8 Best Business Insurance for Startups in 2024

Learn more about the best startup business insurance providers.

Startup business insurance serves as a safety net that protects your company from unforeseen circumstances such as lawsuits, property damage, or even a cyber-attack. In our review of the best business insurance for startups, we strive to make your choice easier and your business safer. We break down and analyze the top providers, considering factors like coverage options, cost, customer service, and reliability.

Our #1 Pick: Next Insurance

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Unsure if Next Insurance is right for you? Continue reading our comprehensive review below to learn more and explore your options.

Top Startup Business Insurance

Next Insurance

four point seven out of five


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Best Business Insurance Overall

  • Fast approval and coverage
  • Lower costs than some competitors
  • Highly-customizable policies


four point six out of five


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Best for Small Businesses

  • Expedited quote and approval process
  • Easy-to-use platform
  • Robust customer experience analytics

The Hartford

four point five out of five


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  • Quick application process
  • Coverage for a large number of industries


four point five out of five


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  • Short-term and long-term policies
  • Lower cost than some competitors


four point four out of five


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  • Startup-centered insurance policies
  • Variety of coverage types available


four point four out of five


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  • Trusted by major startups
  • Geared towards fast-scaling tech startups


four point three out of five


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  • Quick customer service help
  • Excellent customer reviews


four point three out of five


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  • No-obligation quotes available
  • Highly reputable company

Startup business insurance provides liability protection and risk management for vital parts of your business. Many insurance companies offer customized policies based on business type, industry, and sometimes startup stage. 

To determine the best business insurance for your startup, you first need to decide the type of coverage your business needs. An ideal insurance provider will not only provide you with the coverage you need but also offer top-tier customer support and services catered to your business type, such as personalized policies. 

These are the top startup insurance companies to consider based on price, ease of use, and coverage available.

Best Startup Insurance in 2024:

  1. Next Insurance – Best Startup Insurance Overall
  2. Tivly – Best for Small Businesses
  3. The Hartford – Best for Brick-and-Mortar Businesses
  4. Thimble – Best for Solopreneurs and Side Hustles
  5. Embroker – Best for Venture-Backed Startups
  6. Vouch – Best for Tech Startups
  7. Hiscox – Best For Nonprofits
  8. CoverWallet – Best for Basic Insurance Coverage

Protect Your Startup with Next Insurance

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1. Next Insurance

Next Insurance is a one-stop solution designed to meet the unique insurance needs of businesses. Launched in 2016, this digital-native company offers a range of insurance products tailored specifically for the dynamic startup environment.

Next Insurance offers several policy types, catering to a wide variety of small businesses. Some of the most popular options include:

  • General Liability
  • Workers’ Compensation
  • Business Owner’s Policy
  • Commercial Auto
  • Commercial Property

Next Insurance shines with its simple online interface, bespoke policy options, and quick response times, making it a perfect fit for agile startups seeking convenience and flexibility.


  • User-friendly online platform
  • Customizable coverage options
  • Fast quote turnaround time
  • 24/7 customer service


  • Limited in-person service
  • Not all industries covered

Price Breakdown

Next Insurance provides a free online insurance interview to help you compare your coverage options based on your profession, state of residence, and business details. During this interview, you’ll see initial price quotes for various insurance types.

After completing the interview, you can buy same-day coverage or start at a future date. You also have the ability to customize your policy benefits or drop to the minimum coverage to get the ideal protections for your preferred budget.

Overall, Next Insurance offers a convenient, online, quick-to-access insurance solution for startups and small businesses. With its variety of coverage options, easy claim process, and the ability to customize policies according to business needs, it stands out as a strong contender.

Protect Your Startup’s Future With Next Insurance

Secure comprehensive insurance coverage tailored for your business with Next Insurance’s flexible plans.

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Learn more by reading our Next Insurance review.

2. Tivly

Tivly partners with qualified insurance companies across the United States to offer a wide range of affordable insurance quotes, including:

  • General Liability Insurance
  • Business Owner’s Policy
  • Commercial Vehicle Insurance
  • Workers’ Compensation Insurance
  • Commercial Umbrella Insurance


  • Easy to use 
  • Expedited online quote generator
  • Real-time analytics to improve customer experience
  • Ideal for small businesses


  • Because Tivly tends to work best with small businesses, it’s not the best choice for larger enterprises.
  • Tivly is not technically an insurance lender — it is a service for finding insurance quotes.
  • No live chat

Price Breakdown

The price range varies significantly because it depends on the number of insurance policies that you have covered. Below is a breakdown of the median costs of some policies in accordance with the Tivly website:

  • Workers’ Compensation Insurance: $68 per month
  • General Liability Insurance: $46 per month
  • Professional Liability Insurance: $42 per month
  • Business Owner’s Policy: $62 per month

Keep in mind that there are a few additional policies that cannot be accurately estimated because they are highly dependent on how much coverage you wish to add (e.g., Umbrella Policy, Business Hazard Insurance, etc.). 

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3. The Hartford

The Hartford started in 1810 as a fire insurance company but has since grown into a Fortune 500 company that serves over 500,000 small businesses.

