The Hartford Business Insurance Review 2024

Looking for business insurance can feel overwhelming with countless providers offering various coverage options and features. The Hartford is one of the most established names in business insurance, and our comprehensive review examines the company’s coverage options, pricing, customer service, and claims process to help you determine if it’s the right fit for your business needs. Here’s what you need to know about The Hartford’s business insurance services — from the company’s core offerings to how they stack up against those offered by newer competitors.

What Is The Hartford?

The Hartford is a leading provider of commercial insurance solutions with a history dating back to 1810. The company offers a comprehensive suite of business insurance products tailored to organizations of various sizes — from small businesses to large corporations. This provider’s core business insurance offerings include general liability insurance, business property coverage, workers’ compensation insurance, commercial auto insurance, professional liability insurance, and business owner’s policies (BOP) that bundle multiple coverages for efficiency and cost-effectiveness.

What sets The Hartford apart in the business insurance space is the company’s industry-specific expertise and risk engineering services. The Hartford provides specialized coverage solutions for diverse sectors, including technology, manufacturing, professional services, construction, and healthcare. 

The Hartford at a Glance

Pros & Cons of The Hartford

Pros

• Comprehensive Coverage Options: There’s a wide range of customizable insurance products that you can bundle for cost savings.
• Industry-Specific Expertise: The Hartford provides tailored solutions for different business sectors with a deep understanding of industry-specific risks.
• Excellent Claims Process: The Hartford is known for efficient claims handling and high customer satisfaction during claims processing.
• Risk Management Resources: This provider’s extensive risk engineering services and online tools help its customers prevent losses.

Cons

• Higher Premium Costs: The Hartford is generally more expensive than some competitors — especially for small businesses.
• Limited Coverage Areas: Some specialty insurance products may not be available in all states or regions.

The Hartford Business Insurance Products

The Hartford offers a comprehensive suite of business insurance products designed to protect companies of all sizes from various risks and liabilities. Here’s an overview of the company’s most popular insurance offerings that help businesses safeguard their operations, assets, and employees.

General Liability Insurance

This foundational coverage protects businesses against third-party claims of bodily injury, property damage, and advertising injury. The Hartford’s general liability insurance includes coverage for claims of bodily injury, property damage, reputational harm, advertising injury, and damage to property rented to you.

Professional Liability Insurance

Also known as errors and omissions (E&O) insurance, this coverage protects businesses against claims of negligence, mistakes, or failure to deliver promised services. The Hartford’s professional liability insurance is particularly valuable for service-based businesses, consultants, and professionals because it covers legal defense costs and potential settlements.

Workers’ Compensation Insurance

The Hartford’s workers’ compensation insurance provides comprehensive coverage for employee injuries and illnesses that occur on the job. Specifically, it  includes medical care coverage, compensation for lost wages, and rehabilitation services. The Hartford is particularly known for its “Nursed Back to Health” program, which assigns an experienced nurse to employees to provide personalized care and treatment. 

Data Breach Insurance

Designed to protect businesses from cyber threats, this coverage helps companies respond to — and recover from — data breaches and cyber attacks. This policy, when obtained through The Hartford, includes a myriad of coverage for legal services, notification expenses, extortion paid to recover files obtained in a ransomware attack, and more. 

Business Property Insurance

This coverage protects a company’s physical assets, including buildings, equipment, inventory, and furniture from damages due to fire, theft, vandalism, and certain natural disasters. Customers can use The Hartford’s property insurance for rented or owned properties, protecting business owners in case of emergencies. 

Commercial Auto Insurance

The Hartford’s commercial auto insurance covers vehicles used for business purposes, including coverage for accidents, theft, and damage. The company’s policies include bodily injury liability protection, collision coverage, and comprehensive coverage. 

Business Owner’s Policy 

This package combines general liability insurance, business property insurance, and business income insurance into one convenient policy. The Hartford’s BOP particularly suits small to medium-sized businesses, offering comprehensive protection at a more affordable rate than purchasing each type of coverage separately.

Business Income Insurance

This coverage helps replace lost income when a business must temporarily close due to a covered property loss. The Hartford’s business income insurance covers mortgage and rent payments, employees’ wages and payroll, loss of income during a period of restoration, loan payments, and tax payments. 

Management Liability Insurance

This specialized coverage protects directors, officers, and managers from claims related to their management decisions. The Hartford’s management liability insurance includes directors and officers (D&O) coverage, employment practices liability (EPL) coverage, crime insurance, and fiduciary liability protection. 

