We analyzed 10 top providers for the best professional liability insurance and found that NEXT leads with a 4.73 MoneyGeek score at $72 monthly, which is $6 below the $78 industry average. The Hartford is a close second with a score of 4.70. Simply Business is also a strong professional indemnity option with a slightly higher monthly rate.
Best Professional Liability Insurance
NEXT has the best professional liability insurance for small businesses, with an overall MoneyGeek score of 4.73 out of 5.
Get matched to the top professional liability insurance company for your business below.
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Updated: October 27, 2025
Advertising & Editorial Disclosure
Best Professional Liability Insurance For Small Business: Key Takeaways
NEXT, The Hartford and Simply Business offer small businesses the best professional liability insurance with great customer service and low rates.
The best professional liability coverage and provider for you varies due to your industry, state and budget.
You can get the best professional liability policy by shopping with specialized providers, lowering your claims risk and deciding on coverage needs beforehand.
Best Professional Liability Insurance Companies
| NEXT Insurance | 4.73 | $72 |
| The Hartford | 4.70 | $72 |
| Simply Business | 4.51 | $76 |
| Coverdash | 4.44 | $78 |
| Progressive Commercial | 4.44 | $75 |
| biBERK | 4.42 | $79 |
| Nationwide | 4.40 | $82 |
| Hiscox | 4.39 | $77 |
| Thimble | 4.37 | $76 |
| Chubb | 4.20 | $89 |
Disclaimer
The monthly rates above come from our research into professional liability insurers. What you pay depends on your profession, how much coverage you choose, your business location and your claims track record. Our MoneyGeek scores look at pricing, customer service quality, coverage breadth and each company's financial strength.
Get Matched To The Best Professional Liability Insurer For You
Select your industry and state to get a customized professional liability quote from the best insurer for your business.
Industry
State
Best Professional Liability Insurance Companies by State
NEXT has the best professional liability insurance for small businesses across all 50 states in our study. The Hartford ranks second in 48 states, with Simply Business taking second place in Alaska and Hawaii.
| Alabama | NEXT | 4.73 |
| Alaska | NEXT | 4.70 |
| Arizona | NEXT | 4.73 |
| Arkansas | NEXT | 4.76 |
| California | NEXT | 4.73 |
| Colorado | NEXT | 4.71 |
| Connecticut | NEXT | 4.74 |
| Delaware | NEXT | 4.76 |
| Florida | NEXT | 4.73 |
| Georgia | NEXT | 4.71 |
| Hawaii | NEXT | 4.72 |
| Idaho | NEXT | 4.74 |
| Illinois | NEXT | 4.70 |
| Indiana | NEXT | 4.76 |
| Iowa | NEXT | 4.75 |
| Kansas | NEXT | 4.71 |
| Kentucky | NEXT | 4.70 |
| Louisiana | NEXT | 4.74 |
| Maine | NEXT | 4.74 |
| Maryland | NEXT | 4.71 |
| Massachusetts | NEXT | 4.71 |
| Michigan | NEXT | 4.73 |
| Minnesota | NEXT | 4.69 |
| Mississippi | NEXT | 4.73 |
| Missouri | NEXT | 4.74 |
| Montana | NEXT | 4.73 |
| Nebraska | NEXT | 4.72 |
| Nevada | NEXT | 4.74 |
| New Hampshire | NEXT | 4.74 |
| New Jersey | NEXT | 4.70 |
| New Mexico | NEXT | 4.72 |
| New York | NEXT | 4.76 |
| North Carolina | NEXT | 4.74 |
| North Dakota | NEXT | 4.74 |
| Ohio | NEXT | 4.75 |
| Oklahoma | NEXT | 4.70 |
| Oregon | NEXT | 4.75 |
| Pennsylvania | NEXT | 4.73 |
| Rhode Island | NEXT | 4.71 |
| South Carolina | NEXT | 4.72 |
| South Dakota | NEXT | 4.73 |
| Tennessee | NEXT | 4.70 |
| Texas | NEXT | 4.73 |
| Utah | NEXT | 4.76 |
| Vermont | NEXT | 4.71 |
| Virginia | NEXT | 4.70 |
| Washington | NEXT | 4.69 |
| West Virginia | NEXT | 4.72 |
| Wisconsin | NEXT | 4.69 |
| Wyoming | NEXT | 4.72 |
Best Professional Liability Insurance Company Reviews
To help you find the best professional liability insurance for your specific needs, we've reviewed three top providers based on different priorities: overall performance, affordability and industry specialization.
