Any business with employees needs to carry workers’ compensation insurance and unemployment insurance, at a minimum. But depending on your business type and industry, you’ll also want to consider getting general liability insurance, commercial property insurance, and professional liability insurance.

Finding the best business insurance goes beyond choosing the right policy. Getting insured through the right company makes a huge difference.

The Best Business Insurance Companies For 2023

  • The Hartford — Best overall business insurance company
  • Travelers — Best insurance company for workers’ compensation
  • State Farm — Best for small business insurance
  • Chubb — Best business insurance for international coverage
  • Progressive — Best for commercial auto insurance
  • Liberty Mutual — Best business insurance for manufacturing and agriculture
  • AmTrust Financial — Best business insurance for restaurants
  • Founder Shield — Best business insurance for tech startups
  • Farmers Insurance — Best small business retail insurance
  • Allstate — Best for rental services and real estate agents
How to choose the best business insurance company.'s methodology for reviewing business insurance companies.

The best business insurance policies offer a wide range of basic coverage. Ideally, you’d like to get a policy covering all of your needs under one roof. After reviewing and researching dozens of business insurance companies, we narrowed down the top ten for you to consider.

Our list is based on factors like coverage offered, premium pricing, and customer service. Use this guide to find the best business insurance company for you.

The Best Business Insurance Reviews

The Hartford

The Hartford logo.

The Hartford is the best overall business insurance company on the market today. Covering businesses of all different shapes and sizes, The Hartford has everything you could possibly need.

For over 200 years, this company has been providing insurance solutions to businesses across the country. They’ve also made the list of the World’s Most Ethical Companies 14 different times.

The Hartford offers a wide range of business insurance policies, including:

  • General liability insurance
  • Commercial property insurance
  • Business income insurance
  • Professional liability insurance
  • Data breach insurance
  • Commercial umbrella insurance
  • Commercial auto insurance
The Hartford business insurance homepage
From a bodily injury on one of your properties to stolen inventory, fires, or floods, The Hartford has you covered.

It’s easy for you to bundle different types of insurance with add-ons to a single policy. You can apply online to get a quote in minutes.

The Hartford is known for providing exceptional service to its business customers during the claims process. You can’t go wrong by getting a quote from an industry leader in business insurance.


Travelers logo.

Travelers is another giant in the world of business insurance. The company covers a wide range of industries, including construction, finance, manufacturing, retail, technology, and more.

Travelers business insurance homepage
With more than 30,000 employees and roughly 13,500 independent agents and brokers, Travelers insures businesses across the United States, Canada, Ireland, and the UK.

This insurance company has been around for more than 165 years.

In addition to industry-specific policies, Travelers provides lots of different coverage types. Some of the most popular Travelers business insurance solutions cover:

  • General liability
  • Workers’ compensation
  • Management and professional liability
  • Cyber
  • Commercial auto and trucking
  • Surety bonds
  • Environmental liability
  • Boiler and machinery
  • Excess casualty and umbrella

With that said, the workers’ compensation insurance policies from Travelers really stand out the most. Travelers is the leading writer of workers’ compensation insurance in the United States.

Whether you’re a small local business or national organization with employees across multiple states, Travelers is a top choice to consider for workers’ compensation and general liability.

State Farm

State Farm logo.

State Farm is typically associated with home insurance and car insurance. They are best known for providing excellent customer service at affordable rates to their customers.

This service and reliability definitely applies to their business insurance plans as well.

State Farm has policies designed specifically for small business owners:

  • Business owners policy
  • Professional liability
  • Commercial liability umbrella
  • Workers’ compensation
  • Business and commercial auto
  • Small business life

With State Farm, it’s easy for you to adjust your coverage as your company grows. Your agent will work with you to understand the needs of your scaling small business. This will ensure that your coverage limits are appropriate for the business size.

State Farm small business insurance homepage
From the startup stage all the way until a company sale or change of ownership, State Farm has everything a small business owner needs to protect themselves from the unexpected.


Chubb logo.

Chubb is second to none when it comes to taking care of their insureds. This insurance company has a reputation for providing “white glove” service and paying out claims quickly, without any hassle.

Chubb has business insurance coverages that aren’t offered by other companies on the market today. In addition to general liability and workers’ compensation, Chubb has business insurance packages in the following categories:

  • Accident and health
  • Cyber
  • Environmental
  • Excess and surplus
  • Global casualty
  • International solutions for mid-sized companies
  • Management liability
  • Marine
  • Medical liability
  • Product recall
  • Professional liability
  • Railroad liability
  • Surety
  • Trade credit and political risk

As you can see, the list includes some rare and unique coverage options that we haven’t really seen from other providers in this guide.

