NEXT and The Hartford top our analysis of Montana business insurance providers because of their strong customer service and comprehensive coverage. Simply Business is also a reliable option for small business owners across the state.
Business Insurance in Montana
NEXT and Hartford top our Montana business insurance rankings, both earning a MoneyGeek score of 4.64 out of 5.
Find affordable coverage that protects your small business in Montana below.
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Updated: August 24, 2025
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Key Takeaways
Small business owners can get the best business insurance in Montana from NEXT, The Hartford and Simply Business.
The best business insurance in Montana depends on your industry risks, employee count and preferred 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 Montana
| NEXT | 4.62 | 5 | 1 | 2 |
| The Hartford | 4.62 | 1 | 2 | 3 |
| Simply Business | 4.49 | 4 | 5 | 1 |
| Nationwide | 4.48 | 8 | 2 | 4 |
| Coverdash | 4.42 | 6 | 6 | 2 |
| biBerk | 4.39 | 9 | 2 | 5 |
| Progressive Commercial | 4.34 | 3 | 7 | 5 |
| Thimble | 4.33 | 2 | 8 | 5 |
| Hiscox | 4.28 | 7 | 4 | 6 |
| Chubb | 4.26 | 10 | 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 Montana businesses with the best general liability coverage and business owner's policies (BOP). NEXT offers superior professional liability insurance, while both providers excel in workers' compensation coverage.
| Business Owners Policy | The Hartford | 4.62 |
| General Liability | The Hartford | 4.58 |
| Professional Liability (E&O) | NEXT | 4.73 |
| Workers Compensation | The Hartford | 4.60 |
| Workers Compensation | NEXT | 4.60 |
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 Montana Small Business Insurance Reviews
Our research identified the top three business insurance providers in Montana based on coverage options and value. These companies stand out for their comprehensive protection and specific benefits for small business owners.
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
$103This 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
$69This 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
4.6/ of 5
4.6/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$81This 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
$69This 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
4.5/5Ranked #1 nationallyOur Survey: Likely to Be Recommended to Others
4.5/5Ranked #2 nationally
Cheapest Business Insurance Companies in Montana
The Hartford provides the most affordable business insurance in Montana at $83 monthly ($998 annually). Small business owners can also find competitive rates with Thimble at $93 monthly and Simply Business at $97 monthly. You can compare all available coverage options and their rates in the table below.
| The Hartford | $83 | $998 |
| Thimble | $93 | $1,120 |
| Simply Business | $97 | $1,163 |
| Progressive Commercial | $98 | $1,177 |
| NEXT | $100 | $1,195 |
| Coverdash | $100 | $1,201 |
| Nationwide | $101 | $1,214 |
| biBerk | $104 | $1,243 |
| Hiscox | $107 | $1,282 |
| Chubb | $117 | $1,403 |
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 Montana
Montana business owners can find the cheapest general liability coverage through The Hartford at $81 monthly. This rate beats Simply Business, the second-most affordable option at $95 per month. Compare all provider rates in the table below.
| The Hartford | $81 | $977 |
| Simply Business | $95 | $1,144 |
| Nationwide | $97 | $1,159 |
| Progressive Commercial | $100 | $1,196 |
| NEXT | $103 | $1,231 |
| Coverdash | $103 | $1,235 |
| Thimble | $107 | $1,281 |
| Hiscox | $114 | $1,363 |
| biBerk | $114 | $1,363 |
| Chubb | $118 | $1,420 |
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 Montana
The Hartford offers the most affordable professional liability insurance (E&O) at $70 monthly ($844 annually). NEXT provides another budget-friendly option for Montana business coverage.
