The Hartford is MoneyGeek's pick for the best BOP insurance provider, earning a top overall score of 4.72 based on its competitive rates and strong coverage options. Out of 10 national providers, NEXT Insurance and Nationwide follow closely.
Best Business Owner’s Policy Insurance
Updated: July 18, 2025
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Key Takeaways
The Hartford, NEXT Insurance and Nationwide top MoneyGeek's analysis as the best business owner's policy insurance providers.
Your industry, budget, coverage needs and preferred service style determine the right BOP insurance for your business.
To get the best BOP coverage, figure out what you need, check insurers' financial ratings and compare quotes from multiple providers before purchasing.
Best BOP Insurance Companies
The Hartford | 4.72 | $115 |
NEXT Insurance | 4.50 | $154 |
Nationwide | 4.46 | $146 |
Thimble | 4.42 | $121 |
Simply Business | 4.42 | $143 |
biBERK | 4.38 | $148 |
Coverdash | 4.35 | $150 |
Progressive Commercial | 4.25 | $150 |
Chubb | 4.21 | $178 |
Hiscox | 4.15 | $169 |
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 business owner's policies. Your actual premium depends on where your business is located, what industry you're in, how much coverage you choose, and other factors insurers consider. Available options differ by state.
LEARN MORE ABOUT BUSINESS OWNER'S POLICY INSURANCE
For more comprehensive information about the business owner's policy insurance, explore our guides below:
Best BOP Insurance By State
MoneyGeek's state-by-state analysis shows that The Hartford offers the best business owner's policy insurance in 36 states and NEXT Insurance in 13. See which provider ranks highest in your state below.
| Alabama | Thimble | $5 |
| Alaska | NEXT Insurance | $5 |
| Arizona | The Hartford | $5 |
| Arkansas | NEXT Insurance | $5 |
| California | The Hartford | $5 |
| Colorado | The Hartford | $5 |
| Connecticut | The Hartford | $5 |
| Delaware | NEXT Insurance | $5 |
| Florida | NEXT Insurance | $5 |
| Florida | The Hartford | $5 |
| Georgia | The Hartford | $5 |
| Hawaii | NEXT Insurance | $5 |
| Idaho | NEXT Insurance | $5 |
| Illinois | The Hartford | $5 |
| Indiana | The Hartford | $5 |
| Iowa | The Hartford | $5 |
| Kansas | The Hartford | $5 |
| Kentucky | The Hartford | $5 |
| Louisiana | The Hartford | $5 |
| Maine | NEXT Insurance | $5 |
| Maryland | NEXT Insurance | $5 |
| Massachusetts | The Hartford | $5 |
| Michigan | The Hartford | $5 |
| Minnesota | The Hartford | $5 |
| Mississippi | The Hartford | $5 |
| Missouri | The Hartford | $5 |
| Missouri | NEXT Insurance | $5 |
| Montana | The Hartford | $5 |
| Nebraska | NEXT Insurance | $5 |
| Nevada | The Hartford | $5 |
| New Hampshire | NEXT Insurance | $5 |
| New Jersey | The Hartford | $5 |
| New Mexico | The Hartford | $5 |
| New York | The Hartford | $5 |
| North Carolina | NEXT Insurance | $5 |
| North Dakota | The Hartford | $5 |
| Ohio | NEXT Insurance | $5 |
| Oklahoma | The Hartford | $5 |
| Oregon | The Hartford | $5 |
| Pennsylvania | The Hartford | $5 |
| Rhode Island | The Hartford | $5 |
| South Carolina | The Hartford | $5 |
| South Dakota | NEXT Insurance | $5 |
| Tennessee | NEXT Insurance | $5 |
| Texas | The Hartford | $5 |
| Utah | The Hartford | $5 |
| Vermont | The Hartford | $5 |
| Virginia | The Hartford | $5 |
| Washington | The Hartford | $5 |
| West Virginia | The Hartford | $5 |
| West Virginia | NEXT Insurance | $5 |
| Wisconsin | The Hartford | $5 |
| Wyoming | The Hartford | $5 |
Best Business Owner’s Policy Insurance Reviews
To help you choose the best business owner's policy insurance, we've analyzed our top providers that stand out for different business needs.
