Are you a business owner looking to protect your business against unexpected events and uncertainties if so then you’ve come to the right place in today’s post we’ll be talking about commercial business insurance companies and why you need them now why is important running a business is hard work and the last thing you want is for something unexpected to happen and derail all of your hard work that’s where Commercial Business Insurance comes in types of insurance policies are designed to
protect your business from a wide range of risks including property damage liability and Theft types of Commercial Business Insurance there are many different types of commercial business insurance policies each designed to meet the specific needs of your business for example if you run a retail store you might need a policy that covers theft and liability whereas if you run a construction business you might need a policy that covers damage to equipment and property here are the advantages of Commercial Business Insurance one of the biggest advantages of Commercial Business Insurance is that it can help you avoid Financial losses due to unexpected events for example if your business is hit by a natural disaster or a fire your insurance policy can help cover the costs of repairs and other expenses every business irrespective of its size and Industry requires an insurance policy tailored to its specific needs to help you navigate this Maze of choices we have scarred the market and identified the
most comprehensive and competitive business insurance policies across various categories so whether you’re a budding startup or a large conglomerate we’ve got you covered with the best suited insurance policies for your business number one Berkshire Hathaway Berkshire Hathaway known as the parent company of gecko also offers commercial insurance through two channels by Burke and three the former provides general liability and property coverage while the latter offers a more comprehensive policy that includes business Interruption cyber security workers compensation and Commercial Auto three’s policy is particularly noteworthy for its Simplicity consisting of just three pages it is an affordable all-inclusive option that is ideal for small businesses looking to avoid the added expense of combining a Bop with additional coverage we received a reasonable monthly quote for a small retail store with one vehicle and three employees three offers a more robust option with greater coverage
while the option to receive a discount when paying annually is a plus however on the downside the fact that Berkshire Hathaway is a newer insurance provider could give some potential customers pause furthermore the fact that coverage is not yet available in all states could be a deal breaker for some businesses number two Nationwide Nationwide is our top pick for the best overall commercial business insurance provider due to its industry-leading coverage and service they offer tailored policies for a wide range of business types and sizes making them a versatile choice for businesses of all kinds nationwide’s coverage options are comprehensive including traditional policies such as general liability and umbrella insurance as well as additional protection against equipment failures and employment related lawsuits they even offer modern options like cyber security protection to safeguard against cyber threats one downside of Nationwide is its limited online quoting tools which only cover five
types of coverage for more detailed policy information you will need to speak with an agent over the phone additionally there are some small business Industries such as hotels and real estate professionals that do not receive specific attention from Nationwide lastly Nationwide commercial insurance is not available in Alaska or Hawaii although coverage can be purchased anywhere else in the continental United States number three the Hartford when it comes to safeguarding your business Commercial Property Insurance is a must-have coverage it protects your physical assets such as tools equipment and office furniture from damage or theft in our review of commercial property policies Hartford stands out as the best option for businesses of all sizes from sole Proprietors to large corporations one of the main advantages of the hartford’s commercial property policies is their flexibility they offer coverage for small businesses with a total insurable value of less than 200 million dollars as well as large businesses
that exceed this threshold the policies are tailored to meet the specific needs of each company based on its size and Industry for instance larger businesses can benefit from specialized agents and risk Engineering Services getting a commercial property insurance quote from the Hartford is fast and easy with most quotes available online however for large companies or specialized coverage you may need to work with an agent to obtain a quote Hartford writes policies for businesses of any size their focus is mainly on small businesses and their policies provide affordable total coverage for all types of businesses making them a Top Choice for commercial property insurance number four Shop Chop is a top-rated insurance provider with a focus on tailored general liability policies for businesses of all sizes and industries their offerings make them our top pick for general liability coverage Chubbs customer general liability policy is designed to protect small and large businesses alike it offers coverage for a
wide range of events and liabilities including bodily injury property damage and litigation the policy is suitable for over one thousand different industry classification codes ensuring that businesses of all types and sizes can find the coverage they need however it’s important to note that Global coverage isn’t included and must be purchased separately Chubbs business owner’s policy combines general liability with commercial property and other industry-specific types of coverage for businesses with less than 30 million dollars in annual revenue one downside to Chubbs commercial insurance policies is that they must be purchased through an agent and online quotes are not available number five Progressive Progressive is considered to be the leading commercial auto insurance provider in the U.S writing more Commercial Auto Direct premiums than any other insurer making it the top pick in our review with Progressive coverage is available for a wide range of commercial vehicles Progressive is
the largest Commercial Auto insurer in the United States providing coverage for over 1 million commercial vehicles as of 2019. progressive offers policies for a variety of vehicle types including trucks buses trailers and personal vehicles that are partially used for business purposes Commercial Auto policies from Progressive offer unparalleled convenience including 24 7’s customer service and coverage in all 50 states businesses can also save money on their insurance policies by bundling Commercial Auto with other types of coverage such as general liability or a Bop according to Progressive the average monthly premium for a business Auto customer is around 188 dollars per month however premiums can vary significantly depending on the industry and the type of vehicle being insured Progressive covers a wide variety of vehicles but there are some limitations to their commercial Auto policies for instance certain types of vehicles are excluded such as golf carts and
emergency vehicles like ambulances and fire trucks customization options may also be limited compared to other providers it’s also important to note that some commercial policies offered by Progressive are underwritten by third-party providers number six best liquor liability insurance is an excellent resource for those seeking a local provider to meet the varying liquor liability requirements across different states whether you own a bar retail store catering business or restaurant they are equipped to assist you in finding the appropriate coverage after conducting a thorough analysis insurian was ranked first for liquor liability coverage insurance is a reliable and efficient Online Marketplace that provides a free and simple application to Compare Liquor liability coverage quotes from multiple providers to make it easier for you in Syrian partners with numerous commercial insurance providers streamlining the process of obtaining multiple quotes with just one application pricing for liquor
liability policies will depend on several factors including your business location years in operation and the percentage of revenue generated by alcohol sales according to insurion the annual median cost for liquor liability insurance is approximately two thousand and sixty dollars for bars 545 dollars for restaurants and 775 dollars for catering companies number seven next Insurance best for self-employed businesses next insurance is a commercial insurance provider that focuses on serving sole Proprietors and small businesses by removing coverage that is not necessary for self-employed businesses next insurance is able to offer policies at low monthly rates up to 30 percent lower than comparable coverage next insurance policies include general liability professional liability errors and omissions insurance commercial auto tools and equipment and workers compensation while this coverage may not be suitable for all types of businesses next Insurance provides instant online quotes and can begin
coverage the same day one of the advantages of next insurance is that it is able to offer policies at lower rates than traditional commercial insurance policies additionally customers who bundle multiple types of coverage may receive discounts of up to 10 percent thanks for watching Please follow and press a notification business snap finance and investing updates