| The Hartford | $70 | $844 |
| NEXT | $73 | $870 |
| Thimble | $75 | $896 |
| Progressive Commercial | $75 | $899 |
| Simply Business | $76 | $914 |
| Coverdash | $77 | $919 |
| Hiscox | $77 | $924 |
| biBerk | $79 | $953 |
| Nationwide | $82 | $981 |
| Chubb | $88 | $1,058 |
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 Montana
NEXT offers Montana's cheapest workers' comp rates at $69 monthly ($825 annually). The Hartford and Thimble also provide competitive rates, making all three solid choices for affordable business coverage in the state.
| NEXT | $69 | $825 |
| The Hartford | $69 | $827 |
| Thimble | $70 | $842 |
| Progressive Commercial | $70 | $846 |
| Hiscox | $71 | $848 |
| Simply Business | $71 | $851 |
| Coverdash | $72 | $866 |
| biBerk | $75 | $897 |
| Nationwide | $81 | $966 |
| Chubb | $84 | $1,012 |
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 Montana
The Hartford offers the cheapest BOP rates in Montana, with an average monthly cost of $112 ($1,342 annually). Business owners can also find affordable BOP insurance with Thimble, Simply Business and Nationwide.
| The Hartford | $112 | $1,342 |
| Thimble | $122 | $1,462 |
| Simply Business | $145 | $1,745 |
| Nationwide | $146 | $1,749 |
| biBerk | $147 | $1,759 |
| Progressive Commercial | $147 | $1,769 |
| Coverdash | $149 | $1,784 |
| NEXT | $154 | $1,853 |
| Hiscox | $166 | $1,992 |
| Chubb | $177 | $2,122 |
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 Montana?
Business insurance in Montana costs between $73 to $146 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 | $146 |
| General Liability | $103 |
| Professional Liability (E&O) | $77 |
| Workers Comp | $73 |
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 Montana vary significantly by industry and coverage type. A speech therapist pays just $6 monthly for workers' compensation coverage, while pressure washing businesses pay $1,329 monthly 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 | $33 |
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 Montana business insurance premiums are influenced by several key factors. Here's what drives your costs and what you should know about each:
Industry Risk Level
Your business type affects insurance costs more than any other factor. Because of workplace accident risks, a construction company in Montana faces much higher rates than a consultant. For example, a construction business might pay $500 monthly for coverage, while an accountant pays around $50.
Geographic Location and Weather Risks
Montana's location shapes your insurance costs. According to NOAA data, the state faces severe winters, wildfires and flood risks. These hazards increase property coverage rates, especially in areas prone to wildfire damage or along floodplains.
Business Size
The more employees you have, the more you'll pay. Workers' comp is calculated per $100 of payroll, and general liability considers your revenue and customer volume. A landscaping crew with 10 workers pays far more than someone working alone from home.
Claims History
Previous claims can raise your premiums for years. Filing just one liability claim often increases rates across all your coverage types. Insurance companies offer better rates to businesses that maintain claim-free records and show strong risk management.
Coverage Types and Limits
Your premium reflects the coverage you select and how much protection you want. Higher limits mean higher costs, though business owner's policies can save money by bundling multiple coverages into one package.
Years in Business
New businesses pay higher premiums because insurers can't evaluate their track record yet. Once you've operated for a few years with a clean claims history, your rates drop as you prove yourself a reliable risk.
Professional Certifications
Getting safety training or professional licenses often reduces your premiums, particularly for higher-risk work. OSHA certifications tell insurers you're serious about preventing accidents, and many offer discounts for these credentials.
Montana Business Insurance Buying Guide
Running a business takes endless energy; getting business insurance can feel like one more task on your list. Our guide breaks down the process for Montana business owners into clear, manageable steps.
What Coverage Is Required?
We've researched Montana's business insurance requirements to save you time. Here's what your business must have:
Workers' Comp
Montana requires workers' compensation insurance for most businesses, with some exemptions for small operations. You must carry workers' comp if you have one or more employees, including part-time and seasonal workers. However, Montana allows some flexibility: sole proprietors, business partners and corporate officers can opt out of coverage. Independent contractors are generally exempt unless they're in construction or other high-risk industries. The state also has specific rules for agricultural workers and ranch hands that may require coverage depending on the operation size.
