7 Best Business Insurance Companies in Texas 2022

Unlike many states, Texas currently only requires that business owners purchase a commercial auto policy for business-owned vehicles. 

Despite the state’s lenient commercial insurance laws, it’s important that you secure insurance that fits your business’s needs.

In this review, we’ll explore the best small business insurance in Texas and share what makes them the right choice.

Recommended: Next Insurance offers dedicated small business insurance to Texas companies.


Top 7 Texas Business Insurance Providers

Which of these insurance carriers your Texas small business should carry a policy with depends on your specific business insurance needs. The size of your company, commercial assets, and industry are just a few of the factors that will impact which carrier is the right fit. 

Our Approach:

When selecting the best Texas small business insurance, there are four things to consider:

  • The kind of business you own
  • What assets you need to protect
  • Which carrier offers the broadest coverage at a competitive price
  • The insurer’s customer service reputation and financial rating

To craft this list of the best business insurance companies in Texas, we took an in-depth look at the nation’s top business insurance providers licensed in the Lone Star State. In our analysis, we used the criteria mentioned above, along with any other elements that make them unique.

Our Best Texas Business Insurance Providers for 2022:

  1. Next Insurance: Best overall business insurance for Texas small businesses. Next offers affordable coverages specifically tailored to small businesses and has excellent customer service.
  2. CommercialInsurance.net: Excellent LLC insurance for larger businesses. CommercialInsurance.net makes comparing policies convenient and intuitive, making it easy to check policies that may be suitable for your business quickly.
  3. State Farm: Largest business insurance provider — with more than 19,000 independent agents across the country, they understand small business needs. 
  4. CoverWallet: Best for comparing online quotes — their online quoting system is user-friendly, and they offer a variety of different types of policies.
  5. Nationwide: Best commercial property insurer — they offer customized insurance coverage and have a positive reputation for customer service and claims handling.  
  6. Chubb: Best business liability insurance — they offer liability coverage tailored to your unique business needs.
  7. Hiscox: Best insurance for independent contractors — they’re a global insurer that specializes in customized business insurance for micro and small businesses.
The Truic Flame Logo

Best Texas Business Insurance

Get a quote with Next and find an insurance product tailored to your small business needs. It only takes a few minutes. 

Start a Quote

1. Next Insurance: Overall Best for Small Business Insurance in Texas

Next Insurance should be first on the shortlist of companies to get quotes from for small businesses in Texas.

The insurance policies that Next Insurance offers are primarily for sole proprietors and smaller LLCs. Startups, local businesses, professionals, online sellers, and similar businesses may find that Next meets their needs well. (Larger businesses and high-risk businesses might need more specialized coverages than what Next’s policies come with.)

Coverage options include the common ones, such as general liability, professional liability, commercial property, commercial auto, and workers compensation insurances. A few more specialized protections, including tools and equipment, liquor liability, and product liability insurances, are also available.

While any of these coverages can be purchased on its own, Next more often combines the coverages into package policies that are designed for particular types of small businesses. Specialized policies for real estate brokers, therapists, restaurants, fitness centers, contractors, and other small businesses are already tailored for each business’s needs. Of course, there are standard business owners policies (BOPs) too.

As a newer insurance company, Next Insurance is taking advantage of online efficiencies to improve customer service and cost savings. Almost everything can be done online, including obtaining quotes and insurance certificates, but there’s also phone support for anytime a little extra help is required. Because businesses primarily take care of insurance matters through the website, overhead is lower and premiums are accordingly reduced.

Additionally, Next Insurance is one of the few online insurers that manages its own claims. Should a claim ever have to be filed, the entire evaluation and payment of the claim is managed by Next employees.

Demotech and A.M. Best have already deemed Next Insurance one of the best insurance companies in Texas and throughout the United States. They’re certainly one of the first ones that any small businesses needing insurance should get a quote from.

Next Insurance Featured Coverages

  • General Liability Insurance
  • Professional Liability Insurance
  • Hired & Non-Owned Auto Insurance
  • Commercial Property Insurance
  • Commercial Auto Insurance
  • Tools & Equipment Insurance
  • Workers’ Compensation Insurance

PROS

  • Specializes in policies for small businesses
  • Online services and available phone support
  • Quick online quotes, and access to certificates of insurance
  • Claims handled in-house
  • Affordable premiums for small businesses
  • Industry awards and high customer satisfaction ratings

CONS

  • Limited specialized coverages for high-risk or larger businesses
  • Doesn't have any local agents
The Truic Flame Logo

Recommended: Next Insurance

Get insurance dedicated to Texas small business and save money. 

Next Insurance

2. CommercialInsurance.net: Best Insurance Policy Finder for Small Businesses in Texas

CommercialInsurance.net ranks among the top of our list for the overall best business insurance in Texas. They have partnered with the nation’s top commercial insurers to provide a variety of coverage options to meet every entrepreneur’s needs. CommercialInsurance.net’s website is informative and user-friendly, making obtaining a quote quick and easy. 

CommercialInsurance.net Featured Coverages

  • General Liability Insurance 
  • Professional Liability Insurance
  • Commercial Umbrella Insurance
  • Business Owner’s Policy (BOP)
  • Commercial Property Insurance
  • Commercial Auto Insurance
  • Business Hazard Insurance
  • Workers’ Compensation Insurance

PROS

  • Obtain a quote online or speak with an agent by phone from 8:00 a.m. to 8:00 p.m., Monday through Saturday
  • User-friendly website and quoting system
  • Partners with a variety of the nation’s top carriers, ensuring no small business has to go uninsured.
  • Affordable premiums
  • Provides business insurance tips and insights so every entrepreneur is set up for success
  • Skilled and knowledgeable customer service agents

CONS

  • CommercialInsurance.net is an online quoting service, not an insurance carrier.
The Truic Flame Logo

Recommended: CommercialInsurance.net

CommercialInsurance.net offers the most coverage options for large businesses.

