NEXT tops our analysis of Connecticut business insurance providers because of its strong customer service and comprehensive coverage. The Hartford and Simply Business are also reliable options for small business owners across the state.
Business Insurance in Connecticut
NEXT tops our Connecticut business insurance rankings with a MoneyGeek score of 4.64 out of 5.
Find affordable coverage that protects your small business in Connecticut below.
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Updated: August 22, 2025
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Key Takeaways
Small business owners can get the best business insurance in Connecticut from NEXT, The Hartford and Simply Business.
The best business insurance in Connecticut depends on your industry risks, number of employees and desired coverage limits.
To find the best coverage, assess your risks, compare multiple quotes, research provider service quality and maximize available discounts.
Best Business Insurance Companies in Connecticut
| NEXT | 4.64 | 4 | 1 | 2 |
| The Hartford | 4.63 | 1 | 2 | 3 |
| Simply Business | 4.50 | 4 | 5 | 1 |
| Nationwide | 4.48 | 7 | 2 | 4 |
| Coverdash | 4.42 | 5 | 6 | 2 |
| biBERK | 4.40 | 8 | 2 | 5 |
| Progressive Commercial | 4.33 | 3 | 7 | 5 |
| Thimble | 4.33 | 2 | 8 | 5 |
| Hiscox | 4.29 | 6 | 4 | 6 |
| Chubb | 4.27 | 9 | 3 | 4 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best by Coverage Type
The Hartford leads Connecticut businesses with top general liability coverage and business owner's policies (BOP). NEXT provides the best professional liability insurance and workers' compensation coverage in the state.
| Business Owners Policy | The Hartford | 4.67 |
| General Liability | The Hartford | 4.61 |
| Professional Liability (E&O) | NEXT | 4.74 |
| Workers Compensation | NEXT | 4.61 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best Connecticut Small Business Insurance Reviews
Our research identified the three leading business insurance providers for Connecticut enterprises. Here's what makes each company stand out when you need complete coverage for your business.
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.5/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$112This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$75This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5.0Ranked #4 nationallyOur Survey: Likely to Be Recommended to Others
4.8/5.0Ranked #1 nationally
The Hartford
Best for Affordability
MoneyGeek Rating
4.6/ of 5
4.6/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$89This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$76This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
4.5/5#1 National RankingOur Survey: Likely to Be Recommended to Others
4.5/5#2 National Ranking
Simply Business
Best for Coverage Availability
MoneyGeek Rating
4.5/ of 5
4.5/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$104This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$77This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.7/5Our Survey: Likely to Be Recommended to Others
4.2/5
Cheapest Business Insurance Companies in Connecticut
The Hartford provides the most affordable business insurance in Connecticut at $92 monthly ($1,099 annually). Small business owners can also find competitive rates from Thimble at $101 monthly and Simply Business at $105 monthly. You'll find our complete analysis of business insurance costs in the table below.
| The Hartford | $92 | $1,099 |
| Thimble | $101 | $1,215 |
| Simply Business | $105 | $1,262 |
| Progressive Commercial | $108 | $1,296 |
| NEXT | $109 | $1,308 |
| Coverdash | $110 | $1,315 |
| Nationwide | $110 | $1,319 |
| biBERK | $113 | $1,357 |
| Hiscox | $117 | $1,399 |
| Chubb | $128 | $1,533 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest General Liability Insurance Companies in Connecticut
Connecticut business owners can find the cheapest general liability coverage through The Hartford at $89 monthly. Simply Business offers the next best rate at $104 per month. Compare all provider rates in the table below.
| The Hartford | $89 | $1,068 |
| Simply Business | $104 | $1,248 |
| Nationwide | $106 | $1,266 |
| Progressive Commercial | $109 | $1,307 |
| NEXT | $112 | $1,344 |
| Coverdash | $112 | $1,348 |
| Thimble | $116 | $1,395 |
| Hiscox | $124 | $1,485 |
| biBERK | $124 | $1,485 |
| Chubb | $129 | $1,550 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Professional Liability Insurance Companies in Connecticut
The Hartford offers the most affordable professional liability insurance (E&O) at $78 monthly ($936 annually). NEXT is another budget-friendly option for Connecticut businesses.
