If you run a small business, you'll need business insurance to protect your assets from lawsuits, and accidents. Next Insurance is one of the best business insurance companies with a history of protecting businesses of all sizes with a wide variety of coverages.
In this review, we’ll dive deep into Next Insurance and highlight the pros, cons, benefits, and features of coverage offered to help you decide if Next is right for your small business.
Recommended: Find out why Next is our top-reviewed business insurance provider and protect your small business with Next Insurance.
Next Insurance for Small Business
With over 300,000 small businesses insured, Next Insurance is quickly becoming one of the top small business insurance companies in the country. Named in the Forbes Fintech 50 2020 list, Next Insurance is aimed at making small business insurance easy, accessible, and ultra-affordable for business owners. The company is fully digital and is still able to offer the same personalized services as brick-and-mortar insurance companies via email, online chat, or phone.
In addition to the most common types of business insurance, Next Insurance offers a good selection of niche insurance products you may not find at other companies, including hired & non-owned auto insurance, liquor liability coverage, and tools & equipment insurance. You can also bundle multiple types of coverage and save with their business owner’s policy designed to protect small businesses from the most common types of claims and incidents.
With Next, you can get a quote, buy business insurance, and download an instant certificate of insurance in just a few minutes. Customers have access to a convenient dashboard to manage policies, pay premiums, file claims, and more without ever having to wait on hold or visit an insurance agency. Best of all, Next Insurance can customize your policy to work within your budget, so you’re only paying for the coverage you need.
- Streamlined online quote and sign-up process
- Some of the most affordable rates for small businesses
- Instant certificate of insurance (COI) downloads
- Excellent customer reviews
- Easy-to-use insurance dashboard
- Support available by phone, chat, or email
- Niche and specialized insurance policies
- No local office or agency
- Email support can be slow
Types of Insurance Offered by Next Insurance
Next Insurance is often ranked among the top insurance companies for small businesses because of the comprehensive coverage offered by their most common policies. When compared to other major insurance companies, Next was able to offer general liability insurance and professional liability coverage at a much lower rate. While these aren’t the only types of insurance they offer, general liability is often a starting point for small business owners looking for fast, affordable coverage.
Other types of business insurance offered by Next include:
- General Liability Insurance
- Workers’ Compensation Insurance
- Professional Liability Insurance
- Errors and Omissions (E&O) Insurance
- Commercial Auto Insurance
- Commercial Property Insurance
- Business Owner’s Policy (BOP)
- Hired & Non-Owned Auto Insurance
- Tools & Equipment Insurance
- Liquor Liability Insurance
- Product Liability Insurance
- Business Insurance
To make things even easier, the Next Insurance website breaks down insurance policies based on the type of business you run. From their main menu, you can view common business coverages available for Amazon sellers, cleaning companies, fitness instructors, and many other industries. You can also chat with an agent about your unique business situation to receive a specialized quote based on your unique needs.
How to Get a Quote From Next Insurance
Getting an online quote from Next Insurance is a fairly simple process and can be completed in as little as 5 minutes. Their top navigation includes a large “Get Instant Quote” button that launches a short survey to help determine the best coverage for your business.
Just answer a few questions about the type of business you run, current coverage, location, and amount of coverage requested, and you’ll have a real quote for business insurance that you can buy today.
We rank our best business insurance providers based on the following categories:
- Lowest rates
- Types of insurance coverages offered
- Ease of use
- Customer support options
- Existing customer reviews
This review was based on experiences exploring the Next Insurance platform and products. Our reviewer ran a blind test using real business information to obtain a quote for small business insurance, go through the sign-up process, explore policy documents, download proof of insurance, contact support, and more.
Next Insurance Review Ratings
Value — 5/5
Overall, Next Insurance has some of the best prices for business insurance policies, especially when it comes to general liability and professional liability insurance. They are also ranked No. 1 in our 5 Cheapest Business Insurance Companies review, beating out every other provider in several areas.
Customer Service — 4/5
Customer reviews report more than satisfactory experiences when interacting with Next Insurance customer service and insurance agents. Support is available through a convenient online chat feature, by phone, and email. They also have a collection of valuable resources to help small business owners better understand insurance.
Ease of Use — 5/5
The Next Insurance website and customer dashboard are extremely easy to navigate and don’t require any technical knowledge to work with. Everything from getting a quote to downloading proof of insurance can be done online in just a few minutes.
Included Features — 4/5
From the online quote generator to the all-inclusive customer insurance dashboard, all of the features provided by Next Insurance are designed with small business owners in mind. Customized packages make it easy for businesses to get the exact coverage and policy features they need at the best price.
Final Thoughts on Next Insurance
If you’re a small business owner that appreciates the convenience of a fast and easy sign-up process, Next Insurance may be a great fit. Although this company lacks the in-person support available with traditional brick-and-mortar insurance agencies, customers are still able to get great customer service through convenient channels and extended support times. Proof of insurance is available instantly, and you can pay premiums and file claims in the time it takes to brew a cup of coffee.
For these and many other reasons, Next Insurance is consistently one of our best small business insurance providers.
Next Insurance Review FAQ
What business insurance companies offer online quotes?
Next Insurance is the best online business insurance company that offers a completely digital experience. Business owners can get a quote, sign up for business insurance policies, get proof of coverage, and file claims all from the Next Insurance website or via mobile app.
What insurance do I need for a small business?
Small businesses need general liability insurance. Depending on the industry you operate in, your business may need additional types of coverage.
Do I need business insurance for an LLC?
Owning a limited liability company (LLC) does not exclude your business from state and licensing requirements. You'll want to research your local requirements for the type of business you operate to determine what coverage, if any, is legally required.
How much does small business insurance cost?
The amount of insurance you need depends on the type of business you operate. The average cost of small 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.
Who has the cheapest business insurance?
Our reviewer found Next Insurance to offer the cheapest business insurance policies via their online quote generator. The cost of business insurance will ultimately depend on the type of business, amount of coverage needed, level of risk, and affordability.