Risk Engineering Services

While not an insurance product itself, The Hartford’s risk engineering services are a valuable complement to the company’s insurance offerings. The Hartford’s team of risk engineers provides consultations, training, and tools to help businesses identify and mitigate potential risks — ultimately helping to prevent losses and reduce insurance claims.

How to Get a Quote From The Hartford

Obtaining a personalized business insurance quote from The Hartford is simple. Visit The Hartford’s website, select “Business” on the top navigation bar, and then scroll down until you find the “Quote Today” button.. 

After clicking on that button, enter a ZIP code in order to provide your business’s location. Next, provide your business’s name along with your full name and phone number. Finally, describe what your business does and enter its street address, number of employees, years in operation, email address, and the types of insurance it needs.

You’ll then automatically receive a list of recommended policies for your business. You can choose to call The Hartford directly to obtain coverage or proceed with the company’s online quote option. 

The Hartford Alternatives

While The Hartford is a well-established insurance provider with comprehensive coverage options, several newer insurance companies offer different approaches to business insurance. Here’s how some major alternatives compare to The Hartford.

NEXT Insurance vs. The Hartford

NEXT Insurance offers a fully digital experience and typically lower premiums than The Hartford, making it particularly attractive to small businesses and startups. The company’s automated underwriting process allows for instant quotes and same-day coverage while The Hartford’s process often requires working with an agent.

However, NEXT Insurance lacks The Hartford’s extensive history and comprehensive coverage options for larger businesses. While NEXT Insurance excels in basic coverage for small businesses, The Hartford offers more sophisticated risk management services and specialized industry expertise that complex organizations often require.

Embroker vs. The Hartford

Embroker is a tech-forward alternative to traditional insurers like The Hartford, specializing in startup-friendly policies and digital-first operations. The company’s standout feature is a tech-driven platform that streamlines the insurance buying process and provides real-time policy management capabilities.

The Hartford offers broader industry coverage and more extensive risk management resources than Embroker. While Embroker excels in serving technology companies and startups with specific needs like D&O insurance, The Hartford provides more comprehensive coverage options across all industries.

Thimble vs. The Hartford

Thimble‘s main differentiator is its flexible, on-demand insurance options that business owners can purchase by the hour, day, or month — a stark contrast to The Hartford’s traditional annual policies. This makes Thimble particularly appealing to freelancers, gig workers, and businesses with temporary insurance needs.

The Hartford, however, offers greater stability and more comprehensive coverage options than Thimble. While Thimble’s flexibility is innovative, it doesn’t match The Hartford’s depth of coverage, claims handling expertise, or risk management services that established businesses typically require.

Tivly vs. The Hartford

Tivly operates differently from The Hartford as an insurance marketplace rather than a direct provider. The company connects businesses with multiple insurance carriers to compare quotes — potentially offering more competitive pricing options than going directly through The Hartford.

While Tivly provides the advantage of comparing multiple carriers at once, the company doesn’t offer The Hartford’s direct relationship with the insurer or integrated services. The Hartford’s in-house claims processing, risk engineering services, and dedicated support team provide a more cohesive insurance experience than Tivly’s marketplace approach.

Is The Hartford Right for Your Startup?

The Hartford has a long-standing reputation for serving businesses of all sizes, but its suitability for startups depends on several key factors. Understanding your startup’s specific needs and growth trajectory is crucial when considering The Hartford as your insurance provider.

It’s particularly well-suited for:

• Startups planning aggressive expansion that need insurance coverage to scale with their growth
• Companies in manufacturing, healthcare, or professional services seeking industry-specific expertise
• Businesses prioritizing a financially stable insurance partner with a proven track record

However, it may not be the best fit if:

• Your startup operates on minimal funding and needs the lowest possible premiums
• You require instant coverage through a fully digital process

The bottom line? The Hartford is an excellent choice for startups that prioritize comprehensive coverage, established expertise, and long-term stability over initial cost savings. The company’s extensive network, proven track record, and ability to scale coverage as your business grows makes The Hartford particularly valuable for startups with ambitious growth plans or those operating in traditional industries. 

If you’re a very early stage startup looking for the most affordable option or need immediate coverage with minimal paperwork, however, you might want to consider some of the newer, digital-first insurance providers. The decision ultimately will depend on balancing your immediate needs with your long-term business goals and risk management strategy.

Frequently Asked Questions