NEXT and The Hartford earned our top spots for the best small business insurer for engineering companies due to their strong coverage and customer service. However, we recommend comparing quotes from our other top picks, including biBERk and Nationwide.
Best Engineering Business Insurance
Updated: July 17, 2025
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Key Takeaways
NEXT and The Hartford are the best business insurance companies for engineering firms because they offer the greatest balance of customer service and coverage.
biBERK offers the cheapest rates for key coverage types like general liability and BOP insurance for engineering businesses, based on our analysis of a specific business profile. Your actual rates may vary based on your business size, location, and risk factors.
To shop for business insurance for your engineering business, assess the risks in your industry, consult agents and other similar organizations and compare multiple options.
Best Business Insurance for Engineering Companies
| NEXT Insurance | 95 | 95 | 94 |
| The Hartford | 95 | 96 | 91 |
| biBERK | 94 | 98 | 91 |
| Thimble | 89 | 94 | 81 |
| Nationwide | 89 | 86 | 91 |
| Progressive Commercial | 87 | 89 | 81 |
| Chubb | 85 | 80 | 87 |
| Simply Business | 85 | 80 | 83 |
| Coverdash | 85 | 80 | 83 |
| Hiscox | 84 | 82 | 87 |
*All scores were based on MoneyGeek's analysis of a sample engineering business with two employees across professional liability, general liability, workers' comp and BOP policies. Individual results may vary based on specific business factors and location.
1. NEXT
pros
Excellent customer satisfaction
Strong digital experience
Competitive rates for engineers
cons
No coverage for large-scale industrial projects
COMPANY HIGHLIGHTS
NEXT Insurance is our top pick for small engineering firms that want easy, affordable coverage without hassle. It ranks highest in customer service and is consistently one of the most affordable options across general liability, professional liability and BOP coverage. Engineers can apply online and receive instant proof of insurance.
NEXT’s digital-first model makes policy management and claims straightforward. However, its policy limits and underwriting appetite may not suit firms tackling heavy civil or infrastructure projects.
2. The Hartford
pros
Great balance of price and stability
Top-rated for professional liability
Scalable policies for growing firms
cons
Limited short-term coverage options
COMPANY HIGHLIGHTS
The Hartford is an excellent option for engineers who want long-term, scalable financial protection from a trusted insurer. It offers the lowest average cost for professional liability and one of the most affordable BOP options.
With nearly 200 years in the industry, The Hartford is known for its financial strength and tailored coverage for professional services. Engineering firms with staff or specialized equipment will appreciate its strong endorsements and optional add-ons. But it doesn't offer hyper-flexible policies like Thimble or NEXT.
3. biBERK
pros
Cheapest rates across most policies
Backed by Berkshire Hathaway
Fast online quote process
cons
No in-person agents or local offices
COMPANY HIGHLIGHTS
biBERK is the best choice for cost-conscious engineering firms. It offers the lowest rates for general liability and BOP, making it a great pick for solo practitioners or two-person teams. The company is part of Berkshire Hathaway, which adds a layer of financial trust and credibility. Policyholders can get quotes and purchase coverage fully online, usually within minutes. However, biBERK’s lack of agent support or in-person service could be a concern for firms that want hands-on consultation or complex policy structures.
Cheapest Business Insurance for Engineering Firms
Based on our study of business insurance pricing, biBERK offers the cheapest overall commercial insurance for engineering companies across most policy types. However, this applies only to engineering companies with two employees, and you may find lower rates elsewhere. Below are the most affordable providers by major coverage types.
