Getting an online business insurance quote can be fast, accurate, and easy.
Our #1 rated online insurance carrier, Next Insurance, specializes in online small business insurance.
Next uses AI and machine learning to create tailored and affordable policies for thousands of different types of small businesses.
For a full list of our top online small business insurers, take a look at our Best Small Business Insurance review.
Save up to 30% on business insurance with Next Insurance.
Online Business Insurance Coverage
The insurance industry is going through a rapid transformation as digital technology offers greater levels of security and convenience. More and more, small businesses prefer to use online business insurance providers to find personalized insurance products and save on costs.
Online business insurance providers offer these benefits:
- Mobile Apps: Easily find out what is covered, file claims, access policy documents Certificate of Insurance (COI) and get other resources to help your small business.
- Personalized Coverage: Less than a third of current insurance owners are satisfied with their current level of coverage; the biggest reason: is the lack of personalized coverage. Online insurance providers use AI and predictive data to provide customized insurance options tailored to the unique risks to your business.
- Lower Premiums: Online business insurance providers save on expenses by not having brick-and-mortar locations or full-time agents and using AI for more accurate underwriting. They pass on these savings to their customers through lower premiums.
- Quick Turnaround on Claims: You can file a claim online and receive a resolution, usually within 48 hours
- Convenience: Save time by avoiding speaking to an agent on the phone, get a quote instantly and ensure your business within 24 hours.
Why You Need Business Insurance
Every small business owner needs to protect their company from disaster. Whether you're about to start a business with one employee or you're growing a small business with 100 employees, a small business insurance policy is there to ensure that catastrophes don't lead to financial ruin.
No matter what, all small businesses require unique policies to fit their situation — some of these will fit better than others.
Types of Business Insurance
General Liability Insurance
General liability insurance, also known as business liability insurance, is the most common type of business insurance, as it covers the most basic needs shared among all companies. Things like bodily injury on your business's property and physical damage caused by employees are covered by a general liability insurance policy. If you aren't sure which types of insurance your company needs, you should start with general liability insurance coverage.
Business Owner's Policy
A business owner's policy (BOP) is a group of insurance policies targeted at small businesses. Normally, you will find these policies containing general liability, commercial property, and business interruption insurance. Since they are packaged and sold as one policy, this makes the administration of your protection simpler, and it may even come at a discounted rate.
Equipment breakdown coverage is one of the core coverages of a business owner's policy. This insurance covers items that include a company's mechanical, computer, and electrical equipment.
Professional Liability Insurance
Professional liability coverage, also known as errors and omissions insurance or E&O, is a policy that is meant to protect professionals in the workplace. Expert advice given to a client by you or your employees may not always lead to the desired result. This can leave you open to liabilities if the client is financially damaged and blames your company. Professional liability insurance coverage is protection for you against that liability.
Workers Compensation Insurance
Workers' compensation insurance is meant to protect the interests of your employees if they are injured on the job. It can also protect your business from a lawsuit if that employee needs compensation for their injuries. Workers' comp is mandated in most states if you have any employees. Read this page to learn about the requirements in your state.
Commercial Auto Insurance
Commercial auto insurance works a lot like personal auto insurance. If your company owns a vehicle, you are mandated by the state to carry at least the state minimum coverage to drive it on public roadways. There is some complexity surrounding what is and is not covered if you drive your personal vehicle for business use, so be sure to do your research to make sure you are fully covered.
Commercial Property Insurance
Commercial property insurance is similar to homeowner's insurance on your personal home. It protects your building and its contents against "named perils" like fire, theft, and inclement weather.
Employment Practices Liability Insurance
Employment practices liability insurance (EPLI) protects businesses against claims made by employees that bring a lawsuit citing a violation of their legal rights as workers.
Cyber Liability Insurance
Cyber insurance protects small businesses from lawsuits and legal costs arising from events like data breaches and malicious software attacks.
Business Interruption Coverage
Business interruption coverage replaces lost business income in the event of a natural disaster. Business interruption coverage isn't sold as an additional policy; it’s added as a rider to existing policies.
“Commercial insurance” simply refers to insurance for businesses. General liability insurance and business owner's policies are examples of commercial insurance.
Business Insurance Quotes Online FAQ
How much does small business insurance cost per month?
The average cost of business insurance typically ranges between $700 and $3,800 per year. Costs will vary depending on factors, such as location, type of work, number of employees, type of insurance policy, and more.
Get a free quote to find what insurance will cost for your LLC.
Do I need to buy insurance for my LLC?
Yes. While the LLC business structure protects your personal assets, it’s also necessary to get LLC insurance coverage to protect your business assets.
What is the most common business insurance?
The most common business insurance is general liability insurance.
General liability insurance is a type of commercial liability insurance policy that protects a business from the financial burden of claims arising from bodily injury, personal injury, or property damage.
How much is a million-dollar business insurance policy?
The average cost range of an LLC's liability insurance policy generally ranges from about $300 to $1,000 per year; however, different types of businesses will have different needs and incur different risks.
There are several variables that will affect the premiums for your specific business such as risk exposure, location, and deductible. We recommend using a digital insurance provider to find out how much insurance will cost for your unique small business.
What does general liability cover?
General liability insurance protects a business from the financial burden of claims arising from bodily injury, personal injury, or property damage.