NEXT tops our analysis of North Carolina business insurance providers because of its strong customer service and comprehensive coverage. The Hartford and Simply Business are also reliable options for small business owners across the state.
Business Insurance in North Carolina
NEXT tops our North Carolina business insurance rankings with a MoneyGeek score of 4.64 out of 5.
Find affordable coverage that protects your small business in North Carolina below.
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Updated: August 29, 2025
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Key Takeaways
Small business owners can get the best business insurance in North Carolina from NEXT, The Hartford and Simply Business.
The best business insurance in North Carolina 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 North Carolina
| NEXT | 4.64 | 3 | 1 | 2 |
| The Hartford | 4.59 | 2 | 2 | 3 |
| Simply Business | 4.50 | 3 | 5 | 1 |
| Nationwide | 4.47 | 8 | 2 | 4 |
| Coverdash | 4.42 | 5 | 6 | 2 |
| biBerk | 4.40 | 7 | 2 | 5 |
| Progressive Commercial | 4.32 | 4 | 7 | 5 |
| Thimble | 4.31 | 1 | 8 | 5 |
| Hiscox | 4.28 | 6 | 4 | 6 |
| Chubb | 4.27 | 9 | 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
In North Carolina, NEXT is the best provider for business owner's policies (BOP), professional liability insurance and workers' compensation. If you need general liability coverage. The Hartford offers the best option.
| Business Owners Policy | NEXT | 4.65 |
| General Liability | The Hartford | 4.59 |
| Professional Liability (E&O) | NEXT | 4.74 |
| 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 North Carolina Small Business Insurance Reviews
Our research identified the top three business insurance providers in North Carolina for small business owners. Here's what makes each company stand out when you need comprehensive coverage.
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.5/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$89This 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
$59This 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
The Hartford
Best for Affordability
MoneyGeek Rating
4.6/ of 5
4.5/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$72This 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
$61This 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
4.5/5#1 National RankingOur Survey: Likely to Be Recommended to Others
4.5/5#2 National Ranking
Simply Business
Best for Coverage Availability
MoneyGeek Rating
4.5/ of 5
4.5/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$82This 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
$61This 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
3.7/5National Ranking: 8Our Survey: Likely to Be Recommended to Others
4.2/5National Ranking: 8
Cheapest Business Insurance Companies in North Carolina
The Hartford provides North Carolina's most affordable business insurance at $73 monthly ($881 annually). Small business owners can also find competitive rates with Thimble and Simply Business, offering coverage at $81 and $83 per month respectively. Compare complete pricing details for all providers in the table below.
| The Hartford | $73 | $881 |
| Thimble | $81 | $972 |
| Simply Business | $83 | $994 |
| NEXT | $86 | $1,036 |
| Progressive Commercial | $87 | $1,040 |
| Coverdash | $87 | $1,042 |
| Nationwide | $88 | $1,061 |
| biBerk | $90 | $1,076 |
| Hiscox | $94 | $1,123 |
| Chubb | $102 | $1,222 |
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 North Carolina
North Carolina business owners can find the cheapest general liability coverage through The Hartford at $72 monthly. This rate beats Simply Business, which offers the second-lowest premium at $82 per month. Compare all provider rates in the table below.
| The Hartford | $72 | $861 |
| Simply Business | $82 | $989 |
| Nationwide | $84 | $1,014 |
| Progressive Commercial | $88 | $1,054 |
| NEXT | $89 | $1,068 |
| Coverdash | $89 | $1,069 |
| Thimble | $93 | $1,112 |
| Hiscox | $99 | $1,184 |
| biBerk | $99 | $1,185 |
| Chubb | $102 | $1,229 |
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 North Carolina
The Hartford offers the most affordable professional liability insurance (E&O) in North Carolina at $62 monthly ($745 annually). NEXT provides another budget-friendly option for comprehensive business coverage in the state.
