General liability insurance is a crucial safeguard for small businesses.
It protects against common risks like property damage, bodily injury, and advertising mistakes.
As a small business owner, you need coverage that fits your specific needs and budget while providing comprehensive protection.
The best general liability insurance for small businesses offers affordable premiums, tailored coverage options, and reliable claims processing. By choosing the right policy, you can focus on growing your business with peace of mind, knowing you’re protected against potential lawsuits and financial losses.
Let’s explore some top options to help you make an informed decision for your company.
1) Hiscox
Hiscox is a prominent provider of general liability insurance for small businesses.
They offer tailored coverage options to protect your business from various risks and liabilities.
When you choose Hiscox, you can expect competitive pricing for their policies. Most small businesses pay around $30 per month or less for general liability coverage through Hiscox.
The cost of your policy may vary based on several factors.
These include your business size, industry, location, and the amount of coverage you need.
Hiscox takes these elements into account to provide you with a customized quote.
Hiscox specializes in serving small businesses, particularly those in professional services.
They understand the unique challenges you face and offer coverage designed to meet your specific needs.
In addition to general liability insurance, Hiscox provides other types of business coverage.
You can obtain professional liability insurance and business owner’s policies through their platform.
To get started with Hiscox, you can easily request a quote online.
This allows you to see personalized pricing options for your business’s insurance needs.
Hiscox is known for its user-friendly approach and focus on small business owners.
They aim to make the process of obtaining and managing your insurance policy as straightforward as possible.
2) Next Insurance
Next Insurance offers general liability insurance tailored for small businesses across various industries.
You can easily obtain coverage through their user-friendly online platform.
With Next Insurance, you can get a free instant quote for your business.
This allows you to quickly assess the cost and coverage options available to you.
The company provides protection against common risks such as accidents and lawsuits.
This coverage can help safeguard your business from financial losses due to third-party claims.
Next Insurance aims to simplify the insurance process for small business owners.
Their digital-first approach means you can manage your policy entirely online.
You can customize your coverage based on your specific business needs.
This flexibility allows you to pay only for the protection that’s relevant to your operations.
The company offers 24/7 access to your certificate of insurance.
This feature enables you to provide proof of coverage to clients or landlords whenever needed.
Next Insurance prides itself on competitive pricing.
By operating primarily online, they can often offer lower rates compared to traditional insurers.
You can bundle general liability with other types of coverage, such as professional liability or workers’ compensation.
This can potentially lead to discounts on your overall insurance costs.
3) The Hartford
The Hartford is a well-established insurance provider offering comprehensive general liability insurance for small businesses.
With over 200 years of experience, they have a strong reputation in the industry.
When you choose The Hartford, you can expect coverage for common risks such as bodily injury and property damage claims.
Their policies are designed to protect your business from potential financial losses due to lawsuits or accidents.
The Hartford’s general liability insurance costs an average of $67 per month, or about $805 annually.
However, your actual premium may vary depending on factors like your business type, revenue, and number of employees.
You can easily customize your coverage to fit your specific business needs.
The Hartford offers additional options to enhance your protection, such as business property insurance and workers’ compensation.
One advantage of choosing The Hartford is their user-friendly online platform.
You can quickly obtain a quote and manage your policy through their website, making the insurance process more convenient for busy small business owners.
The Hartford also provides excellent customer support and claims handling.
Their experienced team can guide you through the claims process and help you resolve issues efficiently.
By selecting The Hartford for your general liability insurance, you’re partnering with a trusted provider that understands the unique challenges faced by small businesses.
Their comprehensive coverage options and competitive pricing make them a solid choice for many entrepreneurs.
4) Biberk
Biberk offers general liability insurance for small businesses with a focus on simplicity and affordability.
As part of the Berkshire Hathaway Insurance Group, Biberk brings financial stability and extensive experience to its insurance offerings.
You can easily get a quote and purchase policies online through Biberk’s user-friendly website.
This streamlined process saves you time and effort when securing coverage for your small business.
Biberk aims to provide cost-effective insurance solutions.
They claim to offer savings of up to 20% compared to other providers.
This can be particularly beneficial if you’re operating on a tight budget.
The company takes a tailored approach to insurance.
When you request a quote, Biberk considers factors such as your industry, business size, and specific needs to determine the appropriate level of coverage for your situation.
Biberk’s general liability policies can be customized to fit your business requirements.
You have the flexibility to adjust coverage limits and add endorsements as needed.
