The Hartford earned our top spot for the best small business insurer for nonprofit companies due to its excellent customer service and comprehensive coverage. However, we recommend comparing quotes from our other top picks, including NEXT, biBerk and Simply Business.
Best Nonprofit Business Insurance
Our research shows that The Hartford, NEXT and biBerk offer the best and cheapest business insurance for nonprofit organizations.
Discover affordable business insurance for nonprofit companies below.
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Updated: August 11, 2025
Advertising & Editorial Disclosure
Key Takeaways
The Hartford is the best business insurance company for nonprofit firms because it offers the greatest balance of customer service and coverage.
The cheapest overall commercial insurance provider for nonprofit businesses is biBERK, with low monthly rates for various coverage types.
To shop for business insurance for your nonprofit business, assess the risks in your industry, consult agents and other similar organizations, and compare multiple options.
Best Business Insurance for Nonprofit Companies
| The Hartford | 95 | 97 | 91 |
| NEXT Insurance | 94 | 94 | 94 |
| biBERK | 94 | 98 | 91 |
| Simply Business | 89 | 88 | 83 |
| Nationwide | 88 | 83 | 91 |
| Progressive Commercial | 86 | 87 | 81 |
| Coverdash | 86 | 83 | 83 |
| Hiscox | 86 | 86 | 87 |
| Chubb | 85 | 80 | 87 |
| Thimble | 84 | 84 | 81 |
*All scores were based on a nonprofit business with two employees across professional liability, general liability, workers' comp and BOP policies.
1. The Hartford
pros
Lowest professional liability insurance rates
Extensive experience with over 200 years in the industry
Highest financial stability ratings
cons
Less affordable for workers' comp policies
COMPANY HIGHLIGHTS
The Hartford has secured the top position in our nonprofit organization insurance rankings, leveraging its impressive two-century track record in the insurance sector. The company stands out with the second most affordable rates overall across coverage types, while delivering the market's cheapest professional liability insurance at just $45 monthly.
The Hartford's commitment to customer satisfaction is reflected in top-tier ratings from over 10,000 policyholders spanning various industries and coverage categories. Additionally, the company's A+ from AM Best, the highest in our analysis, ensures nonprofit organizations can rely on prompt and dependable claims processing when coverage is needed.
2. NEXT
pros
Best customer service experience
Reasonable rates for most coverage types
Large coverage selection
cons
Slower quote times than competition
Lower financial stability ratings
COMPANY HIGHLIGHTS
NEXT earned the second-best spot for nonprofit business insurance, with a balance of competitive rates and the best overall customer service scores in our analysis, earning a 4.7 out of 5.0 from over 3,000 customers. It ranks third overall for affordability, with rates for general liability insurance starting at $32 monthly.
3. biBerk
pros
Most affordable overall for nonprofits
Good financial stability ratings
Convenient online process
cons
Online-only customer support with no phone representatives
Fewer coverage options than other insurers
COMPANY HIGHLIGHTS
biBerk has positioned itself as a solid choice in the nonprofit insurance market by offering accessible coverage solutions tailored to charitable organizations. The company provides competitive rates for essential protections like general liability and directors & officers insurance, helping nonprofits secure coverage against risks associated with volunteer management, fundraising and community services.
biBerk's streamlined digital platform appeals to nonprofit administrators who value efficient processes and transparent pricing, making it an attractive choice for organizations seeking reliable insurance without administrative complexity.
Cheapest Business Insurance for Nonprofit Firms
Based on our study of business insurance pricing, biBerk offers competitive commercial insurance rates for nonprofit companies, winning two of the four major coverage types we analyzed. But this applies only to nonprofit 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 Nonprofit Companies
With an average monthly rate of $26, biBerk offers the lowest-cost general liability insurance for nonprofit companies. Even so, consider getting quotes from the next-most-affordable insurers: The Hartford and NEXT.
| biBERK | $26 | $316 |
| The Hartford | $31 | $376 |
| NEXT Insurance | $32 | $378 |
| Simply Business | $36 | $436 |
| Hiscox | $38 | $457 |
| Progressive Commercial | $38 | $452 |
| Nationwide | $39 | $465 |
| Thimble | $40 | $483 |
| Coverdash | $42 | $500 |
| Chubb | $43 | $514 |
Cheapest Workers' Comp Insurance for Nonprofit Companies
Thimble offers the lowest-priced workers' comp insurance for nonprofit companies, with typical rates starting at $14 monthly or $163 annually. Still, it’s worth checking quotes from other low-cost insurers like Progressive Commercial, Simply Business, Hiscox and The Hartford.
