Cheapest Small Business Insurance Companies

The Hartford tops our list as the cheapest small business insurance provider with an average overall rate of $85/mo or $1,024/yr. The company has the lowest monthly rates for general liability, professional liability, commercial property and business owner's policies (BOP). NEXT comes in behind as the most affordable small business insurer for workers comp and commercial auto insurance (through Progressive). We also recommend looking into Thimble, Simply Business and Progressive Commercial for competitive commercial insurance rates as well.

We've summarized the cheapest business insurers for small companies and their average prices by coverage type below:

Cheapest General Liability Insurance: The Hartford ($83/mo)
Cheapest Workers Comp Insurance: NEXT ($69/mo)
Cheapest Professional Liability Insurance: The Hartford ($72/mo)
Cheapest BOP Insurance: The Hartford ($115/mo)
Cheapest Commercial Property Insurance: The Hartford ($65/mo)
Cheapest Commercial Auto Insurance: NEXT ($137/mo)


The Hartford	$85	$1,024
Thimble	$94	$1,130
Simply Business	$97	$1,162
Progressive Commercial	$100	$1,198
NEXT Insurance	$100	$1,199
Coverdash	$102	$1,220
Nationwide	$102	$1,224
biBERK	$105	$1,258
Hiscox	$109	$1,305
Chubb	$118	$1,418

How We Decided The Cheapest Small Business Insurance Providers

*The cheapest small business insurance rates shown here and throughout the article are based on our methodology's base profile of a small businesses with two employees, $300,000 of annual revenues, and $150,000 in payroll. Pricing is averaged across all 50 states, 79 major industries/business types and the most commonly needed coverages: general liability, workers' comp, commercial auto, commercial property, professional liability and business owner's policy (BOP). Businesses with more employees will pay higher rates.

Get Matched To The Best Cheap Small Business Insurer For You

Select your industry and state to get a customized best and cheapest small business insurance match and get tailored quotes.

Industry

State

Cheapest Small Business Insurance by Industry

The Hartford is cheapest insurance company for small businesses at the industry level, ranking as the lowest cost provider for 26 out of the 79 industries or business types we studied. Thimble follows as the 2nd most affordable in 12 industries, and NEXT comes close behind at 3rd with 10.

Find out which insurer offers the best small business insurance rates for your industry below by filtering the table.

Data filtered by:


Accountants	The Hartford	$48
Ad Agency	Nationwide	$29
Auto Repair	Nationwide	$113
Automotive	Coverdash	$116
Bakery	NEXT Insurance	$103
Barber	NEXT Insurance	$27
Beauty Salon	Coverdash	$42
Bounce House	The Hartford	$57
Candle	NEXT Insurance	$41
Cannabis	Nationwide	$104
Catering	Thimble	$101
Cleaning	Nationwide	$106
Coffee Shop	NEXT Insurance	$108
Computer Programming	The Hartford	$40
Computer Repair	NEXT Insurance	$37
Construction	Hiscox	$106
Consulting	The Hartford	$41
Contractor	biBERK	$173
Courier	NEXT Insurance	$174
Daycare	The Hartford	$43
Dental	Thimble	$33
DJ	NEXT Insurance	$21
Dog Grooming	Thimble	$52
Drone	The Hartford	$38
Ecommerce	Thimble	$43
Electrical	Progressive Commercial	$108
Engineering	biBERK	$42
Excavation	biBERK	$261
Florist	Simply Business	$43
Food	Progressive Commercial	$109
Food Truck	biBERK	$115
Funeral Home	The Hartford	$53
Gardening	Chubb	$108
Handyman	biBERK	$139
Home-based	The Hartford	$22
Hospitality	biBERK	$118
HVAC	Thimble	$105
Janitorial	Coverdash	$108
Jewelry	Simply Business	$33
Junk Removal	The Hartford	$125
Lawn/Landscaping	Chubb	$103
Lawyers	The Hartford	$56
Manufacturing	Thimble	$145
Marine	The Hartford	$68
Massage	Chubb	$110
Mortgage Broker	The Hartford	$52
Moving	The Hartford	$136
Nonprofit	The Hartford	$36
Painting	The Hartford	$115
Party Rental	The Hartford	$62
Personal Training	The Hartford	$33
Pest Control	The Hartford	$53
Pet	Thimble	$42
Pharmacy	Coverdash	$41
Photography	NEXT Insurance	$27
Physical Therapy	Thimble	$255
Plumbing	The Hartford	$206
Pressure Washing	Thimble	$312
Real Estate	Nationwide	$119
Restaurant	The Hartford	$102
Retail	Nationwide	$43
Roofing	Thimble	$348
Security	The Hartford	$103
Snack Bars	Thimble	$102
Software	The Hartford	$37
Spa/Wellness	Hiscox	$107
Speech Therapist	Simply Business	$39
Startup	Simply Business	$30
Tech/IT	The Hartford	$39
Transportation	Simply Business	$101
Travel	The Hartford	$33
Tree Service	Thimble	$100
Trucking	The Hartford	$135
Tutoring	NEXT Insurance	$25
Veterinary	biBERK	$50
Wedding Planning	NEXT Insurance	$32
Welding	The Hartford	$127
Wholesale	Coverdash	$46
Window Cleaning	The Hartford	$140

