As a small business owner, it is vital to shield your business from unforeseen risks and circumstances. In this guide, we will explore the best general liability insurance for small businesses.
From industry giants like Allstate and CNA to specialized providers like Markel and Chubb, we have compiled the best providers you can choose from.
Whether you run a retail store, a tech startup, or a restaurant, this overview will help you make informed decisions to secure the best general liability insurance for your small business.
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8 best general liability insurance for small business
Table of Contents
1. Allstate- Best Overall
Allstate stands out as the overall best choice for general liability insurance for small businesses with an A+ (Superior) rating from AM. While it is popular for home and auto insurance, Allstate extends its services to business insurance, offering exceptional commercial liability coverage.
Additionally, this insurance company covers a wide range of industries, including home-based businesses like electricians and shopkeepers.
Overall, Allstate is a great choice for extensive and sector-specific coverage because of its user-friendly website, which offers helpful tools including lists of coverage kinds catered to particular sectors.
2. CNA
CNA earns its spot as one of the best general liability insurance for small businesses, boasting a very low complaint level and an impressive A (Excellent) rating from AM Best.
With more than 300 coverage options, CNA guarantees complete protection catered to the particular risks faced by each company. From technology to retail, CNA covers a wide range of industries.
One of their most notable policies is the Connect Businessowners Policy, which combines property coverage, accounts receivable, and general liability with extra protection for computer technology. Overall, CNA is a great alternative for companies looking for comprehensive and customized insurance solutions.
3. Farmers Insurance
Farmers Insurance stands out as a top choice for general liability insurance companies for small businesses. With a diverse range of business insurance types, farmers offer a wide variety of business insurance options, each with comprehensive coverage catered to particular needs.
The proficiency of Farmer’s representatives guarantees customized support during the entire insurance procedure. Notably, Farmers goes above and beyond in promoting a safe working environment for its business insurance clients by providing MySafetyPoint workplace safety films and information on loss management.
Overall, they offer alternatives for small businesses looking for strong protection because of their wide range of coverage options and dedication to safety.
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4. Frankenmuth Insurance
Frankenmuth Insurance distinguishes itself in the insurance market. They provide tailored, business-specific insurance packages and cater to various sectors like retail stores, manufacturing, and small offices.
Frankenmuth provides coverage through local independent agents and operates regionally in over 15 states in the Midwest and Southeast.
It offers insurance solutions to a variety of companies, such as wholesalers, professional offices, retail stores, and contractors. Overall, Frankenmuth is a reputable option for companies looking for specialized and locally-focused insurance coverage.
5. The Hanover
The Hanover stands out with its excellent no-complaint track record and comprehensive insurance solutions that cater to small businesses. Coverage from The Hanover is available through local independent agents, thus, ensuring personalized service for their complaints.
Their web library also offers helpful videos and articles with advice and insights on small business insurance. Businesses looking for specialized insurance solutions should trust The Hanover because of its accessibility, knowledge, and strong complaint history.
6. Westfield
Westfield offers business insurance coverage across 21 states and has a reputation for low complaints. The Westfield Signature Series allows businesses to bundle coverage types customized to their size and industry.
Small business owners can benefit from the SizeUp Competitive Analysis Tool, which is a free resource enabling comparisons of business metrics in their local area.
Overall, Westfield’s commitment to customization is coupled with a strong track record and valuable tools. This positions the company as a reliable choice for businesses seeking comprehensive insurance solutions.
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7. Markel
Markel stands out as a top choice for small businesses, offering customized insurance solutions for small businesses like personal trainers, medical offices, contractors, eateries, and in-home child care.
It is easier for businesses to understand and obtain the right coverage with Marvel’s online quotes and industry-specific charts. Due to its dedication to openness and flexibility, Markel is a trustworthy partner for small businesses looking for complete insurance solutions.
8. Chubb
Chubb stands out with its remarkable blend of low complaint levels and robust financial strength, making it a good general liability insurance for businesses.
For instance, Chubb’s Business Owners Policy (BOP), designed for companies earning up to $30 million annually, provides choices for customization such as professional liability, flood insurance, electronic data liability, and equipment breakdown.
Notably, Chubb’s BOP’s liability coverage permits customization with “broad named insured,” which automatically covers businesses where ownership is greater than 50%.
Final Thoughts
In conclusion, selecting the best general liability insurance for your small business is a critical step toward safeguarding against potential risks. Our exploration of top providers, such as Allstate, CNA, and others, shows the diverse offerings catering to different industries.
By understanding your business needs and analyzing the strengths of each provider, you can make decisions that ensure the protection and longevity of your venture. Choose wisely to protect your business against unexpected occurrences.
