Next Insurance


Instant coverage designed for small businesses and the self-employed

Small business insurance

Get the small business insurance you need to protect your company or side hustle. Our coverage can help pay for:

Property damage

Property damage

If you damage someone’s property or your business property needs to be replaced or repaired.



If someone is injured and you or your business is ruled responsible.

Lost wages

Lost wages

If you or an employee experience a workplace injury.

Defense costs

Defense costs

If you’re forced to go to court to defend your small business.

Vehicle accidents

Vehicle accidents

If someone gets hurt or property is damaged while you’re driving for work.

Business errors

Business errors

If you or an employee makes a mistake that causes you to lose money.

Everything you need to know about small business insurance:


What is business insurance?

Business insurance protects you from expenses that can take you by surprise after an accident or mistake involving your business property, your employees or your customers. It’s sometimes called commercial insurance.

The idea of small business insurance is simple: 

  1. You pay a set amount for your coverage (this is known in the industry as an insurance premium). 
  2. In return, you may be able to avoid paying a much larger amount after an accident or mistake.

What are the different types of business insurance?

Business insurance typically involves a package of different types of coverage — what the insurance industry calls policies.

For example, someone could slip where you are working and claim the injury is your fault. In that case, you’ll be glad you have general liability insurance to help pay for medical costs so you don’t have to pay out of pocket. 

General liability insurance is typically the first kind of insurance bought by business owners as it also helps  your business cover the costs if you or an employee accidentally damage someone’s property.

Product Liability insurance — which is included in general liability insurance — can protect your retail business from having to pay for legal fees if a customer says that an issue with your product caused them injury or property damage.

But general liability is just one type of business insurance coverage. 

You might need to expand your insurance package to protect yourself from financial losses. For example:

Commercial property can help protect almost all of the physical items you need to do business. It can pay for replacement costs for your business equipment, goods, inventory and repairs to your building (if you own it) up to your policy limit. 

Business owner’s policy (commonly known as BOP insurance) combines general liability insurance and commercial property insurance into one package that includes all the coverage available in those two types of insurance. 

A BOP is a comprehensive way to protect your business from unexpected expenses related to property damage, medical payments and lawsuits.

Workers’ compensation insurance covers workplace injuries. 

If an employee gets hurt on the job, it can pay for medical expenses and help cover lost wages. You can also cover yourself if you opt for business owner’s coverage.  

It’s almost always required when you have employees.

Commercial auto insurance is for 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 working or your work vehicle is damaged.

Professional liability insurance can help protect you from claims of work mistakes or negligence. This coverage is also known as errors and omissions (E&O) insurance.

We know it can be difficult to sort out what coverage you need for your business. That’s why we developed a super fast online business insurance quote process.

You can review our customized recommendations and adjust them to fit your small business preferences in less than 10 minutes.

How much does small business insurance cost?

Small business insurance costs can vary tremendously. That makes sense, since a yoga teacher needs different coverage than a handyman or a financial advisor. 

For some low-risk professionals, like personal trainers, prices start at just $11 per month, while the cost of small business insurance for roofers or welders who work on dangerous projects can be much higher.

While it can be difficult to give a precise small business insurance costs estimate (the best way to get the information is to get a quote for your business), we can tell you about some of the factors that help determine what your small business insurance will cost. 

Factor 1: Number of employees

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

Factor 2: Location, location location

Where you work and the number of locations where you work is a factor in your exposure to risks and how much you will pay for insurance protection.

A contractor in a highly regulated state like California might pay more for insurance than a contractor in Texas, even if they work on similar projects. That applies to almost every industry, including food service, retail and professional services.

Factor 3: What’s your industry?

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

Construction professionals pay a median of $70 per month for a business insurance policy. Cleaning professionals pay $43 per month and fitness professionals pay a median of $16.50 per month for a business insurance policy.

Factor 4: Scope of operations

If you’re a fitness instructor who only teaches privately in people’s homes your general liability insurance is probably going to cost less than if you offer public classes, as working with the public will always increase your risk — and therefore the cost of your business insurance. 

Factor 5: Experience

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

Why is business insurance important?

Business insurance is crucial for protecting your business from financial losses. 

Without insurance, an accident or mistake could keep you from reaching your goals and threaten the survival of your business.

That’s a scary thought, but it’s a very real factor for many businesses if you consider the average cost of a liability lawsuit can easily reach $50,000.

Business insurance gives you the protection you need to confidently focus on growing your business and serving your customers.

We’re here to help you at every step.

How can NEXT help you get the right coverage?

We’re dedicated to helping small businesses and self-employed workers find the affordable coverage you need to stay protected, meet legal requirements and satisfy their customers.

Whether you’re an accountant, construction worker, baker or candlemaker, we’ll help you thrive by providing coverage that protects everything you do. 

Since we only work with small businesses and the self-employed, we can customize your commercial insurance package to fit your business. Currently, NEXT serves more than 420,000 small business customers.

NEXT also offers customized business insurance package tailored to different business structures:

How do I get business insurance?

You can purchase the business insurance you need online in less than 10 minutes with Next.  

Here’s how the process works:

Start an instant quote. We’ll ask you some basic questions about your business and operations, including: 

  • Your industry
  • Where you do business
  • How many years you have owned the business
  • Number of employees
  • Expected annual revenue
  • Recent insurance and claims history

We will use the information you share to create a customized business insurance quote.

If you like what you see, you can adjust the package limits to fit your preferences and make your purchase. 

Your insurance will begin immediately after payment, and you’ll have access to your certificate of insurance. The self-service tools also allow you to pay premiums, add an additional insured and file claims. 

The streamlined process, which can be completed without needing to talk to an agent, makes it possible to purchase insurance online in a matter of minutes. 

And if you do have questions, our licensed, U.S.-based insurance professionals are ready with the answers.

Get customized insurance wherever you do business

Learn more about insurance options in the state where you work.

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.

There’s a lot to love about NEXT

Business insurance in less than 10 minutes

Get insurance in less than 10 minutes and you can save up to 25%*

Tailored business insurance

Unique, flexible coverage with easy monthly payments

Get business insurance online

Do it all 100% online or talk to a licensed U.S.-based advisor

Get support when you need it

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

Get support when you need it
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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.
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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.