| Thimble | $14 | $163 |
| Hiscox | $15 | $182 |
| Progressive Commercial | $15 | $176 |
| Simply Business | $15 | $182 |
| The Hartford | $15 | $185 |
| biBERK | $16 | $192 |
| Coverdash | $16 | $187 |
| NEXT Insurance | $16 | $190 |
| Nationwide | $17 | $205 |
| Chubb | $18 | $220 |
Cheapest Professional Liability Insurance for Nonprofit Companies
The Hartford offers the most affordable professional liability insurance options for nonprofit companies, with low average monthly rates of $45. You may also want to compare prices from other low-cost providers like NEXT, Progressive Commercial and Thimble.
| The Hartford | $45 | $536 |
| NEXT Insurance | $47 | $566 |
| Progressive Commercial | $48 | $576 |
| Thimble | $49 | $592 |
| Coverdash | $50 | $604 |
| Hiscox | $50 | $600 |
| Simply Business | $50 | $601 |
| biBERK | $52 | $625 |
| Nationwide | $54 | $649 |
| Chubb | $59 | $702 |
Cheapest BOP Insurance for Nonprofit Companies
biBerk provides the most affordable business owner's policy (BOP) coverage for nonprofit companies, with an average yearly cost of $411 for bundled general liability and property protection. That’s a savings of roughly $65 annually compared to The Hartford, the second most affordable option.
| biBERK | $34 | $411 |
| The Hartford | $40 | $476 |
| NEXT Insurance | $46 | $551 |
| Simply Business | $54 | $654 |
| Progressive Commercial | $57 | $681 |
| Hiscox | $58 | $690 |
| Nationwide | $58 | $700 |
| Coverdash | $60 | $725 |
| Thimble | $63 | $752 |
| Chubb | $64 | $769 |
What Type of Coverage Do You Need for a Nonprofit 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. Some industries also require surety bonds, particularly when contracts need service guarantees or compliance assurance.
RECOMMENDED NONPROFIT BUSINESS COVERAGE
General liability insurance is strongly recommended for nonprofit 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.
Coverage Recommendations by Nonprofit Company Type
We've outlined a list of nonprofit service categories, ranked from highest to lowest risk in terms of claims frequency and liability exposure. This breakdown helps nonprofits understand their insurance needs and consider broader coverage if they are in higher-risk categories.
Nonprofit Company Type | Coverage Types Recommendation | Most Common Insurance Claims | Most Common Reasons For Litigation |
|---|---|---|---|
Youth/Children's Organizations | General Liability, Sexual Abuse/Molestation Coverage, Directors & Officers, Commercial Property, Workers' Comp, Commercial Auto, Volunteer Accident, Background Check Coverage, Umbrella Policy ($3M+) | Child injury accidents during activities, sexual abuse allegations, volunteer-related incidents, slip/fall accidents at facilities, property damage from events, transportation accidents | Sexual abuse lawsuits and class actions, negligent supervision claims, discrimination in youth programs, mandatory reporting violations, volunteer screening negligence, facility safety violations |
Religious Organizations | General Liability, Sexual Abuse/Molestation Coverage, Directors & Officers, Commercial Property, Workers' Comp, Employment Practices Liability, Volunteer Accident, Pastoral Counseling Liability, Umbrella Policy ($2M+) | Slip/fall accidents during services, property damage from events, sexual misconduct allegations, employment disputes with staff, volunteer injuries, counseling malpractice claims | Sexual abuse/misconduct lawsuits, employment discrimination claims, pastoral counseling malpractice, property disputes, volunteer injury lawsuits, religious discrimination allegations |
Healthcare/Medical Nonprofits | General Liability, Professional Liability, Directors & Officers, Cyber Liability, Commercial Property, Workers' Comp, Medical Malpractice, HIPAA Breach Coverage, Volunteer Professional Liability, Umbrella Policy ($5M+) | Medical malpractice claims, HIPAA data breaches, patient injury accidents, volunteer medical professional errors, cyber attacks on health records, employment disputes | Medical malpractice lawsuits, HIPAA violation class actions, patient care negligence claims, volunteer professional liability suits, cyber breach litigation affecting health data, regulatory violations |
Educational/Scholarship Organizations | General Liability, Directors & Officers, Professional Liability, Cyber Liability, Commercial Property, Workers' Comp, Student Accident, Employment Practices Liability, Umbrella Policy ($2M+) | Student injury accidents, discrimination in program selection, cyber breaches of student data, employment disputes, property damage during educational events, volunteer-related incidents | Educational malpractice claims, scholarship discrimination lawsuits, student injury negligence suits, cyber breach class actions, employment discrimination claims, Title IX violations |
