7 Best Business Insurance Brokers 2022

Rebecca Michael has more than 20 years of experience writing for little clientele and ran her own capacity business. She was an early employee and message contributor at LegalZoom, specializing in educating SMBs on corporations and LLC clientele formations. occupation insurance brokers act as a “ jobber ” to connect businesses with commercial indemnity providers while offering the profit of quick comparisons between carriers. Brokers can pair you up with the right field coverage packages and limits to best serve your alone commercial enterprise needs .
The best business policy brokers are partnered with the biggest carriers, offer assorted coverages for all businesses, and have features to make managing your policies easier .
We ’ ve researched many of the peak commercial insurance brokerages and selected the best seven options for you.

  • CoverWallet: Best overall for selection of carriers and coverage options
  • Simply Business: Best for solopreneurs and freelancers
  • CyberPolicy: Best for cyber liability insurance and cybersecurity resources
  • Embroker: Best for emerging industries and startups
  • Huckleberry: Best for fast insurance coverage
  • Next Insurance: Best for complete online insurance management and service
  • Layr: Best for easy-to-use interface and overall customer experience

If you ’ re not sure which of these humble business insurance brokers is best for your needs, take this three-question quiz to find out :

Which Insurance Broker Is Right for You?

Answer a few questions about your business, and we ‘ll give you a personalize product match .

Question 1

What is the size of your company?

question 1 of 3

    1 moment approx
    5 employees or fewer

    Greater than 5 employees

    Question 2

    Are you looking to get basic insurance for a new business?

    motion 2 of 3

      1 moment approx
      Yes, this is for a new business

      No, this is not for a new commercial enterprise

      Question 3

      Are you an IT and/ or ecommerce business?

      question 3 of 3

        1 minute approx
        Yes, we rely heavily on engineering for our operations

        no, we aren ’ deoxythymidine monophosphate very reliant on engineering for our operations

        CoverWallet: Best Overall Business Insurance Broker

        CoverWallet logo.
        CoverWallet is an on-line brokerage service owned by Aon, one of the largest policy agencies in the worldly concern. This platform lets you get free quotes from multiple carriers at once and offers easy-to-understand direct comparisons between your options. It stands out as our pick for the best overall business indemnity agent because of the dispatch image of diligence and coverage capabilities offered by the chopine .

        PROS memorize
        Simultaneous quote options can be generated and compared in minutes No online claims management service
        Just about all types of coverages are available for all industries For certain carriers or coverages, you may have to call an agent to finish the quoting process
        Easy process from online quote to purchase Charges a broker fee and other fees for certain situations
        Supplemental tools including online policy management and free advice from experts

        Visit CoverWallet

        Coverage

        equitable about any clientele from any industry can purchase a policy with CoverWallet as the carriers it sells for can underwrite all standard coverages, such as cosmopolitan liability, workers ’ recompense, commercial property, and business owners policies ( BOP ). It can besides do all lines of specialization coverages, including cyber liability, professional indebtedness, limited events coverage, and a lot more .

        Carriers

        CoverWallet presently works with several national carriers and seems to continue to add more each class. Its main carriers include :

        • Chubb
        • AmTrust
        • CNA
        • Hiscox
        • Liberty Mutual
        • Progressive Commercial
        • EMPLOYERS
        • Markel
        • Atlas
        • Blackboard
        • Berkshire Hathaway Guard

        even with modern carriers added year-to-year, it only partners with the finest indemnity companies that hold an A.M. Best rat of A or higher—indicating strong and dependable fiscal constancy .

        Other Features

        In summation to finding policy through CoverWallet ’ s web site, it offers auxiliary services during procurement and after the coverage is bound. Some of these extra features include :

        • Insurance needs assessment: Use CoverWallet’s Insurance Checklist for help determining your coverage needs based on your location, revenue, and the number of employees.
        • Online policy management: Utilize its online portal to manage policies, make payments, download and share certificates of insurance (COIs), and obtain additional coverage if needed.
        • Online resources: Access its full online resource directory for business owner tips, insurance help guides, news articles, and an insurance term glossary.

