Best small business insurance companies of 2025

The full list of the top business insurance companies, with a look at their coverage options, follows:

Rank	Company	Overall stars (out of 5)
1	Allstate	5.00
2	American Family	4.97
3	Philadelphia Insurance	4.83
4	Chubb	4.75
5	State Farm	4.43
6	The Hartford	4.28
7	Travelers	4.27
8	AIG	3.98
9	Farmers	3.92
10	CNA Insurance	3.91
11	Nationwide	3.89
12	Liberty Mutual	3.88

Our list of the best small business insurance companies includes well-known national carriers, such as Allstate and State Farm, and others, like Philadelphia Insurance, specializing in commercial insurance.

1. Allstate - 5.0

J.D. Power Score: 716

NAIC Complaint Index (Property): 0.35

AM Best Rating: A+

NAIC Complaint Index (Liability): 0

Our Take

Allstate is our choice as the best overall small business insurer because of its strong customer service ratings, low number of complaints and financial strength. Allstate has several coverage options, including business interruption and cyber insurance, and has many optional riders you can add to your policy to customize your coverage, including equipment breakdown insurance. Allstate, along with American Family, had the best NAIC complaint rating (liability) of the companies we ranked and the third-highest J.D. Power score.

Pros:

High customer satisfaction ratings
Low number of complaints
Multiple coverage add-ons

Cons:

Policies cannot be purchased online
Not all businesses are eligible for coverage

Coverages

Among the policies Allstate offers small businesses:

Cost

To get an Allstate-specific quote, you have to contact an agent. Although you can request a quote online, it isn't from Allstate; instead, Allstate will refer you to small business insurance broker Insureon, its partner, which includes quotes from other insurers.

About the company

Allstate was founded in 1931 and is best known for its personal insurance lines; it serves more than 16 million households. However, it is also a major commercial insurance company, offering policies for small business owners. Policy options include business owner's policies (BOPs), general liability coverage, professional liability insurance, commercial auto insurance and workers' compensation.

2. American Family – 4.97

J.D. Power Score: 727

NAIC Complaint Index (Property): 0.82

AM Best Rating: A

NAIC Complaint Index (Liability): 0

Our Take

American Family was the top-ranked insurer for customer satisfaction in the J.D. Power U.S. Small Commercial Insurance Study and had a high AM Best rating, A, and a great liability complaint score from NAIC. The insurer offers multi-policy and other discounts to make your small business insurance more affordable.

Pros:

Top-ranked for customer satisfaction
Coverage for farms and ranches
Policies for landlords

Cons:

Online quotes are not available for all products
Limited policy information online

Coverages

Among the policies American Family offers small businesses:

Cost

American Family doesn't have an online quote tool for many insurance products, and it doesn't disclose its pricing information online

About the company

American Family was founded in 1927. Aside from traditional business insurance policies, it also has coverage options for farms and ranches, including insurance for livestock, tractors and farm equipment. It has an A rating from AM Best. It issues policies in all 50 states.

3. Philadelphia Insurance – 4.83

J.D. Power Score: 702

NAIC Complaint Index (Property): 0.33

AM Best Rating: A++

NAIC Complaint Index (Liability): 0.24

Our Take

The company had the third-best NAIC liability score among the companies we ranked and the highest possible AM Best rating, A++. Also noteworthy: Typical commercial policies don't offer flood protection, and not all insurers provide commercial flood insurance, which makes Philadelphia Insurance stand out. Business owners can protect their businesses with one of three flood insurance programs. Philadelphia Insurance also offers a variety of other coverage options, including specialized insurance packages.

Pros:

Lower number of complaints than most
Offers commercial flood insurance
Specialized coverage options are available

Cons:

No online quotes
BOPs are limited to businesses with less than $5 million in revenue

Coverages

Among the policies Philadelphia Insurance offers small businesses:

Cost

Philadelphia Insurance doesn't have an online quoting tool or provide pricing information on its website.

About the company

Philadelphia Insurance was launched in 1962. The Pennsylvania-based company serves business owners in most states, with the exception of Louisiana and New York. The insurer has an excellent reputation for customer satisfaction and strong financial strength ratings.

