MoneyGeek found The Hartford offers the cheapest professional indemnity insurance at $72 monthly ($858 annually) among the providers we analyzed.
Discover low-cost professional indemnity insurance below.
Updated: August 19, 2025
Advertising & Editorial Disclosure
The Hartford, NEXT and Progressive Commercial offer the cheapest professional indemnity insurance rates nationwide.
Your industry, business size and claims history directly impact your professional indemnity insurance premiums.
Compare quotes, choose higher deductibles, bundle policies and pay annually to reduce costs immediately.
We analyzed 10 major professional indemnity insurance providers and found that The Hartford offers the cheapest coverage at $72 monthly ($858 annually). NEXT, Progressive Commercial and Thimble follow with monthly rates below $77.
Our research shows the monthly costs for professional indemnity insurance across different insurers:
How Did We Determine These Rates?
MoneyGeek analyzed rates from 10 insurance providers for small businesses with two employees across 79 major industries, focusing solely on professional indemnity policies.
The Hartford offers the cheapest professional indemnity insurance across 71 industries. Coverdash provides the lowest rates for construction and engineering, while Chubb is a low-cost option for pharmacies and courier services.
| Accountants | The Hartford | $130 |
| Ad Agency | Nationwide | $47 |
| Auto Repair | The Hartford | $74 |
| Automotive | The Hartford | $67 |
| Bakery | The Hartford | $47 |
| Barber | The Hartford | $38 |
| Beauty Salon | The Hartford | $44 |
| Bounce House | The Hartford | $53 |
| Candle | The Hartford | $37 |
| Cannabis | The Hartford | $110 |
| Catering | The Hartford | $71 |
| Cleaning | The Hartford | $49 |
| Coffee Shop | The Hartford | $55 |
| Computer Programming | The Hartford | $94 |
| Computer Repair | The Hartford | $56 |
| Construction | Coverdash | $41 |
| Consulting | The Hartford | $96 |
| Contractor | The Hartford | $45 |
| Courier | Chubb | $34 |
| DJ | The Hartford | $41 |
| Daycare | The Hartford | $96 |
| Dental | Thimble | $62 |
| Dog Grooming | The Hartford | $49 |
| Drone | The Hartford | $95 |
| Ecommerce | The Hartford | $55 |
| Electrical | Simply Business | $42 |
| Engineering | Coverdash | $72 |
| Excavation | The Hartford | $61 |
| Florist | The Hartford | $34 |
| Food | NEXT Insurance | $26 |
| Food Truck | The Hartford | $52 |
| Funeral Home | The Hartford | $73 |
| Gardening | The Hartford | $36 |
| HVAC | The Hartford | $73 |
| Handyman | The Hartford | $48 |
| Home-based business | The Hartford | $33 |
| Hospitality | The Hartford | $65 |
| Janitorial | The Hartford | $44 |
| Jewelry | The Hartford | $55 |
| Junk Removal | The Hartford | $60 |
| Lawn/Landscaping | The Hartford | $46 |
| Lawyers | The Hartford | $130 |
| Manufacturing | The Hartford | $53 |
| Marine | The Hartford | $78 |
| Massage | The Hartford | $94 |
| Mortgage Broker | The Hartford | $149 |
| Moving | The Hartford | $73 |
| Nonprofit | The Hartford | $45 |
| Painting | The Hartford | $57 |
| Party Rental | The Hartford | $49 |
| Personal Training | The Hartford | $63 |
| Pest Control | The Hartford | $85 |
| Pet | The Hartford | $41 |
| Pharmacy | Chubb | $46 |
| Photography | The Hartford | $57 |
| Physical Therapy | The Hartford | $84 |
| Plumbing | The Hartford | $80 |
| Pressure Washing | The Hartford | $51 |
| Real Estate | The Hartford | $113 |
| Restaurant | The Hartford | $73 |
| Retail | The Hartford | $49 |
| Roofing | The Hartford | $87 |
| Security | The Hartford | $89 |
| Snack Bars | The Hartford | $43 |
| Software | The Hartford | $85 |
| Spa/Wellness | The Hartford | $98 |
| Speech Therapist | The Hartford | $88 |
| Startup | The Hartford | $64 |
| Tech/IT | The Hartford | $88 |
| Transportation | The Hartford | $85 |
| Travel | The Hartford | $87 |
| Tree Service | The Hartford | $68 |
| Trucking | The Hartford | $99 |
| Tutoring | The Hartford | $54 |
| Veterinary | The Hartford | $103 |
| Wedding Planning | The Hartford | $68 |
| Welding | The Hartford | $68 |
| Wholesale | The Hartford | $55 |
| Window Cleaning | The Hartford | $56 |
How Did We Determine These Rates?
MoneyGeek analyzed rates from 10 insurance providers for small businesses with two employees across 79 major industries, focusing solely on professional indemnity policies.