        Simply Business: Best for Solopreneurs and Freelancers

        Simply Business Logo.
        Simply Business offers an on-line quoting mechanism that is particularly utilitarian for independent contractors, solopreneurs, and freelancers. The main reason behind this is that while Simply Business can help you obtain a across-the-board range of coverage from versatile carriers, most of the coverages won ’ metric ton give you a quote immediately from the site but require you to call the carrier for a quotation mark .
        The main exceptions to this principle are for general indebtedness and professional indebtedness coverages, which do offer premium and coverage comparisons from the web site. These two coverages are broadly going to be the most important for a little, solo-operated business, freelancer contractor, or freelance worker .

        PROS convict
        Instant quote comparisons from multiple carriers at once No online claims management
        Policies available for immediate online purchase Online quotes can mostly only be generated for general liability or professional liability insurance, other coverages require you to call directly to the carriers
        No broker or additional fees Limited coverage policy options
        Lots of online resources available, particularly for licensing as well as managing a business during the COVID-19 pandemic Certificate management is limited to submitting an online web form requesting a certificate from the broker

        Visit Simply Business

        Coverage

        Because of the web site capabilities and partnerships with many small clientele policy companies, Simply Business promotes itself as specializing in providing coverage for contractors, subcontractors, freelancers, specify liability companies ( LLCs ), freelance individuals, and exclusive proprietors. Whether a quotation mark is provided on-line or an extra step is required by calling the carrier, these are the specific coverages it can assist with :

        • General liability
        • Workers’ compensation
        • Professional liability and errors & omission (E&O)
        • Home-based businesses
        • Cyber insurance
        • Business personal property
        • Inland marine

        Carriers

        Simply Business is one of the top humble business indemnity brokers as it works with a properly wide roll of carriers which include the following :

        • Acadia Insurance
        • American Builders Insurance Company
        • Accredited America
        • AXIS Insurance
        • Clear Blue Insurance
        • CNA
        • Frank Winston Crum Insurance
        • Harborway Insurance
        • Hiscox
        • Markel
        • NASW Risk Retention Group
        • RLI Insurance
        • SolePro
        • Travelers
        • USG Insurance

        Other Features

        Simply Business offers alone resources online through the Simply U cock, which has guides for country business license, contractor license, and keeping your clientele moving during the COVID-19 pandemic. additionally, the web site allows you to submit requests for certificates. These, however, aren ’ triiodothyronine instantaneous and do require around a 24-hour wait to get them sent to the agentive role .

        CyberPolicy: Best for Cyber Insurance and Cybersecurity Resources

        CyberPolicy logo.
        While the name suggests that this clientele policy broker is limited to precisely cyber policy, CyberPolicy can help procure other coverages as well. It ’ s the easy-to-use arrangement, connection with top-of-the-line cyber carriers, and utilitarian cybersecurity resources that make this broker a great source for purchasing cyber indemnity .

        PROS con
        Instant quotes online for free from top-rated carriers No online claim management or certificate management features
        Platform offers strong user experience with an interface that’s easy to navigate Instant quotes don’t work for every type of coverage
        Advisers standing by to discuss coverage as needed
        Free online resources including cyber security checkup and insurance guru tools
        No broker fees and offers transparent pricing (starting premiums are listed on the website for each coverage)

        inflict CyberPolicy

        Coverage

        In addition to specializing in cyber indemnity, CyberPolicy can help users navigate the marketplace for other standard and specialization coverages which include :

        • General liability
        • Business owners policy (BOP)
        • Professional liability
        • Workers’ compensation
        • Directors & officers (D&O)
        • Commercial auto

        It should be noted that not all of the coverages can provide quotes and comparisons online. many non-cyber coverages will require you to contact the carrier or go through another step in the application process .

        Carriers

        CyberPolicy works with more than 15 business policy carriers, including ones known for robust cyber coverage, such as Coalition, Chubb, and Hanover. other carriers it partners with include :

        • Acuity
        • AmTrust
        • Beazley
        • BCS Insurance
        • Berkshire Hathaway
        • biBERK
        • Employers
        • Hartford Steam Boiler
        • Hiscox
        • Liberty Mutual
        • Nationwide
        • Markel
        • Progressive

        Other Features

        early benefits and services of CyberPolicy come from its educational tools and cybersecurity resources. Some of the independent supplementary features include :

        • CyberCheckup: A free tool offering vulnerabilities and security gap analysis for your business.
        • InsuranceGuru: Another free tool to help assess your other business insurance needs and provide recommendations on coverages.
        • Education center: An online blog with articles on cybersecurity best practices, news, and trending topics, as well as a comprehensive cybersecurity terms glossary.

