We looked at over 200 insurance companies to find the best one for you. Then, we developed a proprietary scoring system to find the best 20 business insurance companies out there.
How the Score Works
We wanted to develop a score that reflects what you, the business owner, are looking for. You want a company that’s easy to talk to, keeps their promises and values their customers. That’s why we ranked over 200 companies in each of these areas:
- Accessibility measures how easy each company is to work with. Companies with 24/7 claims reporting, a strong social media presence, and extended hours (beyond the boring old 9-to-5) scored higher.
- Strength measures whether or not a company trusts its reputation to speak for itself. Companies who work with independent agents (putting themselves up against fair competition), have high financial security ratings and have spent more than 20 years in business rank higher.
- Service measures how happy the company’s customers are with their service. We aggregated rankings from around the web to get a snapshot of which companies are going above and beyond.
We’re not swayed by advertising dollars or under-the-table PR conversations. All of the information we used is publicly available on the internet. We just went to the trouble of putting it in one place for you, so you can use it to make smart decisions about your business insurance.
What the Score Means
We wanted to recognize the companies going above and beyond, not just the ones failing to meet the mark. 5 points (stars) are possible in each area, for a total of 15 points. Here’s what each rating means in each area:
- 1 star: Average
- 2 stars: Above Average
- 3 stars: Excellent
- 4 stars: Superior
- 5 stars: Perfect! This company earns the Trusted Choice Seal of Awesomeness.
Get to Know Our Top 20 Business Insurance Companies
Travelers was the only company in our rankings to earn a perfect 5-5-5 score in the car, home and business insurance categories, easily nabbing them the top spot. Travelers has one of the best websites in the biz, a spectacular reputation for customer service and rock-solid financial strength. They even have an A++ rating from AM Best, the highest possible ranking. All that and they choose to sell their products exclusively through independent insurance agents. That shows that they trust their product to stand head and shoulders above the competition without them having to rig the game with their own proprietary sales reps.
Travelers was founded in 1853, making them one of the oldest companies on this list. They’re also one of the largest: they offer insurance in 5 countries and have over 30,000 employees dedicated to serving you.
Acuity got one of two number-two runner-up spots because of their near-perfect 5-5-4 score. We loved how easy it was to access important information on their site as well as their 24/7 claims reporting. Acuity has an A+ rating from AM Best, one of the strongest ratings available. Their products are exclusively available through independent insurance agents.
Acuity has a huge variety of coverage options for business owners. Whether you’re a trucker, restaurant owner or mechanic, Acuity has special programs for you. We loved to see that specialization. When it comes to business insurance, you need experts in your corner, and Acuity definitely provides that expertise.
3. Erie Insurance
We chose Erie for our two-way-tied runner-up spot because of the truly spectacular service, access and stability that they offer their customers. Their website was particularly impressive: in addition to offering online quotes, their services for existing customers were also easy to find, including 24/7 claims reporting and online payments. They also have extensive evening and weekend customer service hours. They have an exceptional A+ rating from AM Best, the insurance industry’s credit rating agency. That makes them a safe bet for your life insurance.
Erie Insurance was founded in back in 1925 with the explicit mission of providing great customer service to Pennsylvanians. Today they’re a Fortune 500 company offering car, life, business and home insurance through thousands of independent agents nationwide. Erie offers a wide variety of insurance products, so they’re a great choice if you’re looking to bundle multiple types of insurance (like business and life) at a discount.
4. Grange Insurance
Also tied for runner up is Grange Insurance. Grange’s 24/7 support makes them a great choice if you have a busy schedule. Grange offers a wide range of personalized coverage options. If mixing and matching coverages like life insurance for key employees or commercial auto insurance in with your business insurance appeals to you, they’ve got you covered. If you need a little extra guidance, they also have a regularly updated blog about insurance topics and current events. They have a strong A- rating from AM Best.
Grange Insurance was founded in 1935 to provide affordable car insurance to farmers. Now they offer those savings to people across all professions in 13 states. They work exclusively with expert independent insurance agents to provide auto, home, business and life coverage.
Nationwide is yet another practically perfect 5-5-4 runner up. Their superior online services, size, stability and choice to work with independent insurance agents pushed them close to the top of our rankings. Nationwide offers a wide range of insurance choices for owners of small or large business. Like Grange and Erie, their size and range of products lets you mix and match coverage for maximum discounts and benefits for you and your business. They’re rated A+ by AM Best.
