Cheap Business Insurance Quotes: Compare Online

✓ Online quotes ✓ Best business insurers ✓ Cheap rates

In partnership with:

Identity logo

In partnership with:

Coverwallet logo

icon Your information is secure with us and solely used to connect you to relevant insurance offers, companies and services.

insurance > compare cheap business Insurance quotes


You’ve established your dream business… mazel tov! 

Hours and hours of hustle and hard work has led you to this moment and your ideas have came to fruition.

You don't want to risk it to unexpected financial loss. 

And that's where finding the best cheap business insurance coverage comes in to play.

Managing to compare cheap business insurance quotes online ahead of buying one (which can also be done online) can get you to save even more on your business expenses and reduce them to the minimum.

Whether it's a restaurant, a food truck, a coffee shop and other small business operations that can mostly do with small business insurance, or whether it's large corporates and enterprises, this is the time to compare business insurance quotes and get the best and cheapest business insurance coverage to protect your source of income and occupation! 

Business insurance is important to protect yourself, your employees, and your business from unexpected risk and financial loss. 

And with so many insurance companies out there, it can be challenging to find the best commercial insurance coverage, plans and rates for your precise business needs, as well as the best and most trusted companies.

Especially with COVID-19 still around which makes things even more puzzling... but guess what? It can be easier.

More on business insurance: 


Please find the best cheap business insurance companies and coverage options overview below.

The following are the cheapest business insurance companies and plans for 2020 for all sizes, you can find both cheap small business insurance companies to ones that cover large corporates. We based our research on factors like affordable business insurance rates, customer satisfaction ratings, features, user friendliness, how comprehensive is the coverage, how tailored it is to your precise business needs, financial strength of the insurer and more to pinpoint the best cheap commercial insurance companies.

CompanyAverage  Business Insurance Cost Per MonthBest for
CoverWalletVaries; cheap quotesSmall business insurance online one stop shop
Thimble$30 (cheapest policy available for $5)
Home based businesses and IT professionals
Next Insurance $29 (starts from $11 for fitness professionals)Construction and fitness businesses as well as millennials looking for fast low cost coverage online
Hiscox $29 (starts from $19)Independent contractors looking for comprehensive coverage that is tailored to their industry in affordable rates
The Hartford$42Workers Compensation
GEICO$33-$62Commercial auto - rideshare
Progressive$53Commercial auto
SMBs looking for tailored coverage
Travelers$46-$180+Commercial property
State Farm$21-$180+Best overall
Chubb$28-$180+International businesses
USAA$21-$130+Military community
Farmers$43-$130+Small business retail insurance
EmbrokerFrom $42Startups

* Costs may vary depending on the size of your business, its sector, location and other factors.

As you can see, the cheapest general liability insurance for small business that we have found is Thimble, a very affordable general liability insurance for small business option, with on-demand policies starting from as low as $5, high flexibility and excellent online experience. It is very easy to get instant online quotes with them as well.


To compare cheap business insurance quotes from these companies and other great ones and get the best business insurance price and coverage, be sure to click the get quotes button on top of this page and follow few easy steps.


- One stop shop online for small businesses from personalized small business insurance quotes comparison to policy management

- Surprisingly cheap business insurance quotes online

- Fast & easy to use

- Partners with top business insurers

- An AON company

- Very high customer satisfaction reviews and ratings

- Wide variety of coverage options and industries covered

- Personal finance advisor

- Our top choice


Read More: CoverWallet Reviews


- High customer ratings: Chubb barely have any customer complaints

- 90% of the businesses renew their policies with them

- Covers businesses of all sizes

- Provides an excellent claims experience

- One of the broadest coverages available in the market making sure that you won't be left uncovered while thinking you are

Online option is less friendly: only GL, cyber insurance, BOP and professional liability are available online



  • While covering over 100 sectors, Thimble mainly covers home-based tech/IT businesses so costs for other sectors might be higher
  • Thimble offers instant flexible short-term cheap small business general liability insurance policies, starting from one hour
  • Thimble offers small business general liability insurance policies from $5 which makes it a very affordable business insurance online option
  • Provides a great online experience