The Hartford: Best Overall
pros
Ranked first in MoneyGeek's study
Most affordable rates among major insurers
Top choice in 36 states
Excellent claims process experience
A+ A.M. Best financial stability rating
cons
Weakest digital experience platform
Below-average policy management tools
COMPANY HIGHLIGHTS
The Hartford stands out with the most affordable BOP rates at $115 per month. You can buy business insurance online through their quote tool, making coverage accessible for busy entrepreneurs.
The company has been around since 1810 and maintains an A+ A.M. Best rating, so you can trust they'll pay your claims when needed. That said, if you prefer handling everything online, The Hartford's digital platform might frustrate you since it scored lowest for digital experience in our survey.
NEXT Insurance: Best Customer Experience
pros
Came in 2nd place in our overall rankings
Scored highest for customer experience nationwide
Leads the pack in 13 states for BOP coverage
Top performer for digital tools and policy management
cons
Costs more than most other carriers
COMPANY HIGHLIGHTS
NEXT Insurance costs $154 per month ($1,848 annually), running $7 higher than the industry average of $147, but small business owners get exceptional digital convenience for the extra cost. Founded in 2016 as a digital-first insurer, NEXT operates entirely online across all 50 states, serving over 500,000 customers.
The company ranked first for policy management and digital experience, instantly letting you handle everything from quotes to certificates through their app. Their AI-powered platform makes getting coverage genuinely simple, though you'll pay slightly more for this convenience than traditional insurers.
Nationwide: Best for Restaurant and Retail Businesses
pros
Came in 3rd place in our overall rankings
Has an A rating from A.M. Best
Scored 2nd for policy management
Almost 100 years of insurance experience
cons
Claims process ranks lower than other carriers
Doesn't provide a satisfactory digital experience
COMPANY HIGHLIGHTS
Nationwide offers specialized BOP rates that work particularly well for restaurants ($124 per month) and retail businesses ($45 per month), both below industry averages. These businesses face unique risks, from customer slip-and-falls to inventory theft, making targeted coverage crucial for these industries.
Nationwide started as Farm Bureau Mutual in 1926 and has spent nearly 100 years learning what businesses need. Instead of going all-digital like newer insurers, the company works through local agents in every state. Their online tools lag behind companies like NEXT, but Nationwide knows restaurants and retail inside and out. Brick-and-mortar business owners get reliable coverage at competitive rates, plus someone local to call when problems arise.
Cheapest Business Owner’s Policy Insurance Companies
Our research found that The Hartford offers the most affordable business owner's policy at $115 per month ($1,382 annually), with Thimble and Simply Business keeping monthly rates below $145. The table below shows costs from all companies we analyzed:
| The Hartford | $115 |
| Thimble | $121 |
| Simply Business | $143 |
| Nationwide | $146 |
| biBERK | $148 |
| Coverdash | $150 |
| Progressive Commercial | $150 |
| NEXT Insurance | $154 |
| Hiscox | $169 |
| Chubb | $178 |
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 business owner’s policies. Actual rates vary based on business location, industry risk factors, coverage limits, and other underwriting criteria. Rate availability and regulations vary by state.