4. Chubb - 4.75

J.D. Power Score: 703

NAIC Complaint Index (Property): 0.30

AM Best Rating: A++

NAIC Complaint Index (Liability): 0.66

Our Take

Chubb has a broad range of coverage options and tools, so it's easy to understand why it's so popular. It had the best possible AM Best rating, A++, and the fourth-highest J.D. Power score. Also noteworthy: While some companies limit small business BOPs to businesses with less than $5 million in revenue, Chubb offers policies for businesses with up to $30 million in revenue.

Pros:

Higher revenue limit for BOPs
Digital shopping tools
Multiple coverage options

Cons:

Separate site for some insurance types
Online quotes are only available for some businesses

Coverages

Among the policies Chubb offers small businesses:

Cost

Chubb's rates tend to be affordable; its quotes for BOP coverage were under $500 per year, which is better than the average of the companies we evaluated.

About the company

Chubb is a global insurer based in Switzerland. The company traces its roots back to 1792 and operates in 54 countries and territories today. It serves large, mid- and small-sized businesses, providing commercial auto, BOPs, general liability, professional liability and other coverage options.

Read more about: Chubb small business insurance review

5. State Farm - 4.43

J.D. Power Score: 719

NAIC Complaint Index (Property): 2.01

AM Best Rating: A++

NAIC Complaint Index (Liability): 1.53

Our Take

State Farm is the second-place ranked company in the J.D. Power U.S. Small Commercial Insurance Study for customer satisfaction, and it also has the highest-possible financial strength rating from AM Best. For those who like to handle their policies online, State Farm has an award-winning digital portal and mobile app, making it easy to get help with your policy or claim.

Pros:

Specialized contractor coverage
Highly rated for customer satisfaction
Highly rated mobile app and digital tools

Cons:

Policies cannot be purchased online
Online quotes unavailable

Coverages

Among the policies State Farm offers small businesses:

Cost

State Farm doesn't disclose its typical pricing or offer an online quotes tool.

About the company

State Farm was founded in 1922 and is the largest property and casualty insurer in the country. Through State Farm, business owners can purchase commercial auto, BOPs and specialized coverage, such as policies for contractors.

6. The Hartford – 4.28

J.D. Power Score: 685

NAIC Complaint Index (Property): 0.59

AM Best Rating: A+

NAIC Complaint Index (Liability): 0.59

Our Take

The Hartford is a good choice for business owners who run their businesses out of their homes; it has policies specifically for home-based businesses. The Hartford is also one of the few insurers that allows you to submit claims and request policy changes online.

Pros:

Home-based businesses insurance
Submit claims online
Online quotes available

Cons:

Not available in Alaska or Hawaii
Policies cannot be purchased online

Coverages

Among the policies The Hartford offers small businesses:

Cost

The company's website says its customers pay an average of $1,019 per year for BOPs, which is slightly higher than the average of companies we evaluated. Also something to note: The Hartford allows business owners to start the quote process online, although not all businesses are eligible for online quotes.

About the company

The Hartford is one of the oldest insurers in the country. The Connecticut-based company was founded in 1810 and today insures residents and businesses in all states except for Alaska and Hawaii. It has coverage options for small and large businesses, including sole proprietors.

7. Travelers – 4.27

J.D. Power Score: 679

NAIC Complaint Index (Property): 0.59

AM Best Rating: A++

NAIC Complaint Index (Liability): 0.71

Our Take

Travelers stands out for its exceptional Financial Strength Rating; AM Best gave the company an A++, the highest-possible rating, so you can be confident that it can afford to pay out any claims in the future. And, it has powerful online tools to manage your policy, including an online claims tool.

Pros:

Risk management tools
Offers industry-specific insurance packages
Online claims process

Cons:

No online quotes are available
Limited details online

Coverages

Among the policies Travelers offers small businesses:

Business owner’s policy
Commercial auto
Commercial property
Cyber
Employment practices liability
General liability
Management and professional liability
Umbrella
Workers' compensation

Cost

Travelers doesn't offer online quotes, so we were unable to secure pricing information.

About the company

Travelers is the largest commercial insurance company based on 2024 direct premiums written, according to the Insurance Information Institute's analysis. The company's history dates back to 1864.

The company offers a variety of insurance products and packages of coverage for specific industries, simplifying the insurance shopping process. For example, business owners in the food services industry can use Travelers to find policies specific to restaurants and wineries.