        Embroker: Best Business Insurance Broker for Emerging Industries

        Embroker logo.
        Embroker promotes itself by providing services for specific business stages and industries. For example, it will curate packages for startups and growth-stage businesses with venture capital investment. furthermore, it has good recently begun focusing its efforts on helping “ hard-to-place ” businesses, such as crypto & blockchain, cannabis, and aviation firms find policy .

        PROS memorize
        Offers resources and specialized insurance packages for growth and startup businesses Additional fees may apply
        Claims management tools online No payment plans on insurance coverages
        Instant quotes and online purchasing No online certificate management features
        Business specialties in emerging industries that can be tough to cover

        inflict Embroker

        Coverage

        Embroker will design different packages based on certain attributes of a business, such as being a inauguration or in the emergence stages. It besides offers packages for wide management liability, asset auspices for protecting venture capital firms, and owner- and contractor-controlled construction projects .
        The coverage capabilities of Embroker include but aren ’ deoxythymidine monophosphate limited to :

        • BOP
        • Commercial crime
        • Cyber liability and data breach
        • D&O
        • Employment practices liability
        • Fiduciary liability
        • Professional liability
        • Legal professional liability
        • Technology E&O
        • Workers’ compensation

        Carriers

        While Embroker advertises as working with more than 50 carriers, the specific ones aren ’ thymine mentioned on its web site. Based on the coverage capabilities, unique specialties, and having the highest net showman Score ( NPS ) of any policy business, however, it can be assumed that Embroker ’ mho carriers have firm financials and can maintain their cover capacity long-run .

        Other Features

        Embroker ’ s web site offers resources for managing business uncertainty, a inauguration package calculator for determining inauguration policy costs, and respective web log posts and guides for all types of businesses. This brokerage house besides allows you to file claims on the web site with one of its experts through an easily and help action .

        Huckleberry: Best Small Business Insurance Broker for Fast and Easy Insurance Coverage

        Huckleberry logo.
        Huckleberry is by army for the liberation of rwanda the most convenient broke to use on this list—if you don ’ deoxythymidine monophosphate mind doing everything yourself. It ’ mho ideal for those that simply want to get quotes and purchase indemnity in a few minutes. The instant quote and comparison ferment for all lines of coverage and allows insureds to manage and pay for their coverage on-line .

        PROS memorize
        Instant quote comparisons and online purchasing for all coverages No online claims management service
        Online certificate management with instant COI generation Online application for instant quote is the only way to get quotes
        Great resources on the website for insurance and small business topics

        visit Huckleberry

        Coverage

        Huckleberry is by and large designed for smaller, local businesses, like restaurants, bars, cleaners, trade contractors, checkup offices, day cares, photographers, and some nonprofits. however, most of the policy coverages it procures will fall in cable with those small business needs, such as :

        • Workers’ compensation
        • BOP
        • General liability
        • Commercial auto
        • Business property
        • Business interruption
        • Professional liability
        • Hired & nonowned auto
        • Liquor liability
        • Employment practices liability
        • Spoilage coverage
        • Equipment breakdown
        • Employee dishonesty

        Carriers

        Because of the commercialize that Huckleberry is built for and the appliance factor this broker offers, it partners with many belittled business carriers that traditionally provide childlike procurement systems through an easy-to-use lotion work. Some of these include :

        • AmTrust
        • Berkshire Hathaway Guard
        • Chubb
        • Employers
        • The Hartford
        • Hiscox
        • Merkel

        Other Features

        Huckleberry insureds can manage their policy and certificates all on the web site. Its web site besides has alone tools for little businesses, such as an indemnity dictionary and a workers ’ compensation calculator for estimating premiums. There ’ second besides a web log and an Ask Huckleberry feature with in-depth answers to frequently asked questions ( FAQs ) .

        Next Insurance: Best Broker for Complete Online Services

        Next Insurance logo.
        While other business indemnity brokers on this list can do either online claims management or online certificate management, Next Insurance is one of the few that can offer both in one system. This, in addition to the fully digital have of being able to shop coverages, beget quotes, tie coverage, and pay premiums, gives it our crown for the best broker for on-line services .

        PROS victimize
        Easy application process with instant quotes and online purchase capabilities Unable to procure certain specialized coverages, such as management liability or builders risk insurance
        Online claims and certificate management Certain states may not let you procure specific lines of coverage
        Discounts available for bundled policies

        Visit Next Insurance

        Coverage

        With the exception of certain coverages like management liability, builders ’ risk, and key person policy, Next Insurance presently offers closely all policy coverage types a business will need to operate. This includes both standard coverages like general liability, BOP, and workers ’ recompense, vitamin a well as specialize lines like cyber, professional, and liquor indebtedness .

