NEXT leads Hawaii's business insurance providers with excellent customer service and comprehensive coverage options. Simply Business and Coverdash offer reliable alternatives for local business owners with strong performance scores and comprehensive protection.
Business Insurance in Hawaii
NEXT tops our business insurance Hawaii rankings with a MoneyGeek score of 4.62 out of 5.
Find affordable coverage that protects your small business in Hawaii below.
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Updated: August 18, 2025
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Key Takeaways
Small business owners in Hawaii can find the best insurance coverage through NEXT, Simply Business and Coverdash.
The best business insurance in Hawaii depends on your company's specific risks, number of employees and desired coverage limits.
To secure the best coverage, assess your business risks, get quotes from multiple providers, check company reviews and look for discounts.
Best Business Insurance Companies in Hawaii
| NEXT | 4.62 | 2 | 1 | 2 |
| Simply Business | 4.48 | 3 | 4 | 1 |
| Coverdash | 4.40 | 4 | 5 | 2 |
| biBERK | 4.38 | 6 | 2 | 3 |
| Thimble | 4.30 | 1 | 6 | 3 |
| Hiscox | 4.27 | 5 | 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
NEXT leads Hawaii's business insurance market, offering the best general liability coverage, business owner's policies (BOP) and professional liability insurance. The company also provides top-rated workers' compensation insurance for island businesses.
| Business Owners Policy | NEXT | 4.63 |
| General Liability | NEXT | 4.55 |
| Professional Liability (E&O) | NEXT | 4.72 |
| Workers Compensation | NEXT | 4.59 |
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 Hawaii Small Business Insurance Reviews
Our research identified Hawaii's top three business insurance providers based on coverage options, rates and customer service. Here's what makes each company stand out for small business owners looking for reliable coverage.
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$109This 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
$73This 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
3.9/5Our Survey: Likely to Be Recommended to Others
4.8/5
Simply Business
Best for Coverage Options
MoneyGeek Rating
4.5/ of 5
4.4/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$101This 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
3.7/5Our Survey: Likely to Be Recommended to Others
4.2/5
Cheapest Business Insurance Companies in Hawaii
Thimble provides the most affordable business insurance in Hawaii with rates of $98 monthly ($1,179 annually). Simply Business and NEXT round out the top three budget-friendly options, with premiums of $102 and $105 per month respectively. Compare all available providers and their rates in the table below.
| Thimble | $98 | $1,179 |
| Simply Business | $102 | $1,218 |
| NEXT | $105 | $1,266 |
| Coverdash | $106 | $1,277 |
| biBERK | $109 | $1,312 |
| Hiscox | $113 | $1,356 |
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 Hawaii
The Hartford offers the cheapest general liability coverage in Hawaii at $86 per month. Simply Business provides the next most affordable option at $101 monthly. Compare rates from all providers in the table below.
| The Hartford | $86 | $1,036 |
| Simply Business | $101 | $1,211 |
| Nationwide | $102 | $1,228 |
| Progressive Commercial | $106 | $1,267 |
| NEXT | $109 | $1,304 |
| Coverdash | $109 | $1,308 |
| Thimble | $113 | $1,355 |
| Hiscox | $120 | $1,441 |
| biBERK | $120 | $1,442 |
| Chubb | $125 | $1,503 |
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 Hawaii
NEXT offers the lowest-cost professional liability insurance (E&O) at $77 monthly ($919 annually). Thimble provides another affordable option for business owners in the state.
| NEXT | $77 | $919 |
| Thimble | $80 | $963 |
| Simply Business | $80 | $963 |
| Hiscox | $81 | $975 |
| Coverdash | $82 | $983 |
| biBERK | $83 | $998 |
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 Hawaii
NEXT offers Hawaii's cheapest workers' comp rates at $73 monthly ($870 annually). Thimble and Hiscox provide similarly competitive rates, making all three solid choices for affordable business insurance in the state.
| NEXT | $73 | $870 |
| Thimble | $73 | $881 |
| Hiscox | $75 | $903 |
| Simply Business | $75 | $905 |
| Coverdash | $77 | $918 |
| biBERK | $79 | $946 |
| Chubb | $89 | $1,072 |
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 Hawaii
Thimble offers the cheapest BOP rates in Hawaii at $126 per month ($1,516 annually). Business owners can also find affordable BOP insurance with Simply Business, biBERK and Coverdash.
| Thimble | $126 | $1,516 |
| Simply Business | $149 | $1,794 |
| biBERK | $155 | $1,861 |
| Coverdash | $158 | $1,899 |
| NEXT | $164 | $1,971 |
| Hiscox | $176 | $2,106 |
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 Hawaii?
