Cheapest Business Insurance

With an average overall rate of $85 per month or $1,032 per year, The Hartford is the cheapest small business insurance provider in the U.S. While they are the most affordable company, Thimble, Progressive Commercial, NEXT and Simply Business also have low commercial insurance rates.

*These rates are for small businesses with two employees across 79 major industries or business types and four coverage types: general liability, workers' comp, professional liability and business owner's policy (BOP). Businesses with more employees will pay higher rates.

The cheapest general liability insurance overall is offered by The Hartford who has monthly rates $12 lower than the next most affordable provider. Their average rates sit at around $83 monthly or $1,001 yearly.

At rates of $69 monthly or $829 yearly, NEXT insurance offers the lowest cost workers comp policies in the nation. The Hartford offers the second cheapest rates at $70 per month or $839 per year.

Both the Hartford and Next Insurance are neck and neck in terms of affordability for professional liability policies. However, The Hartford narrowly wins as the cheapest E&O insurance provider with annual rates of $858 per year.

With rates $6 lower per month than the next cheapest provider, the most affordable BOP insurance is offered by The Hartford. Following closely behind with low rates are Thimble and Simply Business.

At the industry level, the cheapest overall provider varies widely. The Hartford still comes out on top overall, ranking as the most affordable for 26 out of the 79 industries or business types we studied. Thimble follows with 12, and NEXT comes close behind with 10.

*These rates are for small businesses with two employees across 79 major industries or business types and four coverage types: general liability, workers' comp, professional liability and BOP.

The Hartford still dominates nationally for affordability, ranking as the most affordable in 48 out of 50 states, while Thimble ranks cheapest for the other two. You can see which company is the lowest-cost provider in your state below:

Based on MoneyGeek's 2025 nationwide analysis, the most affordable business insurance providers are The Hartford, Thimble, and Simply Business. However, the cheapest for your business depends on factors like the number of employees, preferred coverage, industry and other business characteristics.

View the answers to your questions below to better understand where and how you can get cheap business insurance.

MoneyGeek created a scoring system to compare small business insurance companies across cost metrics and ranked them based on affordability. We chose these companies based on their broad national coverage and ability to provide an online quote.

Below is the profile we used to gather our overall rankings:

• Business with two employees (three people)
• $150,000 annual payroll
• $300,000 annual revenue
• Already insured
• $1 million or $2 million aggregate coverage (all policy types)
• $5,000 property damage (BOP only)

All modifications to this profile kept all other factors constant to ensure we gave an appropriate recommendation based on cost factors. We also considered coverage types equally when determining affordability scores in our study (each having a 25% influence on scoring).