NEXT tops our analysis of Arkansas business insurance providers because of its strong customer service and comprehensive coverage. The Hartford and Simply Business are also reliable options for small business owners across the state.
Business Insurance in Arkansas
NEXT tops our Arkansas business insurance rankings with a MoneyGeek score of 4.64 out of 5.
Find affordable coverage that protects your small business in Arkansas below.
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Updated: August 25, 2025
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Key Takeaways
Small business owners can get the best business insurance in Arkansas from NEXT, The Hartford and Simply Business.
The best business insurance in Arkansas depends on your industry risks, employee count and preferred coverage limits.
To find the best coverage, assess your risks, compare multiple quotes, research provider service quality and maximize available discounts.
Best Business Insurance Companies in Arkansas
| NEXT | 4.64 | 3 | 1 | 2 |
| The Hartford | 4.62 | 1 | 2 | 3 |
| Simply Business | 4.50 | 4 | 5 | 1 |
| Nationwide | 4.48 | 6 | 2 | 4 |
| Coverdash | 4.42 | 5 | 6 | 2 |
| biBerk | 4.39 | 8 | 2 | 5 |
| Progressive Commercial | 4.34 | 3 | 7 | 5 |
| Thimble | 4.33 | 2 | 8 | 5 |
| Hiscox | 4.27 | 7 | 4 | 6 |
| Chubb | 4.26 | 9 | 3 | 4 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best by Coverage Type
NEXT leads Arkansas business coverage options, offering top-rated professional liability insurance and business owner's policies (BOP). The Hartford provides excellent general liability coverage, while both insurers excel in workers' compensation.
| Business Owners Policy | NEXT | 4.63 |
| General Liability | The Hartford | 4.63 |
| Professional Liability (E&O) | NEXT | 4.76 |
| Workers Compensation | NEXT | 4.61 |
| Workers Compensation | The Hartford | 4.61 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best Arkansas Small Business Insurance Reviews
We detailed why these three providers ranked highest in our research on business insurance in Arkansas for small business owners. If you're looking for comprehensive coverage, here's what makes each company stand out.
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.5/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$99This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$66This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5.0Ranked #4 nationallyOur Survey: Likely to Be Recommended to Others
4.8/5.0Ranked #1 nationally
The Hartford
Best for Affordability
MoneyGeek Rating
4.6/ of 5
4.6/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$79This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$68This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
4.5/5Our Survey: Likely to Be Recommended to Others
4.5/5
Simply Business
Best for Coverage Availability
MoneyGeek Rating
4.5/ of 5
4.5/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$92This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$68This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.7/5.0Ranks 8th nationallyOur Survey: Likely to Be Recommended to Others
4.2/5.0Ranks 8th nationally
Cheapest Business Insurance Companies in Arkansas
The Hartford provides the most affordable business insurance in Arkansas at $81 monthly ($970 annually). Thimble and Simply Business follow with competitive rates of $90 and $93 per month. You can compare rates from these budget-friendly providers and others in the table below.
| The Hartford | $81 | $970 |
| Thimble | $90 | $1,077 |
| Simply Business | $93 | $1,111 |
| Progressive Commercial | $95 | $1,137 |
| NEXT | $96 | $1,146 |
| Coverdash | $97 | $1,159 |
| Nationwide | $97 | $1,163 |
| biBerk | $100 | $1,201 |
| Hiscox | $104 | $1,249 |
| Chubb | $113 | $1,354 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest General Liability Insurance Companies in Arkansas
Arkansas businesses can find the cheapest general liability coverage through The Hartford at $78 monthly. Simply Business offers the next best rate at $92 per month. You can compare each provider's general liability insurance rates in the table below.
| The Hartford | $78 | $940 |
| Simply Business | $92 | $1,102 |
| Nationwide | $93 | $1,116 |
| Progressive Commercial | $96 | $1,151 |
| NEXT | $99 | $1,186 |
| Coverdash | $99 | $1,190 |
| Thimble | $103 | $1,235 |
| Hiscox | $109 | $1,314 |
| biBerk | $110 | $1,315 |
| Chubb | $114 | $1,368 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Professional Liability Insurance Companies in Arkansas
The Hartford offers the most affordable professional liability insurance (E&O) in Arkansas at $68 monthly ($820 annually). NEXT provides another budget-friendly option for Arkansas business owners.