Business insurance in Hawaii ranges from $75 to $155 monthly, with workers' compensation being the most affordable and business owner's policies the most expensive. Rates vary based on the coverage type your business needs.
| BOP | $155 |
| General Liability | $112 |
| Professional Liability (E&O) | $81 |
| Workers Comp | $75 |
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 Hawaii vary significantly by industry and coverage type. Speech therapists pay as little as $6 monthly for workers' compensation, while pressure washing businesses can expect to pay up to $1,355 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 | $35 |
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?
Here are several factors that affect your business insurance premiums in Hawaii:
Industry Risk Level
Your business type largely determines your insurance costs. Construction companies in Hawaii pay more due to workplace hazards and expensive equipment, while consultants see lower rates. A construction contractor might pay $500 monthly for coverage, while an accountant pays closer to $50.
Geographic Location and Weather Risks
Hawaii business insurance rates reflect unique island risks. Coastal properties face higher costs due to hurricane and tsunami exposure. According to NOAA data, Hawaii businesses deal with frequent natural disasters, including volcanic activity and tropical storms, which increases insurance costs across all islands.
Business Size
Your employee count directly affects insurance costs. Workers' compensation rates are calculated per $100 of payroll, while general liability costs increase with higher revenue and customer traffic. A retail store with 15 employees pays much more than a solo consultant working from home.
Claims History
Previous claims increase your rates for years afterward. Filing multiple claims signals higher risk to insurers, leading to premium increases across all your coverage types. Most Hawaii insurers offer better rates to businesses that maintain claim-free records for three or more years.
Coverage Types and Limits
Your premium reflects both the types of coverage you choose and your coverage limits. While higher limits increase costs, combining multiple coverages into a business owner's policy often saves money. Hawaii businesses near the coast typically need higher coverage limits for property protection.
Years in Business
New Hawaii businesses face higher insurance rates since insurers lack data to assess their risk level. Operating for several years with few or no claims helps prove your reliability, often leading to lower premiums after your third year in business.
Professional Certifications
Safety certifications and professional licenses can reduce your insurance costs. Hawaii contractors with OSHA safety certifications often qualify for lower rates. Industry-specific credentials show insurers you follow best practices to prevent accidents and losses.
Hawaii Business Insurance Buying Guide
Running your business takes most of your attention, which makes getting business insurance seem overwhelming. This guide covers what you need to know about business insurance in Hawaii.
What Coverage Is Required?
Hawaii requires specific business insurance coverage. Here's what your business needs:
Workers' comp
Hawaii requires workers' compensation insurance for businesses with one or more employees, whether full-time or part-time. This includes temporary workers, family members, minors and immigrant employees.
Exemptions: Independent contractors and domestic employees are not required to be covered, though you should verify that contractors are truly independent and not employees under Hawaii law.
Additional requirement: Hawaii also mandates Temporary Disability Insurance (TDI) coverage for non-work-related sickness or injury, providing partial wage replacement for eligible employees.
Commercial auto insurance
All business-owned vehicles in Hawaii must carry commercial auto insurance with minimum liability coverage of $20,000 per person for bodily injury, $40,000 per accident for bodily injury and $10,000 for property damage (20/40/10).
What Coverage Do We Recommend?
Hawaii keeps business insurance regulations minimal, but you must choose your coverage carefully. Here are recommended insurance options for the state's key industries:
Restaurant | General liability, product liability, commercial property, equipment breakdown, business interruption, hurricane coverage, tsunami coverage, volcano coverage, tourist liability coverage | Hawaii restaurants face hurricane closures, tsunami evacuation requirements, and volcanic ash disruptions. Tourist-focused establishments require elevated liability limits due to unfamiliar customers and high-value vacation experiences. |
Marine | Marine general liability, hull and machinery, charter boat coverage, commercial fishing vessel, hurricane coverage, tsunami coverage, reef damage liability, marine wildlife protection | Hawaii marine businesses face hurricane damage, tsunami risks, and environmental liability in protected coral reef areas. Charter operations and fishing vessels require specialized coverage for tourist injuries and marine ecosystem damage. |
Retail | General liability, commercial property, business interruption, hurricane coverage, tsunami coverage, supply chain interruption, tourist liability coverage, volcanic ash coverage | Hawaii retailers face supply chain disruptions from ocean shipping delays, hurricane closures, and volcanic activity. Tourist-oriented retail requires specialized coverage for high-value merchandise and international customer liability. |
Construction/Contractor | General liability, workers' compensation, commercial auto, builder's risk, professional liability, hurricane coverage, tsunami coverage, volcanic activity coverage, saltwater corrosion coverage | Hawaii construction faces hurricane damage, tsunami risks, and accelerated corrosion from saltwater exposure. Island construction projects have limited material supply chains and require specialized wind-resistant building standards. |
How to Get the Best Cheap Business Insurance in Hawaii
When managing a small company, getting the right business insurance in Hawaii can strain your budget. Here's how to secure reliable coverage that protects your business while keeping costs manageable:
- 1
Assess Your Business Risks
Start by evaluating your business's specific risks rather than purchasing unnecessary coverage. A beachfront restaurant needs strong property and flood insurance, while an inland retail store might focus more on general liability and theft protection.