Claims management is also handled online, allowing you to file and track claims conveniently through your account.
This digital-first approach can simplify the claims process for busy business owners.
Biberk’s financial strength is noteworthy, with its major insurance subsidiaries receiving an A++ rating from A.M. Best Company.
This rating indicates a superior ability to meet ongoing insurance obligations.
5) Nationwide
Nationwide offers comprehensive general liability insurance for small businesses.
This coverage protects your company from potential financial losses due to accidents, injuries, or property damage claims.
Nationwide’s policies can be customized to fit your specific business needs.
You can choose from various coverage limits and options to ensure adequate protection for your company.
One of Nationwide’s strengths is its high customer satisfaction ratings.
The company earned top marks in J.D. Power’s 2023 Small Commercial Insurance Study, indicating that policyholders are generally pleased with their services.
In addition to general liability, Nationwide provides specialty coverages.
This allows you to bundle different types of insurance, potentially saving money and simplifying your policy management.
To get a quote, you can contact a Nationwide agent or call their dedicated business insurance line.
They offer personalized assistance to help you understand your coverage options and select the best policy for your needs.
Nationwide’s website also features resources for small business owners.
You can find information on risk management, policy details, and tips for protecting your business.
6) Travelers
Travelers offers comprehensive general liability insurance tailored for small businesses.
Their coverage protects you against various claims that could arise from your business operations.
You can expect protection from bodily injury, property damage, and advertising injury claims.
This insurance helps safeguard your business assets and reputation.
Travelers provides flexibility through their Business Owner’s Policy (BOP).
This combines general liability with commercial property insurance, offering a more cost-effective solution for your small business.
You can customize your coverage based on your specific industry needs.
Travelers serves a wide range of small businesses across different sectors.
The company offers additional options to enhance your protection.
You can add cyber liability or data breach coverage to your policy, addressing modern business risks.
Travelers has a strong financial standing, which means you can trust their ability to pay claims.
Their experience in the insurance industry spans over 160 years.
You can manage your policy online, making it convenient to access your insurance information.
Travelers also provides resources to help you understand and mitigate business risks.
When choosing Travelers, you benefit from their network of independent agents.
These professionals can guide you in selecting the right coverage for your small business needs.
7) Chubb
Chubb offers general liability insurance tailored for small businesses.
Their policies are designed to protect your business if someone files a claim or lawsuit against you for property damage or injury.
With Chubb, you can choose from a range of coverage options to fit your specific needs.
They understand that not all businesses require the same level of protection.
Chubb’s small business insurance is available for companies with up to $30 million in revenue.
This wide range allows many different types of small businesses to find suitable coverage.
You can expect superior underwriting expertise and world-renowned claims services from Chubb.
Their financial strength provides added security for your business.
Chubb’s general liability policies can be part of a broader risk management strategy.
They offer traditional insurance and alternative risk financing mechanisms to help manage your company’s liability risk.
When you choose Chubb, you’re selecting a provider known for its comprehensive coverage options.
Their policies can protect your business assets and help you navigate potential legal challenges.
To get started, you can easily request a quote through their website.
This allows you to explore the specific coverage options available for your small business.
8) Liberty Mutual
Liberty Mutual offers comprehensive general liability insurance for small businesses.
This coverage can protect your business from lawsuits related to personal injury, property damage, and other common risks.
You can customize your policy to fit your specific business needs.
Liberty Mutual provides coverage for over 300 classes of businesses, ensuring that your unique requirements are met.
The company offers the option to bundle general liability with property insurance in a Business Owner’s Policy (BOP).
This can be a cost-effective solution for many small businesses.
Liberty Mutual has a strong financial rating, which indicates stability and reliability in paying claims.
This can give you peace of mind when choosing an insurance provider.
You can get a quote online or work with an independent agent to tailor your coverage.
This flexibility allows you to choose the most convenient option for your business.
While Liberty Mutual offers competitive pricing, they may not always be the cheapest option.
However, their extensive coverage and reliable service can provide good value for your investment.
Customer reviews suggest that Liberty Mutual’s claims process is generally smooth and efficient.
This can be crucial when you need to file a claim and get back to business quickly.
9) State Farm
State Farm offers small business insurance to protect your company from unexpected risks.
Their coverage options include general liability, property insurance, and business owner’s policies (BOPs).
A Business Owners Policy from State Farm combines general liability and property insurance into one affordable package.
