Nationwide earned our top spot for the best small business insurer for hospitality companies for its competitive rates and coverage. However, we recommend comparing quotes from our other top picks, including The Hartford, NEXT and Coverdash.
Best Hospitality Business Insurance
Updated: July 9, 2025
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Key Takeaways
Nationwide is the best business insurance company for hospitality firms because it offers the best balance of competitive rates and customer service.
Nationwide offers some of the cheapest overall commercial insurance rates for hospitality businesses, leading in general liability and BOP coverage costs.
To shop for business insurance for your hospitality business, research industry risks, talk to agents and other hospitality business owners and compare multiple options.
Best Business Insurance for Hospitality Companies
| Nationwide | 95 | 98 | 91 |
| NEXT Insurance | 94 | 92 | 94 |
| The Hartford | 93 | 93 | 91 |
| Coverdash | 92 | 95 | 83 |
| Simply Business | 90 | 90 | 83 |
| Chubb | 88 | 85 | 87 |
| Progressive Commercial | 88 | 90 | 81 |
| Hiscox | 87 | 89 | 87 |
| Thimble | 87 | 89 | 81 |
| biBERK | 85 | 80 | 91 |
*All scores were based on a hospitality business with two employees across professional liability, general liability, workers' comp and BOP policies.
1. Nationwide
pros
Lowest general liability and BOP rates
Highly rated customer service
Strong reputation in hospitality industry
cons
Online quote process can be slower
COMPANY HIGHLIGHTS
Nationwide ranks first for hospitality insurance thanks to its unbeatable pricing and long-standing credibility. It offers the lowest costs for both general liability and BOP insurance, which helps restaurants, hotels and event-based businesses that need protection for guest injuries and property damage.
Its service network is robust, with in-person and agent-led support that appeals to traditional business owners. With more than 90 years of experience and a strong claims track record, Nationwide is a trusted partner for venues with high guest traffic. While it doesn’t lead on digital convenience, it delivers on value, service,and reliability.
2. NEXT
pros
Easy online quoting and policy access
High customer satisfaction score
Competitive pricing on all major policies
cons
May lack specialized coverage for complex operations
COMPANY HIGHLIGHTS
NEXT is a great fit for smaller hospitality businesses that need fast, affordable insurance without the wait. Its fully digital platform is a favorite among cafes, boutique hotels and catering companies that want coverage issued in minutes.
NEXT consistently ranks highly for service, with a 4.7‑out‑of‑5 customer rating and strong pricing for general liability, workers' comp and professional liability. It’s a smart pick for owner-operators or startups in the hospitality sector. While larger venues with custom needs may require more tailored underwriting, NEXT excels for speed, value and simplicity.
3. The Hartford
pros
Cheapest professional liability insurance
Excellent financial strength (A+ AM Best)
Strong coverage for multi-service businesses
cons
Digital tools feel less modern
COMPANY HIGHLIGHTS
The Hartford is a strong contender for hospitality businesses that want comprehensive, traditional coverage from a top-rated insurer. It provides the lowest average pricing for professional liability insurance and offers strong pricing on BOP and workers’ comp as well.
Backed by an A+ rating from AM Best, The Hartford is ideal for venues with mixed operations, like resorts with food, lodging and event services. It’s a go-to for mid-sized and upscale businesses that prefer personalized agent support over a DIY experience. While its digital features may lag behind others, its legacy and dependability are unmatched.
Cheapest Business Insurance for Hospitality Firms
Based on our study of business insurance pricing, Nationwide offers competitive rates for hospitality companies, leading in general liability and BOP coverage. However, this applies only to hospitality 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 Hospitality Companies
With an average monthly rate of $20, Nationwide offers the lowest-cost general liability insurance for hospitality companies. Also consider quotes from Coverdash and The Hartford, the next-cheapest options.