| The Hartford | $68 | $820 |
| NEXT | $69 | $828 |
| Progressive Commercial | $72 | $862 |
| Thimble | $73 | $876 |
| Simply Business | $73 | $881 |
| Hiscox | $74 | $887 |
| Coverdash | $75 | $895 |
| biBerk | $77 | $918 |
| Nationwide | $78 | $942 |
| Chubb | $85 | $1,021 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability/errors and omissions policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Workers’ Comp Insurance Companies in Arkansas
NEXT offers the cheapest workers' comp coverage in Arkansas at $66 monthly ($789 annually). Thimble and Progressive Commercial also provide competitive rates, making all three solid choices for affordable business coverage in the state.
| NEXT | $66 | $789 |
| Thimble | $67 | $805 |
| Progressive Commercial | $68 | $812 |
| The Hartford | $68 | $813 |
| Simply Business | $68 | $815 |
| Hiscox | $69 | $826 |
| Coverdash | $70 | $835 |
| biBerk | $72 | $863 |
| Nationwide | $78 | $932 |
| Chubb | $81 | $975 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest BOP Insurance Companies in Arkansas
The Hartford provides the cheapest BOP rates in Arkansas at $109 per month ($1,305 annually). Business owners can also find affordable BOP insurance from Thimble, Simply Business and Nationwide.
| The Hartford | $109 | $1,305 |
| Thimble | $116 | $1,393 |
| Simply Business | $137 | $1,644 |
| Nationwide | $138 | $1,660 |
| biBerk | $142 | $1,707 |
| Coverdash | $143 | $1,717 |
| Progressive Commercial | $143 | $1,722 |
| NEXT | $148 | $1,782 |
| Hiscox | $164 | $1,971 |
| Chubb | $171 | $2,054 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP policies. Survey results reflect limited sample data and may not represent all available rates in your area.
How Much Does Business Insurance Cost in Arkansas?
Business insurance in Arkansas costs between $71 and $141 monthly, with workers' compensation being the most affordable and business owner's policies the most expensive. Rates vary based on the coverage type your business needs.
| BOP | $141 |
| General Liability | $99 |
| Professional Liability (E&O) | $74 |
| Workers Comp | $71 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cost of Business Insurance by Industry and Coverage
Business insurance costs in Arkansas vary significantly by industry and coverage type. Speech therapists pay just $6 monthly for workers' compensation insurance, while pressure washing businesses pay up to $1,287 monthly for a business owner's policy.
Data filtered by:Results filtered by:
Select
Coverage Type:Business Owners Policy
Select
Industry:Accountants
| Accountants | Business Owners Policy | $31 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
What Factors Influence My Costs?
Here are the key factors that affect your Arkansas business insurance premiums. Understanding these elements helps explain why your rates may be higher than expected.
Industry Risk Level
Your business type determines your insurance rates more than any other factor. Construction companies in Arkansas pay much higher premiums than consultants because of workplace accident risks. A small construction firm often pays $500 or more monthly for full coverage, while an accounting firm might pay under $50 for similar protection levels.
Geographic Location and Weather Risks
Your location in Arkansas affects your insurance costs significantly. According to NOAA data, Arkansas ranks fourth nationally for tornado frequency, averaging 33 tornadoes yearly. Businesses in high-risk areas like the Arkansas River Valley pay more than those in regions with fewer severe weather events. Property insurance costs keep rising as storm damage increases across the state.
Business Size
Your employee count and revenue directly impact insurance costs. Workers' compensation rates are calculated per $100 of payroll, while liability coverage costs reflect your revenue and customer traffic. A retail store with 15 employees and $1 million in annual sales pays substantially more than a solo consultant working from home.
Claims History
Your claims record affects rates across all coverage types. Filing even one liability claim can increase your premiums by 20% or more. Arkansas insurers typically look back three to five years at your claims history when setting rates. Maintaining a clean record helps you secure better pricing.
Coverage Types and Limits
Your choice of coverage types and limits directly affects your costs. A business owner's policy (BOP) bundles property and liability coverage at a lower rate than buying separate policies. Increasing your deductible reduces your premium by 15% or more.
Years in Business
New Arkansas businesses pay higher insurance rates because insurers lack data to evaluate their risk level. After three years of operation with no claims, many businesses see their premiums decrease by 10% to 25%. Established companies with good safety records earn the best rates.
Professional Certifications
Safety certifications and professional licenses can reduce your insurance costs. Arkansas contractors with OSHA safety certifications often qualify for premium discounts up to 15%. Professional associations and continuing education credits demonstrate risk management commitment to insurers.
Arkansas Business Insurance Buying Guide
Running a business keeps you busy enough without figuring out insurance coverage. Getting business insurance in Arkansas doesn't have to be complicated. Our guide will walk you through exactly what you need to know.