Cheapest General Liability Insurance for Engineering Companies
With an average monthly rate of $17, biBERK offers the lowest-cost general liability insurance for engineering companies. Even so, consider getting quotes from the next-most-affordable insurers: Thimble and NEXT Insurance.
| biBERK | $17 | $201 |
| Thimble | $24 | $294 |
| NEXT Insurance | $26 | $307 |
| The Hartford | $28 | $331 |
| Nationwide | $30 | $361 |
| Progressive Commercial | $33 | $399 |
| Chubb | $38 | $453 |
| Hiscox | $42 | $505 |
| Coverdash | $46 | $552 |
| Simply Business | $49 | $588 |
Cheapest Workers' Comp Insurance for Engineering Companies
For engineering businesses shopping for workers' comp insurance, Thimble tops our list as the most affordable insurer, with average rates of $16 per month or $196 yearly. But you may find more affordable rates with Simply Business, Progressive Commercial, Hiscox and NEXT.
Workers' compensation requirements vary by state. Check with your state's labor department for specific requirements in your location.
| Thimble | $16 | $196 |
| Hiscox | $18 | $219 |
| Progressive Commercial | $18 | $211 |
| Simply Business | $18 | $218 |
| biBERK | $19 | $231 |
| Coverdash | $19 | $224 |
| NEXT Insurance | $19 | $228 |
| The Hartford | $19 | $222 |
| Nationwide | $20 | $246 |
| Chubb | $22 | $264 |
Cheapest Professional Liability Insurance for Engineering Companies
The Hartford offers the most affordable professional liability insurance options for engineering companies, with low average monthly rates of $110. You may also want to compare prices from other low-cost providers like NEXT Insurance, Progressive Commercial and Thimble.
Professional liability coverage has specific exclusions and limitations. Review policy terms carefully to understand what's covered.
| The Hartford | $110 | $1,326 |
| NEXT Insurance | $115 | $1,380 |
| Progressive Commercial | $118 | $1,414 |
| Thimble | $121 | $1,457 |
| Hiscox | $122 | $1,464 |
| Simply Business | $122 | $1,467 |
| Coverdash | $124 | $1,492 |
| biBERK | $127 | $1,526 |
| Nationwide | $134 | $1,603 |
| Chubb | $144 | $1,725 |
Cheapest BOP Insurance for Engineering Companies
For engineering firms seeking combined general liability and property insurance in a business owner’s policy (BOP), biBERK offers the lowest average annual rate at $262. This is $161 cheaper yearly than the next cheapest provider, The Hartford.
| biBERK | $22 | $262 |
| The Hartford | $35 | $423 |
| NEXT Insurance | $37 | $444 |
| Thimble | $38 | $453 |
| Nationwide | $45 | $545 |
| Progressive Commercial | $49 | $593 |
| Chubb | $57 | $683 |
| Hiscox | $63 | $758 |
| Coverdash | $66 | $793 |
| Simply Business | $73 | $880 |
What Type of Coverage Do You Need for a Engineering Business?
Most companies with employees are legally required to carry workers' comp insurance, and businesses that use vehicles must have commercial auto coverage. Many clients or contracts also require businesses to carry general liability insurance before starting work. A surety bond may also be necessary in certain industries, especially when contracts require guarantees of service or compliance.
RECOMMENDED ENGINEERING BUSINESS COVERAGE
General liability insurance is strongly recommended for engineering companies because it covers common risks like bodily injury, property damage and legal defense costs. Professional liability insurance is also a smart option for businesses that work under client contracts or provide specialized services. This coverage becomes especially useful for companies offering specialized services or handling large contracts where the risk of disputes is higher.
How to Get the Best Cheap Business Insurance for Your Engineering Company
Here's how to find the best and cheapest business insurance for your engineering company, using our step-by-step method.
- 1
Decide on coverage needs before buying
Think about what could go wrong in your engineering business, talk to other engineers about their experiences, consult with agents and research the types of business insurance. Understanding risks upfront helps you buy the right coverage without paying for protection you don't need.
- 2
Research costs
Know what you should expect to pay before you start shopping. Look up typical insurance costs for engineering firms your size, then identify which companies offer the lowest rates. This homework gives you negotiating power and helps you spot a good deal.
