Finding the best business insurance is crucial if you own a business in California. The right coverage from a reputable company can be invaluable if you need to file a claim for issues like workplace accidents or stolen business property.
To assist you in securing the coverage, I’ve identified the six best business insurance companies in California. These selections are based on their product options, financial stability, and customer service.
stands out as the best general liability insurance company for employers in California, thanks to its affordable rates and solid financial standing. With policies averaging $28 per month, it’s the cheapest option in the state.
NEXT has an A- (Excellent) rating from AM Best, which, while strong, is slightly lower than some other insurers we evaluated. Although NEXT received good marks for its quote process, some users might need more than one-minute wait time for a quote.
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>> Get Your Business Insured With NEXT! >>
With over 200 years of operation, The Hartford is renowned for its financial stability and strength. It offers both personal and commercial insurance policies, including specialized options for industries like real estate.
The Hartford is the top choice for landlord insurance in California, providing comprehensive coverage for owners of apartment buildings or rental units. As California experiences a surge in population and demand for housing and rentals, landlord insurance has become increasingly important.
The Hartford’s landlord insurance policies offer protection for physical property, unattached structures like sheds or garages, personal property inside the home (such as appliances), and include medical payments and premises liability insurance.
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>> Get Your Business Insured With Hartford! >>
is the top general liability insurance provider for sole proprietors in California. It offers the second-cheapest rates in the state, with policies averaging $23 per month.
As part of the reputable Berkshire Hathaway Insurance Group, biBERK has earned the highest possible rating from AM Best, an A++ (Superior), demonstrating its financial strength to fulfill policyholders’ valid claims. biBERK excels in customer satisfaction, receiving fewer complaints than most insurers.
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>> Get Your Business Insured With biBERK! >>
offers all the essential coverages needed for a home-based business, with the added benefit of a 5% discount when purchasing two or more policies.
Their policies are tailored to your specific industry, and general liability premiums are lower for home-based business owners. Customers frequently praise the application process and customer service team on third-party review sites.
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>> Get Your Business Insured With Hiscox! >>
provides free quotes directly to your business inbox and offers a variety of insurance packages, including general liability insurance, workers’ compensation, and business owner’s policies. Their general liability insurance covers third-party injury and property damage claims.
For small businesses unsure about which insurance packages to choose, CoverWallet offers reliable and expert advice to help you make the best decision quickly.
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>> Get Your Business Insured With CoverWallet! >>
offers various insurance policies covering property, casualty, liability, and specialty lines, ensuring comprehensive protection against various risks. Their customizable solutions allow clients to create insurance plans tailored to their needs.
Chubb provides an easy-to-purchase package of insurance options suitable for business owners to buy online. Their business owner policy (BOP) combines general liability insurance with business property and business interruption insurance.
It includes extra expense coverage and accounts receivable coverage, features not always included in standard BOPs.
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>> Get Your Business Insured With Chubb! >>
Whether you run a small donut shop or a digital ad agency in California, having the right small business insurance is essential. Your coverage choices should reflect the size and industry of your business. Here are some common types of small business insurance:
General liability insurance protects a business from accidental injuries and property damage caused to others. It also covers claims of copyright infringement, libel, and slander. This insurance pays for your legal costs, including attorney fees, settlements, and judgments.
Professional liability insurance, also known as errors and omissions insurance, covers your small business if someone accuses you of making mistakes in your professional services, even if the claim is unfounded. For example, if a client alleges your tax preparation services caused them financial harm, this insurance covers your legal costs.
Workers’ compensation insurance in California covers your employees’ medical bills, lost wages, and other expenses if they are injured or become ill due to work-related tasks. The requirements for workers’ comp in California are as follows:
>> NEXT: Affordable Business Protection >>
You’ll likely need additional types of business insurance to cover specific risks in California. For example, you’ll want to protect business property such as buildings, signs, inventory, and office equipment.
A BOP bundles general liability insurance with business interruption insurance and commercial property insurance. It’s typically cheaper to buy a BOP than to purchase each coverage type separately. Here’s what they cover:
You can build on a BOP by adding extra coverage as needed. Here are other types of California business insurance to consider:
>> Get Your Business Insured With NEXT! >>
The average cost of general liability insurance in California is $45 per month, according to Insureon. Professional liability insurance averages $61 per month, and workers’ compensation insurance averages $46 per month.
The exact amount you’ll pay for small business insurance depends on several factors, including:
Here are a few tips to simplify buying business insurance:
When deciding on the coverage you need and which provider to choose, consider the following risks:
>> Ensure Your Business Future With NEXT >>
The cost of your premiums depends on your coverage, policy limits, industry, and company size. General liability policies in California range from $45 to $400 per month.
In California, all businesses with employees must have workers’ compensation insurance. If your business uses vehicles, you’ll need commercial auto coverage.
All vehicles in California must meet minimum liability requirements:
Taxis require higher coverage, with $125,000 per person for bodily injury insurance (up to $250,000 per accident) and $50,000 in property damage protection.
>> Get Your Business Insured With NEXT! >>
Selecting the right business insurance in California protects your operations against unforeseen risks and liabilities. Whether it’s coverage for property damage, liability issues, or employee-related risks, the variety of options available can cater to any business’s specific needs, from startups to established enterprises.
Key providers like NEXT, biBERK, and The Hartford offer comprehensive packages combining affordability and extensive coverage. The best insurance policy provides a safety net tailored to your business’s unique challenges and requirements.
>> NEXT Solutions for Comprehensive Coverage >>
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