What Coverage Is Required?
We've thoroughly researched Arkansas business insurance requirements to save you time. Check the section below for a complete breakdown of what coverage your business needs.
Workers' Comp
Required for businesses with three or more employees, including part-time workers and family members. Construction and contracting businesses need coverage with just two employees, and subcontractors need it with any employees. Arkansas offers more flexibility than many states with its three-employee threshold, but penalties are serious. Failing to carry required coverage results in fines up to $10,000 and potential Class D felony charges. You'll also lose legal protections from the Arkansas Workers' Compensation Commission, meaning injured employees can sue you directly. Average cost is $56 per month.
Commercial Auto Insurance
All business vehicles must carry minimum liability coverage of 25/50/25. Arkansas's requirements are standard compared to most states but higher than some neighboring regions. This means $25,000 for per-person bodily injury, $50,000 for per-accident bodily injury, and $25,000 for property damage. Depending on vehicle type, passenger transport vehicles need $50,000 to $100,000 coverage. Personal auto policies exclude business use, so you need separate commercial coverage for work-related driving.
Contractor Bonds
Commercial contractors working on projects over $50,000 must carry $10,000 license bonds. Depending on location and work type, many cities and counties require additional bonds ranging from $1,000 to $50,000. Arkansas doesn't require general liability insurance for contractors (unlike most states), but bonds are mandatory. Cities requiring additional bonds include Little Rock, Fort Smith, North Little Rock, Pine Bluff, and others. Based on your credit score, bond costs range from 1% to 10% annually. Construction contractors also need workers' compensation with just two employees.
Professional Licensing Requirements
Various licensed professionals must carry specific insurance or bonds to maintain their licenses, though requirements are generally less stringent than in highly regulated states. Depending on their licensing requirements, real estate agents, financial advisors, and other service professionals may need errors and omissions insurance. Arkansas doesn't have blanket professional liability requirements like some states, making compliance more straightforward for service businesses. The average professional liability costs $83 per month.
Industry-Specific Requirements
Certain industries face additional insurance mandates beyond general business requirements, particularly in high-risk sectors like construction and transportation.
Underground storage tank contractors need specialized bonds. Transportation companies require higher commercial auto limits. Arkansas maintains a public database where you can verify contractor licenses and bond status. The state generally takes a business-friendly approach while still protecting consumers through targeted requirements.
What Coverage Do We Recommend?
Arkansas keeps business insurance requirements minimal, leaving protection choices up to you. Our analysis shows the best coverage options for the state's leading industries:
Manufacturing | General liability, product liability, workers' compensation, commercial property, equipment coverage, business interruption, environmental liability, tornado and hail coverage | Arkansas manufacturers face tornado damage risks, especially in Tornado Alley regions. Steel, automotive parts, and food processing operations have high worker injury rates and product liability exposure from defective components and contamination. |
Retail | General liability, commercial property, cyber liability, business interruption, cargo coverage, commercial crime, employment practices liability, supply chain coverage | Major retail corporations headquartered in Arkansas face massive cyber attack exposure, supply chain disruptions, and tornado damage to distribution centers. Data breaches affecting millions of customers can result in regulatory fines and class-action lawsuits. |
Trucking | Commercial auto, cargo coverage, general liability, workers' compensation, severe weather coverage, flood coverage, equipment breakdown, non-trucking liability | Arkansas transportation companies navigate tornado-prone regions and flood zones along major rivers. Interstate 40 corridor operations face severe weather delays, cargo damage, and increased accident risks during storm seasons. |
Construction/Contractor | General liability, workers' compensation, commercial auto, equipment coverage, builder's risk, tornado coverage, flood coverage, professional liability, surety bonds | Arkansas construction faces frequent tornado damage, Arkansas River flooding, and severe thunderstorm risks. Spring construction season coincides with peak tornado activity, creating project delay and equipment damage exposure. |
Food | General liability, product liability, commercial property, equipment breakdown, business interruption, contamination coverage, recall coverage, workers' compensation | Arkansas food processors handle poultry, rice, and other agricultural products with contamination risks. Power outages from severe weather can spoil large inventories, while foodborne illness outbreaks can trigger costly product recalls. |
How to Get the Best Cheap Business Insurance in Arkansas
Running a small business in Arkansas means juggling many costs, including insurance expenses. Here are strategies to secure reliable coverage while keeping your business insurance costs manageable:
- 1
Assess Your Actual Risks First
Start by evaluating real business risks rather than accepting blanket recommendations. An Arkansas retail store needs strong property coverage and slip-and-fall protection, while a local consulting firm should focus on professional liability coverage.