Cheapest Small Business Insurance by State

The Hartford is cheapest small business insurer nationally across almost all states, ranking as the most affordable in 48 out of 50 states, while Thimble ranks lowest cost business insurer for the other two. You can see which company is the most cost-effective provider in your state below by filtering for your state in the table.

Data filtered by:


Alabama	The Hartford	$87
Alaska	Thimble	$86
Arizona	The Hartford	$84
Arkansas	The Hartford	$81
California	The Hartford	$94
Colorado	The Hartford	$83
Connecticut	The Hartford	$92
Delaware	The Hartford	$96
Florida	The Hartford	$91
Georgia	The Hartford	$85
Hawaii	Thimble	$98
Idaho	The Hartford	$80
Illinois	The Hartford	$92
Indiana	The Hartford	$82
Iowa	The Hartford	$80
Kansas	The Hartford	$82
Kentucky	The Hartford	$83
Louisiana	The Hartford	$98
Maine	The Hartford	$74
Maryland	The Hartford	$80
Massachusetts	The Hartford	$88
Michigan	The Hartford	$79
Minnesota	The Hartford	$78
Mississippi	The Hartford	$84
Missouri	The Hartford	$88
Montana	The Hartford	$83
Nebraska	The Hartford	$79
Nevada	The Hartford	$102
New Hampshire	The Hartford	$83
New Jersey	The Hartford	$95
New Mexico	The Hartford	$85
New York	The Hartford	$99
North Carolina	The Hartford	$73
North Dakota	The Hartford	$78
Ohio	The Hartford	$82
Oklahoma	The Hartford	$83
Oregon	The Hartford	$78
Pennsylvania	The Hartford	$97
Rhode Island	The Hartford	$92
South Carolina	The Hartford	$86
South Dakota	The Hartford	$78
Tennessee	The Hartford	$82
Texas	The Hartford	$85
Utah	The Hartford	$85
Vermont	The Hartford	$80
Virginia	The Hartford	$76
Washington	The Hartford	$101
West Virginia	The Hartford	$88
Wisconsin	The Hartford	$83
Wyoming	The Hartford	$82

How to Get Cheap Small Business Insurance

Here are some tips you should take into account to get the cheapest insurance for your small business:

1
Shop around and compare business insurance quotes
Get quotes from multiple insurers, including independent agents who work with several companies. Rates can vary widely between providers for the same coverage and comparing them apples to apples ensures you get the cheapest small business insurance possible.
2
Bundle your small business insurance policies
Bundling multiple types of business insurance coverage from the same company is one the easiest ways to get cheap rates. For example, our top pick, The Hartford, offers special discounts of up to 10% for bundling multiple policy types.
3
Ensure your small business is classified correctly
Making sure your business is classified correctly can possibly help you save on small business insurance. Sometimes, adjusting how your business activities are described can result in lower rates if you qualify for a less risky category.
4
Pay small business premiums annually instead of monthly
If you can afford it, paying your premium annually often saves money on processing fees, getting you cheaper small business insurance rates. While many companies don't specify their exact discount for annual payment, we see an average 5% discount based on our quote research.
5
Increase your business insurance deductibles
Increasing deductibles on small business insurance coverage can lower premiums significantly by up to 18% based on our research. However, these savings come with higher financial risk during a claim for your company, so ensure you can afford it before moving forward.
6
Minimize business insurance risks
A risk management plans, safety procedures, and reporting your efforts to reduce claims to insurers can reduce small business insurance rates. Especially in a long-term relationship with an insurer, keeping up communication of your commitments to lowering risk over time makes it easier to get lower premiums through renewal negotiations.
7
Review your business insurance policies annually
Regularly reviewing your coverage ensures you're not overinsured or underinsured, helping you save money on small business insurance premiums and during the event of a claim.

Cheapest Small Business Insurance: Bottom Line

Based on MoneyGeek's 2025 nationwide analysis, the most affordable business insurance providers are The Hartford, Thimble, Simply Business, NEXT and Progressive. The cheapest for your business depends on factors like the number of employees, preferred coverage, industry and other business characteristics. To ensure you get the best cheap business insurance for you, compare plenty of quotes and companies, bundle policies, and ensure you're only getting coverage you need.

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.

Read Full Bio »

sources

The Hartford. "Business Insurance." Accessed June 25, 2025.

Cheapest Small Business Insurance Rates