| Nationwide | $20 | $241 |
| Coverdash | $38 | $453 |
| NEXT Insurance | $55 | $663 |
| The Hartford | $55 | $660 |
| Simply Business | $64 | $765 |
| Progressive Commercial | $66 | $794 |
| Thimble | $71 | $847 |
| Hiscox | $72 | $869 |
| Chubb | $81 | $977 |
| biBERK | $140 | $1,681 |
Cheapest Workers' Comp Insurance for Hospitality Companies
For hospitality businesses shopping for workers' comp insurance, Thimble tops our list as the most affordable insurer, with average rates of $30 per month or $358 yearly. You may also find competitive rates with Progressive Commercial, Simply Business and Hiscox.
| Thimble | $30 | $358 |
| Progressive Commercial | $32 | $386 |
| Hiscox | $33 | $399 |
| Simply Business | $33 | $398 |
| Coverdash | $34 | $409 |
| The Hartford | $34 | $405 |
| biBERK | $35 | $421 |
| NEXT Insurance | $35 | $416 |
| Nationwide | $37 | $449 |
| Chubb | $40 | $481 |
Cheapest Professional Liability Insurance for Hospitality Companies
The Hartford offers the most affordable professional liability insurance options for hospitality companies, with low average monthly rates of $65. Also consider quotes from NEXT, Progressive Commercial and Thimble, other low-cost options.
| The Hartford | $65 | $784 |
| NEXT Insurance | $68 | $818 |
| Progressive Commercial | $70 | $841 |
| Thimble | $72 | $863 |
| Hiscox | $73 | $879 |
| Simply Business | $73 | $873 |
| Coverdash | $75 | $894 |
| biBERK | $76 | $913 |
| Nationwide | $79 | $946 |
| Chubb | $86 | $1,029 |
Cheapest BOP Insurance for Hospitality Companies
Nationwide provides the most affordable business owner's policy (BOP) coverage for hospitality companies, with an average yearly cost of $359 for bundled general liability and property protection. That's a savings of roughly $300 annually compared to Coverdash, the second most affordable option.
| Nationwide | $30 | $359 |
| Coverdash | $55 | $659 |
| The Hartford | $70 | $841 |
| NEXT Insurance | $80 | $960 |
| Simply Business | $95 | $1,141 |
| Progressive Commercial | $99 | $1,187 |
| Hiscox | $108 | $1,293 |
| Thimble | $109 | $1,306 |
| Chubb | $122 | $1,462 |
| biBERK | $182 | $2,187 |
What Type of Coverage Do You Need for a Hospitality 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 HOSPITALITY BUSINESS COVERAGE
Hospitality companies should carry general liability insurance 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.
Coverage Recommendations by Hospitality Company Type
We've outlined a list that categorizes hospitality business types by their risk exposure and insurance needs. This list starts with those facing the highest claim risk, ensuring businesses can match their coverage to their specific service type.
Hospitality Business Type | Coverage Types Recommendation | Most Common Insurance Claims | Most Common Reasons For Litigation |
|---|---|---|---|
Hotel or Resort | General Liability, Workers’ Comp, BOP, Liquor Liability, Cyber Liability | Guest injury, staff accident, data breach, theft | Slip-and-fall lawsuits, employment disputes, credit card data exposure |
Restaurant or Café | General Liability, BOP, Workers’ Comp, Liquor Liability, Equipment Breakdown | Food poisoning, burns or cuts, kitchen fires | Food safety violations, intoxicated patron incidents, wage/hour lawsuits |
Event Venue or Banquet Hall | General Liability (high limits), Workers’ Comp, Umbrella Policy, BOP | Crowd injury, equipment failure, alcohol-related incidents | Guest injury lawsuits, breach of contract, security failure claims |
Catering or Food Truck Business | General Liability, Commercial Auto, BOP, Workers’ Comp, Product Liability | Auto accidents, food spoilage, injury during service | Allergic reaction lawsuits, vehicle damage claims, contract disputes |
Short-Term Rental (e.g., Airbnb Host) | General Liability, Property Insurance, Cyber Liability, Umbrella Policy | Property damage, guest injury, online fraud | Invasion of privacy claims, fire or hazard-related lawsuits, theft claims |
How to Get the Best Cheap Business Insurance for Your Hospitality Company
Here's a step-by-step method for finding the best and cheapest business insurance for your hospitality company.