        Carriers

        next Insurance partners with 16 highly-qualified carriers that can adequately support little business policy needs. The instant on-line coverage can be provided through the following carriers :

        • AmTrust
        • Travelers
        • The Hartford
        • Hanover
        • ShelterPoint
        • SFM
        • Pinnacol
        • Markel
        • Liberty Mutual
        • Hiscox
        • Employers
        • Next
        • CNA
        • Chubb
        • Berkshire Hathaway Guard
        • Atlas

        Other Features

        As mentioned previously, the top auxiliary features this broke has available is the ability to manage claims, certificates, charge, and policies all online. furthermore, there ’ second a help oneself focus on and a blog for users to easily find information or get live chat digest for their policies .

        Layr: Best for Easy-to-Use Interface and Customer Experience

        Layr logo.
        Backed by the Lloyd ’ mho of London, one of the oldest insurance companies in the world, Layr offers an on-line chopine that has transformed the means on-line policy broker is done. The system ’ randomness interface is clean, easy to navigate, and highly useable even for those who ’ ve never bought policy digitally ahead. furthermore, you can get quick quotes from a variety of carriers and continue to manage your policy and claims after it ’ s tie down .

        PROS memorize
        Online business insurance management tools for claims, certificates, and billing Limited to mostly small business insurance coverages
        Fast and easy quoting process with policies bound in as little as 48 hours Lacks transparency in which carriers it represents
        User interface is easy to navigate and offers a great user-experience for operating its features Cannot procure certain specialty coverages, such as builders risk or management liability

        Visit Layr

        Coverage

        Layr doesn ’ thyroxine appear to offer any coverages apart from the basic policies that most modest businesses need, such as BOP, commercial car, cyber, general indebtedness, professional, and workers ’ compensation. unfortunately, the platform can not assist with insurance typically needed by larger businesses, such as directors & officers, or employment practices liability policy .

        Carriers

        While Layr works entirely with policy companies rated “ A ” or higher by A.M. Best, its web site entirely indicates that it works with major national carriers and has access to others through wholesale indemnity agencies. There ’ south no specific list that outlines which specific carriers it partners with .

        Other Features

        The serviceability of the system is Layr ’ s greatest property for those that want to work with this carrier. Everything is done either through the Smart Quote feature for acquiring quotes and binding coverage or the Secure Portal faculty, which is where all policy management activities take locate. Layr besides offers on-line little commercial enterprise resources, including a blog, FAQs foliate, and eBooks with frightful industry insights.

        How We Evaluated Business Insurance Brokers

        To provide an apples-to-apples comparison of each business policy broke, we evaluated certain attributes that are crucial when working with an insurance broke. note that pricing international relations and security network ’ t typically determined by a broke ; therefore, it wasn ’ t used in the evaluation procedure .
        Below are the five main evaluation criteria used :

        • Carrier range: The more carriers that are available to the broker, the better chance that a business will have access to the most optimal coverage policies, limits, endorsements, deductibles, and premiums available on the entire business insurance market. We also evaluated this in terms of the financial strength of the carriers that partner with the broker.
        • Policy coverages available: This was evaluated in terms of the number of coverages the broker can help procure. More coverage options mean centralization for the insured where they can attain and manage all their policies in one place.
        • Ease of use and experience: We looked at the usability and simplicity of using the broker when completing an application, working with a representative, navigating the broker’s website, or using the policy management features available on the website.
        • Service capabilities: In addition to helping your business procure insurance, some brokers offer additional claims, certificate management, and risk management services, as well as supplemental insurance resources that can be accessed on their website.
        • Customer service: Service often depends on the carrier you end up buying your policy from, but some online brokers offer better assistance by providing 24/7 customer support, helping when filing claims, or offering online resources, such as a blog or FAQs page, for insurance information.

        Bottom Line

        When your organization is looking to shop for policy, business policy brokers can offer policy customization and optimization because of their huge partnerships with different carriers. Depending on which service or feature attributes you prioritize and the type of occupation you ’ re in, one or a few of our picks for the best business insurance brokers will be well suited for you than others .

        source : https://shoppingandreview.com
        Category : News
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