Cheapest Business Owner’s Policy Insurance Companies by Industry
Our industry analysis shows biBERK came out ahead, offering the best business owner's policy coverage across 20 sectors. Thimble and NEXT came next with 14 and 11 industries each:
| Accountants | Simply Business | $21.56 |
| Ad Agency | Simply Business | $30.00 |
| Auto Repair | Nationwide | $120.54 |
| Automotive | NEXT Insurance | $39.61 |
| Bakery | The Hartford | $95.25 |
| Barber | NEXT Insurance | $32.35 |
| Beauty Salon | Coverdash | $61.24 |
| Bounce House | biBERK | $75.46 |
| Candle | NEXT Insurance | $52.37 |
| Cannabis | biBERK | $72.59 |
| Catering | Thimble | $38.78 |
| Cleaning | Thimble | $64.48 |
| Coffee Shop | Coverdash | $83.08 |
| Computer Programming | biBERK | $21.86 |
| Computer Repair | NEXT Insurance | $28.38 |
| Construction | Hiscox | $30.87 |
| Consulting | Simply Business | $21.14 |
| Contractor | biBERK | $264.52 |
| Courier | The Hartford | $232.55 |
| DJ | Simply Business | $17.06 |
| Daycare | The Hartford | $35.95 |
| Dental | NEXT Insurance | $18.98 |
| Dog Grooming | Thimble | $56.48 |
| Drone | biBERK | $17.50 |
| Ecommerce | Thimble | $37.92 |
| Electrical | Simply Business | $72.50 |
| Engineering | biBERK | $21.84 |
| Excavation | biBERK | $483.62 |
| Florist | Thimble | $37.81 |
| Food | Coverdash | $48.86 |
| Food Truck | NEXT Insurance | $111.56 |
| Funeral Home | The Hartford | $64.49 |
| Gardening | NEXT Insurance | $32.32 |
| HVAC | Thimble | $166.39 |
| Handyman | biBERK | $225.86 |
| Home-based | The Hartford | $24.77 |
| Hospitality | Nationwide | $29.92 |
| Janitorial | Thimble | $65.43 |
| Jewelry | Simply Business | $25.59 |
| Junk Removal | The Hartford | $176.98 |
| Lawn/Landscaping | Thimble | $76.02 |
| Lawyers | Simply Business | $21.36 |
| Manufacturing | biBERK | $27.81 |
| Marine | biBERK | $31.80 |
| Massage | Nationwide | $71.21 |
| Mortgage Broker | NEXT Insurance | $23.90 |
| Moving | Nationwide | $129.79 |
| Nonprofit | biBERK | $34.26 |
| Painting | Thimble | $67.13 |
| Party Rental | biBERK | $90.80 |
| Personal Training | biBERK | $25.46 |
| Pest Control | The Hartford | $35.44 |
| Pet | Thimble | $56.01 |
| Pharmacy | Coverdash | $63.49 |
| Photography | NEXT Insurance | $20.24 |
| Physical Therapy | Nationwide | $29.80 |
| Plumbing | The Hartford | $389.48 |
| Pressure Washing | Thimble | $664.63 |
| Real Estate | biBERK | $30.28 |
| Restaurant | Nationwide | $124.08 |
| Retail | Nationwide | $44.66 |
| Roofing | Thimble | $320.01 |
| Security | Hiscox | $44.18 |
| Snack Bars | Coverdash | $113.56 |
| Software | The Hartford | $21.21 |
| Spa/Wellness | Simply Business | $29.52 |
| Speech Therapist | Simply Business | $29.66 |
| Startup | Simply Business | $21.18 |
| Tech/IT | biBERK | $21.89 |
| Transportation | biBERK | $43.34 |
| Travel | biBERK | $20.60 |
| Tree Service | Thimble | $75.62 |
| Trucking | biBERK | $110.93 |
| Tutoring | NEXT Insurance | $19.29 |
| Veterinary | biBERK | $32.55 |
| Wedding Planning | NEXT Insurance | $18.22 |
| Welding | biBERK | $184.79 |
| Wholesale | Coverdash | $49.10 |
| Window Cleaning | Thimble | $64.47 |
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 business owner’s policies. Actual rates vary based on business location, industry risk factors, coverage limits, and other underwriting criteria. Rate availability and regulations vary by state.
Cheapest Business Owner’s Policy Insurance Companies by State
The Hartford tops our ranking, offering the cheapest BOP insurance in 40 states. Our study also found Thimble the most affordable option in 10 states.