Social Services/Homeless Shelters | General Liability, Professional Liability, Directors & Officers, Commercial Property, Workers' Comp, Volunteer Accident, Client Assault Coverage, Property in Care/Custody, Umbrella Policy ($3M+) | Client-on-client violence, staff injury from aggressive clients, property damage from clients, theft of client belongings, slip/fall accidents, volunteer injuries during service | Negligent supervision of vulnerable populations, civil rights violations, discrimination in services, inadequate security lawsuits, wrongful death claims, regulatory compliance violations |
Arts/Cultural Organizations | General Liability, Directors & Officers, Commercial Property, Fine Arts Coverage, Workers' Comp, Volunteer Accident, Event Liability, Cyber Liability, Umbrella Policy ($2M+) | Visitor injury accidents, damage to artwork/exhibits, event-related incidents, volunteer injuries, theft of valuable collections, cyber breaches of donor data | Slip/fall lawsuits at events, artwork damage claims, intellectual property disputes, volunteer injury suits, discrimination in programming, cyber breach affecting donor information |
How to Get the Best Cheap Business Insurance for Your Nonprofit Company
Here's a step-by-step guide to find the best and cheapest business insurance for your nonprofit 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
Research average costs for your business profile and find which providers offer the cheapest rates overall. This will give you a benchmark for how much you're saving when comparing quotes and which companies to start with.
- 3
Look into company reputations and coverage options
Narrow your list by researching what customers say on rating sites and forums to get a better look at company services. Research coverage options to match your current and future needs so you're covered for the right situations.
- 4
Compare multiple quotes through different means
Compare multiple quotes for identical coverage to find the best deal. 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 Nonprofit Business's Liability Risk
Reducing risk helps nonprofits minimize liability claims and manage insurance costs. We've organized risk mitigation strategies by nonprofit business type to help you implement the most suitable measures for your organization.
Nonprofit Business Risk Type | Included Types of Nonprofit Businesses | Risk Mitigation Tactics |
|---|---|---|
Highest | International aid/disaster relief, residential care facilities, medical/healthcare nonprofits, youth overnight programs, transportation services for vulnerable populations, adoption agencies |
|
Moderately high | Educational programs with minors, community outreach services, large event coordination, volunteer management programs, grant-funded research, advocacy organizations |
|
Moderate | Community centers, religious organizations, small educational nonprofits, arts/cultural organizations, environmental groups, animal welfare organizations |
|
Moderately low | Membership organizations, professional associations, advocacy groups, small foundations, volunteer coordination groups, community advisory boards |
|
Lowest | Nonprofit consulting, charitable giving advice, foundation management, nonprofit education/training, research and policy analysis |
|
Best Insurance for Nonprofit Business: Bottom Line
The Hartford is the best insurer for nonprofit business insurance, while biBerk offers the cheapest option overall. We also recommend getting quotes from NEXT, Simply Business and Progressive Commercial. For the best deal, talk to agents, research providers and pricing, and compare multiple quotes side by side.
Nonprofit Business Insurance: FAQ
Below, we answer common questions about nonprofit business insurance.
Who offers the best nonprofit business insurance overall?
The Hartford offers the best business insurance for nonprofit organizations with a MoneyGeek score of 95 out of 100, excelling in customer service categories. NEXT is a close second.
Who has the cheapest business insurance for nonprofit companies?
Here are the cheapest business insurance companies for nonprofit companies by coverage type:
- Cheapest general liability insurance: biBerk at $26 monthly
- Cheapest workers' comp insurance: Thimble at $14 monthly
- Cheapest professional liability insurance: The Hartford at $45 monthly
- Cheapest BOP insurance: biBerk at $34 monthly
What business insurance is required for nonprofit organizations?
Workers' compensation insurance (if you have employees) and commercial auto insurance (if you own business vehicles) are legally required for nonprofit organizations, 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 nonprofit business insurance cost?
Business insurance costs for nonprofit businesses vary depending on the type of coverage. Below we've broken down costs for commonly needed coverage of small businesses:
- General liability: $37 per month
- Workers comp: $16 per month
- Professional liability: $50 per month
- BOP insurance: $53 per month
How We Chose the Best Nonprofit Business Insurance
We selected the best business insurer for nonprofit 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.
sources
- AM Best. "Hartford Fire Insurance Company." Accessed June 16, 2025.
- NEXT. "Customer Reviews." Accessed June 16, 2025.