Best Small Business Insurance in 2025
- The Hartford offers the best coverage for your small business.
- Small business insurance covers general liability, commercial property, cyber insurance, and more.
- The Zebra is here to help, and Bold Penguin is here to compare insurance companies for your small business.
Best business insurance companies
Protecting your small business starts with the right insurance—but not all policies are created equal. While The Zebra recommends The Hartford for most business types, we know one-size-fits-all doesn’t cut it. Read on to learn all about the top business insurance companies in 2025. We’ve done the searching—so you can do the saving.
The Hartford
The Hartford offers customizable coverage options, a positive reputation, and robust online capabilities.
Chubb
Chubb's Business Owner's Policy includes coverages not typically found with other providers.
Next
Business insurance is Next's sole product, allowing for customizable policies to suit unique needs.
Business insurance protects your business—not just your personal assets—from accidents, lawsuits, natural disasters, and other unexpected events. While your business structure can shield your personal finances, insurance safeguards what you've built professionally.
In many cases, certain types of coverage are required. For example, if you have employees, the federal government mandates disability, unemployment, and workers’ compensation insurance (except in Texas). States may have their own additional requirements.
How to choose the right small business insurance company
- Understand which coverage is required by law: Typically, coverages like workers' compensation are legally mandatory. Check out if there are any other required coverages set by your state legislature or industry that you would need to carry.
- Determine the coverage your business needs: In addition to the required coverages, its important to evaluate your industry's risk and take stock of your equipment, assets and other components essential to your company. Does the insurance company offer everything you need?
- Look at the insurance company's financial strength: This is a great way to understand the insurance company's capability and reliability in paying out claims.
- Get quotes or speak to an agent: If you still need more guidance in planning your small business insurance policy, contact a licensed commercial insurance agent. Or, compare quotes from several companies to get an idea of cost.
It depends on your business type and size, as well as your state’s requirements. A good starting point is a Business Owner’s Policy (BOP), which bundles general liability and property insurance. This combo gives you broader protection and can save you money compared to buying each policy separately.
However, some businesses may need more than a BOP. And even if certain coverage isn’t legally required, it could be essential for keeping your business running long-term.
Types of small business insurance
There are many types of coverage available. Some of these are specific to certain types of businesses, while others are more broad and applicable to a wide array of business owners. Below are some of the more common options offered by insurance companies to serve the unique needs of your small business.
| Insurance Type | Who Needs It | What It Covers |
|---|---|---|
| General Liability | All businesses | Third-party injury, damage, legal costs |
| Professional Liability | Consultants, freelancers | Professional mistakes or negligence |
| Commercial Property | Brick-and-mortar businesses | Fire, theft, weather damage to owned property |
| Business Owner's Policy | Small-medium businesses | Combines property + liability coverage |
| Workers' Compensation | Companies with employees | Employee injuries and medical bills |
| Commercial Auto | Businesses with vehicles | Accidents, damage, liability involving work cars |
| Cyber liability | Tech-heavy businesses | Hacking, data loss, identity theft |
| Business Umbrella insurance | High-risk or high-liability-exposure businesses | Covers claims that exceed underlying |
| Business Interruption | Product-based or location-dependent businesses | Lost income, payroll, taxes, and lease/mortgage costs during operational downtime |
"Also known as business income insurance, business interruption insurance is optional coverage that 30-40% of small to medium size enterprises carry," says the Insurance Information Institute's Mark Friedlander.
Business interruption insurance helps cover lost income when a covered event disrupts your operations[1]. It's typically included in a commercial property or business owners policy, but only applies if the cause of loss is covered under that policy.
Top business insurance companies
Most of the big players in the insurance industry offer small business insurance products alongside more common lines like auto and home; some companies specialize in business insurance alone. Let's take a look at some of our top picks:
The Hartford: Best overall
★★★★★
✔️ Customizable BOP options
✔️ BOP includes data breach and professional liability coverage
✔️ Online policy management available
✔️ Get quotes online
🚫 Must call to bundle policies
Chubb: Best for BOP
★★★★☆
✔️ BOP includes business interruption coverage, which is rare for this type of policy.
✔️ Chubb covers businesses with up to $30 million in annual revenue.
✔️ They manage policies and claims directly.
🚫 Online quotes are only available for businesses making under $1 million per year.
Hiscox: Best for broad coverage needs
★★★☆☆
✔️ Hiscox specializes in small business insurance.
✔️ You can get online quotes for general liability, professional liability, and BOP.
🚫 Commercial property coverage is only included within a BOP—not sold separately.
🚫 Other coverages like workers’ comp and malpractice come from partner providers
Next: Best for online servicing
★★★★☆
✔️ NEXT focuses exclusively on small business insurance.
✔️ Offers coverage for unique needs like liquor liability, tools, and product liability.
✔️ Customizable bundles with a 10% discount for multiple policies.
✔️ Fast online claims and instant digital proof of coverage.
🚫 Doesn’t offer highly specialized business insurance types.
Progressive: Best for commercial auto
★★★★☆
✔️ Progressive underwrites and manages its own commercial auto policies.
✔️ Covers a wide range of business vehicles like cars, trucks, and buses.
✔️ All auto claims are handled directly by Progressive.
🚫 Other business insurance (like BOP or liability) is underwritten by partners—claims go through them, not Progressive.
Travelers: Best for agent interaction
★★★☆☆
✔️ Known for affordable business insurance rates
✔️ Offers a wide range of policy types
✔️ Work directly with a licensed insurance agent
🚫 No online quotes or policy purchases available
How much does small business insurance cost?
The size and scale of your business will determine how much you pay for small business insurance. However, Progressive notes the average cost of general business liability coverage sold through the Progressive Advantage Agency in 2022 was $72 per month[2].
Several factors go into determining how much you’ll pay for small business insurance, including the following:
- Number of employees
- Type of industry
- Physical property type and location
- Business assets and equipment covered
- Coverage needs
More on business insurance
Commercial Auto Insurance | The Zebra
Commercial auto policies provide liability and physical damage coverage for business-use vehicles. Read our guide to find out more about the different coverages available for your business vehicle.
Business Owners Policy Coverage Guide
A business owners policy (BOP) can provide general liability and property coverage in one convenient package. Find out if it's enough coverage for your small business with our handy guide.
What Is Umbrella Insurance For Business? | The Zebra
Protect your business from costly claims with commercial umbrella insurance. Learn how it extends coverage, fills gaps, and boosts your BOP protection.
How to save on small business insurance
Small business insurance can be costly, but there are smart ways to save:
Bundling key coverages into a Business Owner’s Policy is often cheaper than buying them separately.
Higher deductibles typically mean lower premiums.
An insurance broker can help tailor coverage to your needs and budget.
Ask your insurer about loss-prevention tips—meeting certain criteria could earn you discounts.
Compare small business insurance quotes with Bold Penguin
Insurance rates change yearly, so it pays to shop around. Comparing quotes helps ensure you’re getting the best deal.
Platforms like Bold Penguin, our partner and commercial insurance specialist, make it easy by showing customized quotes from multiple insurers—just like The Zebra does for personal coverage. Get started with a quote today.
Frequently asked questions: Small business insurance
About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.