Accidents happen all the time, and business owners need to be protected in the event of an accident at work; especially since the average claim for a personal injury insurance policy is $ 35,000. After all, not having the right kind of small business insurance can be the same as not having any at all; leaving businesses with no protection against many types of losses.
We have compared more than a dozen of the country’s leading insurance companies; — and a few consumers — based on the types of cover they offer, the industries they operate; their financial sustainability ratings, and customer satisfaction to identify those that best meet the needs. for small businesses.
State Farm was founded in 1922 by G.J. Mecherle, a retired farmer and insurance salesman. Although best known for car and home insurance. State Farm has about 100 products that include financial services, banking, and commercial insurance. It has an A ++ rating of financial stability from AM Best.2
State Farm sells insurance in many provinces and offers policies designed for each stage of the company’s growth cycle including general debt; professional debt, and other types of coverage that can be added to policies to suit individual needs. State Farm also offers business insurance specifically designed for specific industries such as contractors, technical services, restaurants, and retailers.
In addition to business coverage, State Farm offers discounts to policyholders who cover certain types of coverage; although discounts vary depending on the types of coverage covered. Discounts are not for business integration. However, if you are happy with your State Farm business; you can get home and auto coverage from them and save.
Hiscox was founded in 1901 as a sub-market writer for Lloyd. business headquarters. is located in Atlanta; Georgia and operates 10 offices nationwide. So, Hiscox does business in 14 countries and in all 50 states, as well as the District of Columbia; although small business insurance is not available in Alaska.
Hiscox provides a comprehensive list of business insurance products that include general commercial liability, legal liability; corporate ownership policies (BOPs), employee compensation, cyber debt, commercial vehicles, and employment liability insurance (EPLI). The company also records all business insurance policies sold by GEICO.
Hiscox offers standard credit coverage of up to $ 2 million, but higher limitations are available when writing is authorized. The company prides itself on many industries and types of policies. Customized solutions are available in 180+ different industries including salons, fitness instructors, consultants, therapists, housing providers and acupuncture.
We have selected Worldwide as our best general credit provider because the company is a business insurance company focused; on simple, straightforward, appropriate insurance solutions for businesses with the riskiest, common credit requirements. Nationwide and get an A ++ Superior rating from AM Best for financial sustainability.
The whole country traces its roots back to 1926 when it operated as a Farm Bureau Mutual Automobile Insurance Company. The name was changed nationwide in 1955; during its efforts to increase its spread across all provinces from coast to coast. There are agents in every province except Hawaii and Alaska.
In addition to the general legal obligation; the State provides a wide range of business insurance that includes business property, commercial vehicles; BOP, employee compensation, EPLI, equipment division coverage, and umbrella insurance. The company also has 14 different industry professionals including retailers; specialist offices – including medical clinics, food and beverage businesses, and farms and farms.
We have chosen Hartford as our top employee compensation provider; because of the special benefits, it offers employers on-the-go payment plans. These systems significantly reduce the likelihood of overpaid or underpaid payments; because the costs are based on cash rather than speculation.
Since then, the company has grown into a Fortune 500 company serving more than half a million small business customers. Hartford, a Connecticut-based company, has an A + (Superior) rating from AM Best.4
Hartford offers a wide range of business insurance options including general debt, BOPs; commercial vehicles, commercial floods, data breach coverage, commercial umbrella, business revenue, and the inclusion of a legal obligation. The company also advertises more than 20 industry professionals including plant breeders, pet breeders, restaurants, printing, and publishing.
In addition, Hartford offers many other benefits to policymakers, including:
- Access to Hartford’s Preferred Medical Provider Network with more than a million healthcare providers
- Features of prescription drugs
- A nurse program that returns to life
- Hartford customers, as the company is the second-largest workers’ comp insurance provider in the country.
Travelers is another company with a history dating back to 1864 when one of its founders began to write accident insurance for two cents. The company as it is known today was founded in 2004 with a merger of Travelers and St. Paul Companies and also has an A ++ rating from AM Best.
Travelers have insurance solutions designed to meet the needs of companies in more than 20 industries including transportation, manufacturing, construction, retail, and community organizations. However, the company has developed great technology in commercial real estate insurance.
We have chosen Liberty Mutual as the best BOPs insurance because the company has a quick and easy process with a simple business owner policy available in many different industries that include coverage in a single cost-saving policy.
We have selected Liberty Mutual as our best provider of business owners’ policies (BOPs) that integrates multiple types of investments into a single policy that protects against debt, asset loss, and revenue loss. Liberty Mutual is in a unique position to help large numbers of business owners, regardless of industry.
Liberty Mutual provides business insurance through private agents across the country. The company has a number of available services including commercial vehicles, equipment breakdown, inland, umbrella cover, and workers’ compensation, as well as 11 industry-specific solutions including construction, government agencies, financial institutions, health care, retail, and supermarkets. . Liberty Mutual also advertises the support of 24-hour applications through a nationwide contractor referral network.
While commercial vehicles are one of the most Progressive areas, the company also offers other types of business insurance that include general debt, employee compensation, BOPs, legal liability, and cyber insurance. Progressive has specifically created insurance solutions for 61 industries and occupations including gyms, yoga instructors, car mechanics, painters, beauty salons, and much more.
Progressive offers a discount on automated sales if your business has a general responsibility or a functional BOP, even if the general credit or business policy of a business owner is a separate network company. Business owners can also save up to 15% off their annual premiums in advance.
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To identify the best small business insurance companies, we look at more than a dozen national and regional insurance companies, as well as a few online buyers. We have chosen not to include vendors in our list because we have identified many instances where business owners may not receive discounts and other savings, as well as customizations for their business, by working directly with network companies.
Business owners need an insurance company to deal with as they grow. To build our list, we focus on companies that make coverage more accessible and have stronger standards of financial stability and customer satisfaction. We also considered the types of cover offered by the companies and industries in which they specialize.