We analyzed the official complaint records of 28 insurers and found that Allianz and Clear Blue are the best small business insurance companies.
Small business insurance will cover your company from a variety of issues, like workplace injuries, stolen business property, fire, severe weather and lawsuits. But with so many options available, finding the right policy can be challenging. We’ll help you identify the best small business insurance companies to meet your needs.
The Best Small Business Insurance Companies
Allianz
Complaint level
Extremely low
A.M. Best financial strength rating
A+ (Superior)
While Allianz may be better known for insuring large global enterprises, small businesses can also take advantage of its insurance industry acumen.
- Provides risk consulting for all industries.
- Allianz’s Crisis Management team helps businesses navigate terrorism, political violence and hostile environments.
- Recognized as a Sustainable Insurer by the Dow Jones Sustainability Index in 2022 because of its work to integrate sustainability and climate actions into its global business.
Clear Blue Insurance
Complaint level
Extremely low
A.M. Best financial strength rating
A- (Excellent)
Clear Blue provides business insurance through partner agencies, not directly to small businesses. Available coverage types include all the essentials such as general liability, inland marine, commercial property and employment practices insurance.
- Operates in all states and Washington, D.C.
- Specializes in providing insurance programs by partnering with managing general agencies, reinsurers and others.
Farmers Insurance
Complaint level
Extremely low
A.M. Best financial strength rating
A (Excellent)
You’ll find a wide variety of commercial coverage types and the assistance of a Farmers agent.
- Provides useful information on its website explaining business insurance coverage types.
- Offers workplace safety videos and material, called MySafetyPoint, without extra charge to its business insurance customers.
- Has online business insurance quotes.
- You can submit a business insurance claim online.
Acuity
Complaint level
Very low
A.M. Best financial strength rating
A+ (Superior)
Acuity works through local agents to provide insurance for a wide variety of businesses, from hotels to auto repair shops to retailers and restaurants.
- The Acuity Nurse Helpline can facilitate access to the appropriate health care for your injured employees.
- Provides on-site loss control consultation and training.
- Offers a free online newsletter that addresses the specific concerns of truckers.
- Has a variety of videos with insurance information for various professions, such as construction and retail.
- Offers online business insurance quotes.
CNA
Complaint level
Very low
A.M. Best financial strength rating
A (Excellent)
CNA has an excellent complaint track record. With over 300 coverage types available from CNA, you’ll have plenty of options to find the right business insurance fit.
- Industries that can be covered by CNA business insurance include construction, health care, financial institutions, law firms, manufacturing and more.
- CNA’s PrepWise provides a number of risk management services, such as cybersecurity awareness and ways to improve ergonomics in the workplace.
- Offers a pay-as-you-go workers compensation insurance option, so that small businesses can budget better.
- Has online business insurance quotes.
- Offers online claims filing.
Travelers
Complaint level
Very low
A.M. Best financial strength rating
A++ (Superior)
As one of the largest insurers for commercial insurance on our list, Travelers also boasts very few complaints about its business insurance. Its wide range of commercial insurance solutions are available through independent agents.
- Offers TravPay, a pay-as-you-go workers compensation system that links your payroll directly to your workers compensation premiums, so you don’t have to guess the amount of annual payroll.
- Travelers’ TravComp is a workers compensation claims system that includes a dedicated return-to-work team of nurses and claims professionals with the goal of getting employees back to work quickly.
- Risk control resources include self-service material such as checklists.
- A variety of online services includes bills and payment histories, certificates of insurance and checking the status of claims.
Frankenmuth Insurance
Complaint level
Very low
A.M. Best financial strength rating
A (Excellent)
Frankenmuth has customized, business-specific insurance packages for operations such as retail stores, manufacturing and small offices. Frankenmuth is a regional carrier operating in 15 states in parts of the Midwest and Southeast.
- Frankenmuth insurance is sold by local independent agents.
- Types of businesses that can be insured by Frankenmuth include retail stores, contractors, personal services and wholesalers.
Cincinnati Insurance
Complaint level
Very low
A.M. Best financial strength rating
A+ (Superior)
Cincinnati Insurance sells its coverage through local independent agents who will tailor coverage to fit the needs of a business. Cincinnati’s business insurance is available in most states.
- Industries that can be covered include craft beverages, dentists, manufacturers, medical facilities, retail and more.
- The CinciPlus package combines expanded coverage types at a cost-savings from buying them separately. Cincinnati Insurance also offers CiniPak, which bundles coverage geared toward business types such as retail stores.
- Cincinnati’s three-year commercial package policy lets you lock in rates that won’t increase for the duration of your policy term. (Rates may change if your business’s needs change.)
- Complimentary loss control services can help you identify and manage workplace accidents, injuries and other problems.
Westfield Insurance
Complaint level
Very low
A.M. Best financial strength rating
A (Excellent)
Selling business insurance in 21 states, Westfield Insurance has a notable track record for low complaints.
- With its Westfield Signature Series you can bundle together optional coverage types to address your specific business size and type.
- Among the top sellers of farm business policies.
Chubb
Complaint level
Very low
A.M. Best financial strength rating
A++ (Superior)
Chubb’s small business insurance targets small businesses with up to $30 million in revenue.
- Chubb offers insurance for operations such as cultural institutions, food services, health care, manufacturers, retail stores and technology.
- Small business owners may want to check out Chubb’s Business Owners Policy (BOP), which provides a blanket limit for property coverage so you have flexibility in where to spend a claim payment after a loss.
- Chubb’s BOP can be customized with coverage types such as flood insurance, electronic data liability, equipment breakdown, professional liability and other valuable protection.
What Are the Different Types of Small Business Insurance?
When buying small business insurance, your coverage decisions depend on your business’s type, size and specific risks. Common types of small business insurance include general liability, commercial property, and workers’ compensation insurance.
 | General LiabilityGeneral liability insurance covers your business against liability claims, such as bodily injury and property damage to others. It also includes coverage for damage to reputation, such as slander, libel and copyright infringement. It also covers legal costs, settlements and judgments. |
 | Commercial PropertyCommercial property insurance covers the physical property of your small business against problems, such as fire damage or theft. It covers business items, including computers and workstations, desks and chairs, business records, business inventory and supplies. It can also cover your office and business building. |
 | Workers’ CompensationWorkers’ compensation insurance covers your employees if they become ill or injured because of their job. This includes medical care, physical therapy and compensation for lost wages. Death benefits for an employee’s family are available if an employee passes away from a work-related illness or injury. Workers compensation insurance is required in most states, even if you have only one employee. |
 | Commercial AutoCommercial auto insurance covers the vehicles you use for business purposes, such as cars, trucks and vans. A personal auto insurance policy generally doesn’t extend to business use of a vehicle. |
 | Errors & OmissionsErrors & omissions insurance (E&O) will pay for liability costs if a customer or client accuses you of making a mistake in your professional services. E&O is also called professional liability insurance. |
 | Inland MarineInland marine insurance covers business property that’s being transported over land, such as equipment, materials, products and tools. This coverage is different from marine insurance, which covers your business property while it’s being transported over water. |
 | Cyber LiabilityCyber liability insurance can pay for recovery costs if your computer system and data gets hacked. It also helps pay for expenses, such as notifying customers who have been impacted by a data breach and credit monitoring. |
| Short-Term LiabilityShort-term liability insurance is designed for short projects, such as an hour, day, week or month. It covers accidental property damage and bodily injuries caused to others. It also covers your legal costs, judgments and settlements if you’re sued because of an accident. |
 | Medical MalpracticeAlso known as medical professional errors and omission insurance, medical malpractice insurance |
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