy
- Phone agents available seven days a week
Cons
- 1.4 out of 5 on Trustpilot across 959 reviews
- Cancellation, billing and limit changes require a phone call
- Not available in Alaska
- Reviewers report steep renewal increases
- Workers' comp and some other lines come through partner carriers
Specialized E&O coverage
Best for broad small business coverage with published average prices: The Hartford
- How you buy
- Online quote
- AM Best rating
- A+ with a stable outlook
- Coverage lines
- BOP
Why we picked it. The Hartford is one of the few carriers that publishes what its small business customers actually pay for a BOP, which gives you a useful benchmark. You can buy online, by phone or through an independent agent, and Hartford Fire Insurance Company holds an A+ rating from AM Best.
More details, pros and cons
Experience: 200+ years; 1.3 million+ small business customers, according to the company
Claims rating: 4.7 stars from 18,000+ customers, as listed on the company's site
Pros
- Stable outlook on its A+ AM Best rating
- Strong workers' comp and BOP lineup
- More than 200 years in business, according to the company
Cons
- Average BOP cost is higher than the lowest online starting prices
- The claims star rating comes from the company's own customer survey
- Some coverage requires a conversation with an agent
Deep industry customization
Skip it if: You only need a cheap general liability policy for a one-person, low-risk business.
More about The Hartford
A historic carrier delivering robust financial stability and a widely praised business owner policy that caters closely to traditional retail and service operations.
How much business insurance costs
Your price depends on your industry, location, payroll, number of employees, revenue, claims history and the limits you choose. Published benchmarks give you a starting point:
- Business owner’s policy (BOP): The Hartford says its small business customers pay about $141 a month, or $1,687 a year, as listed October 2026. Progressive reported a 2025 national median of $80 a month for new BOP customers.
- Professional liability: Progressive reported a 2025 median of $50 a month for new customers.
- General liability: Next advertises prices from $19 a month, as listed October 2026, for low-risk classes.
- Workers’ compensation: priced on payroll and job classification, so it varies more than any other line.
Get at least three quotes with the same limits, deductibles and classifications. A cheaper quote that classifies your business wrong can leave you without coverage at claim time.
How to choose a business insurance company
- List your risks. The SBA recommends starting with what could harm the business: accidents, lawsuits, property loss, or disasters.
- Check what is required. If you have employees, your state almost certainly requires workers’ compensation and unemployment insurance. Leases, client contracts and lenders often require general liability or property coverage at set limits.
- Decide how you want to buy. Direct online carriers (biBerk, Next) are fast for simple risks. Independent agents (Cincinnati, and The Hartford and Progressive through agents) can shop several carriers and package complex risks.
- Confirm the carrier writes your industry and state. Contractors, restaurants and trucking firms often get declined online.
- Check financial strength. Look for an AM Best rating of A minus or better so the insurer can pay large claims.
- Check complaints. Search the carrier in the NAIC Consumer Insurance Search or your state insurance department.
Which coverage you need
| Coverage |
What it pays for |
Who usually needs it |
| General liability |
Third-party bodily injury, property damage, advertising injury |
Almost every business that meets customers or works on their property |
| Business owner’s policy (BOP) |
General liability plus commercial property and business income in one policy |
Small businesses with a location or equipment |
| Professional liability (E&O) |
Claims of mistakes or negligence in your services |
Consultants, accountants, IT and design firms |
| Workers’ compensation |
Employee medical bills and lost wages after work injuries |
Businesses with employees (required in most states) |
| Commercial auto |
Vehicles owned or used for business |
Contractors, delivery, service businesses |
| Cyber |
Data breach response and related liability |
Anyone storing customer or payment data |
How the answer changes by state and industry
Workers’ comp rules, required minimums and even which carriers can sell to you vary by state. Cincinnati notes that not all of its subsidiaries operate in all states, and biBerk asks you to check its coverage map. Industry matters just as much: an online carrier may quote an office-based consultant in minutes and decline a roofer. If you work in construction, trucking, food service or another higher risk field, an independent agent who can shop several carriers is often the better route.
Red flags when buying business insurance
- A quote far below others for the same limits. Check the business classification, exclusions and whether it is claims-made or occurrence coverage.
- A carrier you cannot find with your state insurance department. Only buy from licensed insurers or licensed agents.
- Certificates that do not match your policy. Clients rely on your certificate of insurance, so keep it current.
- Underinsured property. Insure buildings and equipment at replacement cost, not purchase price.
Terms to know
- Business owner's policy (BOP)
- A package policy combining general liability, commercial property and business income coverage.
- General liability
- Coverage for third-party bodily injury, property damage and advertising injury claims.
- Workers' compensation
- Coverage for employee medical costs and lost wages from work-related injuries or illnesses.
- AM Best rating
- An independent grade of an insurer's financial ability to pay claims, from A++ (Superior) downward.
- Certificate of insurance (COI)
- A document that proves your coverage to clients, landlords or lenders.
- Independent agent
- A licensed agent who can quote policies from several insurance companies.
- Claims-made policy
- A policy that covers claims filed while the policy is active, common for professional liability.