| The Hartford | $78 | $936 |
| NEXT | $79 | $951 |
| Thimble | $82 | $986 |
| Progressive Commercial | $82 | $988 |
| Simply Business | $83 | $998 |
| Hiscox | $83 | $1,000 |
| Coverdash | $85 | $1,018 |
| biBERK | $86 | $1,031 |
| Nationwide | $90 | $1,075 |
| Chubb | $96 | $1,156 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability/errors and omissions policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Workers’ Comp Insurance Companies in Connecticut
NEXT provides Connecticut's cheapest workers' comp coverage at $75 monthly ($895 annually). The Hartford and Thimble also offer competitive rates, making these solid choices for affordable business insurance.
| NEXT | $75 | $895 |
| The Hartford | $76 | $917 |
| Thimble | $76 | $917 |
| Simply Business | $77 | $919 |
| Hiscox | $77 | $926 |
| Progressive Commercial | $77 | $929 |
| Coverdash | $79 | $945 |
| biBERK | $81 | $975 |
| Nationwide | $88 | $1,054 |
| Chubb | $92 | $1,104 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest BOP Insurance Companies in Connecticut
The Hartford offers the cheapest BOP rates in Connecticut, with monthly premiums averaging $123 ($1,474 annually). Business owners can also find affordable BOP insurance through Thimble, Nationwide and Simply Business.
| The Hartford | $123 | $1,474 |
| Thimble | $130 | $1,562 |
| Nationwide | $157 | $1,880 |
| Simply Business | $157 | $1,882 |
| biBERK | $161 | $1,935 |
| Coverdash | $162 | $1,949 |
| Progressive Commercial | $163 | $1,961 |
| NEXT | $170 | $2,042 |
| Hiscox | $182 | $2,187 |
| Chubb | $193 | $2,321 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP policies. Survey results reflect limited sample data and may not represent all available rates in your area.
How Much Does Business Insurance Cost in Connecticut?
Business insurance in Connecticut costs between $80 and $160 monthly, with workers' compensation being the most affordable at $80 and business owner's policies the most expensive at $160. Rates vary based on the coverage type your business needs.
| BOP | $160 |
| General Liability | $112 |
| Professional Liability (E&O) | $84 |
| Workers Comp | $80 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cost of Business Insurance by Industry and Coverage
Business insurance costs in Connecticut vary significantly based on industry and coverage types. Speech therapists pay just $6 monthly for workers' compensation, while pressure washing businesses can face costs up to $1,474 for a business owner's policy.
Data filtered by:Results filtered by:
Select
Coverage Type:Business Owners Policy
Select
Industry:Accountants
| Accountants | Business Owners Policy | $36 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
What Factors Influence My Costs?
Your Connecticut business insurance costs can add up. Here are the key factors that determine your premium rates and why they matter.
Industry Risk Level
Your business type drives your insurance costs more than any other factor. Construction companies often pay $500 or more monthly for coverage due to workplace hazards, while consultants might pay just $50 monthly for similar coverage limits. Higher-risk industries face steeper rates because insurers know accidents happen more frequently.
Geographic Location and Weather Risks
Location heavily influences your Connecticut business insurance rates. Coastal areas face higher premiums due to hurricane risks, while inland locations often see better rates. According to NOAA data, Connecticut businesses face significant weather risks, with storm damage averaging $145 million annually. These costs drive up insurance premiums, especially near the coast.
Business Size
Your workforce size directly affects your insurance costs. Workers' compensation rates in Connecticut average $1.05 per $100 of payroll, while liability coverage increases with your revenue and customer volume. A retail store with 20 employees and high foot traffic pays substantially more than a solo consultant working from home.
Claims History
Your claims record follows your business for years and can quickly increase your premiums. Even a single liability claim affects rates across multiple coverage types. Insurance companies offer their best rates to businesses that maintain claim-free records, often providing discounts after three years without incidents.
Coverage Types and Limits
Your coverage choices directly impact your premium costs. While higher coverage limits increase rates, combining policies through a business owner's policy often saves 10% to 15% compared to purchasing coverage separately. Your deductible choice also affects monthly costs; higher deductibles mean lower premiums.
Years in Business
New businesses pay more for coverage since insurers lack data to evaluate risk levels. After operating claim-free for three years, many Connecticut businesses see premium reductions of 10% to 25% as they build a track record of responsible operation.