  • Fast and easy online experience
  • Live free certificates of insurance online
  • Easy to add extra certificate holders online (free to add one extra)
  • No cancellation and administrative fees
  • Customer service reps are all licensed insurance agents
  • While most of its claims are handled in-house, some are handle by a third part company, which makes the process longer



- Online quoting and purchase

- Coverage can be customized for a variety of sectors

- Global coverage (claims have to be filed in the US/Canada)

- Available in all 50 states

- 24/7 online claim filing available

- 14 days money back guarantee (if there weren't any claims or losses)

- In case of an accident where someone who is not you or your employees were injured, your Hiscox business general liability insurance will cover relevant medical costs for every person that was injured, with up to $5,000 per person



- Easy online quoting

- Provides up to $2 million coverage for every general liability business insurance claim and $4m for the policy aggregate



- High customer satisfaction ratings

- Financially strong

- 24/7 claims service available by the phone and online

- Received complaints about unfairly denied claims

- Offering discounts in few states only



* Excellent customer ratings

* Financially strong



- In partnership with Hiscox for most business insurance products and underwrites commercial auto policies only

- Extremely strong financially with A++ credit rating

- Has too many claims complaints from customers



- Progressive commercial has excellent customer ratings



- Fair customer ratings

- Also underwrites esurance business insurance policies



- Good customer ratings

- Financially strong

- Variety of advanced, broad, customizable coverage options and packages that cover any risk a business might face

- Only available for military personnel, veterans and their families

- Underwritten by a third party, which adds some risk to you as a customer



* Mediocre customer satisfaction ratings

* Offers good bundle discounts


Now when you have a broad overview of how to get cheap business insurance and what it looks like, we are ready to move forward. It is crucial to understand the basics of business ins, as knowledge is power for all business owners. This will be covered in the next section.  


Also referred to as commercial insurance, business insurance is a type of insurance that is designed to protect your business from unexpected financial loss, physical and intellectual property damages.

Business insurance comes in all shapes and flavours, and each type protects against various forms of risk you may face. 

When thinking about the plan that will be most beneficial to your business and its price, it is important to analyze what you are looking to achieve through business insurance, what would you like your business to be protected from and what risk your business may face, factors that determine your business insurance rates. 

  • Would a small business insurance be applicable to your business? Are you operating a small business or a larger business? 
  • What services do you provide? 
  • Who are you helping? 
  • What industry are you in? 
  • Where are you operating in? 
  • How many employees do you have?

Be sure to keep note of these things as you continue to read. Not every type of plan will be of benefit to you.

The first type of business insurance we will cover is: 

Commercial General Liability Insurance 

Commercial General Liability (CGL) insurance policy covers three main risks:

  • Injury and property damage
  • Personal and advertising injury (i.e. slander or copyright disputes)
  • Medical expenses

In today's litigious society, it is essential to protect yourself and your company from lawsuits and liability claims. Small accidents, broken contracts, disgruntled employees are all common occurrences that could potentially end in a lawsuit. That does not mean you will necessarily lose the lawsuit; however, absurd legal fees will hurt your business and distract you from important administrative and organizational work. Business liability insurance will cover any incidentals and allow you to focus on operating your company without fear of it being damaged by liability claims. This type of insurance is typically a “first line of defense” for companies as it covers the more general losses a company may face. The median cost of a commercial general liability policy is $500/year. 

Business general liability insurance cost varies depending on factors like whether it is a small business or larger business, industry, location, number of employees and others. However, a small business general liability insurance cost is normally $30/month or lower. 

As per The Small Business Association, small business general liability insurance cost ranges from $60 to $170 per month. It's always a good idea to shop around for small business public liability insurance quotes though and find the best business insurance near you or the best that serves your area.

Read more: Commercial General Liability (CGL) Insurance Cost

Compare Cheap Business Insurance Quotes

Get all the best quotes from leading providers in a click of a button!