Nationwide is rated the #1 provider of insurance for farms and agribusiness according to AM Best. If you’re looking to get a farm, winery or other agribusiness off the ground, Nationwide is a great place to start for your insurance needs. They even offer an online small business resource center.
We picked AIG for the runner-up spot because of their 24/7 customer service hours and easy-to-use online services. Their rock-solid financial history also gave them a boost. AIG specializes in life insurance for individuals and business insurance for businesses of all sizes. They sell their products through a network of independent insurance agents. AIG is rated A by AM Best.
AIG stands for American International Group. True to their name, they’ve been providing insurance to individuals and businesses around the world since they were founded in 1919. Because AIG is a specialized company (rather than a “wide” one, in insurance biz lingo), that means they can offer truly customized, exceptional coverage for your business. Standout business insurance options offered by AIG include liability insurance for architects and engineers and cyber insurance for your business’s and customers’ sensitive data.
7. Central Insurance Companies
Central Insurance Companies is one of our top choices because of their stellar customer service and commitment to working with independent insurance agents. They offer 24/7 claims reporting on top of already-extended customer service hours (8 a.m. – 7:30 p.m. every day, including weekends). They’re also extremely stable: they’ve been around since 1876 and today have an A rating from AM Best.
For business owners, Central Insurance Companies offers the basics—commercial auto, property and liability, to name a few—including plenty of specialty products catered to small business owners.
8. NYCM Insurance
We loved NYCM’s 24/7 claim service, online bill pay and other nifty website features. Their commitment to independent insurance agents and A rating from AM Best didn’t hurt, either. That’s why we placed them in our top 10 business insurance companies. NYCM offers two business insurance options for their customers: their Highliner Policy, for owners of rental properties, and their Silverstreak policy, for small business owners.
Founded in 1899 in New York and still employing only about 800 people, NYCM Insurance is a smaller, more regional company than most on this list. Their high-ranking spot shows that they’re punching way above their weight to deliver excellent service and value to their customers.
One of the most recognizable insurance companies in America, Progressive landed on our list because of their top-notch AM Best rating (A+) and their 24/7 service. Progressive is known for exceptionally speedy claims service and their willingness to provide insurance to just about everyone, even if you’ve had trouble getting insured elsewhere. They work with independent insurance agents to help you get the coverage you need.
Progressive started insuring cars in 1937. Today they also offer home, business and life insurance along with a variety of niche products. If you’re a new business owner who’s confused by all the weird quirks of business insurance, Progressive has an especially great series of FAQs and articles to explain different types of coverage.
10. American Modern Insurance Group
We chose American Modern Insurance Group to round out our top 10 because of their streamlined website, convenient evening customer service hours and excellent A+ rating from AM Best. American Modern Insurance Group is a specialty insurance company that works through a network of independent insurance agents. They specialize in difficult-to-insure businesses, including rental properties, real estate investments and commercial auto rentals.
American Modern Insurance Group was founded in 1965 as one of the first companies in the United States to specialize in the mobile home market. Today they offer additional specialty policies to cover golf carts, yachts, ATVs and more.
11. The Hartford
We loved The Hartford’s superior financial strength as well as their 24/7 support and easy-to-navigate website and informational materials. They’re rated A+ by AM Best. The Hartford insures cars, homes and business. They’re the only insurance company endorsed by the AARP. If you’re an AARP member, it’s worth checking with The Hartford for special deals and discounts first.
The Hartford was founded in 1810 as a fire insurance company, making them the oldest company on this list. They even insured President Lincoln’s home in Illinois while he moved into the White House in 1861. In addition to being a fun fact, The Hartford’s long history reflects their stability and excellent reputation.
12. Liberty Mutual
Liberty Mutual ranks high on our list because of their financial strength and user-friendly tools. They’re the third largest property and casualty insurance company in the United States. (Property and casualty is the kind of insurance regular people buy—stuff like car, home and life.) That means that they’re a Fortune 68 company with about 50,000 employees worldwide. Luckily, their website isn’t nearly as intimidating as those numbers might suggest. They offer easy online quotes and clearly spell out what each type of policy will or won’t get you on their life insurance homepage. Liberty Mutual is rated A by AM Best.
Liberty Mutual offers a great selection of business insurance policies for hard-to-insure businesses, including bowling alleys, behavioral health facilities and scrap metal yards. If you’re working in a difficult or dangerous niche, it’s worth checking if Liberty Mutual has a ready-made insurance option for you.
