Business Insurance

Protection for small businesses

Choose your primary coverage to get started:

General Liability Insurance

General Liability

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Workers’ Compensation insurance

Workers’ Compensation

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Business Owner’s Policy

Business Owner’s Policy

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Professional Liability

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Other Coverages

Other Coverages

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Small business insurance can:

Cover unexpected costs

Cover unexpected costs

Provide financial help after some business accidents or mistakes

Protect your livelihood

Protect your livelihood

Offer protection for your business, property and employees

Set you up for success

Set you up for success

Fulfill proof of insurance requirements from customers, partners and regulators

Everything you need to know about small business insurance

What is business insurance?

Business insurance is term that may include different types of insurance for businesses that can provide protection from liabilities, property damage and other risks. It can protect:

  • Small businesses
  • Self-employed
  • LLCs
  • Home businesses
  • Other types of businesses

Small business insurance provides a financial safety net that can help pay unexpected expenses after an accident or mistake involving your customers, employees and business property.

The idea is simple:

1. You pay a set amount for your insurance coverage (this is called your insurance premium).

2. In return, you may receive help paying for expenses after a covered accident or mistake.

Do businesses need insurance?

Commercial insurance is crucial for protecting your business from financial losses related to a variety of different insurable risks.

Without insurance, an accident or professional mistake could threaten the survival of your business and your bottom line.

That’s a scary thought. But it’s a very real factor if you consider that the average cost of a premises liability lawsuit is more than $50,000.**

In some cases, business insurance is required by law

For example, most states require workers’ compensation insurance if you have employees.

And some states have requirements to get a business license, such as a general contractor or electrician license.

What are the different types of business insurance?

Business insurance involves a package of different types of coverage (also known as an insurance policy). You can choose the policies you need based on your operations and potential risks.

Here are some examples of common types of business insurance:

General liability

General liability insurance, also known as business liability insurance, is often the first kind of insurance business owners purchase. It can help your business cover costs if you or an employee accidentally damage someone’s property or if someone other than an employee gets hurt (the legal term for this is bodily injury).

Learn more about general liability insurance.

Professional liability

Professional liability insurance can help protect your business from professional mistakes. This kind of coverage is also known as errors and omissions (E&O) insurance. It is common for professional services.

Learn more about professional liability insurance.

Workers’ compensation

Workers’ compensation insurance covers workplace injuries. If an employee gets hurt on the job, it can help pay for medical expenses and cover lost wages.

It’s often required by state law when you have employees. You can also protect yourself by opting for voluntary business owner’s coverage.

Learn more about workers’ compensation insurance.

Commercial property insurance

Commercial property insurance can help protect many of the physical items you need to do business. It can help pay replacement costs if your business property is damaged by water, fire, wind or vandalism.

A business owner’s policy (BOP insurance) combines general liability insurance and commercial property. It is often cheaper to bundle these two policies than buy them separately.

Learn more about commercial property insurance.

Commercial auto insurance

Commercial auto insurance** is for small business owners who own or drive vehicles. It can help pay for damages if you or an employee are involved in an auto accident while driving for business.

Learn more about commercial auto insurance.

Some types of business insurance are designed for specific industries

The business insurance policies listed above are common for many different types of businesses. However, other more niche coverage options designed specifically for different types of businesses.

For example:

  • Product liability insurance can protect your business from having to pay legal fees if a customer says an issue with your product caused an injury or property damage. It is included with NEXT general liability coverage for retailers.
  • Liquor liability insurance can provide financial help for restaurants if you serve alcohol to someone who goes on to cause an injury or property damage.
  • Tools & Equipment insurance at NEXT can help construction and cleaning businesses repair or replace tools and equipment if they are stolen or damaged outside of normal wear and tear.

How much does small business insurance cost?

Business insurance costs can vary tremendously. That’s because every business has different coverage needs, potential risks and unique circumstances.

For example, insurance for a restaurant will be priced differently than for a handyman or financial advisor.

While it can be difficult to give a precise business insurance cost estimate — for that, you’ll need to get a quote for your business — here are some of the factors that help determine what your insurance will cost.

Factor 1: Number of employees

Your payroll and the number of employees could impact the amount you pay for insurance, especially with workers’ compensation.

Factor 2: Location, location, location

Where you work and the number of locations where you work are factors in your exposure to risks and how much you’ll pay for insurance.

Factor 3: Your industry

If you work in a profession that involves heavy equipment, expensive property or dangerous environments, your general liability insurance costs might be higher than if you’re in a profession that involves sitting quietly at a desk.

