Commercial insurance

Protects your business from unexpected setbacks.


What is commercial insurance?

Commercial insurance, commonly called business insurance, safeguards your business against unforeseen losses arising from lawsuits, natural disasters and everyday accidents. It offers a variety of coverage options, including protection against property damage, legal liability, cyberattacks and bodily injuries.

Depending on what you do and your business environment, your coverage needs can vary, with options ranging from commercial property insurance, professional liability, general liability, workers’ compensation and more.

Commercial insurance vs. personal insurance: What’s the difference?

The main difference between commercial and personal insurance is the scope of coverage. A commercial insurance policy, such as workers’ compensation, covers various aspects of your entire business. In this case, workers’ compensation provides explicit coverage for medical costs and a portion of lost wages if an employee becomes injured or ill on the job.

On the other hand, personal insurance, such as private life insurance, is designed to cover an individual’s needs. Private life insurance is typically purchased by individuals and families to cover death-related expenses.

Key coverages offered by a commercial insurance policy

Typical components of commercial insurance include:

You may need multiple coverages depending on the specific needs of the business.

What factors should business owners consider when determining the appropriate coverage?

Businesses that risk losing property, materials, or money should consider purchasing commercial insurance. Other factors include:

  • Risk management: Commercial insurance helps businesses manage and mitigate risks, ensuring they can weather unexpected events without facing financial challenges.
  • Industry requirements: Different industries have specialized commercial insurance policies addressing the unique risks they encounter.
  • Legal requirements: Commercial insurance is legally mandated in many cases, depending on your business type and location.

Watch your business grow with NEXT

NEXT gives you 24/7 online access to your plan and policies to help you manage your coverage on your terms.

To get your tailored instant quote, simply answer a few questions online and customize your options. Once you’ve purchased your insurance, you can immediately access your certificate of insurance and share it 24/7 via the NEXT app.

Start a free instant quote with NEXT.

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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 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.
* 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.
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© 2023 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.