Commercial Auto Insurance
Small businesses that own vehicles or require employees to drive for work need commercial auto insurance. Montana requires all vehicles to carry at least $25,000 per person and $50,000 per accident for bodily injury, plus $20,000 for property damage. Given Montana's rural roads and long distances, businesses should consider higher limits for better financial protection on highways and remote areas.
Unemployment Insurance
Montana requires unemployment insurance for businesses that pay wages of $1,000 or more in any quarter or employ one or more workers for 20 weeks during a calendar year. You must register with the Montana Department of Labor and Industry and pay quarterly contributions. The state has a lower wage threshold than many others, making it easier to trigger coverage requirements.
Professional Liability Insurance
If you hold a professional license in Montana for medical, legal, architectural or engineering work, you'll typically need professional liability insurance. Healthcare providers must carry malpractice coverage, while other professionals should check with their licensing boards for specific requirements. The coverage amounts vary by profession and practice type.
Contractor Bonds and Insurance
If you hold a contractor license in Montana, you'll need to carry liability insurance and may need to post a surety bond depending on your work type. General contractors typically need at least $50,000 in liability coverage and a $10,000 surety bond, while specialty contractors have varying requirements. This protects customers if you don't complete work as promised or follow licensing rules.
What Coverage Do We Recommend?
Montana keeps business insurance requirements minimal, leaving you to make important coverage decisions. Our analysis shows the best insurance options for the state's leading industries:
Excavation | General liability, workers' compensation, commercial auto, equipment coverage, environmental liability, mining support coverage, wildfire coverage, winter shutdown coverage, underground utility damage | Montana excavation companies support mining operations, energy projects, and infrastructure development with environmental liability from disturbing contaminated soils. Wildfire evacuation requirements and extreme winter weather create seasonal operational challenges. |
Manufacturing | General liability, product liability, workers' compensation, commercial property, business interruption, lumber processing coverage, wildfire coverage, winter weather protection, supply chain interruption | Montana manufacturers in lumber, food processing, and equipment face wildfire risks, extreme winter weather, and supply chain disruptions from remote locations. Lumber processing requires specialized fire prevention and environmental liability coverage. |
Trucking | Commercial auto, cargo coverage, general liability, workers' compensation, wildfire evacuation coverage, winter weather coverage, mountain driving coverage, livestock transport, remote location coverage | Montana trucking companies face mountain pass driving hazards, wildfire road closures, and severe winter conditions. Livestock transportation creates specialized liability, while remote locations result in limited emergency response and elevated breakdown risks. |
Tree Service | General liability, workers' compensation, commercial auto, equipment coverage, wildfire prevention coverage, power line coverage, emergency response coverage, defensible space liability, forest management | Montana tree services face increased demand for wildfire prevention and post-fire cleanup work. Defensible space clearing and forest management create specialized liability, while emergency tree removal during wildfire season creates elevated risks from power lines and evacuations. |
How to Get the Best Cheap Business Insurance in Montana
Small business owners in Montana often struggle to find the right insurance coverage at reasonable rates. Here are practical steps to secure reliable protection while keeping your business insurance costs under control:
- 1
Assess Your Actual Risks First
Review your business operations to identify real risks specific to Montana. A Bozeman retail store needs coverage different from that of a Billings construction company, so focus on your actual exposure rather than generic recommendations.
- 2
Get Quotes from Multiple Insurers
Contact at least three insurance providers that serve Montana businesses. Local insurers often understand Montana's risks better and may offer more competitive rates than national carriers.
- 3
Choose Providers Based on Service Quality
Research each insurer's Montana claims history and financial strength ratings. A provider familiar with Montana's seasonal business cycles and natural disaster risks can offer better support when you need it most.