The Hartford specializes in over 20 industries, including but not limited to:

  • Graphic Design
  • Business and Personal Services
  • Consultants 
  • Finance and Insurance
  • Property Managers
  • Manufacturers (including metal manufacturers)
  • Wholesalers
  • Technology and Life Science


  • High applicability: Can service businesses in virtually any sector
  • Over 200 years of experience as a trusted insurance provider
  • Additional benefits (e.g., Nursed Back to Health program, The Hartford’s Preferred Medical Provider Network access, etc.). 
  • Fast online quote generator that can generate pricing information within 10 minutes
  • Excellent customer service


  • Large discrepancy between the reviews on the provider’s website and third-party reviewers.
  • Not the fastest claims handling process
  • No coverage available in Alaska, Hawaii, or New Jersey
  • Slow set up process — prospective customers are required to talk to agents in order to make purchases

Price Breakdown

The Hartford does not offer average quote estimations, as the price of each coverage policy varies significantly from business to business and will ultimately depend on each company’s risk profile, industry, and size.

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4. Thimble

Thimble is a great startup insurance option to get coverage fast. The following coverage types are available through Thimble: general liability, professional liability, business owner’s policy (BOP), commercial property insurance, and cyber insurance. 

One of the biggest benefits of obtaining coverage through Thimble is that they offer short-term and long-term policies. Therefore, you can get coverage on a per-job, per-month, or per-year basis; this allows you to tailor your insurance to your business needs and expand coverage as you grow. 


  • Fast application and approval process 
  • Applications can be done online, over the phone, or with the app 
  • Coverage by the job, month, or year 
  • Manage, modify, or cancel policies easily on the website 


  • Fewer reviews available than competitors 
  • No commercial auto coverage available 

Price Breakdown

The price of Thimble’s policies will vary based on a per-customer basis. However, the provider states that general liability insurance from Thimble starts at $17 per month.

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5. Embroker

Embroker is a startup-centric insurance provider featuring a ‘startup package’ tailored to the insurance needs of both venture-backed companies and non-funded tech companies. 

They also provide coverage for other industries, such as cannabis businesses, venture capital firms, cryptocurrency startups, and law firms. A few of Embroker’s coverage types include business owner’s policy (BOP), cyber and data breach, key person insurance, and commercial crime. 


  • Instant quotes 
  • Excellent customer service 
  • Startup-centric coverage 
  • Variety of coverage types available


  • Fewer customer reviews than competitors
  • No mobile application

Price Breakdown

Embroker doesn’t offer pricing on their website. However, you can easily determine the cost of their startup insurance package for your company’s needs using their Startup Package Calculator.

6. Vouch

Geared toward venture-backed tech companies, Vouch is an insurance provider that aims to provide services for fast-scaling, funded startups. 

With clients such as Brex, Carta, Y Combinator, and WeWork, Vouch is trusted by some of the biggest names in the startup ecosystem. Their coverage types include fiduciary liability, media liability, employment practices liability, and more. 


  • Pricing is available in minutes 
  • Ideal for fast-scaling companies 
  • Tailored coverage to your startup stage and vertical
  • Easy-to-use interface allows you to manage your coverage virtually


  • Not ideal for small businesses
  • Pricing information is scarce 

Price Breakdown

Vouch doesn’t disclose average pricing information on its website. However, you can obtain a price quote tailored to your startup in minutes on the website

7. Hiscox

Hiscox started out over 100 years ago, in 1901. Interestingly enough, the initial founder of Hiscox — A E Roberts — was an underwriter for Lloyds — the largest maritime insurance firm in the world. 

To this day, Hiscox remains one of the most reputable insurers within the US, having won multiple awards for sublime customer service, commercial insurance practices, and team efficacy. 

Hiscox also offers an exceptionally high number of industry-specific coverage policies, including but not limited to:

  • Not-for-profit organizations
  • Financial and legal businesses (e.g., banks, law firms, etc.)
  • Food and beverage businesses
  • Design and Construction
  • Advertising and creative businesses
  • Health and Wellbeing
  • IT and Technology
  • Coaching, training, and education


  • Reputable — Hiscox has received multiple awards, including Commercial and Personal Lines Team of the Year in 2011, Customer Care award in 2012, and General and Commercial Lines Insurer from 2007–2009
  • Emphasis on good representation and quick customer service
  • Offers policies and coverages that tailor to most businesses
  • Excellent customer service reviews


  • Limited positive reviews outside of Hiscox’s company website. Although this is a common trait among insurance providers, it is still worth noting. 

For a further overview, check out our article on Hiscox Business Insurance.

Price Breakdown

The typical costs for Hiscox’s policies can be found below:

  • General Liability Insurance: $30 per month or less
  • Business Owner Insurance: $41.67 per month
  • Errors and Omissions Insurance: $22.50 per month
  • Professional Liability Insurance: $22.50 per month

Hiscox does not offer a direct quote range for most of its policies. To find out how much each policy will cost your startup, speak with a licensed agent at 1-866-283-7545 or request a quote on the Hiscox website.

