Best business insurance providers: coverage for small businesses and gig workers

Last reviewed: . We re-check this page against our ranking criteria rather than refreshing a date.

Search for the top rated business insurance providers and the lists disagree, because a two-person consultancy, a restaurant and a contractor need different things and no carrier is best at all three. What follows is a pick for each situation: what each carrier is structurally built for, and who should look elsewhere.

This page is written by a licensed insurance producer in California. It is educational. It is not a recommendation to buy any specific policy, and Insightful Coverage is an independent publisher rather than an agency, broker, or carrier.

Not sure which of these apply to you? The business insurance checklist asks five questions and returns a shortlist of the policies your situation actually calls for.

How we chose these carriers

There is no scoring formula behind this page, and inventing one would imply a precision we do not have. The carriers below were selected on four things that can be checked rather than felt.

  • Who carries the risk. Whether the company sells its own paper or places your policy with someone else. Three of the names below are agencies rather than the insurer, which their own disclosures state, and we say so in each case.
  • Range of business classifications. Whether a carrier will quote your trade at all, which is the first thing that stops most small businesses.
  • How the policy is bought and serviced. Online end to end, through an agent, or a mix, because that decides who you speak to when something goes wrong.
  • Financial strength, checked at the source. We do not print a grade that will quietly go out of date. AM Best publishes current ratings and the link is at the foot of this page.

Which Carrier is Right for You?

The Selection Framework

  • Need it fast? Go with Next Insurance or Thimble.
  • Need it cheap? Compare on Simply Business or check The Hartford.
  • Need complex coverage? Choose Chubb or Philadelphia Insurance.
  • Have a fleet of vans? Progressive Commercial is your best bet.

How did we choose these? Read how we rank insurance companies — our criteria, the primary sources behind our recommendations, and how this site makes money.

The national carriers, and what each is built for

The Hartford: breadth across industry classifications

The Hartford has underwritten small commercial risks for well over a century and writes across a wide range of industry classifications, which is the practical reason it suits businesses that do not fit a narrow category.

  • What it is structurally good at: breadth. It will quote industries that specialist carriers decline, and it writes general liability and business owner’s policies as a package rather than pushing you to assemble one.
  • Best for: General liability, Business Owner’s Policies (BOP), and home-based businesses across a wide range of industry classifications.
  • Financial strength: check the current grade at AM Best.
  • Note: Its processes carry the friction typical of large, long-established institutions, which is the trade for that breadth.

Next: an agency with a fast online process

Next sells and services almost entirely online, with no agent conversation required. It is worth knowing exactly what you are buying from: Next states that it “is an insurance agency licensed to sell certain insurance products” and that “policy obligations are the sole responsibility of the issuing insurance company.” It is now part of the ERGO group.

  • Why it ranks high: Issues certificates of insurance immediately online, which matters when a client or a landlord wants proof of cover the same day. It quotes a wide range of business classifications and offers flexible payment schedules.
  • Best for: Startups, sole proprietors, and those who would rather complete the purchase online than have a conversation.
  • Financial strength: check the current grade at AM Best.
  • Caution: ask which company will actually issue the policy, and get the renewal terms in writing before you buy.

Allstate: a referral route to NEXT rather than its own commercial paper

Allstate is on this list with a caveat that its own site makes plainly. Allstate states that “certain commercial policies are provided by NEXT Insurance US Company or its ERGO NEXT affiliates,” and that ERGO NEXT “is not affiliated with Allstate.” So for commercial cover, Allstate may be a referral route to the same company listed above rather than a separate option, and Allstate’s own claims reputation — earned on personal lines — is not necessarily what you would be relying on.

  • Why it ranks here: It places business through a network of independent agents, so the service you get depends heavily on the agent rather than on a call centre. Complaint records are searchable by company and state at the NAIC Consumer Information Source.
  • Best for: Businesses prioritizing claims quality and agent-based relationships.
  • Financial strength: check the current grade at AM Best.

Chubb: complex and higher-hazard risks

Chubb is the global leader in underwriting complex risks that standard “off-the-shelf” policies can’t handle.

  • Why it leads this segment: They handle heavy industries like construction, manufacturing, and healthcare with precision. Notably, they cover 93% of cyber incident claims for their clients.
  • Best for: Contractors, medical practices, and businesses needing high-limit umbrella or D&O (Directors and Officers) insurance.
  • Financial strength: check the current grade at AM Best. Chubb writes complex and high-value commercial risks that many carriers decline.