Chubb business insurance homepage
Between Chubb’s excellent customer service and wide range of coverage options, you can expect to pay a little bit more on your business insurance premiums.

Chubb is best for businesses in need of international coverage. So if you’re traveling for work or making transactions outside of the US, consider Chubb for your insurance needs.


Progressive logo.

Like most insurance companies, Progressive has several different business insurance policies and coverage types. They provide general liability insurance, professional liability, cyber insurance, workers’ compensation, and business owner’s policy.

With that said, Progressive’s specialty is commercial auto insurance. They offer a wide range of coverages for business vehicles, including:

  • Truck insurance
  • Pickup truck insurance
  • Van insurance
  • Box truck insurance
  • Tow truck insurance
  • Cars and SUVs
  • Commercial trailers

More than 1.9 million commercial vehicles in the United States are insured by Progressive. Basically, any vehicle used for business purposes can get insurance protection from Progressive.

As the country’s most popular business auto insurance company, the rates are actually pretty affordable. Progressive’s average commercial customer pays about $175 per month for business auto. You’ll even get 15% off if you pay your premiums in advance.

In addition to the coverage provided by Progressive, the company will be there when you need them. Adding a driver, vehicle, or changing a policy is quick and easy. Progressive has 24/7 commercial auto service.

Progressive commercial auto insurance homepage
Progressive’s claim experts will help get your vehicles back on the road as soon as possible to limit business interruptions in the event of an accident.

If your company has vans, trucks, drivers, or any vehicles on the road for business purposes, Progressive will be a top choice for business auto insurance.

Liberty Mutual

Liberty Mutual logo.

Liberty Mutual is another well-known name in the insurance industry. The company provides small business insurance coverage as well as mid-to-large size business protection. Liberty Mutual even insures Fortune 500 corporations.

Liberty Mutual business insurance homepage
Liberty Mutual is a top provider of preferred property and casualty business insurance.

Some of the top coverage options include:

  • Equipment breakdown insurance
  • Excess and surplus liability insurance
  • General liability insurance
  • Inland marine
  • Ocean marine
  • Property
  • Mergers and acquisitions
  • Umbrella and excess liability
  • Third-party administration
  • Workers’ compensation

Liberty Mutual works with a wide range of industries as well. But overall, it’s one of the best insurance providers for companies in manufacturing and agriculture.

From product recalls to errors and omissions coverages, Liberty Mutual can customize your policy to protect your employees, customers, and business from unforeseen circumstances.

AmTrust Financial

AmTrust Financial logo.

AmTrust Financial isn’t as well-known as some of the other insurance companies on our list. It’s definitely not a household name State Farm or Liberty Mutual. The company isn’t nearly as old as The Hartford or Travelers either.

AmTrust Financial small business insurance homepage
AmTrust Financial was born less than 25 years ago, in 1998.

With that said, the company has grown quickly. They currently have 6,000+ employees globally.

AmTrust Financial isn’t trying to compete with the biggest insurance providers on the planet. Instead, they are focusing on niche solutions in the following industries:

  • Financial institutions
  • Nonprofit organizations
  • Restaurants
  • Transportation

Overall, the best coverage offered is for restaurant business insurance.

AmTrust understands the unique risks associated with owning a restaurant. They’ll help you get a policy to protect your workers as well as your customers.

Some of the popular restaurant enhancement coverages include:

  • Spoilage
  • Foodborne contamination
  • Stock sales price (including liquor and fine wine)
  • Peak season
  • Umbrella limits
  • Liquor liability

AmTrust Financial covers family-style and fine dining restaurants meeting certain eligibility requirements. They also work with delis, cafes, and pizzerias.

With that said, not every restaurant will qualify for coverage. For example, new restaurants with a large bar area operating in a 25-year-old building would need to look elsewhere.

Founder Shield

Founder Shield logo.

Founder Shield is another new and lesser-known company. They have only been providing insurance coverages for just over ten years.

But similar to AmTrust, Founder Shield is carving out a niche in the world of business insurance.

Founder Shield specializes in providing coverage to tech startups. Popular coverage categories include:

  • Crime insurance
  • Cyber liability
  • Intellectual property insurance
  • Directors and officers insurance
  • Fiduciary liability insurance
  • Representations and warranties insurance
  • Key person and contract frustration insurance
  • Product liability
Founder Shield coverage page
You’ll also find that Founder Shield offers more traditional business insurance coverage for general liability, workers’ compensation, and umbrella insurance.

Founder Shield is a more modern way to get insurance. The purchasing process is 100% digital. This means there is less paperwork, and it’s easy to manage everything online.

If your company is a high-growth startup in the technology industry, consider getting a quote from Founder Shield.

Farmers Insurance

Farmers Insurance logo.