- 1
Decide on coverage needs before buying
Consider risks specific to your business for claims, get advice from similar businesses, talk to agents and research the types of business insurance. This will give you a balanced perspective on your coverage needs and prevent you from being convinced to get excessive coverage.
- 2
Research costs
To get the best deal, research average costs for your business profile and determine which providers offer the cheapest rates overall. This will give you a measuring stick for how much you're saving when comparing quotes and which companies to start with.
- 3
Look into company reputations and coverage options
To narrow your list, research what customers say on online rating sites and forums to get a more comprehensive look at company services. Also, to align with your coverage needs and future ones, research coverage options to ensure you're covered for the right items.
- 4
Compare multiple quotes through different means
The best way to find the lowest rates is to compare multiple quotes for apples-to-apples coverage. Pricing differs by your comparison method, whether with captive agents, comparison sites, company websites or independent agents.
- 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 Hospitality Business's Liability Risk
Reducing risk is key to keeping insurance costs manageable for hospitality businesses. We've organized risk mitigation strategies by business type and risk level to help you find the best fit for your needs.
Risk Level | Included Types | Risk Mitigation Tactics |
|---|---|---|
Highest | Hotels, event venues, restaurants serving alcohol | Train staff in alcohol service and emergency response. Use liability waivers for events. Carry liquor and umbrella insurance. Maintain strong HR policies and surveillance systems. |
Moderately High | Catering services, food trucks, boutique hotels | Inspect and clean equipment regularly. Use signed service agreements. Monitor food handling. Maintain commercial auto and product liability coverage. |
Moderate | Coffee shops, fast-casual restaurants, mid-sized inns | Enforce slip prevention measures. Keep employee safety logs. Bundle general liability and BOP for broad protection. Use vendor contracts with indemnification. |
Moderately Low | Independent B&Bs, small bars, private venues | Post clear guest safety rules. Limit capacity and hours. Secure all payment platforms. Carry cyber and general liability policies. |
Lowest | Short-term rentals and home-based hospitality businesses | Use third-party platforms with host protection. Require ID verification. Include safety rules in booking instructions. Maintain umbrella and property coverage. |
Best Insurance for Hospitality Business: Bottom Line
Nationwide is the best insurer for hospitality business insurance, while it also offers the cheapest option overall. We also recommend getting quotes from NEXT, The Hartford and Coverdash. For the best deal, talk to agents, research providers and pricing and compare multiple quotes side by side.
Hospitality Business Insurance: FAQ
Below, we answer common questions about hospitality business insurance.
Who offers the best hospitality business insurance overall?
Nationwide offers the best business insurance for hospitality companies, boasting a superior customer service rating and an impressive MoneyGeek score of 95 out of 100. The Hartford follows closely as a reliable second choice.
Who has the cheapest business insurance for hospitality companies?
Here are the cheapest business insurance companies for hospitality firms by coverage type:
- Cheapest general liability insurance: Nationwide at $20 per month
- Cheapest workers' comp insurance: Thimble at $30 per month
- Cheapest professional liability insurance: The Hartford at $65 per month
- Cheapest BOP insurance: Nationwide at $30 per month
What business insurance is required for hospitality organizations?
Workers' compensation insurance (if you have employees) and commercial auto insurance (if you own business vehicles) are legally required for hospitality businesses, with requirements varying by state. While not legally mandated, general liability insurance and surety bonds are effectively required by most commercial clients and property leases.
How much does hospitality business insurance cost?
Business insurance costs for hospitality businesses vary based on your services, location, and guest interaction level. Below are the average monthly costs for commonly needed coverage:
- General liability: $66 per month
- Workers comp: $35 per month
- Professional liability: $73 per month
- BOP insurance: $95 per month
How We Chose the Best Hospitality Business Insurance
We selected the best business insurer for hospitality 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.