| The Hartford | $62 | $745 |
| NEXT | $63 | $754 |
| Simply Business | $66 | $787 |
| Thimble | $66 | $787 |
| Progressive Commercial | $66 | $789 |
| Hiscox | $67 | $802 |
| Coverdash | $67 | $803 |
| biBerk | $68 | $820 |
| Nationwide | $72 | $860 |
| Chubb | $77 | $923 |
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 North Carolina
NEXT offers the cheapest workers' comp coverage in North Carolina at $59 monthly ($710 annually). The Hartford and Thimble also provide competitive rates, making all three solid choices for North Carolina businesses.
| NEXT | $59 | $710 |
| The Hartford | $61 | $726 |
| Thimble | $61 | $730 |
| Simply Business | $61 | $735 |
| Progressive Commercial | $62 | $742 |
| Hiscox | $62 | $744 |
| Coverdash | $63 | $752 |
| biBerk | $65 | $778 |
| Nationwide | $70 | $845 |
| Chubb | $73 | $876 |
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 North Carolina
The Hartford offers the cheapest BOP rates in North Carolina at $99 per month ($1,191 annually). Other affordable BOP insurance options in the state include Thimble, Simply Business and biBerk.
| The Hartford | $99 | $1,191 |
| Thimble | $105 | $1,258 |
| Simply Business | $122 | $1,467 |
| biBerk | $127 | $1,522 |
| Nationwide | $127 | $1,524 |
| Coverdash | $129 | $1,543 |
| Progressive Commercial | $131 | $1,576 |
| NEXT | $134 | $1,612 |
| Hiscox | $147 | $1,763 |
| Chubb | $155 | $1,860 |
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 North Carolina?
Business insurance in North Carolina costs between $64 to $128 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 | $128 |
| General Liability | $90 |
| Professional Liability (E&O) | $67 |
| Workers Comp | $64 |
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 North Carolina vary widely based on industry and coverage types. Monthly rates range from $5 for workers' compensation insurance for speech therapists to $1,160 for a business owner's policy covering pressure washing businesses.
Data filtered by:Results filtered by:
Select
Coverage Type:Business Owners Policy
Select
Industry:Accountants
| Accountants | Business Owners Policy | $28 |
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?
Want to know why your premiums are so high? We listed several factors that impact your premiums:
Industry Risk Level
Your line of work directly affects your insurance costs. Construction companies pay more because their job sites have higher accident rates than consultants. A construction firm might pay $800 monthly for coverage, while an accounting firm pays just $50 for similar protection levels.
Geographic Location and Weather risks
Your business location affects your insurance rates in North Carolina. Coastal businesses pay more due to hurricane risks, while inland locations get better rates. According to NOAA data, North Carolina ranks fourth nationally for hurricane impacts, with 19 billion-dollar weather disasters since 1980. These risks drive up coverage costs, especially near the coast.
Business Size
Your workforce size directly impacts insurance costs. Workers' comp is calculated per $100 of payroll, while general liability costs reflect your revenue and customer numbers. A retail store with 20 employees pays substantially more than a solo consultant working from home.
Claims History
Insurance claims follow your business for years and can quickly increase your rates. A single liability claim impacts costs across multiple coverage types. Insurers offer better rates to businesses with claim-free records.
Coverage Types and Limits
Your coverage choices shape your premium costs. Higher coverage limits increase rates, but bundling options like business owner's policies can reduce overall costs by combining multiple coverage types into one package.
Years in Business
New businesses start with higher premiums since insurers lack data to evaluate their risk level. Operating claim-free for several years shows insurers you're a reliable customer, often leading to lower rates.
Professional Certifications
Safety certifications and professional licenses can reduce your insurance costs, especially in high-risk industries. OSHA certifications show insurers you prioritize workplace safety, often qualifying your business for premium discounts.
North Carolina Business Insurance Buying Guide
Running your business takes focus, and getting business insurance can feel like one more task on your endless to-do list. Our guide breaks down everything North Carolina business owners need to know about coverage options and requirements.
