Compare Small Business Insurance Quotes and Companies
Compare small business insurance quotes from the most popular companies. MoneyGeek analyzed thousands of rates and ranks companies using a comprehensive scoring system that weighs affordability, financial stability, and customer satisfaction to help you find the right policy.
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Small Business Insurance Company Comparison
To give you a head start, we've summarized our picks to help you compare small business insurance companies and quotes below:
Business Insurance Company | MoneyGeek Rating (Out of 100) | Average Monthly Cost | AM Best Rating | Customer Review Ratings (Out of 5) |
|---|---|---|---|---|
NEXT | 97 | $145 | A- | 4.7 |
The Hartford | 91 | $197 | A+ | 4.8 |
biBerk | 90 | $334 | A++ | 4.5 |
Pie | 89 | $189 | A- | 3.8 |
Nationwide | 87 | $339 | A | 3.2 |
Thimble | 86 | $287 | A | 4.4 |
How We Scored and Calculated Quotes for Providers
We rated companies based on overall costs for required coverages, customer reviews, AM Best ratings, coverage options and quote speed. Average costs reflect businesses with one to 100 employees across five industries: software development, contracting, cleaning, lawn care and consulting. Compare quotes for your needs to find the best rates.
Compare Small Business Insurance by Coverage Need
Most businesses need multiple insurance policies to protect against different types of risks. The backbone of most business insurance programs consists of general liability, workers' compensation and professional liability insurance when needed.
Each small business insurance type serves a distinct purpose and protects against different scenarios that financially impact your business. The best option for you will depend on your coverage needs and business type. For example, cleaning businesses have specialized insurance needs that differ greatly from consulting or roofing companies.
1. Compare General Liability Insurance Quotes and Ratings
We analyzed thousands of quotes and compared 12 general liability insurance providers to help you compare policy features, cost, coverage and companies. Find the right general liability insurance policy below.
2. Compare Workers' Comp Insurance Quotes and Ratings
Workers' compensation insurance is required by law in most states when you have employees, but the requirements, costs and benefits vary by location and industry. See our analysis below to compare the cheapest policies and best companies.
3. Compare Professional Liability Insurance Quotes and Ratings
Professional liability insurance protects businesses that provide services, advice or expertise against professional negligence claims. Coverage needs vary by profession, so compare policies designed for your industry's risk.
Compare Small Business Insurance Quotes by Policy Type
Small business insurance quotes vary depending on the type of coverage you need. We analyzed thousands of quotes across four major policy types to show you what to expect when shopping for coverage.
Most businesses are required to have some form of general liability insurance, workers' compensation and for some types of firms, a professional liability policy. To help you see if you're getting a good deal when getting quotes, we've broken down costs by state for each of these coverage types.
Policy Type | Lowest Annual Cost | Median Annual Cost | Highest Annual Cost | Cheapest Company |
|---|---|---|---|---|
General liability | $119 | $720 | $16,322 | NEXT |
Business owner's policy | $173 | $989 | $24,606 | The Hartford |
Professional liability | $274 | $860 | $2,682 | The Hartford |
Workers' compensation | $29 | $247 | $6,729 | NEXT |
How We Calculated Business Insurance Costs
We based all cost estimates on businesses between one and 100 employees and five industries (software development, contracting, cleaning, lawn care and business consulting). All state costs presented below also follow this methodology.
Comparison Summary: Who Needs Business Insurance and What Does It Cover?
When you compare small business insurance policies, you'll find different types designed to cover different aspects of your operations. There's no one-size-fits-all policy to shield against all risks, so compare business insurance quotes based on your business type, industry and risk factors.
