CoverWallet Review 2024
CoverWallet is an insurance marketplace that allows small business owners to fill out one application and get multiple quotes.
Recommended: Every business is unique— find the best match for your small business in our Best Small Business Insurance Companies review.
CoverWallet Business Insurance
Founded by Inaki Berenguer and Rashmi Melgiri in 2015, CoverWallet prides themselves on offering advice first, then insurance solutions.
CoverWallet is a business insurance company that has partnerships with other insurance agencies. When you fill out an application with CoverWallet, they present it to their partnering agencies.
Then, CoverWallet shows you which insurance company comes back with the best coverage and rates, so you can decide who to do business with. Everything is recorded and saved online so that you can view statements, payments, coverage documents, and everything policy-related on CoverWallet’s online business insurance dashboard.
Pros
- Easy-to-use platform
- Great support documents
- Free no-obligation quotes
- Shop many insurers at once
- Policy information stays organized and saved
Cons
- Reports of slow-acting customer service
- Quotes can be delayed
Looking for the best policy at the best price? Check out our Best Small Business Insurance review.
Types of Insurance Offered by CoverWallet
CoverWallet partners with numerous insurance providers to provide any type of business insurance your small or medium-sized business needs.
Here is a list of their most common insurance policies:
- General Liability Insurance
- Workers’ Compensation Insurance
- Business Owner’s Policy (BOP)
- Commercial Property Insurance
- Professional Liability Insurance (Errors & Omissions Insurance)
- Commercial Auto Insurance
- Commercial Umbrella Insurance
- Product Liability Insurance
- Directors & Officers (D&O) Insurance
- Business Interruption Insurance
- Liquor Liability Insurance
- Medical Malpractice Insurance
Visit CoverWallet’s website for a complete list of insurance types.
How to Get a Quote from CoverWallet
- Visit CoverWallet’s Website
- Select “Get instant quotes”
- Answer questions about your business
- Talk directly to a CoverWallet agent to get advice, if needed.
- Fill out an application.
- Wait for quotes.
- Select the best coverage and rate option.
- Purchase through CoverWallet.
CoverWallet Customer Reviews
CoverWallet seems to have mostly positive reviews from customers. Here are some verified CoverWallet reviews on eKomi and the web made by people who sought insurance through them to help their businesses:
“It's really nice having CoverWallet's dedicated agent who I can call at any time to ask about my insurance.”
My experience with all CoverWallet representatives has been amazing! Everyone is professional, knowledgeable and helpful. *** was especially helpful whenever I requested additional quotes for subsequent coverage.
“I contacted CoverWallet by phone to obtain general liability insurance for a non-profit organization. I provided a lot of information about the organization and, initially, the agent was quite helpful. He gave me a quote and said that he would get back to me once the policy had been approved by an underwriter. I waited for almost a week and then received an email from CoverWallet reminding me that they had given me a quote. When I emailed back asking when it would be approved by the underwriter, I didn't get a response. I then called the agent and left a voice message asking for an update and my call was never returned. In the end, I had wasted a lot of time that I could have spent looking at other more viable options.”
CoverWallet Review Ratings
Value — 5/5
Overall, CoverWallet is valuable for many businesses because you’ll get a variety of quotes from different insurers that are competing for your business.
Customer Service — 4/5
CoverWallet’s customer service is friendly, transparent, and extremely helpful. Our overall experience was satisfying; however, some online customer reviews have complained of a lack of customer support for small businesses.
Ease of Use — 5/5
Applying for general liability insurance was exceptionally easy. Everything is explained perfectly on CoverWallet’s website in three easy steps with expert guidance along the way.
Included Features — 4/5
We like CoverWallet’s approach to insurance because they have you fill out just one application and get you quotes from numerous competing companies. This is the primary feature we like about CoverWallet but other features like:
- Friendly customers service
- Expert insurance advice
- No obligations
- Great quotes
- Policy information stored in the cloud, accessible anytime
Final Thoughts on CoverWallet
CoverWallet may be the right insurance solution for your business if you are pressed for time and want someone else to handle finding the best insurance for your small business. CoverWallet helps you find the best rate and coverage to serve your business.
Our Approach
Choosing the best business insurance comes down to three things:
- The type of business you have
- What you need to insure
- Which insurer offers the best small business insurance quote
We selected the best business insurance providers by reviewing numerous insurance companies online. Then, we analyzed them to understand the types of businesses they best serve. Finally, we narrowed down what types of insurance they provide.
We also looked into which insurers provide the best quotes, customer service, and any other aspect that makes them unique.
Recommended: Find out how small business insurance providers stack up in our Best Small Business Insurance review.
CoverWallet FAQs
Is CoverWallet insurance legit?
CoverWallet is a legitimate solution for small businesses needing insurance. They help small and medium-sized businesses get quotes from their insurance agency partners.
Who is CoverWallet?
CoverWallet is an online business insurance service that offers insurance through partner agencies using a single application process. Once you submit your application through CoverWallet, insurance companies compete for your business helping you quickly get the best insurance coverage.
Do I need business insurance for an LLC?
If you own a limited liability company (LLC), it is best to have business insurance to protect your business against liability and negligence as well as damage and accidents.
What types of businesses does CoverWallet work with?
CoverWallet works with all sorts of small and medium-sized businesses. Specifically, they work with the following businesses:
- Startups
- Restaurants
- Truckers
- Janitors
- Contractors
- Retail Stores
- Non Profits
- Accountants
- Beauty Salons
- Consultants
- Health Care
- And more
How do I file a claim with CoverWallet?
CoverWallet is an insurance marketplace which means that the company helps you choose an insurance provider.
All claims are filed with the insurance provider you choose, not CoverWallet.