We found that The Hartford offers the cheapest professional indemnity insurance in 39 states, while NEXT provides the lowest rates across 11 states.
| Alabama | The Hartford | $70 |
| Alaska | NEXT Insurance | $67 |
| Arizona | NEXT Insurance | $66 |
| Arkansas | The Hartford | $68 |
| California | The Hartford | $80 |
| Colorado | NEXT Insurance | $70 |
| Connecticut | The Hartford | $78 |
| Delaware | NEXT Insurance | $75 |
| Florida | The Hartford | $78 |
| Georgia | The Hartford | $73 |
| Hawaii | NEXT Insurance | $77 |
| Idaho | NEXT Insurance | $67 |
| Illinois | The Hartford | $78 |
| Indiana | The Hartford | $69 |
| Iowa | The Hartford | $68 |
| Kansas | The Hartford | $69 |
| Kentucky | The Hartford | $66 |
| Louisiana | The Hartford | $83 |
| Maine | NEXT Insurance | $63 |
| Maryland | The Hartford | $68 |
| Massachusetts | The Hartford | $75 |
| Michigan | The Hartford | $67 |
| Minnesota | The Hartford | $67 |
| Mississippi | The Hartford | $71 |
| Missouri | The Hartford | $71 |
| Montana | The Hartford | $70 |
| Nebraska | The Hartford | $68 |
| Nevada | NEXT Insurance | $80 |
| New Hampshire | The Hartford | $71 |
| New Jersey | The Hartford | $81 |
| New Mexico | The Hartford | $72 |
| New York | NEXT Insurance | $82 |
| North Carolina | The Hartford | $62 |
| North Dakota | NEXT Insurance | $63 |
| Ohio | The Hartford | $66 |
| Oklahoma | The Hartford | $67 |
| Oregon | The Hartford | $66 |
| Pennsylvania | The Hartford | $83 |
| Rhode Island | The Hartford | $78 |
| South Carolina | The Hartford | $73 |
| South Dakota | The Hartford | $67 |
| Tennessee | The Hartford | $69 |
| Texas | The Hartford | $72 |
| Utah | NEXT Insurance | $67 |
| Vermont | The Hartford | $69 |
| Virginia | The Hartford | $65 |
| Washington | The Hartford | $81 |
| West Virginia | The Hartford | $76 |
| Wisconsin | The Hartford | $70 |
| Wyoming | The Hartford | $66 |
How Did We Determine These Rates?
MoneyGeek analyzed rates from 10 insurance providers for small businesses with two employees across 79 major industries, focusing solely on professional indemnity policies.
Professional indemnity insurance costs change between providers and coverage options. Reduce your coverage costs by shopping smart and having safe business practices:
Rates vary between carriers for identical coverage. A web developer might pay $75 monthly with one insurer but find the same protection for $45 elsewhere.
Increasing your deductible can substantially reduce monthly costs. Make sure you have enough saved to cover the deductible amount if you file a claim.
Adding professional indemnity to your existing general liability or business owner's policy (BOP) often triggers multi-policy discounts.
Most insurers charge processing fees for monthly payments. Paying your full premium upfront typically saves money compared to monthly installments.
Don't automatically choose the highest limits available. A freelance consultant might need $1 million coverage, while a small firm requires $2 million. Match your limits to your actual risk exposure.
Some carriers specialize in certain professions and offer competitive rates for those sectors. A technology company might find better rates with a tech-focused insurer than a general carrier.
Insurers reward businesses with no recent claims by offering preferred rates. Even one claim in recent years can increase your premium substantially.
Document your processes, use contracts for all projects and maintain professional certifications. Insurers view these as risk-reduction measures that can qualify you for safety discounts.
Your industry and claims history influence rates, but you can find cheap professional indemnity insurance by focusing on the right providers and strategies. The Hartford, NEXT and Progressive Commercial lead our analysis, and comparing quotes with higher deductibles delivers the biggest savings.
Small business owners looking for cheap professional indemnity insurance want clarification about costs, coverage options and savings strategies. We've answered the most frequently asked questions about these:
Professional indemnity insurance covers errors and mistakes in your professional services, but it won't cover intentional wrongdoing, criminal acts or general business issues like slip-and-fall accidents. That's what general liability insurance handles instead.
The Hartford offers the cheapest professional indemnity insurance at $72 monthly ($858 annually) among the providers we analyzed. NEXT and Progressive Commercial follow closely with rates below $77 monthly for identical coverage specifications.
Professional indemnity insurance for small businesses ranges from $26 monthly for low-risk industries like food services from NEXT to $193 monthly for high-risk sectors like mortgage brokers from Chubb. Costs vary significantly based on your industry, business size and claims history.
Mortgage brokers pay the highest professional indemnity insurance rates at $149 monthly, followed by lawyers at $130 monthly and accountants at $130 monthly. These professions face higher liability risks, resulting in higher premiums than service industries like barbers or florists.
Compare quotes from multiple providers, choose higher deductibles, bundle with other business policies and pay annually instead of monthly. These strategies can substantially reduce your premiums while maintaining the same coverage level for your business.
Yes, professional indemnity insurance costs vary significantly by state. Arizona offers the lowest rates at $66 monthly, while higher-cost states like California reach $80 monthly for identical coverage from the same provider, reflecting different state regulations and risk factors.
Most small businesses choose $1 million per occurrence (maximum payment for each individual claim) and $1 million aggregate coverage limits (total policy limit for all claims combined), which we used for rate comparisons. Larger firms often select $2 million limits. Match your coverage limits to your actual risk exposure rather than automatically choosing the highest available.
Yes, some insurers specialize in specific professions and may offer competitive rates for those sectors. Technology companies, health care providers and consultants often find better pricing from industry-focused insurers than general carriers offering standard policies.
Professional indemnity insurance shouldn't drain your business budget. Using the same business profile, we requested quotes from 10 major insurers to find which companies offer affordable coverage.
Our Research Approach
Every quote request used identical specifications:
Using the same profile across all insurers reveals genuine price differences rather than variables that muddy comparisons. Our focus on companies known for competitive small business rates means these findings reflect what you'll encounter when shopping for coverage.
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.