8. CoverWallet

CoverWallet is a company with a prolific network of insurance partners. They provide tailored advice and insurance-based solutions to businesses of all sizes and industries.

The company records and stores all of its data online. This is substantial because it allows users to view the following items straight from the provider’s online dashboard:

  • Past payments
  • Statements
  • Coverage documents
  • Policy-related documents 


  • Great support documents
  • Free no-obligation quotes
  • Can browse through different business insurers simultaneously
  • High number of insurance policies


  • Slow customer service response
  • Getting an online quote can sometimes be delayed: This may not be ideal for small businesses looking to move fast. 

See TRUiC’s CoverWallet small business review to find out more.

Price Breakdown

The price range varies significantly because it depends on the number of insurance policies that you have covered. Below you can find a breakdown of the average price range of some policies in accordance with CoverWallet’s website.

  • General Liability Insurance: $60-$170 per month
  • Business Owner’s Policy: $41.60-$1,250 per month
  • Professional Liability Insurance: $83-$250 per month
  • Directors and Officers Insurance cost: $333 per month (startups with less than $50 million in revenue)
  • EPLI Insurance: $125 per month for $1 million in liability coverage (if you have five or fewer employees)

You can request an online quote with CoverWallet or call 646-844-9933 to determine how much each policy will actually cost your business. 

Honorable Mentions

While these providers aren’t in our top 8 list of business insurance for startups, they are still viable options for small businesses, startups, and large corporations. These are some additional insurance providers to consider:


Chubb offers policies for businesses of all sizes, from multinational corporations to growing small businesses. With personalized commercial insurance and risk management offerings, Chubb offers a range of services tailored toward the needs of growing businesses.


Nationwide is one of the most popular insurance companies in the United States. Their coverage types include standard offerings such as business owner’s policy (BOP), business liability, commercial property, commercial auto, workers’ compensation, and more. 

State Farm

Like Nationwide, State Farm is one of the most widely used insurance companies in the United States. State Farm is a trusted provider offering business insurance coverage in the following areas: workers’ compensation, builders risk, surety and fidelity bonds, commercial liability, commercial auto, and business owners policies. 


CNA offers customizable business insurance for a variety of industries, including financial services, healthcare, life sciences, and technology. They have multiple insurance packages for various startup needs as well as specific coverage types such as marine, cyber, and workers’ compensation. 

How Much Does Business Insurance Cost?

Investigating prices can be a very daunting task for finding the best business insurance for your startup. 

This is because the price that you will have to pay will be dependent on varying factors, meaning that you will need to request an online quote where you provide your business’s specificities. This is often done through an online form, an online quote generator, or a phone call consultation with an insurance agent.

The following factors are considered to determine the cost of your coverage:

  • The number of insurance types that your business requires in order to be fully covered
  • The industry that you work in. This will affect your risk profile (e.g., maritime, gambling, currency exchange, etc.). 
  • The size of your business. How many assets does your business owe? Is your business liquid?
  • Your risk profile. Do you have any instances of malpractice, negligence, or claims?

The most influential factor from the above is generally the number of insurance types that you wish to purchase. 

Aside from the obvious added cost of adding more coverage policies, this is also the case because different types of insurance can be a lot more expensive than others — the higher the number of insurance coverage you need, the more likely you will have to pay for a “premium” one. 

For most small businesses, we advise “finding the line” between not spending money unnecessarily on coverage you will likely never need and ensuring that you are always protected from reasonable foreseeable risks that relate to your business structure, size, and industry. A specialized insurance agent can be great for helping you decide what coverage you need.

Frequently Asked Questions

What is business insurance?

The term “business insurance” is typically used as an umbrella term to describe a type of commercial insurance that protects businesses against liability that could arise from day-to-day business activities. 

There are a very high number of business insurance policies covering virtually any situation in any sector. Having said that, these are the most common ones for small businesses and startups:

For more information, see our guide on small business insurance.

Do I need business insurance?

Whether you “need” business insurance comes down to risk. You will need to assess what your risks are, how flexible your budget is, and whether it would be warranted to purchase coverage that shields you from certain liabilities. 

This can depend on several factors, including your business structure (e.g., do you have limited personal liability, etc.), your industry, and your size. 

Generally speaking, it is a good idea to speak to a professional insurance agent before making a decision.

Do owners of LLCs need insurance?

Owners of LLCs benefit from limited personal liability. This means that their personal assets are not at risk if their business happens to accrue significant debt or become insolvent in the future. 

Having said that, an LLC is a separate legal entity from its owners under the law, and this means that it can have its own bank accounts, revenue, profit, and assets.

These are not protected by the limited liability of an LLC structure and can only be shielded from future liability if its owners choose to purchase LLC insurance voluntarily.

What coverage should I get for my business?

This will depend on several factors, all of which affect your risk profile: 

  • Do you have employees? If so, how many?
  • Are you in a high-risk industry (e.g., maritime, gambling, etc.)?
  • How large is your business? How many assets will be subject to legal claims if you do not purchase insurance?
  • Have you had previous insurance claims or lawsuits in the past? This will likely mean you will have to pay larger premiums to be insured.