Investopedia’s research ranks The Hartford as the best small business insurance provider for March 2025. The evaluation included 16 insurance providers, considering customer complaints, financial strength, and coverage offerings. With comprehensive plans and high coverage limits, The Hartford protects businesses from risks like lawsuits, natural disasters, and operational interruptions. It also offers digital tools for claims and bill payments, ensuring a seamless experience for business owners.
Top Small Business Insurance Providers for March 2025
- Best Overall: The Hartford
- Best for Low Customer Complaints & Brick-and-Mortar Businesses: CNA
- Best for Independent Contractors: Thimble
- Best for Workers’ Compensation: Huckleberry
- Best for Most Coverage Types: Nationwide
- Best for Financial Stability: Travelers
- Best for Online Experience: NEXT Insurance
Best Overall: The Hartford
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Investopedia Rating: 4.8/5
Customer Complaints: About average
Liability Coverage Limit: Up to $4 million
Why We Chose It
The Hartford provides multiple coverage options, high liability limits, and strong digital tools. However, it receives more complaints than expected regarding its liability, auto, and workers’ compensation insurance.
Pros and Cons
Pros
- Wide selection of coverage options
- High liability coverage limits (up to $4 million)
- 10 percent discount when bundling a business owner’s policy (BOP) with workers’ compensation insurance
Cons
- Higher-than-average customer complaints
- Below-average customer satisfaction score from J.D. Power
Overview
Founded in 1810, The Hartford has offered small business insurance for 50 years. Its Business Owner’s Policy (BOP) includes:
- General liability insurance
- Commercial property insurance
- Business income insurance
Average cost: $85 per month, varying based on business type, location, and coverage needs.
Additional Coverage Options
- Workers’ compensation
- Data breach insurance
- Professional liability
- Commercial auto insurance
- Business interruption insurance
Despite its strong coverage, The Hartford has more customer complaints than expected, suggesting potential claims processing and service delays.
Best for Low Customer Complaints & Brick-and-Mortar Businesses: CNA
Investopedia Rating: 4.3/5
Customer Complaints: Much lower than average
Liability Coverage Limit: Up to $4 million
Why We Chose It
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Why We Chose ItCNA has the lowest customer complaint rate among insurers reviewed and offers comprehensive commercial property insurance.
Pros and Cons
Pros
- Fewer customer complaints than competitors
- Highly customizable business policies
Cons
- No coverage for home-based businesses
- No digital proof of insurance (COI)
Overview
Founded in 1897 and headquartered in Chicago, CNA offers its CNA Connect BOP, covering 600+ business types, including:
- Retail businesses
- Manufacturing companies
- Professional services
Key Features
- 3% inflation protection to automatically adjust coverage for rising costs
- No coverage penalties if property isn’t insured up to 80% of its value
However, CNA does not offer home-based business coverage and lacks digital proof of insurance, which may be inconvenient for freelancers and independent contractors.
Best for Independent Contractors: Thimble
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Investopedia Rating: 4.4/5
Customer Complaints: Less than average
Liability Coverage Limit: Up to $2 million
Why We Chose It
Thimble offers short-term liability coverage, ideal for freelancers and independent contractors who need on-demand protection.
Pros and Cons
Pros
- Flexible, on-demand business insurance
- Low customer complaint rate
Cons
- No employment practices liability insurance (EPLI)
- Claims are handled by third-party insurers (Markel, National Specialty Insurance Company)
Overview
Founded in 2018, Thimble specializes in short-term liability insurance for:
- Freelancers
- Consultants
- Project-based contractors
Policies start at $17 per month, but Thimble does not offer EPLI, which protects against discrimination or wrongful termination lawsuits.
Best for Workers’ Compensation: Huckleberry
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Investopedia Rating: 4.4/5
Customer Complaints: Lowest among reviewed companies
Why We Chose It
Huckleberry provides fast, paperless quotes for workers’ compensation insurance and has the lowest complaint rate in this category.
Pros and Cons
Pros
- Simple online application process
- Low complaint rate
Cons
- Claims are processed by third-party insurance partners
Overview
Huckleberry offers workers’ compensation insurance and additional small business coverage, including:
- Business interruption insurance
- General liability
- Equipment breakdown
However, claims must be filed over the phone with partner insurers like AmTrust and Chubb.
Best for Most Coverage Types: Nationwide
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Investopedia Rating: 4.0/5
Customer Complaints: Lower than average
Why We Chose It
Nationwide offers a broad range of business insurance policies, including coverage for home-based businesses.
Pros and Cons
Pros
- Covers home-based businesses
- Offers key-person insurance
Cons
- No digital certificate of insurance
Overview
Founded in 1926, Nationwide provides coverage for:
- Retailers
- Auto services
- Food services
Key-person insurance protects businesses if a crucial employee dies or becomes disabled.
Best for Financial Stability: Travelers
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Investopedia Rating: 3.9/5
Customer Complaints: Lower than average
Why We Chose It
Travelers has strong financial backing, ensuring it can pay large claims reliably.
Pros and Cons
Pros
- High financial strength ratings
- Comprehensive business coverage
Cons
- No online quotes
Overview
Founded in 1864, Travelers specializes in high-limit business insurance for:
- General liability
- Cyber liability
- Commercial auto insurance
However, business owners must contact an agent to obtain coverage details.
Best for Online Experience: NEXT Insurance
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Best for Online Experience: NEXT InsuranceInvestopedia Rating: 3.8/5
Customer Complaints: Higher than average
Why We Chose It
Next Insurance provides a fully digital insurance experience with quick quotes and online claim processing.
Pros and Cons
Pros
- Live customer service chat
- Digital certificates of insurance
Cons
- Low liability limits compared to competitors
- High customer complaint rate
Overview
Founded in 2016, Next Insurance is ideal for small businesses seeking quick, online insurance solutions. However, its liability limits are lower than competitors.
Final Thoughts
- Best Overall: The Hartford
- Best Customer Complaint Record, Best for Brick-and-Mortar Businesses: CNA
- Best for Independent Contractors: Thimble
- Best for Worker’s Compensation: Huckleberry
- Best for Most Coverage Types: Nationwide
- Best for Financial Stability: Travelers
- Best Online Experience: NEXT Insurance
Choosing the right business insurance depends on your business type, coverage needs, and budget. Carefully compare liability limits, policy terms, and claim processes before selecting a provider.