Simply Business: a licensed agency that compares quotes for you

Simply Business operates as a digital broker rather than an underwriter, allowing you to compare over 40 carriers simultaneously.

  • Why it ranks: It forces competition among insurers, often resulting in better pricing for the consumer without needing to speak to multiple agents.
  • Best for: Price-sensitive owners who want a transparent marketplace comparison.
  • Model: Broker/Aggregator.

Hiscox: professional services and small consultancies

Hiscox specializes in “white-collar” risks, providing tailored coverage for consultants and IT professionals.

  • Why it ranks: They are specialists in Errors & Omissions (E&O) and professional indemnity.
  • Best for: Lawyers, accountants, and consultants who need specific professional liability protection.
  • Note: Pricing tends to be higher than online-only competitors like Next or Thimble.

Niche & Specialist Carriers

  • Thimble — sells by the hour, day or project rather than the year. Genuinely useful if you need proof of coverage for a single job and nothing else. Not the answer if you operate continuously.
  • Bunker — built around certificate-of-insurance verification, which is the administrative problem contractors actually have when a client demands proof before releasing work.
  • State Farm — a very wide range of industry-specific policies, sold through local agents. Suits you if you want someone local who knows your trade.
  • Liberty Mutual — strong on risk management support, including free virtual safety resources, which matters more than premium once you have employees.
  • Philadelphia Insurance (PHLY) — a digital business owner’s policy, straightforward to buy without an agent.
  • Nationwide — carries less common coverages such as accounts receivable and crime, which are easy to overlook until you need them.
  • Progressive — the dominant name in commercial auto. If vehicles are central to your business, quote them first.

Brokers, direct carriers and online platforms

Commercial cover is still bought three ways, and the route matters more than the brand on the policy. You can go direct to a carrier, work through an independent agent or broker who can market your risk to several, or use an online-first platform that quotes and binds in one session. Which suits you depends on how unusual your risk is, not on which channel is newest.

  • Online-first underwriters compete on speed and a narrow appetite. They are built to quote a defined set of low-complexity trades quickly. Step outside that appetite — a commercial kitchen, a contractor working at height, anything carrying a professional liability tail — and a broker who can take the risk to market is worth the slower process.
  • Your classification code is often the single biggest lever on price. How the insurer classifies your business for general liability and workers’ compensation drives the rate, and a misclassification quietly overcharges you for years. Ask which class code you have been placed in, and why that one.
  • Renewal is where the money moves. Commercial policies are re-rated every year against loss history, payroll and revenue, so a premium can rise without anything about your business changing. That is the moment to re-shop, and it is the moment most owners let pass.
  • Admitted and non-admitted are not the same protection. An admitted carrier is backed by the state guaranty fund if it fails; a surplus lines carrier is not, which is the trade for writing risks nobody else will. Worth knowing which one you are being placed with before you sign.

Common questions about business insurance

Do I need general liability or a business owner’s policy?

A business owner’s policy bundles general liability with commercial property cover, usually at less than the two bought separately. If you hold stock, equipment or a premises, the bundle is normally the sensible starting point. If you are a consultant working from a laptop with nothing much to insure, standalone general liability may be all you need.

Does general liability cover mistakes in my work?

No, and this is the gap that catches out professional services most often. General liability covers bodily injury and damage to someone else’s property. Being sued because your advice, design or filing was wrong is professional liability, sometimes called errors and omissions, and it is a separate policy.

Do I need workers’ compensation if I have no employees?

Requirements are set by each state rather than nationally, and in most states a sole proprietor with no employees is not required to carry it. The complication is that contractors and subcontractors are often required to show a certificate before they can be hired, so it can be a condition of winning work rather than a legal duty. Check your own state’s rule with its insurance department.

Does my homeowners policy cover a business run from home?

Generally not in any useful way. A standard homeowners policy limits cover for business property severely and will usually not respond at all to a client injured at your home or to a claim arising from the work itself. If the business is more than occasional, ask about a business endorsement or a separate policy.

How much does business insurance cost?

There is no useful average, because the price is driven by your industry classification, your revenue, your payroll, your claims history and the limits you choose. A quote for a two-person consultancy and one for a roofing contractor are not comparable figures. Get quotes on your own details from more than one carrier, and compare the limits and exclusions before comparing the prices.

Check the sources yourself

We are an independent publisher, not an insurance agency, broker or carrier, and you should not have to take our word for anything. These are the primary sources behind our recommendations. All are free to search, and all are more current than any article can be.