In partnership with:

Identity logo

In partnership with:

Coverwallet logo

While it is very important to protect your business, it is also essential that you protect your space and the roof over your company’s head. How? 

Commercial Property Insurance

Regardless of whether or not the property in which you operate your business out of is owned or leased, property insurance is essential. In addition to covering the physical building, this type of insurance also covers the equipment and inventory within your office space from unexpected occurrences like fires, storms, or theft. Often times, mass-destruction natural disasters such as earthquakes or floods are not covered in property insurance, so if you live in an area prone to natural disasters, make sure to discuss this with your insurer; additional coverage is often available for an added cost. So how much should you expect to pay for commercial property insurance? It really depends on the value of the building and your location, among other factors. The median cost, however, is around $750/year.

To learn more, visit our Commercial Property Insurance Guide.

Workers Compensation Insurance

Also known as Workman's Compensation Insurance. It is important to pay attention closely to the details of this type of policy as it is typically a law that you provide your employees with this coverage. Workers’ comp insurance covers sickness, injury, or death (and the consequential lost wages) that an employee may encounter while on the job. This should be purchased as soon as the first employee is hired! Not only can you face a high financial burden if someone is hurt on the job without coverage, but you may also be fined by your government if this policy is compulsory! Need another reason to purchase this plan? Employees or potential employees often find the benefits of these plans attractive and thus this may help you recruit the best team. On average, a workers compensation insurance plan will cost you $85/month.

Now time to think about the services you are providing. Are you selling a physical product? If so, listen up because Product Liability Insurance is a necessity for you. 

Read more: Workers Compensation Insurance

Product Liability Insurance 

We know. You spend endless amounts of time ensuring that your customers receive only the best from your company. However, even if you are certain your product is completely safe, misused products can often be dangerous; there is always a risk when someone is utilizing your product and accidents can happen. It is important that you are prepared in case of this event or it may cost you BIG time. In 2012, product liability lawsuits resulted in an average award of $3,439,035! Yes, you read that right. In order to protect your company from potential lawsuits, you should invest in a product liability insurance plan. This will cover legal fees, medical expenses, and business damages. 

Product liability insurance cost depends on the product you are selling and its associated risk: a paintball gun will cost more to insure than a doll. For low-risk items, you can expect to pay about $0.25 for $100 of revenue. For higher risk items, you may pay 10 times that amount.

Learn more: Product Liability Insurance & Completed Operations Coverage

Directors and Officers Insurance (D&O Insurance)

Directors and Officers Liability Insurance covers directors and officers, as well as their families, for claims made against them as they serve on a board of directors or as an executive of a company. This coverage comes in the form of legal fees and settlement costs. A few reasons a claim may be brought against a director includes fraud, misuse of funds, or misrepresentation of assets. Essentially, these policies function to cover these “management errors and omissions,” or claims that result from managerial decisions that have adverse financial consequences. This policy allows those in decision-making roles to not have to worry about the financial burden of a lawsuit brought against them and instead focus on business operations.

It is important to note, however, that the policy may not cover many cases of “intent.” This includes embezzlement or other situations where a person knowingly tries to leverage personal profit at the expense of the company.

So who should purchase this plan? Only larger companies? No! Any company that has a board of directors should consider purchasing a D&O policy. This plan is a bit pricier, with the median cost coming to $1,240/year.

Read more: Directors & Officers (D&O) Insurance

There are a number of different facets of running a business, each with their own associated risk. It is important to account for each one as any accident could otherwise end up costing your company big time. We have just a few more types of insurance plans to cover before we wrap it all up…

Got a car or vehicle associated with your company? Unfortunately, there are risks involved with it too. You may want to consider investing in: 

Commercial Auto Insurance 

If your business owns and operates vehicles, you want to be protected in case an accident occurs. Commercial car insurance policy is slightly similar to personal auto insurance. However, it covers your business’ vehicles at large rather than just the individual employees who may be driving. Additionally, commercial vehicle insurance plans can cover everything from cars to vans to food trucks, among many other vehicles. The average commercial auto insurance cost is around $1000/year.