What Coverage Is Required?
We've researched North Carolina business insurance requirements for you. Check out the detailed breakdown of coverage requirements in the section below.
Workers' Comp
North Carolina requires workers' compensation insurance for most businesses, with one of the strictest enforcement systems in the country. You must carry workers' comp if you have three or more regular employees at the same time. Independent contractors, especially in construction, must have coverage regardless of classification. Corporate officers can opt out if they own at least 10% of the company, and sole proprietors and business partners are exempt unless they choose coverage. The state conducts regular audits and imposes penalties for non-compliance.
Commercial Auto Insurance
Small businesses that own vehicles or require employees to drive for work need commercial auto insurance. North Carolina requires all vehicles to carry at least $30,000 per person and $60,000 for body injuries per accident, plus $25,000 for property damage. The state requires uninsured motorist coverage at the same limits, which protects you if a driver hits you without insurance.
Unemployment Insurance
North Carolina requires unemployment insurance for businesses that pay wages of $1,500 or more in any quarter or employ one or more workers for 20 weeks during a calendar year. You must register with the North Carolina Division of Employment Security and pay quarterly contributions based on your payroll and experience rating.
Professional Liability Insurance
If you hold a professional license in North Carolina for medical, legal, architectural or engineering work, you'll need professional liability insurance. Healthcare providers must carry malpractice coverage with minimum amounts that vary by specialty, while other professionals should check with their licensing boards for specific requirements.
Contractor Bonds and Insurance
You must carry liability insurance and post a surety bond if you have a contractor license. General contractors must carry at least $300,000 in liability coverage and post bonds ranging from $7,500 to $75,000, depending on their license classification. Specialty contractors have varying requirements based on their trade. This protects customers if you don't complete work as promised or follow licensing rules.
What Coverage Do We Recommend?
North Carolina keeps business insurance rules simple, but that means you need to choose your coverage carefully. Our experts have analyzed the best insurance options for the state's leading industries:
Manufacturing | General liability, product liability, workers' compensation, commercial property, business interruption, pharmaceutical manufacturing coverage, hurricane protection, tornado coverage, supply chain interruption | North Carolina manufacturers in pharmaceuticals, textiles, and furniture face hurricane damage, tornado risks, and FDA regulatory violations. Research Triangle pharmaceutical manufacturing requires specialized contamination coverage and clinical trial liability. |
Tech/IT | Professional liability (E&O), cyber liability, general liability, commercial property, intellectual property insurance, directors & officers (D&O), hurricane coverage, research and development coverage | North Carolina tech companies in Research Triangle face cyber attacks, intellectual property disputes, and power outages, affecting data centers. Biotechnology IT work requires specialized coverage for clinical data protection and FDA compliance. |
Construction/Contractor | General liability, workers' compensation, commercial auto, builder's risk, professional liability, hurricane coverage, tornado coverage, flood coverage, coastal construction coverage | North Carolina construction faces hurricane damage, tornado risks, and coastal flooding. Outer Banks construction projects require specialized wind and flood coverage with hurricane-resistant building standards and storm surge protection. |
Food | General liability, product liability, commercial property, equipment breakdown, business interruption, contamination coverage, recall coverage, hurricane coverage, pork processing coverage, sweet potato processing | North Carolina food processors handle pork, poultry, sweet potatoes, and tobacco with contamination risks and hurricane supply chain disruptions. Pork processing requires specialized coverage for disease outbreaks and environmental compliance. |
How to Get the Best Cheap Business Insurance in North Carolina
Getting business insurance in North Carolina can strain your budget when running a small company. Here are practical steps to secure reliable coverage while keeping costs manageable:
- 1
Assess Your Business Risks
Begin by assessing the risks to your North Carolina business operations. A Raleigh restaurant needs strong liability and property coverage, while a Charlotte tech startup should focus on cyber liability and professional coverage.