| Alabama | Thimble | $117 |
| Alaska | Thimble | $110 |
| Arizona | Thimble | $116 |
| Arkansas | The Hartford | $109 |
| California | The Hartford | $126 |
| Colorado | The Hartford | $112 |
| Connecticut | The Hartford | $123 |
| Delaware | Thimble | $129 |
| Florida | The Hartford | $122 |
| Georgia | The Hartford | $114 |
| Hawaii | Thimble | $126 |
| Idaho | The Hartford | $106 |
| Illinois | The Hartford | $123 |
| Indiana | The Hartford | $112 |
| Iowa | The Hartford | $109 |
| Kansas | The Hartford | $110 |
| Kentucky | Thimble | $114 |
| Louisiana | The Hartford | $132 |
| Maine | The Hartford | $99 |
| Maryland | The Hartford | $107 |
| Massachusetts | The Hartford | $118 |
| Michigan | The Hartford | $107 |
| Minnesota | The Hartford | $105 |
| Mississippi | The Hartford | $114 |
| Missouri | Thimble | $120 |
| Montana | The Hartford | $112 |
| Nebraska | The Hartford | $106 |
| Nevada | Thimble | $139 |
| New Hampshire | The Hartford | $113 |
| New Jersey | The Hartford | $127 |
| New Mexico | The Hartford | $114 |
| New York | The Hartford | $135 |
| North Carolina | The Hartford | $99 |
| North Dakota | The Hartford | $99 |
| Ohio | The Hartford | $106 |
| Oklahoma | Thimble | $114 |
| Oregon | The Hartford | $104 |
| Pennsylvania | The Hartford | $131 |
| Rhode Island | The Hartford | $124 |
| South Carolina | The Hartford | $117 |
| South Dakota | The Hartford | $106 |
| Tennessee | The Hartford | $110 |
| Texas | The Hartford | $114 |
| Utah | Thimble | $116 |
| Vermont | The Hartford | $108 |
| Virginia | The Hartford | $102 |
| Washington | The Hartford | $129 |
| West Virginia | The Hartford | $119 |
| Wisconsin | The Hartford | $111 |
| Wyoming | The Hartford | $104 |
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 business owner’s policies. Actual rates vary based on business location, industry risk factors, coverage limits, and other underwriting criteria. Rate availability and regulations vary by state.
How to Choose the Best Business Owner’s Policy Insurance
Most business owners start by comparing prices, but assessing your coverage needs first ensures you get the best business owner's policy insurance. This step-by-step process helps you choose the right coverage.
- 1
Assess your business needs.
A restaurant owner worries about customer injuries and kitchen equipment damage, while a consultant needs protection from professional errors. Standard BOPs cover general liability and property damage, but you’ll need extras like professional liability, cyber coverage or workers' compensation for complete financial protection.
- 2
Set coverage requirements.
A bakery with expensive equipment needs higher property limits than a freelance designer working from home. Use your risk assessment to determine liability limits and property values, then consider adding a buffer for unexpected costs or business growth.
- 3
Get quotes and compare details.
Request quotes from at least three business insurance providers using identical coverage specifications for accurate comparisons. Our research shows rates vary widely, with The Hartford averaging $115 per month while Chubb costs $178 for similar coverage. Don't just compare premiums; examine exclusions, deductibles and coverage limits, since a cheaper policy might exclude critical protections your business needs.
- 4
Check provider quality.
Your cheapest option won't matter if they can't pay claims when disaster strikes. Verify A.M. Best ratings (aim for A- or higher) and read customer reviews about claims processing speed and helpfulness.
- 5
Negotiate and purchase.
Ask about discounts for bundling policies, higher deductibles or industry-specific programs. Many insurers offer savings opportunities, so compare final quotes carefully and don't hesitate to negotiate payment plans or coverage adjustments. When you're ready to purchase, read your policy documents thoroughly and confirm all coverage details before signing.
Getting business insurance isn't a one-time thing. Review your policy annually as your business grows, and reassess coverage needs when you add employees, equipment or expand operations.
Best BOP Insurance: Bottom Line
Finding the best business owner's policy insurance starts with understanding your specific risks and needs. MoneyGeek's analysis shows The Hartford, NEXT Insurance and Nationwide offer the strongest financial protection, but the top pick for you depends on industry, budget and service preferences. Always compare quotes and verify financial stability before deciding.
Best Business Owner’s Policy Insurance: FAQ
Many small business owners have frequently asked questions about business owner’s policy insurance. MoneyGeek answers the most common ones below:
What is a business owner's policy insurance?
Business owner's policy insurance (BOP) bundles commercial property coverage, business interruption and general liability into one affordable policy. BOPs cost less than buying separate policies while protecting against customer injuries, property damage and income loss when disasters force temporary closures.
Which insurance company has the best BOP coverage?