Insurance Type | What It Covers | Who Needs It | Legal Requirement |
|---|---|---|---|
Bodily injury, property damage, personal injury claims from third parties | All businesses | Not required by law, but often required by contracts/clients | |
Medical expenses, lost wages, rehabilitation costs for work-related injuries/illness | Businesses with employees | Required in most states | |
Claims of negligence, errors, omissions in professional services | Service-based businesses, consultants, healthcare, accounting | Not required with exception of some professional associations | |
Commercial property | Business location, equipment, inventory, supplies | Businesses with physical locations or valuable equipment | Not required |
Commercial auto | Vehicle accidents, theft, damage for business vehicles | Businesses using vehicles for operations | Required if using vehicles for business |
Cyber liability | Data breaches, cyberattacks, notification costs, legal fees | Businesses handling customer data | Not required |
Business interruption | Lost income from unexpected events that disrupt operations | Businesses dependent on location/equipment | Not required |
Commercial umbrella | Additional liability coverage beyond primary policy limits | Businesses with high liability exposure | Not required |
Directors and Officers (D&O) | Claims against company leadership for mismanagement | Corporations, nonprofits with boards | Not required |
Compare Small Business Insurance Quotes by Industry
Your industry classification greatly impacts insurance costs across all policy types. We analyzed quotes from 79 industries to show you what businesses like yours typically pay for coverage.
Low-risk service businesses like consulting and photography pay a fraction of what high-risk trades like plumbing and roofing services pay. Professional liability costs vary based on your industry's risk for errors that impact clients.
Industry | General Liability | Business Owner's Policy | Professional Liability | Workers' Compensation |
|---|---|---|---|---|
Accountants | $149–455 | $212–677 | $1,310–2,378 | $97–164 |
Ad agency | $206–1,364 | $300–917 | $490–2,080 | $75–128 |
Auto repair | $841–3,772 | $1,223–5,198 | $739–1,330 | $711–1,225 |
Automotive | $271–1,545 | $410–2,316 | $678–1,214 | $566–943 |
Bakery | $718–1,739 | $951–2,699 | $484–866 | $252–431 |
Barber | $222–1,348 | $341–1,515 | $393–701 | $68–113 |
Beauty salon | $436–1,607 | $640–2,451 | $448–800 | $70–117 |
Bounce house | $581–1,130 | $764–1,785 | $562–965 | $189–323 |
Candle | $359–1,346 | $544–2,104 | $373–680 | $192–323 |
Cannabis | $556–1,082 | $707–1,697 | $1,117–2,012 | $396–674 |
Catering | $502–2,952 | $397–3,235 | $711–1,303 | $353–593 |
Cleaning | $870–2,771 | $617–4,252 | $488–895 | $230–392 |
Coffee shop | $589–1,825 | $830–2,844 | $541–991 | $222–377 |
Computer programming | $165–1,348 | $219–697 | $932–1,705 | $134–228 |
Computer repair | $390–1,121 | $289–1,725 | $579–1,029 | $114–194 |
Construction | $811–3,938 | $308–6,157 | $419–1,449 | $879–1,456 |
Consulting | $149–473 | $214–704 | $980–1,744 | $147–244 |
Contractor | $2,121–4,226 | $2,776–6,524 | $467–1,347 | $777–1,334 |
Courier | $1,753–3,323 | $2,307–5,190 | $339–1,423 | $1,063–1,822 |
Daycare | $270–532 | $352–828 | $971–1,776 | $64–108 |
Dental | $130–402 | $194–589 | $622–2,172 | $53–90 |
DJ | $119–1,48 | $177–708 | $410–747 | $68–113 |
Dog grooming | $373–1,108 | $539–1,675 | $490–904 | $313–523 |
Drone | $135–287 | $173–458 | $947–1,724 | $128–216 |
Ecommerce | $508–1,359 | $361–2,135 | $547–1,012 | $107–175 |