8. AIG - 3.98

J.D. Power Score: 675

NAIC Complaint Index (Property): 0.44

AM Best Rating: A

NAIC Complaint Index (Liability): 0.88

Our Take

AIG is a good choice for companies that do business in different countries. It is financially strong and receives fewer customer complaints than one would expect from an insurer its size – it has one of the best NAIC property scores of the companies we ranked. It has a diverse set of policy offerings that companies of any size would find interesting, including kidnap and ransom insurance. It also customizes policies for different industries, including aerospace and energy.

Pros:

Fewer complaints than expected for a company its size
Global reach

Cons:

Had a J.D. Power customer satisfaction score slightly below average

Coverages

Cyber
Directors and officers
Management liability
Professional liability
Property
Workers’ comp

Cost

AIG doesn’t publish rates on its website. You need to contact the company or one of its agents.

About the company

AIG, or American International Group, is a global insurance company that’s been in operation for more than 100 years. The company originated in Shanghai, China, and now does business in about 200 countries. The company offers a wide set of insurance products, from business to auto to life to accident and health – in fact, the company is the 11th largest commercial auto insurer in the U.S. and the 12th largest provider of workers’ comp, according to the NAIC.

9. Farmers - 3.92

J.D. Power Score: 683

NAIC Complaint Index (Property): 0.60

AM Best Rating: A

NAIC Complaint Index (Liability): 1.44

Our Take

Farmers is a good insurer for companies looking to tailor their insurance. It offers customized policies for many businesses, including contractors, manufacturers, restaurants, retail stores and wholesalers. It’s financially strong. And small businesses might find it interesting that the company’s agents are independent business owners who, the company says, can relate well to other small business owners.

Pros:

Financially strong
Insurance is available around the country

Cons:

Has a J.D. Power customer satisfaction score slightly below average
Has more liability complaints than would be expected for a company its size

Coverages

Among the policies Allstate offers small businesses:

Auto
Crime
Liability
Property
Workers’ comp

Cost

Farmers doesn’t publish rates on its website, but it has an online quoting tool.

About the company

Farmers was founded in an office in downtown Los Angeles in 1928 – a year before the Great Depression. Farmers was the first major insurer to offer a monthly payment plan that didn’t charge customers any interest. Today, the company counts millions of households and businesses in every state and the District of Columbia as customers. The company is ranked among the best car insurance companies and best home insurers by Insure.com.

10. CNA Insurance – 3.91

J.D. Power Score: 690

NAIC Complaint Index (Property): 1.13

AM Best Rating: A

NAIC Complaint Index (Liability): 1.51

Our Take

CNA had the second-best NAIC score of the companies we ranked. It also has a robust risk control program. Business owners can take advantage of the program to access tools, educational materials and guides on how to minimize risks specific to their industry. For example, there are risk control programs for accountants, real estate, healthcare and more.

Pros:

Risk control programs
Insurance bundles available

Cons:

Slightly lower-than-average customer satisfaction ratings
No online quotes

Coverages

Among the policies CNA offers small businesses:

Cost

CNA doesn't have an online quoting tool or provide pricing details on its website. Potential customers must work with an agent to get details on policies and costs.

About the company

CNA is the seventh-largest commercial insurer in the country. Based in Chicago, the insurer serves business owners in all 50 states. Customers can access the company’s consulting services for specific exposures, such as business interruption and property risks.

11. Nationwide: 3.89

J.D. Power Score: 701

NAIC Complaint Index (Property): 2.30

AM Best Rating: A

NAIC Complaint Index (Liability): 1.32

Our Take

Nationwide has an above-average J.D. Power score and is financially stable. Its coverage options for small and mid-sized businesses include BOPs for businesses with up to $5 million in sales. It also offers specialized coverage options that many other insurers do not, such as accounts receivable coverage in case you're unable to collect payments from a client.

Pros:

Accounts receivable coverage
Part-time freelance coverage
Specialized liability coverage

Cons:

Limited online tools
Online quotes are only available for businesses
Higher-than-usual number of complaints

Coverages

Among the policies Nationwide offers small businesses:

Cost

Nationwide allows some businesses to receive quotes online, but it doesn't offer online quotes in every industry or location. For example, we were unable to secure quotes online for a Florida-based business.