We found that The Hartford ranks as the best BOP insurance provider with a 4.72 overall score. NEXT Insurance excels in customer experience and digital tools, while Nationwide specializes in restaurant and retail coverage.
How much does BOP insurance cost per month?
Based on our analysis of top providers, BOP insurance costs $115 to $178 per month. The Hartford offers the most affordable rates at $115 per month, while Chubb costs $178. Your actual cost depends on industry risk, business size, location and coverage limits. Available discounts and rating factors vary by state due to insurance regulations.
What does a business owner's policy insurance cover?
Standard BOP insurance covers general liability, commercial property and business interruption protection. General liability handles customer injuries. Commercial property protects buildings, equipment and inventory. Business interruption helps replace lost income when covered events force temporary closure, subject to policy terms, conditions, limits and waiting periods. Coverage typically requires direct physical loss to trigger benefits. Consult your policy documents for complete details.
How do I choose the best BOP insurance for my business?
Choosing BOP insurance feels overwhelming, but start by assessing your specific business risks before comparing prices. Request quotes from at least three providers using identical coverage specifications. Check each insurer's A.M. Best rating (aim for A or higher) and read customer reviews.
Can I buy a business owner's policy insurance online?
Yes, you can buy BOP insurance online from most major providers. The Hartford offers online purchasing through their quote tool. NEXT Insurance operates entirely online with instant quotes and digital certificate access.
Do I need workers' compensation with my BOP?
Workers' compensation is not included in standard BOP policies and must be purchased separately. Most states require workers' comp when you have employees. It covers medical bills and lost wages for work-related injuries. You can often bundle it with your BOP for discounts.
What types of business insurance do I need besides BOP?
Your BOP covers the basics, but most businesses need additional types of business insurance for complete protection. Workers' compensation is mandatory when you have employees. Professional liability protects against service errors. Cyber liability shields against data breaches that can devastate your business.
Is BOP insurance good for sole proprietors?
BOP insurance works well for sole proprietors looking for business insurance since it bundles essential coverages at affordable rates. Sole proprietors benefit from general liability protection against customer injuries and property damage claims.
How often should I review my BOP insurance?
Review your BOP insurance annually and whenever significant business changes occur. Reassess coverage when you add employees, purchase expensive equipment or expand operations that increase your liability exposure. Annual reviews help you find new discounts or better rates.
How We Scored the Best Business Owner’s Policy Insurance Companies
Business owners need solid protection from customer injuries, property damage, and income loss, but choosing the wrong business owner's policy puts everything at risk.
Our Research Approach
We gathered thousands of quotes across 79 industries for business owner's policies. We used a two-employee business with $300,000 annual revenue and a $150,000 payroll with limits of $1 million (per occurrence) and $2 million (aggregate), the standard coverage that meets commercial contracts without breaking budgets.
Our evaluation focused on four key factors:
- Affordability (50%): Small business budgets are tight. We compared BOP rates across all tested companies, recognizing that cost often determines which coverage business owners can afford.
- Customer Experience (30%): When customers slip and fall or fires damage your building, you need insurers who respond quickly and pay claims fairly. We used J.D. Power ratings, state insurance department complaint data, and independent agency reviews to measure real-world claims handling.
- Coverage Options (15%): Restaurant owners face different risks than retail shops. We evaluated how well each company tailors BOP coverage for specific industries, from food service liability to inventory protection.
- Financial Strength (5%): Low premiums mean nothing if companies can't pay claims when disasters hit. We checked A.M. Best ratings and financial reports to ensure recommended insurers can deliver on their promises.
This approach reflects what matters most: reliable coverage you can afford from companies that pay claims quickly.
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
- A.M. Best. "A.M. Best Affirms Credit Ratings of Nationwide Mutual Insurance Company and Its Key Operating Subsidiaries.." Accessed July 18, 2025.
- A.M. Best. "A.M. Best Upgrades Issuer Credit Ratings of The Hartford Insurance Group, Inc. and Its Subsidiaries.." Accessed July 18, 2025.
- NEXT Insurance. "NEXT Insurance Celebrates Milestone Achievement in Eclipsing Half-Million Customer Mark.." Accessed July 18, 2025.