- 2
Compare Multiple Insurance Quotes
Insurance costs vary significantly between providers in Hawaii. Contact at least three different insurance companies to compare rates and coverage options. Local insurers often understand Hawaii's unique business environment better than mainland companies.
- 3
Evaluate Insurance Provider Quality
Look beyond just price when selecting an insurer in Hawaii. Check each company's financial strength ratings and read reviews from other local business owners about their claims experience and customer service quality.
- 4
Take Advantage of Available Discounts
Many insurers offer cost-saving opportunities for Hawaii businesses. Combine your property and liability coverage into a business owner's policy (BOP) and maintain good safety records to qualify for lower rates.
- 5
Schedule Annual Coverage Reviews
Your insurance needs change as your business grows in Hawaii. A small tour operator who adds new vehicles or activities needs updated coverage, while an expanding retail store might need increased inventory protection.
Hawaii Business Insurance: Bottom Line
Based on our analysis, NEXT, Simply Business and Coverdash are Hawaii's best business insurance providers. However, your best choice 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 Hawaii: FAQ
Business owners in Hawaii often have questions about insurance requirements and coverage options, so our insurance experts provide answers to common questions below.
What business insurance is required by law in Hawaii?
Hawaii requires workers' compensation insurance for businesses with employees. For commercial vehicles, you need minimum coverage of $20,000/$40,000/$10,000. General liability insurance isn't mandatory but is often required by landlords and contracts.
How much does business insurance cost in Hawaii?
Business insurance costs in Hawaii range from $75 to $155 monthly, depending on coverage. Workers' compensation is the most economical at $75, while business owner's policies run $155. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Hawaii?
Thimble offers the lowest rates at $98 monthly in Hawaii, with Simply Business ($102) and NEXT ($105) following behind. Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in Hawaii?
Start with general liability insurance to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for company vehicles. Retail stores need property coverage, while contractors require equipment protection.
What is the best business insurance company in Hawaii?
NEXT leads business insurance providers in Hawaii with an MG score of 4.6 out of 5.0. Simply Business and Coverdash follow as reliable alternatives. Compare multiple insurers to secure coverage that matches your business requirements.
Do small businesses in Hawaii need workers' compensation insurance?
Yes, Hawaii requires workers' compensation insurance for all businesses with employees, including small businesses. Failing to provide coverage can result in fines and legal penalties.
What factors affect business insurance costs in Hawaii?
Your industry heavily influences insurance costs. Construction businesses pay much more than retail stores. Coastal locations in Hawaii face steeper rates due to hurricane exposure. Higher employee counts raise workers' compensation premiums, while claim history and safety measures affect rates.
How do I get cheap business insurance in Hawaii?
Compare quotes from top insurers like NEXT, Simply Business and Coverdash. Research their service quality and claims handling. Bundle policies and implement safety programs for additional savings.
What's the difference between general liability and errors and omissions (professional liability) insurance in Hawaii?
General liability insurance protects against physical accidents and property damage. Errors and omissions insurance covers professional mistakes like missed deadlines or incorrect advice. Service businesses often need both types of coverage.
Can I get business insurance quotes online in Hawaii?
All major insurers provide online business insurance quotes in Hawaii. Keep your business information handy for accurate quotes. Complex businesses may require an agent's expertise for specialized coverage.
How We Scored the Best Business Insurance Companies in Hawaii
Small business owners in Hawaii need reliable coverage that protects their operations within their budgets. We designed our methodology to help Hawaii entrepreneurs address challenges like hurricane risks and the state's optional workers' compensation laws.
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 yearly, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We compared rates across carriers, factoring in coverage limits and deductibles to determine value. Lower premiums for similar coverage earned higher scores.
- Customer experience (30% of score): Our analysis covered claims processing speed, customer service quality and digital tools. We evaluated complaint ratios and satisfaction scores.
- Coverage options (15% of score): We assessed policy customization options, industry-specific endorsements and coverage limits flexibility.
- Financial strength (5% of score): We reviewed AM Best ratings and other financial metrics to ensure carriers can reliably pay claims.
This approach helps Hawaii 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 18, 2025.