- 2
Get Quotes from Multiple Insurers
Insurance providers calculate risk differently, leading to significant price variations for the same coverage. Contact at least three different Arkansas-licensed insurers to compare rates and potentially save thousands annually on your premium costs.
- 3
Choose Providers Based on Service
Investigate each insurer's financial strength ratings and claims processing reputation before making a decision. A local Arkansas restaurant needs an insurer with quick response times for equipment breakdowns, while a construction company requires expertise in liability coverage.
- 4
Maximize Every Discount
Look for opportunities to bundle policies and implement safety programs to reduce costs. An Arkansas retail store can save by combining property and liability coverage, while documenting employee safety training can lead to additional discounts.
- 5
Review Coverage Annually
Business needs change with growth and new services. An Arkansas landscaping company that adds snow removal services needs updated coverage, while a growing retail store may need increased inventory protection.
Arkansas Business Insurance: Bottom Line
Based on our analysis, NEXT, The Hartford and Simply Business are the best business insurance providers in Arkansas. However, what's ideal for you depends on your business risks and employee needs. Research each company's service quality, maximize discounts and select coverage that fits your budget.
Small Business Insurance in Arkansas: FAQ
Finding the right business insurance in Arkansas raises many questions for small business owners. Below, we answer the most frequently asked questions:
What business insurance is required by law in Arkansas?
Arkansas requires workers' compensation insurance for businesses with three or more employees. Commercial auto insurance is mandatory for business vehicles with minimum limits of $25,000/$50,000/$25,000. Professional contractors must carry surety bonds.
How much does business insurance cost in Arkansas?
Insurance costs in Arkansas range from $71 to $141 monthly, depending on coverage. Workers' compensation is the most economical at $71, while BOPs run $141. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Arkansas?
The Hartford offers the lowest rates at $81 monthly in Arkansas, with Thimble ($90) and Simply Business ($93) following behind. Compare multiple quotes as rates depend on business-specific factors.
What business insurance do I need for my small business in Arkansas?
Begin with general liability insurance to protect against customer injuries and property damage. Add workers' compensation for employees and commercial auto for company vehicles. Retailers need property coverage, while contractors require builders' risk and equipment protection.
What is the best business insurance company in Arkansas?
NEXT leads business insurance providers in Arkansas with a MoneyGeek score of 4.64 out of 5. The Hartford and Simply Business round out the top choices.
Consider comparing multiple insurance providers to find coverage that matches your business requirements.
Do small businesses in Arkansas need workers' compensation insurance?
Arkansas law requires workers' compensation for businesses with three or more employees. Coverage protects small business owners from potentially devastating employee injury lawsuits.
What factors affect business insurance costs in Arkansas?
Your industry significantly impacts costs. Construction businesses pay higher premiums than retail stores. Location affects rates, with areas prone to natural disasters costing more. Employee count drives workers' compensation costs, while claim history and safety measures influence rates.
How do I get cheap business insurance in Arkansas?
Assess risks carefully and compare quotes from multiple insurers like NEXT and The Hartford. Bundle policies and implement safety programs to secure better rates and discounts.
What's the difference between general liability and errors and omissions (professional liability) insurance in Arkansas?
General liability insurance covers property damage and physical injuries at your business. Professional liability (E&O) covers financial losses from service mistakes, poor advice or missed deadlines.
Can I get business insurance quotes online in Arkansas?
Yes, all major providers offer online business insurance quotes in Arkansas. Have your business information ready for accurate quotes, though complex businesses may need an agent's expertise for specialized coverage.
How We Scored the Best Business Insurance Companies in Arkansas
Small business owners in Arkansas need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Arkansas entrepreneurs navigate challenges like tornado risks and the state's workers' compensation requirements.
We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We analyze premium costs across multiple coverage types and industry categories, comparing rates for businesses with similar profiles to find insurers offering the best value.
- Customer experience (30% of score): Our team evaluates claims processing, customer support responsiveness and online tools to measure service quality.
- Coverage options (15% of score): To assess flexibility, we review policy customization options, industry-specific endorsements and coverage limits.
- Financial strength (5% of score): We examine insurer stability through independent ratings and financial metrics to ensure reliable claims payment ability.
This approach helps Arkansas small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- National Centers for Environmental Information . "Billion-Dollar Weather and Climate Disasters." Accessed August 25, 2025.
- Trustpilot. "NEXT." Accessed August 25, 2025.
- Trustpilot. "Simply Business US." Accessed August 25, 2025.
- Trustpilot. "The Hartford." Accessed August 25, 2025.