Best Business Owner’s Policy Insurance

We analyzed 10 national providers to help you find the best business owner's policy (BOP) insurance for your small business. The Hartford tops our rankings with a 4.72 MoneyGeek score and costs just $115 monthly, $32 less than the $147 industry average. NEXT and Nationwide also offer strong financial protection if you need different service styles or coverage options.

Note: These rates are for small businesses with two employees across 79 major industries and focus solely on business owner's policies. Your premium depends on your business location, industry, coverage amount and other factors insurers consider. Rate availability and regulations vary by state.

The Hartford offers the cheapest rates in 40 states, while Thimble leads in 10. That said, location drives your BOP costs. Maine businesses pay just $99 monthly with The Hartford, beating the state average by $29. Nevada costs more. Thimble's cheapest option there runs $139 monthly, but that's still $28 under Nevada's average state rate.

Don't settle for generic coverage that doesn't fit your business. We reviewed our top providers to see which ones deliver where it counts. The Hartford offers the lowest rates, NEXT excels at customer service and Simply Business provides the most comprehensive coverage options. Each offers the best business owner's policy insurance, depending on your priority.

Our research shows The Hartford offers the cheapest BOP insurance at $115 monthly ($1,382 annually). With the average monthly rate for BOP coverage at $147, that's monthly savings of $32. Thimble and Simply Business also keep monthly rates below $145, giving you affordable options for essential business financial protection.

Note: 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.

We found that biBERK offers the cheapest rates across 20 industries, while Thimble leads in 14. That said, rates vary widely by industry risk. 

For example, DJs pay just $17 monthly with Simply Business, saving $12 compared to the $29 industry average. Meanwhile, pressure washing businesses face $665 monthly rates with Thimble, though that's still $681 less than their $1,346 industry average.

Note: 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.

The Hartford offers the cheapest rates in 40 states, while Thimble leads in 10. Your location makes a big difference. For example, if you're based in Maine, rates are as low as $99 monthly with The Hartford, $29 less than the state's $128 average. If you're in Nevada, you'll face higher costs, with Thimble offering the lowest rate at $139, still $28 under the state's $167 average.

Note: 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.

The right BOP coverage depends on your business structure, industry risks and revenue size. We've analyzed coverage requirements across different business types to help you get the right financial protection. Our guide gives personalized recommendations whether you're a sole proprietor or a growing company approaching BOP limits.

Sole proprietors face bigger risks than corporations. If someone sues your business, they can go after your house and personal savings. Corporations and LLCs put a wall between your business and personal money, but you still need insurance to support that financial protection.

Different industries face unique risks that affect your BOP coverage requirements. We've analyzed risk factors to help you choose the right coverage limits for your specific business type.

Your annual revenue affects your BOP eligibility and the coverage limits that make sense for your business. Higher revenue means greater lawsuit exposure and more valuable business operations to protect.

Your BOP covers the basics, but most businesses need additional financial protection for industry-specific risks. Here are other types of coverage you can consider for your business type.

We found that The Hartford, NEXT and Nationwide offer the strongest combination of rates and coverage. However, getting the right BOP coverage means matching your business needs with reliable insurers. You qualify if your revenue stays under $3 million and you have fewer than 100 employees. Compare quotes from different providers and verify their financial ratings before choosing your policy.

Small business owners have frequently asked questions about the best business owner's policy insurance, and we answer the most important ones below:

You can't afford to choose the wrong BOP coverage when customer lawsuits or property damage could jeopardize your business.

Our Research Approach

We collected quotes across 79 industries using a standard small business profile: two employees, $300,000 annual revenue, $150,000 payroll, with $1 million per occurrence and $2 million aggregate limits. This matches what most commercial contracts require without straining your budget.

How we evaluated each company:

• Affordability (50%): Your budget matters most. We compared BOP rates across all companies because cost determines which coverage you can actually buy.
• Customer Experience (30%): When a customer gets injured in your store or fire damages your equipment, you need insurers who handle claims quickly and fairly. We checked J.D. Power ratings, state complaint data and agency reviews to see their performance.
• Coverage Options (15%): Your restaurant faces different risks than a retail shop. We looked at how well each company understands specific industries and tailors coverage accordingly.
• Financial Strength (5%): Cheap premiums don't help if the company can't pay your claim. We verified AM Best ratings and financial reports to make sure these insurers will be there when you need them.

The result: recommendations for reliable coverage you can afford from companies that actually pay claims.