Farmers is an industry leader for home, auto, and life insurance. But it’s also a top choice to consider for business owners.

The company has been around for nearly 100 years. So you know that you’ll be getting quality service from a well-established name. They have a network of 48,000 agents and 21,000 employees across all 50 states.

Farmers Insurance provides business coverage in the following categories:

  • Property
  • Liability
  • Crime
  • Auto
  • Workers’ compensation
  • Umbrella
  • Life
  • Loss control

While Farmers covers a wide range of industries, we’d recommend it to business owners in retail. You’ll be able to get an affordable policy to protect you from things like theft, injuries, and loss of income.

Farmers business insurance homepage
Farmers business insurance is an ideal solution for boutique shop owners, dry cleaners, florists, and salons.


Allstate logo.

Allstate is best known for offering car insurance to individuals. While business insurance isn’t necessarily Allstate’s specialty or primary focus, there are certain industries and business types that should consider this carrier.

The company provides a high level of customer service with friendly agents and fully customizable plans.

Allstate business insurance homepage
Allstate has coverage solutions across nearly every industry, including professional firms, healthcare, service businesses, retail goods, and food service.

Top insurance coverages from Allstate include:

  • Business property
  • Business liability
  • Business owner’s policy
  • Business interruption
  • Equipment breakdown

Since all of the policies are customized, you can add specific types of coverage to your plan when you get a quote. Needs will vary based on business and industry.

Some unique standouts from Allstate include their real estate coverage and business insurance for rental services.

Allstate has been providing insurance since 1931. So you know that you’re getting coverage from a trusted and well-established name in the insurance world.

How to Find the Best Business Insurance Company For You

With so many companies providing business insurance, you’ll need to learn how narrow your options down. There are certain factors that must be taken into consideration when you’re evaluating an insurance provider.

This is the methodology that we use and recommend. You can use these same factors when searching for the best business insurance.

Coverage Types

Determine what type of coverage you need and find a company that can meet those policy requirements. Most insurance companies will offer the same basic types of coverage.

  • General liability insurance
  • Workers’ compensation insurance
  • Commercial property insurance
  • Professional liability insurance

But some companies specialize in certain coverages. For example, Progressive is the best for commercial auto insurance. Other companies offer unique coverage for things like cyber liability, intellectual property insurance, or international services.

So if your company needs rare or specialized coverage, make sure you discuss those needs with an agent. The last thing you want is to be underinsured.

Company Reputation

We tend to lean towards companies that have been in business for a long time. The Hartford and Travelers have been around for 200+ and 160+ years, respectively.

Lots of other insurance providers on our list have been around for roughly 100 years as well.

These companies have seen it all. They understand everything there is to know about the insurance industry, and your claim won’t surprise them. Plus, a well-established company has stood the test of time. You know that natural disasters won’t bankrupt them, so your policy is safe.

There are some newer insurance companies, like AmTrust and Founder Shield, that provide unique solutions for niche industries.

Getting a policy through one of those providers definitely has some risk. But it can still be a viable option if you’re looking for rare or specialized coverages.

Claims Process

Having business insurance is like having a good lawyer. You hope you never have to use it. But when something comes up, you want to make sure that everything goes smoothly.

The best business insurance companies have an easy claims process. Depending on your preferences, you can file a claim online or over the phone in minutes.

An adjuster will be highly responsive and settle the claim as fast as possible.

If one of your company vehicles is involved in an accident or a piece of equipment breaks during a flood, you don’t want operations to be stalled because of the insurance company dragging their feet.


Price is obviously a top consideration when evaluating business insurance.

Weigh the cost of your monthly and annual premiums against the amount of coverage you’re getting in a policy.

Always shop around for business insurance. Get quotes from a handful of providers to get a better sense of the market. You can potentially use one quote as leverage to lower another one. These companies want your business, so there could be some room for negotiation.

Just know that some insurance providers, like Chubb, will usually have higher prices for their policies.

Customer Service

Customer service goes a long way in the insurance industry. Aside from renewing or updating your policy, it’s generally not good news if you need to contact your insurance provider.

During these difficult and stressful times, it’s important that you receive excellent customer service. You want someone to answer the phone as opposed to going through ten minutes of speaking to a robot, followed by another 45 minutes on hold.

The best business insurance companies understand your needs at every level. From the sales agent to the adjuster and claims department, great service will make your life much easier.

The Best Business Insurance in Summary

Hopefully, you’ll never have to use your business insurance. But just like car insurance or health insurance, protecting your business from unexpected situations is crucial.

From filing a claim to getting assistance with your agent or adjuster, service varies from company to company. Some business insurance companies specialize in specific industries, such as retail, restaurants, or tech. Other companies concentrate on certain types of coverage, like commercial auto or workers’ compensation.