This can be an excellent choice for small to medium-sized businesses like hair salons, florists, and photographers.
State Farm provides insurance for over 200 professions across various industries.
This wide range of coverage options allows you to find a policy tailored to your specific business needs.
To get a quote for State Farm business insurance, you’ll need to contact a local agent.
You can call 844-242-1899 to speak with an agent directly about your coverage options.
State Farm has a long history of helping small business owners manage risk and protect their assets.
Their experience in the industry can provide you with peace of mind as you navigate the challenges of running your business.
When considering State Farm for your general liability insurance needs, keep in mind that they offer additional coverage options.
These may include commercial auto insurance and commercial liability umbrella policies to further protect your business.
10) Progressive
Progressive offers general liability insurance tailored for small businesses.
This coverage protects you from financial losses due to third-party claims of property damage, bodily injury, or advertising injury.
The cost of your policy will vary based on factors specific to your business.
In 2023, Progressive reported a national median cost of $59 per month for general liability insurance.
Your actual premium may be higher or lower depending on your industry and business activities.
Progressive’s general liability coverage includes protection for products you manufacture, sell, or distribute.
It also covers claims related to faulty work completed by your business, providing comprehensive protection for various aspects of your operations.
You can easily obtain a quote online through Progressive’s website.
The company allows you to customize your policy based on your specific needs, ensuring you get the right level of coverage for your small business.
Progressive offers the option to bundle general liability with other types of business insurance, potentially saving you money on your overall insurance costs.
This flexibility allows you to create a comprehensive insurance package that addresses all your business risks.
Understanding General Liability Insurance
General liability insurance provides essential protection for small businesses against common risks and legal claims.
It covers bodily injury, property damage, and advertising injury claims that could otherwise be financially devastating.
What Is General Liability Insurance?
General liability insurance is a fundamental policy that protects your small business from third-party claims of bodily injury, property damage, and advertising injury.
It covers legal fees and settlement costs if someone sues your business for these reasons.
Key coverages include:
• Bodily injury to customers or visitors on your premises
• Property damage caused by your business operations
• Personal and advertising injury like copyright infringement
This policy does not cover employee injuries, auto accidents, or professional mistakes.
You’ll need separate policies for those risks.
Why Small Businesses Need General Liability Insurance
As a small business owner, you face numerous risks daily.
General liability insurance provides critical financial protection against common claims that could otherwise bankrupt your company.
Here’s why you need it:
• Legal requirement: Some clients and landlords require it
• Contract fulfillment: Many contracts mandate this coverage
• Asset protection: Safeguards your business assets from lawsuits
• Credibility: Shows customers you’re responsible and trustworthy
Even a single lawsuit can be extremely costly.
The average general liability claim is over $75,000.
Without insurance, you’d have to pay that out of pocket.
General liability insurance gives you peace of mind to focus on growing your business.
Benefits of General Liability Insurance for Small Businesses
General liability insurance provides crucial protections for your small business.
It safeguards against common risks and potential financial losses that could seriously impact your operations.
Protection Against Lawsuits
General liability insurance shields your business from costly legal claims.
If a customer slips and falls in your store, or your employee accidentally damages a client’s property, you’re covered.
This protection extends to:
• Bodily injury claims
• Property damage claims
• Personal and advertising injury claims
With this coverage, you won’t have to pay out-of-pocket for legal fees, settlements, or judgments.
This can save your business from financial ruin in case of a major lawsuit.
Remember, even unfounded claims require a legal defense.
Your policy covers these costs, allowing you to focus on running your business rather than worrying about legal expenses.
Coverage for Property Damage
Your general liability policy protects you if your business causes damage to someone else’s property.
This coverage is essential for:
• Contractors working in clients’ homes
• Businesses that visit customer locations
• Companies that host events or meetings in rented spaces
For example, if you accidentally break an expensive vase while working in a client’s home, your insurance would cover the replacement cost.
This protection helps maintain positive relationships with your customers and preserves your reputation.
Medical Expenses Coverage
General liability insurance typically covers the medical expenses of someone injured on your business premises or due to your operations.
This coverage applies regardless of fault and can include:
- Emergency room visits
- Hospital stays
It also covers follow-up doctor appointments and necessary medical tests.
By promptly addressing injuries, you can prevent small incidents from escalating into lawsuits.
This coverage demonstrates your commitment to customer safety and can help maintain goodwill even when accidents occur.