About the company

Nationwide was launched in 1926. Since then, it has grown to become a major insurer. It provides multiple commercial insurance products, including general liability, professional liability and workers' compensation.

12. Liberty Mutual - 3.88

J.D. Power Score: 696

NAIC Complaint Index (Property): 1.34

AM Best Rating: A

NAIC Complaint Index (Liability): 1.88

Our Take

Liberty Mutual offers several coverage options, including BOPs, commercial umbrella policies and niche insurance policies for contractors and fleet owners. It's best for those who prefer to work with an agent rather than handling everything online.

Pros:

Niche coverage available
Risk control services

Cons:

Slightly below-average customer satisfaction ratings
Quotes are only available through a third party
Claims only submitted over the phone

Coverages

Among the policies Liberty Mutual offers small businesses:

Cost

Liberty Mutual partners with Tivly to allow customers to get coverage quotes. However, not all business types are eligible for online quotes; we received a notification that we'd have to speak with an agent to get pricing information. As a result, we were unable to secure typical pricing.

About the company

Liberty Mutual is the third-largest writer of commercial insurance based on a 2024 Insurance Information Institute analysis of direct premiums written. It has an A rating from AM Best. The company, based in Massachusetts and in business since 1912, serves customers nationwide.

Top regional small business insurance companies

Although national carriers get the most attention, many regional small business insurance companies have excellent reputations, competitive prices and responsive customer service. We classified regional companies as those that don’t do business in most states.

If we had included the regional insurers in our overall ranking, three of them – Erie, The Hanover and Auto-Owners – would have made the top list.

Broadening the scope of our small business insurance rankings to include regional carriers and then recalculating based on the curve used for the national companies, the best carriers stack up like this:

Rank	Company	Overall stars (out of 5)
1	Allstate	5.00
2	American Family	4.94
3	Philadelphia Insurance	4.88
4	Chubb	4.83
5	State Farm	4.52
6	Travelers	4.42
7	The Hartford	4.41
8	Erie Insurance	4.36
9	The Hanover	4.17
10	AIG	4.14
11	Farmers	4.11
12	CNA Insurance	4.08
13	Liberty Mutual	4.05
14	Nationwide	4.01
15	Auto-Owners Insurance	3.94

Erie

Erie has a relatively small footprint. It only serves clients in 12 states – Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin – and the District of Columbia. However, it's a top-ranked small business insurer; it was ranked fourth in the J.D. Power U.S. Small Commercial Insurance Study, beating out major competitors including Chubb and Nationwide.

Erie offers a variety of commercial insurance products, including coverage packages for restaurants, auto service providers, contractors and religious organizations.

The Hanover

The Hanover operates offices in 28 states and the District of Columbia and offers a broad range of insurance products, including BOPs, cyber coverage, inland marine insurance, and workers' compensation. It also provides robust online resources and tutorials on topics including sickness prevention and risk prevention and minimization.

Auto-Owners

Auto-Owners, which does business in 26 states and is represented by 48,000 licensed agents, serves businesses big and small. Among its offerings: commercial auto, liability, inland marine, property, workers’ comp and commercial umbrella as well as surety bonds and loss control services – such as risk management and safety consulting. It offers customized coverage for contractors, manufacturers, restaurants, retailers and others. It’s financially strong and has a good NAIC property rating.

How we ranked the best small business companies

To identify the top business insurance companies, we looked at the following factors:

J.D. Power customer satisfaction scores. We reviewed the annual J.D. Power U.S. Small Business Insurance Study, a major indicator of customer satisfaction. The average J.D. Power score is 697 out of 1,000, and all the companies on our list were near or above that mark.
National Association of Insurance Commissioners (NAIC) Index. The NAIC, a research and advocacy organization, maintains a national index based on the number of complaints a company receives relative to its market share. The organization looks at both for liability and property coverages. We prioritized companies with a lower-than-average complaints, meaning a score below 1.00.
AM Best ratings. AM Best, a credit-rating agency, evaluates the insurance industry. It issues financial strength ratings based on its opinion of a company's ability to pay out future claims. We focused on companies with a rating of A (Excellent) or better. All AM Best ratings are as of June 18, 2025.