Electrical | $505–3,627 | $728–5,685 | $421–1,412 | $277–462 |
Engineering | $174–984 | $222–1,031 | $722–1,904 | $181–307 |
Excavation | $3,701–9,312 | $4,782–14,790 | $613–1,107 | $509–862 |
Florist | $318–781 | $367–1,232 | $342–615 | $290–492 |
Food | $350–2,325 | $492–3,525 | $274–2,123 | $202–340 |
Food truck | $763–4,238 | $1,129–6,643 | $539–970 | $220–368 |
Funeral home | $459–1,101 | $664–1,594 | $730–1,326 | $127–216 |
Gardening | $510–2,918 | $335–4,605 | $360–654 | $223–377 |
Handyman | $1,815–5,894 | $2,241–8,953 | $491–883 | $446–755 |
Home–based | $181–644 | $240–1,009 | $333–608 | $48–81 |
Hospitality | $209–1,912 | $295–2,584 | $657–1,210 | $332–560 |
HVAC | $1,118–4,148 | $1,612–6,601 | $747–1,308 | $298–507 |
Janitorial | $435–3,790 | $669–5,959 | $443–818 | $229–392 |
Jewelry | $178–2,248 | $252–740 | $557–1,001 | $142–243 |
Junk removal | $1,332–2,561 | $1,734–4,099 | $600–1,083 | $665–1,132 |
Lawn/Landscaping | $510–2,889 | $749–4,581 | $478–842 | $180–303 |
Lawyers | $149–473 | $214–701 | $1,334–2,344 | $253–424 |
Manufacturing | $209–5,678 | $283–708 | $563–969 | $280–474 |
Marine | $247–488 | $319–766 | $790–1,419 | $714–1,213 |
Massage | $495–2,418 | $700–3,379 | $962–1,732 | $69–117 |
Mortgage broker | $163–425 | $243–621 | $1,497–2,682 | $67–112 |
Moving | $899–2,271 | $1,294–3,387 | $741–1,321 | $1,253–2,102 |
Nonprofit | $273–599 | $331–938 | $463–825 | $151–256 |
Painting | $449–2,655 | $680–4,081 | $580–1,032 | $659–1,128 |
Party rental | $694–1,346 | $890–2,067 | $493–882 | $177–296 |
Personal training | $196–493 | $251–809 | $639–1,156 | $119–202 |
Pest control | $265–521 | $348–829 | $856–1,544 | $329–566 |
Pet | $373–1,065 | $550–1,631 | $412–753 | $146–248 |
Pharmacy | $446–1,378 | $635–1,876 | $485–1,348 | $30–51 |
Photography | $139–672 | $211–745 | $569–1,049 | $81–137 |
Physical therapy | $209–11,744 | $294–705 | $853–1,546 | $33–55 |
Plumbing | $2,801–7,132 | $3,932–10,634 | $820–1,454 | $308–517 |
Pressure washing | $4,447–16,322 | $6,793–24,606 | $527–942 | $404–674 |
Real estate | $232–1,700 | $305–2,565 | $1,116–2,045 | $144–241 |
Restaurant | $865–2,895 | $1,259–3,933 | $734–1,312 | $300–509 |
Retail | $312–1,359 | $452–2,147 | $492–885 | $164–282 |
Roofing | $2,150–8,297 | $3,211–11,567 | $875–1,599 | $3,974–6,729 |
Security | $306–3,591 | $441–5,690 | $899–1,608 | $244–420 |
Snack bars | $811–2,362 | $1,157–3,697 | $423–774 | $204–350 |
Software | $149–1,148 | $211–701 | $868–1,536 | $125–213 |
Spa/Wellness | $206–2,418 | $300–3,568 | $980–1,801 | $83–140 |
Speech therapist | $206–700 | $291–1,097 | $893–1,605 | $29–49 |
Startup | $149–718 | $211–1,109 | $660–1,177 | $61–105 |
Tech/IT | $163–984 | $225–699 | $904–1,604 | $130–220 |
Transportation | $330–648 | $422–1,022 | $844–1,565 | $1,091–1,849 |
Travel | $163–473 | $202–706 | $917–1,582 | $33–57 |
Tree service | $510–3,593 | $725–5,701 | $673–1,234 | $1,062–1,780 |
Trucking | $849–1,811 | $1,107–2,859 | $1,004–1,793 | $1,267–2,172 |
Tutoring | $133–1,348 | $204–771 | $544–985 | $47–81 |
Veterinary | $258–824 | $317–1,258 | $1,038–1,900 | $95–158 |
Wedding planning | $124–1,184 | $193–737 | $686–1,263 | $133–229 |
Welding | $1,412–2,677 | $1,869–4,264 | $692–1,260 | $549–943 |
Wholesale | $350–722 | $503–1,126 | $548–1,009 | $194–323 |
Window cleaning | $435–4,030 | $633–6,337 | $565–1,012 | $1,004–1,683 |
Best Business Insurance by Industry
Different industries face unique risks that need tailored insurance solutions. A tech startup's biggest concern might be cyber liability, while a restaurant worries more about general liability and workers' compensation claims.
