Amy Danise is a highly experienced managing editor for the insurance section at Forbes Advisor, overseeing a wide range of insurance categories including auto, home, renters, life, pet, travel, health, and small business insurance. With her extensive background in editing, writing, and team leadership, Amy brings a wealth of knowledge and expertise to the insurance industry.
In a recent analysis of official complaint records from 28 insurers, Allianz and Clear Blue emerged as the top small business insurance companies. These companies offer a range of policies to protect small businesses from various risks such as workplace injuries, theft, fire damage, weather damage, and lawsuits. Choosing the right insurance policy for your small business can be challenging, but with the help of reputable companies like Allianz and Clear Blue, you can find the coverage that suits your specific needs.
Allianz, known for insuring large global enterprises, also caters to small businesses by providing risk consulting across all industries. Their Crisis Management team assists businesses in navigating terrorism, political violence, and hostile environments. Additionally, Allianz has been recognized as a Sustainable Insurer for their efforts in integrating sustainability and climate actions into their global business practices.
Clear Blue Insurance offers business insurance through partner agencies, covering essential areas such as general liability, inland marine, commercial property, and employment practices insurance. While they do not sell directly to small businesses, their partnerships allow for a wide range of coverage options to meet the needs of different industries.
Allstate, a well-known insurance provider for auto and homeowners, also offers business insurance with a strong complaint track record. They cater to various industries, including retailers, food and beverage, medical, and photographers, and provide online quotes for business owners policies. However, they do not offer online claims filing and do not sell workers‘ compensation insurance.
Farmers Insurance offers a wide variety of commercial coverage types and provides useful information on their website regarding business insurance coverage. They also offer workplace safety videos and materials to their business insurance customers, along with online quotes and online claims filing. However, Farmers Insurance does not sell business insurance in all states.
Acuity works through local agents to provide insurance for a diverse range of businesses, from hotels to auto repair shops to retailers and restaurants. They offer various resources such as the Acuity Nurse Helpline for injured employees, on-site loss control consultation and training, and online business insurance quotes. Like Farmers Insurance, Acuity does not sell business insurance in all states.
CNA boasts an excellent complaint track record and offers over 300 coverage types for businesses in industries such as construction, healthcare, financial institutions, and manufacturing. They provide risk management services through PrepWise and offer a pay-as-you-go workers‘ compensation insurance option. CNA also provides online business insurance quotes and online claims filing, making the process more convenient for small businesses.
Travelers, one of the largest insurers for commercial insurance, offers a wide range of commercial insurance solutions through independent agents. They provide innovative services such as TravPay for workers‘ compensation and TravComp for workers‘ compensation claims, along with risk control resources and online services for policyholders. While Travelers does not offer online business insurance quotes, their comprehensive coverage options make them a reliable choice for small businesses.
Frankenmuth Insurance specializes in customized, business-specific insurance packages for operations such as retail stores, manufacturing, and small offices. Operating in 15 states in parts of the Midwest and Southeast, Frankenmuth insurance is sold by local independent agents and covers a variety of businesses. However, they do not offer online business insurance quotes and are only available in 15 states.
Cincinnati Insurance sells its coverage through local independent agents, tailoring coverage to fit the needs of businesses in various industries. They offer industry-specific packages like CinciPlus and CiniPak, along with a three-year commercial package policy that locks in rates for the policy term. Cincinnati Insurance also provides complimentary loss control services to help businesses manage workplace accidents and injuries. While they are not available nationwide, Cincinnati Insurance offers a range of coverage options for small businesses.
Westfield Insurance operates in 21 states and has a notable track record for low complaints. With their Westfield Signature Series, businesses can bundle optional coverage types to address specific needs, and they are among the top sellers of farm business policies. However, Westfield Insurance does not offer online business insurance quotes and is only available in 21 states.
Chubb’s small business insurance targets businesses with up to $30 million in revenue, offering coverage for various operations such as cultural institutions, food services, healthcare, manufacturers, and retail stores. Their Business Owners Policy (BOP) provides flexible coverage options, and they offer online business insurance quotes for businesses with a current or projected annual gross revenue of $2 million or less.
When it comes to small business insurance, it’s essential to consider the different types of coverage available. Common types of small business insurance include general liability, commercial property, and workers‘ compensation insurance, each addressing specific risks associated with your business type, size, and location.
To determine the amount of small business insurance coverage needed, factors such as business type, size, location, and contractual requirements should be considered. The cost of small business insurance varies depending on industry, payroll size, number of employees, location, building characteristics, coverage types, and claims history. Comparing quotes from different insurers can help find the best coverage at an affordable price.
In conclusion, small business insurance is crucial for protecting your business from various risks and liabilities. By working with reputable insurance companies like Allianz, Clear Blue, Allstate, Farmers Insurance, Acuity, CNA, Travelers, Frankenmuth Insurance, Cincinnati Insurance, Westfield Insurance, and Chubb, small business owners can find the right coverage to safeguard their operations. With the guidance of experts like Amy Danise, businesses can make informed decisions about their insurance needs and ensure they are adequately protected.