CommercialInsurance

3. State Farm: Largest Business Insurance Provider

When it comes to small business insurance, State Farm is unmatched. With over 19,000 independent State Farm agents across the country, State Farm understands the challenges and risks you face as an entrepreneur in Texas.

State Farm Featured Coverages

  • Business Owner’s Policy
  • Commercial Liability Umbrella Policy
  • Commercial Auto Insurance
  • Surety & Fidelity Bonds
  • Workers’ Compensation Insurance
  • Farm & Ranch Insurance
  • Errors and Omissions Liability Insurance
  • Contractor’s Policy

PROS

  • Ranks high in terms of financial security and customer service
  • 24-hour customer service and claims service
  • Positive customer reviews

CONS

  • Selective about the risks they insure
  • Some customers have complained of slow claims processing or their claims being denied.
  • Policy discounts vary from state to state.
The Truic Flame Logo

State Farm

Check out our State Farm and learn more about their wide range of features and services.

4. CoverWallet: Best for Comparing Online Quotes

CoverWallet is an excellent resource for business owners seeking the best coverage at affordable rates. Unlike organizations like State Farm, CoverWallet acts as a third party, connecting entrepreneurs with insurance carriers. 

CoverWallet has partnered with a number of reputable insurance companies and continues to add new partnerships each year. What’s more, you can manage your account directly through the CoverWallet website.

CoverWallet Featured Coverages

  • Garage Liability Insurance
  • Pollution Liability Insurance
  • Errors and Omissions (E&O) Liability Insurance
  • Liquor Liability Insurance
  • Medical Malpractice Insurance 
  • Workers’ Compensation
  • Business Owner’s Policy

PROS

  • User-friendly online quoting system for easy coverage and premium comparison
  • Ability to manage every aspect of your policy online, including obtaining Certificates of Insurance
  • Offers a variety of coverage and policy options
  • Customer service agents are available to assist you by phone, chat, or email.

CONS

  • Brokerage fees may apply.
  • Online quoting system only provides quotes for carriers they’re partnered with
  • Quotes can take 24-48 hours.
The Truic Flame Logo

CoverWallet

Learn if CoverWallet can help you find unique coverage for your Texas small business in our review.

5. Nationwide: Best Commercial Property Insurer

Nationwide has been protecting Americans since 1926 and continues to receive positive ratings year after year. Whether you’re insuring your farm, agribusiness, or wholesale commercial property, Nationwide is who to turn to for commercial property insurance.

Nationwide Featured Coverages

  • Workers’ Compensation Insurance
  • Commercial Auto Insurance 
  • Commercial Agribusiness Insurance 
  • Equipment Breakdown Insurance
  • Property in Transit Insurance 
  • Employee Dishonesty Insurance
  • Contractors Equipment Insurance

PROS

  • Positive reputation for customer service and claims handling
  • Able to handle the business needs of small, medium, and large companies
  • Offers bundle discounts that other carriers don’t offer
  • Customer service and claims assistance are available 24/7 by phone, online, and through the mobile app

CONS

  • No online quoting system available
  • Chat feature availability is inconsistent
The Truic Flame Logo

Nationwide

Learn more about Nationwide’s great customer service and quick claim handling in our review.

6. Chubb: Best Business Liability Insurance

Chubb is the carrier to turn to for your insurance needs if you’re in need of multiple layers of liability protection. Chubb offers both commercial and personal insurance policies and is positively rated for its financial stability and customer service.

Chubb Featured Coverages

  • General Liability Insurance 
  • Professional Liability Insurance
  • Environmental Liability Insurance
  • Umbrella Insurance
  • Business Owner’s Policy
  • Cyber ERM
  • Workers’ Compensation Insurance

PROS

  • Wide range of insurance products available
  • Discounts for home-based businesses
  • Unmatched guidance and support for the startup entrepreneur
  • Offers surplus lines insurance for businesses that are difficult to place
  • Claims are handled in-house

CONS

  • Online services are somewhat limited
  • Rates aren’t published online - you will need to provide information about your business to obtain a quote
The Truic Flame Logo

Chubb Insurance

Learn more about Chubb’s general liability and professional liability insurance solutions.

7. Hiscox: Best Insurance for Independent Contractors

Hiscox specializes in protecting industries that other carriers find too risky or complex to insure. Their team of experts is dedicated to ensuring every small business has the protection they need.

Hiscox Featured Coverages

  • General Liability Insurance
  • Short-Term Liability Insurance
  • Professional Liability
  • Business Owner’s Policy 
  • Cyber Security Insurance
  • Workers' Compensation Insurance

PROS

  • Offers customized insurance plans for almost 200 professions
  • Quotes available within minutes
  • Offer flexible payment options
  • Positive customer service and financial ratings
  • Fast claims processing

CONS

  • Some policy changes can only be done by phone
The Truic Flame Logo

Hiscox

Check out our Hiscox review to learn more about Hiscox coverage and value.

Frequently Asked Questions

Why do I need small business insurance?

Some professions or business contracts require that you have business insurance. If this doesn’t apply to you, insurance is still a critical component of your business portfolio. Your policy is there to protect your company and its assets from unexpected lawsuits and claims.  

What kind of business insurance do I need?

The type of business insurance you need depends upon the products or services you offer and how your business is structured. Every business should have a general liability policy. If you have business tools, equipment, or vehicles, you’ll want to consider covering those assets as well.

Do I need business insurance if I have an LLC?

In short, yes. While incorporating as an LLC in Texas protects your personal assets, your business assets are still at risk in the event of a claim or lawsuit.

Featured Articles