We analyzed coverage needs and compared top providers across key industries to help you find the best insurance match for your specific business type. Each recommendation considers the most common risks your industry faces and which providers offer the best combination of coverage options and value for businesses like yours.
Compare Small Business Insurance Cost by State
When you compare business insurance costs, you'll find major variations by location due to state-specific requirements, property values, accident rates and local wage levels. To help you compare what coverage might cost in your area, we've broken down pricing for commonly required insurance types across all states, making it easier to compare options and understand regional differences.
State | Monthly General Liability Cost | Monthly Workers Comp Cost | Monthly Professional Liability Cost |
|---|---|---|---|
Alabama | $49 | $284 | $337 |
Alaska | $38 | $443 | $514 |
Arizona | $42 | $233 | $342 |
Arkansas | $46 | $210 | $381 |
California | $113 | $320 | $395 |
Colorado | $38 | $211 | $354 |
Connecticut | $58 | $340 | $351 |
Delaware | $41 | $282 | $354 |
Florida | $47 | $320 | $406 |
Georgia | $46 | $247 | $396 |
Hawaii | $50 | $837 | $408 |
Idaho | $43 | $375 | $384 |
Illinois | $52 | $298 | $390 |
Indiana | $40 | $217 | $387 |
Iowa | $39 | $371 | $385 |
Kansas | $40 | $222 | $386 |
Kentucky | $36 | $264 | $394 |
Louisiana | $78 | $408 | $406 |
Maine | $41 | $401 | $384 |
Maryland | $38 | $295 | $394 |
Massachusetts | $53 | $236 | $395 |
Michigan | $37 | $184 | $383 |
Minnesota | $41 | $249 | $386 |
Mississippi | $44 | $326 | $416 |
Missouri | $42 | $292 | $391 |
Montana | $56 | $522 | $412 |
Nebraska | $37 | $289 | $380 |
Nevada | $50 | $483 | $472 |
New Hampshire | $50 | $262 | $389 |
New Jersey | $59 | $467 | $413 |
New Mexico | $40 | $367 | $389 |
New York | $109 | $380 | $442 |
North Carolina | $34 | $216 | $371 |
North Dakota | $43 | $251 | $396 |
Ohio | $39 | $230 | $394 |
Oklahoma | $37 | $347 | $359 |
Oregon | $40 | $266 | $388 |
Pennsylvania | $85 | $311 | $446 |
Rhode Island | $50 | $313 | $386 |
South Carolina | $41 | $304 | $381 |
South Dakota | $41 | $373 | $384 |
Tennessee | $37 | $210 | $392 |
Texas | $41 | $159 | $396 |
Utah | $39 | $199 | $390 |
Vermont | $46 | $361 | $472 |
Virginia | $34 | $186 | $387 |
Washington | $55 | $321 | $509 |
West Virginia | $47 | $241 | $400 |
Wisconsin | $41 | $422 | $387 |
Wyoming | $42 | $248 | $365 |
Compare Small Business Insurance Customer Reviews
MoneyGeek summarized over 1,100 customer reviews to help you compare how customers rate each small business insurance provider. NEXT and The Hartford scored highest in our customer comparison survey results.