Read more: Commercial Auto Insurance

Business Interruption Insurance

In the event of a catastrophe, business operations can cease, leading to loss of income and employee instability within your business. Business interruption insurance will compensate companies for intrinsic damages that occur during these times. This includes covering lost profits, training fees for new employees, and, if need be, a move to a temporary location. Business interruption insurance can either act as a standalone plan or an addition to a property insurance policy. So who can purchase this plan? Those who operate out of a commercial location- in other words, if you work from home, you likely would not qualify for a business interruption insurance policy. The average business interruption insurance cost is $1,200/year.

Read more: Business Interruption Insurance

Business Interruption Insurance COVID-19 Legislation

Liquor Liability Insurance

Do you operate a bar, brewery, vineyard, catering service, restaurant, coffee shop or other business that profits by manufacturing, selling, or serving alcoholic beverages? If so, it is imperative that you get liquor liability insurance. Inebriated patrons are much more likely to be involved in an accident, infusing this industry with inevitable risk. While you may not be able to able to control your customers, you can protect your business for liquor-related claims by purchasing liquor liability insurance. It is important to note, however, that not everyone needs to purchase one of these licenses. For example, if your office throws a party and alcohol is present, your general policy will likely cover any accidents that occur. This is because your company does not profit off of selling alcohol. If you are in the business of purchasing a liquor liability insurance plan, however, the cost will heavily depend on the business you run. For example, a bar can expect to may far more than even a restaurant or catering company. 

Business Owner's Policy: BOP Insurance

Business Owner's Policy, also known as BOP insurance, combines several essential business insurance policy coverages, both commercial property and liability risks, in to one policy that mostly provides significant savings in comparison to getting each of these policies separately.

Learn more about Business Owners Policy (BOP) Insurance through our extensive guide.

Ocean & Inland Marine Insurance

Marine insurance, also known as maritime insurance, is a type of commercial insurance that covers damage and loss caused to cargo, ships, boats, yachts, terminals and any marine vehicle that transfers property from one point to another point through the ocean/sea.

Read more: Ocean & Inland Marine Insurance

Compare Cheap Business Insurance Quotes

Get all the best quotes from leading providers in a click of a button!

In partnership with:

Identity logo

In partnership with:

Coverwallet logo

Let’s Sum it Up…

Okay that basically sums it up! Business insurance is incredibly multifaceted, and not every type of plan will apply to your business or benefit your company. To review, here are the types of commercial insurance policies and coverage options we just covered:

While some are standalone policies, others typically act as add-ons to a more general plan. Be sure to keep this in mind.

What Comes Next?

The first place to start when developing a business insurance strategy is to lay out your potential risks. Do you operate business-owned vehicles? Do you have office space? Do you have employees? How many? These types of questions can help you develop a list of your “responsibilities”, or what your business is liable for. Ultimately, this will not only help you determine which plans are best suited for your company but will also help you gauge the amount of money you will be investing in these plans. 

The truth is that accidents and conflicts are often inevitable, so while trying to avoid them is always the goal, the best preparation is a solid insurance plan. Upon developing your list of “responsibilities”, you should begin to look at what risks you would like to insure. Ask yourself, in the worst of scenarios, how can my business be damaged by an accident or a lawsuit? After you’ve thought carefully about this question, it is time to look into how best minimize damage to your business if these scenarios were to occur. This is where Insuranks comes into play. Using our simple layout, you can efficiently find competitive quotes on various insurance packages. Thus, the often-intimidating concept of “business insurance” can be broken down and solved in smaller, simpler components. Although it all may seem like a lot now, getting insurance plans for your business now will pay off in the long run…an accident can cost your company greatly, even millions, if you are unprepared.

  • Compare cheap business insurance quotes in all 50 states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming 

References & Resources

Recent Reviews

Recent Posts

Auto Insurance

Life Insurance

Health Insurance

Home Insurance

Business Insurance

Travel Insurance

Cyber Insurance

Pet Insurance

Medicare Insurance

Cheap Business Insurance Near Me