Professional Certifications
Safety certifications and professional licenses can reduce your insurance costs by 5% to 15%. OSHA safety certifications show insurers you prioritize workplace safety. Industry-specific credentials also help. Contractors with master licenses often qualify for better rates than those without certifications.
Connecticut Business Insurance Buying Guide
Getting business insurance can feel overwhelming when you're focused on running your business. Finding the right coverage in Connecticut is straightforward, and we'll guide you through each step to help you make confident decisions.
What Coverage Is Required?
We've completed the research on Connecticut business insurance requirements for you. Check the section below for a detailed breakdown of what your business needs.
Workers' Comp
Connecticut requires workers' compensation insurance for all businesses with one or more employees, whether full-time or part-time. This makes Connecticut one of 12 states with no employee threshold for this requirement. A few exemptions exist: household workers who work fewer than 25 hours per week, sole proprietors without employees and members of an LLC are exempt. However, most businesses with any employees must carry this coverage.
Commercial Auto Insurance
All business-owned vehicles in Connecticut must carry commercial auto insurance with minimum liability coverage of $25,000 per person for bodily injury, $50,000 per accident for bodily injury and $25,000 for property damage (25/50/25). Connecticut also requires uninsured and underinsured motorist coverage at the same limits as your liability coverage. This protects you if a driver without insurance or insufficient coverage hits you.
Professional Liability Insurance (Required for Health care Professionals)
Connecticut mandates professional liability insurance for specific healthcare professions:
Required for physicians: All Connecticut licensed physicians who provide direct patient care must maintain medical malpractice insurance with minimum limits of $500,000 per occurrence and $1.5 million annual aggregate.
Required for physical therapists: Licensed physical therapists providing direct patient care need the same minimum coverage — $500,000 per occurrence and $1.5 million aggregate.
Required for chiropractors: Chiropractors who provide direct patient care must carry professional liability insurance with the same minimum limits.
What Coverage Do We Recommend?
Connecticut keeps business insurance requirements minimal, but smart coverage choices protect your company from costly risks. Here's our analysis of essential coverage for the Constitution State's leading industries:
Manufacturing | General liability, product liability, workers' compensation, commercial property, supply chain interruption, precision equipment coverage, hurricane protection, business interruption | Connecticut manufacturers produce precision components for aerospace and defense, facing strict quality requirements and product liability. Hurricane damage to facilities can disrupt global supply chains for critical components. |
Consulting | Professional liability (E&O), general liability, cyber liability, employment practices liability, commercial property, business interruption, intellectual property coverage | Connecticut consultants serving Fortune 500 companies face high-stakes liability from strategic advice and implementation failures. Data breaches affecting client confidential information can result in substantial damages and reputation loss. |
Construction/Contractor | General liability, workers' compensation, commercial auto, builder's risk, professional liability, hurricane coverage, flood coverage, high-value property coverage, environmental liability | Connecticut's high property values create elevated replacement costs and liability exposure. Coastal construction projects face hurricane damage, flooding from storm surge and environmental concerns from waterfront development. |
Retail | General liability, commercial property, business interruption, cyber liability, commercial crime, hurricane coverage, employment practices liability, product liability | Connecticut retailers face hurricane business interruptions, especially along the coast, and cyber risks from payment processing. High-end establishments require elevated limits due to an affluent customer base and premium property locations. |
Restaurant | General liability, product liability, commercial property, equipment breakdown, business interruption, hurricane coverage, liquor liability, workers' compensation, employment practices liability | Connecticut restaurants serve affluent clientele with high liability expectations and face hurricane closures affecting coastal establishments. High real estate costs make business interruption coverage critical for survival during extended closures. |
How to Get the Best Cheap Business Insurance in Connecticut
Getting the right business insurance in the Constitution State can strain your budget and time. Here are proven ways to secure comprehensive coverage while keeping your insurance costs manageable:
- 1
Assess Your Business Risks
Start by evaluating your specific business vulnerabilities rather than accepting standard package recommendations. A retail store needs strong property and liability coverage, while an IT consultant should focus on professional liability and cyber protection.
- 2
Compare Multiple Insurance Quotes
Insurance companies calculate risk differently, leading to price variations for the same coverage. Contact at least three providers to compare rates and potentially save thousands on your annual premiums.
