Best Commercial Business Insurance Companies
Almost 30% of small businesses lack commercial insurance coverage. To protect your business from accidents and unexpected costs, it’s crucial to find a policy tailored to your specific needs. Investopedia reviewed 17 small business insurance companies and identified the best based on coverage types, policy limits, customer service, and other factors.
Our Top Picks
- The Hartford: Best for Small Businesses
- Thimble: Best for General Liability
- CNA: Best Commercial Property
- Travelers: Best Commercial Auto
- Erie: Best for Construction
The Hartford: Best for Small Businesses
The Hartford offers various coverage options, high liability limits, and handy online tools. Their business owner’s policy (BOP) combines general liability, commercial property, and business income insurance. Small business owners typically pay about $85 a month for a BOP. The Hartford provides up to $4 million in general liability coverage.
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Thimble: Best for General Liability
Thimble is ideal for businesses needing temporary general liability insurance. It offers short-term policies and receives fewer customer complaints than expected. Thimble’s liability policies average $42 a month. However, it’s a broker, not an insurer, and claims are handled by other companies.
CNA: Best Commercial Property
CNA’s commercial property insurance has an excellent customer complaint record. It offers highly customizable policies and covers businesses across various industries. CNA’s BOP includes business income coverage and building ordinance coverage.
Travelers: Best Commercial Auto
Travelers commercial auto insurance receives few customer complaints and offers comprehensive coverage for business equipment in transit. It provides liability coverage amounts of up to $1 million for bodily injury and property damage.
Erie: Best for Construction
Erie is a strong option for construction businesses needing high liability coverage limits and surety bonds. It offers up to $5 million in aggregate general liability protection and $3 million in commercial auto coverage for general contractors.
Why You Should Trust Us
Investopedia has been helping readers find the best business insurance since 2020. Our unbiased reviews are based on thorough research into each insurance company to help you make informed decisions for your business.
Methodology
We researched industry data, company market share, and customer search trends to identify key features and top insurance providers. We evaluated 17 companies across 41 criteria, including financial strength ratings from AM Best and customer satisfaction ratings from J.D. Power’s 2024 Small Commercial Insurance Study.
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