- 4
Maximize Every Discount
Bundle your property and liability coverage with one carrier for better rates. Many Montana insurers offer additional discounts for safety certifications and claim-free histories.
- 5
Review Coverage Annually
Reassess your coverage needs each year as your Montana business evolves. A growing Helena retailer expanding to multiple locations needs different coverage than when they started with one shop.
Montana Business Insurance: Bottom Line
Based on our analysis, NEXT, The Hartford and Simply Business are Montana's best business insurance providers. However, what's ideal 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 Montana: FAQ
Small business owners in Montana often have questions about choosing the right business insurance. Here are answers to the most common questions:
What business insurance is required by law in Montana?
Montana law requires workers' compensation insurance for businesses with employees. Commercial auto insurance is mandatory for business vehicles with minimum limits of $25,000/$50,000/$20,000. Contractors must carry surety bonds.
How much does business insurance cost in Montana?
Business insurance costs in Montana range from $73 to $146 monthly. Workers' compensation is the least expensive at $73, while business owner's policies cost $146. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Montana?
The Hartford offers the lowest rates at $83 monthly in Montana, with Thimble ($93) and Simply Business ($97) following behind. Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in Montana?
Begin 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 builder's risk and equipment insurance.
What is the best business insurance company in Montana?
NEXT and The Hartford tie as the best business insurance companies in Montana, both with MoneyGeek scores of 4.62. Simply Business and Nationwide round out the top choices.
We recommend comparing multiple insurance providers to find coverage matching your business requirements.
Do small businesses in Montana need workers' compensation insurance?
Yes, workers' compensation insurance is required for most Montana businesses with employees. Without coverage, businesses lose legal protection and risk costly injury lawsuits that could lead to bankruptcy.
What factors affect business insurance costs in Montana?
Your industry has the biggest impact on costs. Construction businesses pay higher premiums than retail stores. Location within Montana affects rates, with areas prone to severe weather costing more. Employee count drives workers' compensation expenses, while claim history and safety measures influence rates.
How do I get cheap business insurance in Montana?
Start by evaluating your specific business risks. Compare quotes from top insurers like The Hartford and NEXT. Bundle coverage options and maintain good safety practices to qualify for discounts.
What's the difference between general liability and errors and omissions (professional liability) insurance in Montana?
General liability covers physical incidents like customer injuries and property damage at your business location. Professional liability protects against service-related mistakes, including missed deadlines and incorrect professional advice.
Can I get business insurance quotes online in Montana?
Yes, online quotes are available from all major business insurance providers in Montana. Keep your business information handy for accurate quotes, though complex businesses may require agent assistance.
How We Scored the Best Business Insurance Companies in Montana
Small business owners in Montana need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Montana entrepreneurs navigate challenges like wildfire risks and the state's 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 total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We compare premiums across carriers using identical business profiles and coverage levels to identify the most cost-effective options for Montana businesses.
- Customer experience (30% of score): Our analysis of claims processing, customer service responsiveness and digital tools helps identify insurers that make coverage easy to manage.
- Coverage options (15% of score): We evaluate policy customization options, industry-specific endorsements and coverage limits to find insurers that match Montana business needs.
- Financial strength (5% of score): We assess each insurer's ability to pay claims using ratings from independent agencies.
This approach helps Montana 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
- NEXT. "NEXT Empowers Agents with Enhanced Products, Cutting-Edge Digital Tools, Opening New Revenue Opportunities and Sparking Momentum in Small Business Insurance." Accessed July 25, 2025.
- Simply Business. "Simply Business Offers Insurance to Third-Party Sellers Through Amazon Insurance Accelerator." Accessed July 25, 2025.
- The Hartford. "Customer Claims Ratings and Reviews." Accessed July 25, 2025.
- Trustpilot. "NEXT." Accessed July 25, 2025.
- Trustpilot. "Simply Business US." Accessed July 25, 2025.
- Trustpilot. "The Hartford." Accessed July 25, 2025.