13. West Bend Mutual Insurance Company
West Bend (also known as Silver Lining) is a regional insurance company with a century-plus long history, great customer service, an A+ rating from AM Best and a whole lot more to be proud of. The features we loved the most included 24/7 claims reporting, a claims reporting guide to make the process as easy as possible and online bill pay. West Bend works with independent insurance agents to get you covered.
In addition to regular business insurance options like liability and commercial property insurance, West Bend also offers a loss prevention program to help protect your business even further. They’ll analyze your business and create an action plan to help reduce crime and risk, helping you stay profitable and keeping your employees safe.
14. Donegal Insurance Group
We picked Donegal Insurance Group for their strength and stability over their long history (since 1889!). Donegal is a regional insurance company that offers insurance for everyone, with special policies available for farmers. Donegal Insurance Group works with independent insurance agents and has an A rating from AM Best.
Donegal Insurance Group specializes in small to mid-size businesses (though they also offer personal policies like home and car insurance). No matter what your business’s insurance needs are, you’ll likely find something to meet them at Donegal. Special products include insurance packages for barber shops, optical goods, funeral homes and pharmacies.
15. EMC Insurance Companies
EMC Insurance Companies specializes in business insurance. We loved the variety of policies they offer to business owners, backed by a strong financial history. EMC works exclusively with independent insurance agents. They have an A rating from AM Best and offer 24/7 claims support.
EMC regularly adds new business packages for their customers, including brewery and winery insurance. Other popular packages include convenience store and hotel coverage.
16. Hanover Insurance Group
We selected Hanover Insurance Group (also called The Hanover) for our top 20 because of their stability and excellent reputation. Founded in 1852, The Hanover is one of the top 40 oldest companies on the New York Stock Exchange. They partner with over 2000 independent agents and have an A rating from AM Best.
The Hanover covers small and mid-range businesses. They offer a variety of special lines including cyber insurance in case of a data breach (especially important for medical and financial businesses). If you run a healthcare business, you likely already know that they’re difficult to insure. Luckily, The Hanover offers a suite of options for healthcare businesses, from elder care to medical equipment companies.
17. MMG Insurance
MMG Insurance (which stands for Maine Mutual Group) is a regional company that sells their coverage through independent insurance agents in Maine, New Hampshire, Vermont, Pennsylvania and Virginia. They specialize in property insurance. We loved their 24/7 claims support and excellent customer service ratings, including an A+ from the Better Business Bureau. MMG Insurance is rated A by AM Best.
MMG Insurance was founded in 1897. They are consistently ranked highly by industry publications and awards in America’s Northeast region, including being named Company of the Year by the Maine Insurance Agents Association multiple years in a row and the 2015 Company of the Year by the National Association of Professional Insurance Agents.
18. Mutual of Enumclaw Insurance Company
Mutual of Enumclaw is a mutual insurance company serving the Northwest region of the United States, including Washington, Idaho, Oregon and Utah. Their beautiful and easy-to-navigate website (one of our favorites out of over 200 companies we researched) nabbed them a top spot, along with their 24/7 claims center and commitment to working with independent insurance agents. They received an A- rating from AM Best.
Mutual of Enumclaw offers specialized business policies for restaurants, hotels, wineries, breweries, farms and many more. Business owners also gain access to a wildfire monitoring program and discounted background checks while hiring employees.
19. Ohio Mutual Insurance Group
We loved Ohio Mutual Insurance Group’s strong financial track record and 24/7 online insurance portal, 360access. They’re a mutual organization with over 100 years of history in Ohio. Today they operate in 7 states. They work exclusively with independent insurance agents and have an A rating from AM Best.
Ohio Mutual works with business owners to craft a customized package for your business. They specialize in insuring small businesses. If you’re starting a business in Connecticut, Indiana, Maine, New Hampshire, Ohio, Rhode Island or Vermont, Ohio Mutual is a great place to start looking for coverage.
20. Union Mutual of Vermont Companies
Union Mutual of Vermont (also called Union Mutual) earned a top spot on the strength of their excellent financial track record and the ease of accessing their services. Union Mutual partners with independent insurance agents to find the right coverage for you. They have a stellar A+ rating from AM Best and a history dating back to 1827.
Union Mutual is a regional company whose products are available throughout New England and New York.
The Awesome Benefits of an Independent Agent
Independent agents are here for YOU, just like we are. They’re rogue do-gooders: not bound by any one company, they can help you find the right business insurance match, no matter what company provides it. Shop smart. Go indie. Sweet.