Company | Customer Service | Claims Process | Affordability | Digital Experience | Recommend to Others | Total Score (1-5) |
|---|---|---|---|---|---|---|
NEXT Insurance | 4.2 | 3.9 | 4.6 | 4.8 | 4.8 | 4.45 |
The Hartford | 4.7 | 4.5 | 4.4 | 3.8 | 4.5 | 4.38 |
biBERK | 4.1 | 4 | 4.1 | 4.2 | 4.3 | 4.19 |
Nationwide | 4.3 | 3.9 | 4.1 | 4 | 4.3 | 4.16 |
Chubb | 4.4 | 4.2 | 4 | 3.9 | 4.3 | 4.2 |
Simply Business | 4 | 3.7 | 4.4 | 4.5 | 4.2 | 4.14 |
Progressive Commercial | 4 | 3.6 | 4.3 | 4.1 | 4.2 | 4.05 |
Thimble | 3.9 | 3.7 | 4.4 | 4.7 | 4.3 | 4.21 |
Hiscox | 3.9 | 3.8 | 4.2 | 4.1 | 4.1 | 4.01 |
Coverdash | 3.8 | 3.5 | 4.4 | 4.5 | 4.1 | 4.03 |
How to Compare Business Insurance Policies
Business insurance is much more complex than other personal policies and it can be confusing to know what you need as a small business and whether you're getting a good deal. Here's an easy four-step business insurance buying guide to help you find the best and cheapest coverage for your situation.
- 1
Research and determine coverage needs
Before making any comparisons, it's good to know what types of business insurance are available to you and which are required. This will help you avoid overpaying for a policy or being convinced into excessive coverage by an agent.
Here are the most commonly required coverages for businesses:
- General liability insurance: Protects your business from liabilities for physical damages to property and people due to business operations or incidents on commercial property.
- Workers' compensation: Applies only to employees and reimburses those working for you for any damages due to injury or illness on the job. Getting workers' compensation insurance involves understanding your state's requirements and finding the right provider for your business size and industry. Some business owners may qualify for workers' comp exemptions, though this depends on your state's regulations and business structure.
- Professional liability insurance: Different from general liability, it covers you for non-physical errors or negligence caused by the services you provide.
- Commercial auto insurance: If you use vehicles for business, this covers you and your vehicle in case of an accident while on the job.
However, there are also other options to consider to protect commercial property, income, data, products and operations if a major event occurs. Review options with a business insurance agent to determine your needs.
- 2
Find out average costs for your business
To see how much you're saving with any provider, researching costs particular to your business and the coverage you want gives a reasonable frame of reference. You'll also want to look into discounts to lower costs further.
- 3
Compare providers before getting quotes
Before getting quotes, research top companies' affordability and customer service reputations online. Use online guides, consumer forums and industry research organizations like AM Best and J.D. Power to understand what constitutes good service.
Consider asking other similar businesses in your area about reputable and affordable providers to get a more personal perspective. You'll also want to research how efficiently companies handle commercial insurance claims since the claims experience is as important as the initial policy purchase.
- 4
Compare multiple quotes through different channels
Once you have all the information from the previous steps, start getting multiple quotes. When requesting quotes, be specific about your coverage needs and ask providers to clarify the differences between employers' liability and workers' compensation to ensure you're comparing equivalent coverage levels across quotes.
While it's easy to do so online, we recommend also finding pricing through brokers and captive agents since rates will vary between each method. Be sure when choosing coverage that you're making apples-to-apples comparisons to see how providers stack up.
About Nathan Paulus
Nathan Paulus is the Head of Content Marketing at MoneyGeek, with nearly 10 years of experience researching and creating content related to personal finance and financial literacy.
Paulus has a bachelor's degree in English from the University of St. Thomas, Houston. He enjoys helping people from all walks of life build stronger financial foundations.