7 Best Small Business Insurance Companies for LLCs 2024

An LLC can protect your personal assets from business losses, but business insurance protects your business assets. 

We’ve reviewed and found the 7 best small business insurance companies for LLCs by determining which companies can best fit your business’s unique scenario.

Recommended: Next Insurance offers a range of insurance products including Business insurance for your LLC.

Top 7 LLC Insurance Providers

The best LLC insurance provider for your business will depend on your specific needs. While several carriers offer good coverage, specific carriers are particularly well-suited for certain industries, business sizes, and other needs.

Our Approach:

Some of the main criteria for our review included:

• Available coverage
• Policy premiums
• Customer service

Our Best Insurance Providers for LLCs:

1. Next Insurance: Best overall LLC insurance for small businesses. Next offers affordable coverages specifically tailored to small businesses and has excellent customer service.
2. Tivly: Excellent LLC insurance for larger businesses. Tivly makes comparing policies convenient and intuitive, making it easy to check policies that may be suitable for your business quickly.
3. CoverWallet: Best when you need multiple insurance policies — they have a diverse selection of policy options that can easily be compared.
4. Hiscox: Best if you're a freelancer or independent contractor — they have policies designed specifically for microbusinesses.
5. The Hartford: Best if you need highly specialized coverages — they offer many coverage customizations.
6. Vouch: Best if you have an early-stage startup — they specialize in policies for new and growing businesses.
7. Chubb: Best if your business has substantial liability risk exposure — they make many liability coverage options available.
8. State Farm: Best for customer service — they have over 19,000 agents throughout the country.

1. Next Insurance

Next Insurance specializes in small business insurance, offering affordable policies with online convenience. Single-member LLCs and LLCs that have fewer employees should be considering Next’s policies.

The coverages offered by Next Insurance meet the risk mitigation needs of most small businesses and startups. Small businesses that need basic general liability, commercial property, commercial auto, and workers compensation will find that these are all readily available. So too are slightly more specialized coverages, such as professional liability, errors and omissions (E&O), hired and non-owned auto, tools and equipment, and liquor liability.

Any of the coverages can be purchased individually, or they can be combined in a package policy. Business owners policies (BOPs) are the most basic package insurance policies for small businesses. 

Next also offers more customized package policies for businesses in specific industries. These include customized policies for Amazon sellers, auto service shops, cleaning companies, financial services professionals, food establishments, therapists, and many more small businesses.

Businesses that need highly specialized coverage might find that Next’s offerings and terms are too general for their needs. Small businesses that have fairly standard coverage needs will find that Next Insurance is unique in all that it provides, though. 

Next operates entirely online, which allows the company to provide uncompromising savings and service. Premiums can be kept lower because the company doesn’t have to maintain offices or employ in-field agents. Not only can quotes be quickly obtained through the company’s website, but so too can certificates of insurance that clients might ask for.

Additionally, Next Insurance is a true insurance company in that it handles underwriting and claims in-house. Businesses won’t have to deal with a third party if something happens.

You might not be as familiar with Next Insurance as some of the more historic insurers, because Next was founded in 2016. It’s already won A.M. Best and Demotech awards, however, and it’s proving to be one of the best insurance companies for small businesses.

Next Insurance Featured Coverages

2. Tivly

Large businesses in particular will find Tivly's Insurance Marketplace suitable for their needs. Multiple coverage options are available if you have questions.

Tivly Featured Coverages

3. CoverWallet

CoverWallet offers quotes for an extensive list of business insurance policies, which makes finding multiple policies simple. You’ll find both basic and specialized policies and can compare both coverages and premiums of each option.

CoverWallet Featured Coverages

CoverWallet

Learn if CoverWallet can help you find unique coverage for your LLC in our review.

4. Hiscox

Hiscox serves businesses of all sizes and has thousands of clients. The insurer specializes in independent contractor and freelancer policies that are perfect for single-member LLCs. There are policy solutions for over 180 different professions.

Hiscox Featured Coverages

Hiscox

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

5. The Hartford

The Hartford has varied and specialized insurance coverages, which are made available alongside more common coverages. If your LLC is in an industry that has unique risk exposures, The Hartford most likely has the coverages that your industry calls for.

The Hartford Featured Coverages

The Hartford

Check out our review of The Hartford and learn more about all of the different policies they have to offer.

6. Vouch

While Vouch can offer policies for established businesses, the carrier specializes in policies for new and growing businesses. If you’re just starting an LLC, Vouch offers affordable basic policies onto which you can add more coverages as needed.

Vouch Featured Coverages

Vouch

Vouch offers more coverage options as small businesses grow.

7. Chubb

Chubb offers a range of business insurance coverages, and the options include many different liability protections. If your profession comes with extensive liability risk exposure, you’ll likely find that Chubb has both the common and the specialized liability coverages you need.

Chubb Featured Coverages

Chubb Insurance

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

8. State Farm

State Farm is among the largest insurance companies, and the company’s size means it provides extensive customer service. You can call or go online, but the best service comes from the 19,000 agents, who are all business owners themselves.

State Farm Featured Coverages

State Farm

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

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