NEXT
Best Professional Liability Insurance Overall
MoneyGeek Rating
4.6/ 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Cost of Professional Liability
$72/monthlyWe analyzed thousands of professional liability quotes from insurers across 79 industriesOur Survey: Claims Process
3.9/5Our Survey: Likely to Recommend to Others
4.8/5
The Hartford
Best Cheap Professional Liability Insurance
MoneyGeek Rating
4.7/ 5
4.8/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Cost of Professional Liability
$72/monthlyWe analyzed thousands of professional liability quotes from insurers across 79 industriesOur Survey: Claims Process
4.5/5Our Survey: Likely to Recommend to Others
4.5/5
Simply Business
Best Professional Liability Coverage Options
MoneyGeek Rating
4.5/ 5
4.6/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Cost of Professional Liability
$76/monthlyWe analyzed thousands of professional liability quotes from insurers across 79 industriesOur Survey: Claims Process
3.7/5Our Survey: Likely to Recommend to Others
4.2/5
How to Get the Best Professional Liability Insurance
Getting the best rates for professional liability insurance requires understanding what drives your premiums and positioning your business as a lower risk.
- 1Understand what affects your premium
Claims history has the biggest impact on E&O insurance rates; one claim can increase premiums for years. Ensure insurers have correct industry classification, since miscategorization costs hundreds annually. Balance coverage limits with affordable deductibles when filing claims. Years in practice and professional certifications often qualify businesses for better professional indemnity insurance rates.
- 2Implement risk reduction strategies
Maintain continuing education and professional certifications, as many insurers offer discounts for ongoing development. Document everything and maintain detailed project files since good records help defend against claims and demonstrate organized practices to insurers. Use clear engagement letters that specify precisely what services businesses will provide for each client to prevent misunderstandings that lead to lawsuits.
- 3Shop smart for coverage
Get quotes from at least three insurers who specialize in your profession. Companies that regularly insure lawyers, consultants or architects understand claims patterns and price accordingly. Avoid the lowest quote if it means sacrificing necessary coverage. Many insurers offer discounts when bundling E&O with other business insurance.
- 4Optimize policy structure and payment
Pay annually to avoid monthly payment fees that accumulate yearly. Consider specialized brokers who know which carriers consistently offer the best rates for specific professions and can navigate policy complexities. With clean claims history, ask about multi-year agreements since some insurers guarantee rates for two to three years, protecting against surprise increases.
Best Professional Liability Insurance for Small Business: Bottom Line
Professional liability protection requires understanding business structure and industry risks, then getting quotes from specialized insurers like NEXT, The Hartford and Simply Business. Industry, location and budget determine which carrier offers the best combination of coverage and value for specific business needs.
Best Professional Liability Insurance: FAQs
We answer common questions about professional liability insurance costs, coverage and requirements:
Who offers the best professional liability insurance for my industry?
The best professional liability insurance for you varies widely by your industry, but in general we found the following patterns for our top companies:
- The Hartford wins for tech based, food, education and professional service (accountants, consultants,ext) and hospitality businesses
- NEXT insurance is best specifically for restaurants
Can independent contractors get professional liability insurance?
Independent contractors need $1 million to $2 million in professional liability coverage that travels between different clients and meets individual contract requirements.
How does professional liability insurance compare to general liability?
General liability and professional liability insurance cover different claim triggers. Professional liability covers mistakes when providing advice or services, while general liability covers physical accidents like office slip-and-fall incidents.
How We Chose the Best Professional Liability Insurance Companies
Finding professional liability insurance that protects your business without breaking your budget means cutting through marketing claims to find real value. We designed our research to show you which companies deliver affordable coverage when professional mistakes trigger expensive lawsuits.
We gathered quotes from major insurers using a consistent business profile: two employees, $300,000 annual revenue, and $150,000 payroll. Every quote included $1 million per claim and $2 million aggregate limits — the standard amounts most client contracts require.
Our scoring reflects what matters most when you're facing a potential claim:
- Affordability (50%) drives most small business insurance decisions. Since you likely need more than professional liability coverage, we compared rates across coverage types.
- Customer Experience (30%) becomes critical when clients threaten lawsuits. Slow claim handling can destroy your business, so we evaluated response times and approval rates using complaint data and industry ratings.
- Coverage Options (15%) and Financial Strength (5%) ensure you get flexible policies from stable companies that can actually pay claims.
This approach shows real comparisons for businesses like yours, focusing on companies that combine reasonable rates with reliable claim handling.
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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
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- Better Business Bureau. "Simply Business | BBB Business Profile." Accessed September 10, 2025.
- Better Business Bureau. "Next Insurance, Inc. | BBB Business Profile." Accessed September 10, 2025.
- Better Business Bureau. "The Hartford Financial Services Group, Inc. | BBB Reviews." Accessed September 10, 2025.
- Trustpilot. "nextinsurance.com Reviews." Accessed September 10, 2025.
- Trustpilot. "The Hartford Reviews." Accessed September 10, 2025.
- Trustpilot. "Simply Business US Reviews." Accessed September 10, 2025.