Factor 4: Scope of operations

If you’re a fitness instructor who only teaches privately in people’s homes, your general liability insurance might cost less than if you offer public classes. Or, if you’re a restaurant that serves alcoholic beverages, you might pay extra to purchase liquor liability coverage.

Factor 5: Experience

Some people have spent years building up professional expertise before starting their own business. That can mean that their risk is lower than newer professionals. This risk is often reflected in the price they’ll pay for their coverage.

Get a quick estimate to see how much insurance could cost your business with NEXT’s insurance calculators:

How to get business insurance

Getting insurance for your business is simple and fast with NEXT. You can get the coverage you need in several ways:

Buy online

You can buy business insurance 100% online with NEXT. When you click “Get Instant Quote,” we’ll ask you some basic questions about your business and operations such as:

  • Your industry
  • Where you do business
  • Number of employees
  • Expected annual revenue
  • Recent insurance and claims history

We’ll guide you every step of the way. After answering these questions, you’ll have a customized insurance quote for recommended coverage. If you like what you see, you can adjust the package limits and make your purchase.

Your coverage will begin after payment and you’ll have access to your certificate of insurance. The whole process takes about 10 minutes.

Purchase through an agent

Most people are familiar with this method of purchasing insurance — through an agent. NEXT agents are available in every state and can help you understand coverages and local requirements.

To purchase insurance through an insurance agent, you typically need to provide information about your business and its specific needs.

The agent will assess your requirements and provide you with policy options. They’ll explain the coverage details, answer your questions and help you choose the most suitable policy. Once you make a decision, the agent will assist you in completing the necessary paperwork and complete the purchase process.

An add-on when you purchase another service

To make things even more convenient, NEXT enables business owners to purchase insurance through the platforms they’re already using.

Through partnerships with the trusted small business providers you’re already leveraging — such as Quickbooks, LegalZoom, Gusto and more — you can protect your business without ever leaving your account.

Regardless of how you purchase NEXT’s coverage, you’ll experience a straightforward application process, knowledgeable experts who can answer your questions and unlimited access to certificates of insurance (COIs) without additional charges.

How NEXT helps small businesses get the right coverage

NEXT is 100% dedicated to small businesses and the self-employed. That means we can help you get the simple, affordable coverage you need to stay protected, meet legal requirements and provide customers with proof of insurance.

Whether you’re a contractor, restaurant, retail store, or just starting your side hustle, we’ll help you stay safe by providing coverage tailored to your profession.

We currently serve more than 500,000 small business customers.

Our customized commercial insurance packages can also be tailored to different business structures:

See what our customers have to say about NEXT

Satisfied Customer

Best business insurance with the easiest process!

Stephen H.

Small business insurance

I thought next was easy to use, great rates and outstanding follow-up.

Taylor M.

Small start up

Thanks for helping a small startup. Was able to get the insurance I need for a cost I could afford.

Deborah H.

Easy to use

Great! Set everything up and got the insurance needed for my business without hassle and it was very easy and quick to navigate

Myles C.


Hassle free and great to work with. Affordable.

Anthony G.

Peace of mind

easy to apply and and customer service is very responsive

Darrell W.

Easy & affordable

This company makes the process very easy & affordable. Thank you for this service!!

Ronald M.

Easy to sign up and has what I need.

Only took about 10 minutes to have all my questions answered and get the plan I need for my business. Great price and easy to understand plan.

Annick L.

Easy to process

Where other websites did not deliver on a timely manner, this was relatively easy to get a quote and finish the process in a few minutes after accepting it. It was also easy to mod...

Riccardo H.

The best service.

Thanks for your help with my needs, I'm very grateful for your assistance and help. I will recommend your company to others


Let’s find the coverage you need for your business
Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your small business.
General Liability insurance
General Liability
Protect yourself from accidents that cause physical injury or damaged property.
Professional Liability or Error and Omissions Insurance
Professional Liability/E&O
Shield yourself from lawsuits that claim your work errors caused financial losses.
Workers' Compensation Insurance
Workers’ Compensation
Cover medical bills and lost wages if your employees have an accident at work.
Commercial Auto Insurance
Commercial Auto
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.
Tools & Equipment Insurance
Tools & Equipment
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.
Commercial Property Insurance
Commercial Property
Keep your building, inventory and equipment protected from fire or water damage.
Business Owner’s Policy Insurance
Business Owner’s Policy
Combine general liability and commercial property into one policy to protect your business.

Get support when you need it

Our U.S.-based licensed insurance advisors are standing by to answer your questions.

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* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
** "Estimating the Cost of Civil Litigation," Court Statistics Project, VOLUME 20, NUMBER 1, January 2013,
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© 2024 Next Insurance, Inc. 975 California Ave, Palo Alto, CA 94304, United States
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.