- 3
Evaluate Provider Reputation
Look beyond price to examine each insurer's financial strength and claims processing history. Check ratings from independent agencies and read customer reviews from Connecticut businesses in your industry.
- 4
Apply Available Discounts
Take advantage of cost-saving opportunities by bundling policies and maintaining good safety records. A retail store can combine property and liability coverage while documenting security measures to reduce premiums.
- 5
Schedule Annual Coverage Reviews
Business needs evolve with growth and market changes. A small manufacturer that adds new equipment or expands operations should reassess coverage levels to maintain appropriate protection at competitive rates.
Connecticut Business Insurance: Bottom Line
Based on our analysis, NEXT, The Hartford and Simply Business are Connecticut's best business insurance providers. However, what's right for you depends on your business risks and employee needs. Research each company's service quality, maximize discounts and select coverage that fits your budget.
Small Business Insurance in Connecticut: FAQ
Small business owners in Connecticut often have questions about choosing the right business insurance. Here are straightforward answers to the most common questions we receive:
What business insurance is required by law in Connecticut?
Connecticut businesses with employees must carry workers' compensation insurance. Companies with business vehicles need commercial auto coverage with minimum limits of $25,000/$50,000/$25,000. General liability isn't legally required but is strongly recommended.
How much does business insurance cost in Connecticut?
Business insurance in Connecticut ranges from $80 to $160 monthly, depending on coverage. Workers' compensation costs $80 monthly, while business owner's policies run $160. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Connecticut?
The Hartford offers the lowest rates at $92 monthly in Connecticut, with Thimble ($101) and Simply Business ($105) following behind. Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in Connecticut?
Start with general liability to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for company vehicles. Tech companies need cyber liability, while contractors require builders' risk and equipment coverage.
What is the best business insurance company in Connecticut?
NEXT leads Connecticut's business insurance market with a MoneyGeek score of 4.64 out of 5. The Hartford and Simply Business follow as excellent alternatives.
We suggest comparing several insurance providers to determine which best matches your business requirements.
Do small businesses in Connecticut need workers' compensation insurance?
Yes, Connecticut requires workers' compensation insurance for all businesses with one or more employees. Failing to maintain coverage can result in fines and legal penalties.
What factors affect business insurance costs in Connecticut?
Your industry impacts costs. Construction businesses pay higher premiums than consulting firms. Location affects rates, with coastal areas paying more due to hurricane risks. Higher employee counts raise workers' compensation costs, while claims history and safety certifications influence rates.
How do I get cheap business insurance in Connecticut?
Compare quotes from multiple insurers like The Hartford and NEXT. Bundle policies, implement safety programs and focus on both price and service quality when choosing coverage.
What's the difference between general liability and errors and omissions (professional liability) insurance in Connecticut?
General liability insurance protects against physical incidents like customer injuries and property damage. Professional liability (E&O) covers service-related mistakes, including missed deadlines and incorrect professional advice.
Can I get business insurance quotes online in Connecticut?
Yes, all major insurance providers offer online quotes in Connecticut. Have your business information ready for accurate quotes. Complex businesses may need an agent for specialized coverage options.
How We Scored the Best Business Insurance Companies in Connecticut
Small business owners in Connecticut need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Connecticut entrepreneurs navigate challenges like hurricane risks and the state's workers' compensation requirements.
We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We compare provider rates using consistent business profiles and coverage levels to identify insurers offering the best value.
- Customer experience (30% of score): Based on customer feedback, our analysis examines claims handling, online tools and support resources.
- Coverage options (15% of score): We evaluate the range of coverage types, customization options and industry-specific endorsements each insurer offers.
- Financial strength (5% of score): We review independent ratings from AM Best and other agencies to ensure insurers can pay claims reliably.
This approach helps Connecticut small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.
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.
sources
- National Centers for Environmental Information. "Billion-Dollar Weather and Climate Disasters." Accessed August 22, 2025.
- PR Newswire. "NEXT Insurance Empowers Agents with Enhanced Products, Cutting-Edge Digital Tools, Opening New Revenue Opportunities and Sparking Momentum in Small Business Insurance." Accessed August 22, 2025.
- Trustpilot. "Simply Business US." Accessed August 22, 2025.