- 3
Look into company reputations and coverage options
Check out what real customers say about each insurer on sites like Trustpilot and Google, or browse Reddit threads where business owners share their experiences. Look into each company's coverage options since your engineering firm might grow or change.
- 4
Compare multiple quotes through different means
Get quotes from at least three companies, but where you get those quotes affects the price. An independent agent might find you a deal that doesn't show up on a company's website. Online comparison tools are quick, but calling insurers directly sometimes unlocks discounts.
- 5
Reassess annually
Your business situation will change, influencing your rates and coverage needs. Repeat these steps annually to ensure you still have the best deal.
How to Decrease Your Engineering Business's Liability Risk
Reducing risks in your engineering business helps keep insurance costs down. We've organized practical strategies by business type and risk level to help you handle this process.
Best Insurance for Engineering Business: Bottom Line
NEXT Insurance is the best insurer for engineering business insurance, while biBERK offers the cheapest option overall. We also recommend getting quotes from The Hartford and Nationwide. For the best deal, talk to agents, research providers and pricing and compare multiple quotes side by side.
Engineering Business Risk Type | Included Types of Engineering Firms | Risk Mitigation Tactics |
|---|---|---|
Highest | Structural engineering, civil infrastructure, mechanical systems design, aerospace engineering | Carry professional liability and E&O insurance; implement QA/QC review protocols; maintain updated licensure and building code compliance; use contracts with liability disclaimers |
Moderate | Electrical, environmental, HVAC, geotechnical engineering | Obtain adequate general liability and workers' comp coverage; follow safety standards for field inspections; document all communications with clients |
Lower | Software engineering, systems analysis, non-licensed consultancy work | Secure cyber liability and BOP coverage; use strong client onboarding agreements; ensure data privacy compliance and backup procedures |
Engineering Business Insurance: FAQ
Here are some frequently asked questions about business insurance for engineering companies.
Who offers the best engineering business insurance overall?
NEXT and The Hartford provide the best business insurance for engineering firms, both rated highly in customer service and with MoneyGeek scores of 95 out of 100.
Who has the cheapest business insurance for engineering companies?
Here are the cheapest business insurance companies for engineers by coverage type:
- Cheapest general liability insurance: biBERK at $17 per month
- Cheapest workers' comp insurance: Thimble at $16 per month
- Cheapest professional liability insurance: The Hartford at $110 per month
- Cheapest BOP insurance: biBERK at $22 per month
What business insurance is required for engineering organizations?
Workers' compensation insurance (if you employ staff) and commercial auto insurance (for business vehicles) are legally required for engineering firms, with state-specific conditions. While not legally required, general liability insurance and surety bonds are important for meeting client and lease requirements.
How much does engineering business insurance cost?
Business insurance costs for engineering firms depend on the policy type and size of your company. Below are the average costs for commonly needed small business coverage:
- General liability: $33 per month
- Workers' comp: $19 per month
- Professional liability: $124 per month
- BOP insurance: $49 per month
How We Chose the Best Engineering Business Insurance
We selected the best business insurer for engineering companies based on the following criteria:
- Affordability (50% of score): The lower a company's costs compared to the competition based on our base profile for four core coverage types, the better it performs.
- Customer service (30% of score): We scored providers on overall customer satisfaction using industry studies, customer review forum ratings and public forum sentiment analysis from sites like Reddit.
- Coverage (15% of score): We scored business insurance for this category based on the flexibility, payment and actual coverage options.
- Financial stability (5% of score): Using financial stability industry ratings from companies like AM Best and Moody's, we created an overall rating to judge how likely a company is to pay out claims compared to the competition.
All pricing in this article is based on the following base profile to represent the vast majority of small businesses in all states:
- Three-person business with two employees
- Coverage: $1 million per occurrence and $2 million total per year for all but BOP, which includes the same coverage plus $5,000 of business property coverage
- $150,000 in payroll
- $300,000 annual revenue
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.