- 2
Research Multiple Insurance Providers
Insurance costs vary between insurers for the same coverage types. Contact at least three providers specializing in North Carolina business coverage to compare rates and find the most competitive options.
- 3
Evaluate Provider Reputation
Check insurer ratings and reviews from other North Carolina business owners. Focus on companies with strong financial stability and experience serving your specific industry in the state.
- 4
Secure Available Discounts
Combine multiple policies with one carrier for better rates. A Wilmington retail store can save by bundling property and liability coverage, while implementing security systems may qualify for additional discounts.
- 5
Schedule Annual Coverage Reviews
Business needs change with growth and market conditions. A Durham manufacturing company that adds new equipment or expands its workforce should reassess coverage levels yearly to maintain appropriate protection at competitive rates.
North Carolina Business Insurance: Bottom Line
Based on our analysis, NEXT, The Hartford and Simply Business are North Carolina's best business insurance providers. 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 North Carolina: FAQ
Finding the right business insurance in North Carolina raises many questions for small business owners. Below, we answer the most frequently asked questions:
What business insurance is required by law in North Carolina?
North Carolina requires workers' compensation insurance for businesses with three or more employees. Commercial auto insurance is mandatory with minimum limits of $30,000/$60,000/$25,000. Licensed contractors must carry surety bonds and general liability coverage.
How much does business insurance cost in North Carolina?
Our analysis shows that business insurance costs range from $64 to $128 monthly, depending on coverage. Workers' comp is the most affordable at $64, while BOPs cost $128. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in North Carolina?
The Hartford offers the lowest rates at $73 monthly in North Carolina, with Thimble ($81) and Simply Business ($83) following behind. Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in North Carolina?
Begin with general liability insurance to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for company vehicles. Professional service firms need errors and omissions coverage, while retailers require property insurance and cyber protection.
What is the best business insurance company in North Carolina?
NEXT leads business insurance providers in North Carolina, with a MoneyGeek score of 4.64 out of 5. The Hartford and Simply Business round out the top options. Compare insurance providers to help you find the coverage that matches your business needs.
Do small businesses in North Carolina need workers' compensation insurance?
North Carolina requires workers' compensation insurance for businesses with three or more employees. Companies with government contracts must have coverage regardless of employee count.
What factors affect business insurance costs in North Carolina?
Your industry impacts costs most significantly. Construction businesses pay higher premiums than consulting firms. Coastal locations face steeper rates due to hurricane risks. Employee count affects workers' comp costs, while claim history and safety certifications influence rates.
How do I get cheap business insurance in North Carolina?
Compare quotes from top insurers like NEXT, The Hartford and Simply Business. Bundle multiple policies, implement safety programs and evaluate coverage needs carefully to secure better rates.
What's the difference between general liability and errors and omissions (professional liability) insurance in North Carolina?
General liability insurance covers property damage and physical injuries. Professional liability (E&O) covers financial losses from service mistakes or negligence. Service businesses often need both types of coverage.
Can I get business insurance quotes online in North Carolina?
Yes, leading insurance providers offer online quotes in North Carolina. Have your business information ready for accurate estimates. Complex businesses may need agent assistance for specialized coverage.
How We Scored the Best Business Insurance Companies in North Carolina
Small business owners in North Carolina need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help North Carolina entrepreneurs navigate challenges like hurricane risks and the state's workers' compensation requirements.
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 compared premiums across carriers using standardized business profiles, focusing on total cost and payment flexibility.
- Customer experience (30% of score): Our analysis examined claims processing speed, online account features and customer service responsiveness.
- Coverage options (15% of score): We evaluated policy customization options and industry-specific endorsements available to North Carolina businesses.
- Financial strength (5% of score): We assessed each insurer's ability to pay claims using ratings from independent agencies.
This approach helps North Carolina 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 29, 2025.
- Trustpilot. "Simply Business US." Accessed July 25, 2025.