We took these three sources – J.D. Power, NAIC, AM Best – and gave them equal weights (33.33% - NAIC property and liability each getting 16.67%) to calculate a raw score for each company. We then applied a curve to give the top company five stars and award successive companies on the list a star ranking based on that curve.

We limited our ranking to companies that offer insurance nationally.

Below, you'll find reviews of the top business insurance companies.

How to choose the right small business insurance for your business

There are many types of business insurance. When deciding what coverage to get and which insurer to work with, ask yourself the following questions:

Is my business at risk of natural disasters? If you operate in an area prone to hurricanes, earthquakes, floods or winter storms, you may need commercial property insurance to cover your buildings, equipment and inventory.
Is my industry a dangerous one? If your business is in a high-risk industry, such as construction, you need extra liability coverage for your workers, along with workers' compensation.
Do I handle sensitive information? Businesses that store client or customer data, including contact information or billing details, will need cyber insurance to protect against data breaches.
Do customers visit my premises? If your place of work is open to the public, you will probably need general liability protection against claims of bodily injury.
Do I give professional advice? Financial advisors, real estate agents, lawyers, doctors, consultants and others who provide expert advice may need errors and omissions (E&O) coverage to protect against any claims of negligence or mistakes.

How much small business insurance do you need?

Each company is different and insurance needs vary by business, location, employees and other factors.

Most small businesses need a set of policies that includes workers’ compensation to cover employee injuries, commercial auto to cover claims involving business vehicles and general liability to cover bodily injury and property damage. Some companies buy a business owners’ policy, or BOP, which combines general liability and commercial property insurance into one package

Many also obtain commercial property, employer’s liability and umbrella insurance.

For each policy you choose, you’ll need to figure out coverage amounts. Below is our analysis of some common small business insurance policies:

General liability insurance financially protects businesses from bodily injury, property damage and personal injury claims. Our research found that a typical small business GL policy covers $1 million for each incident and $2 million in total across all claims in a year.
Commercial property liability insurance covers a company’s physical assets — such as buildings, equipment, inventory and furniture. Our analysis found that many policies start at $10,000 to $25,000, but you can increase your protection as needed.
A BOP combines general liability and property insurance. We found policy limits in the $1 million to $2 million range.

How much is small business insurance?

The cost of small business insurance can vary significantly by industry, company size and coverage. Our analysis finds that a basic business owner's policy (BOP) ranges in price from $500 to $1,500 per year.

Below is a look at average annual premiums for some of the more common commercial insurance policies, according to Insureon.

Small business insurance costs
Policy	Avg annual rate
Business owner's policy	$684
Commercial auto	$1,762
Commercial property	$800
Commercial umbrella	$900
Cyber	$1,740
Directors & officers	$1,653
General liability	$500
Professional liability / E&O	$735
Workers' comp	$542

What our expert says

Q: What should small business owners look at when deciding on an insurer?

Ciara Gravier Founder and CEO of The Bunker Insurance and Risk Management.

"When comparing insurance companies, it’s essential for business owners to look beyond the premiums and focus on three key factors: coverage scope, customer service and the insurer’s reputation in the industry."

Frequently asked questions

What is the best small business insurance?

The best small business insurance company is one that provides the coverage you need at a price that your company can afford. According to our analysis, Allstate is the best small business insurance carrier, with a score of 5 out of 5. It offers a wide variety of coverage options, has a high score from market research firm J.D. Power, and a strong AM Best financial strength rating.

However, another national or regional insurer may serve your needs better. Talk with an independent insurance agent or broker about your small business insurance needs to find the company that is your best option.

What is the best liability insurance for small business?

Business liability insurance protects businesses from financial losses due to claims of property damage, bodily injury, or accusations of libel and slander. The most common forms of coverage are general liability insurance and professional liability insurance. As with other types of small business insurance, the best liability insurance company for you will be the one that provides the coverage you need at a price you can afford.

Carriers that offer general liability and professional liability insurance include Allstate, Chubb, The Hartford, State Farm and Travelers, all of which are included in our 10 Best Small Insurance Companies ranking.

How often should I review my insurance coverage?

Like other insurance products, requesting quotes and comparing your options can be a smart way to save money on business insurance. How often you should shop around depends on your business.

"If you have a lot of unexpected growth, you should update your insurance agent. Outside of this, at the very least review your policy annually with your insurance agent," Gravier says.

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