That’s why we put together our guide to the top small business insurers in seven different categories to help your business find the right insurance company.
Nationwide topped our list as the insurer best-known for well-rounded insurance offerings. But is this the best insurer for your small business?
With Nationwide, small business customers have access to a wide variety of policies, including these popular coverages:
Nationwide is Incorporation Guru’s top overall pick for the company with the best well-rounded coverage packages among small business insurance providers. Let’s dig into the details to find out why and determine if this is the right company to provide your small business insurance policies.
Nationwide first opened its doors back in 1926. It started off as a farm bureau auto insurer but quickly expanded its operations to include a wide variety of personal and business insurance policies. With more than 25,000 employees, Nationwide is the #76 company on the Fortune 500.
We love how Nationwide includes equipment breakdown insurance with its businessowners policy (BOP). This is one of the only insurance companies that bundles equipment breakdown coverage into a BOP, as most competitors only include general liability, business interruption, and commercial property insurance (and some, like State Farm, exclude business interruption coverage).
This makes Nationwide’s BOP a more fully featured and well-rounded offering than most competitors’ BOPs, as it truly includes every coverage most small businesses will need. Nationwide also offers some specialized forms of small business insurance that not all competitors provide, so give this insurer a long look if you need crime, employment practices liability, inland marine, builder’s risk, or accounts receivable insurance.
In addition, most insurance providers aren’t exactly known for positive online customer reviews. After all, these companies have so many customers in so many unique situations that there is bound to be plenty of negative feedback. That said, Nationwide gets pretty good reviews on reputable third-party review aggregator sites like WalletHub, where it has a solid 3.8 customer rating — a higher score than most major insurers receive.
One drawback of Nationwide is that its prices can tend to be slightly on the high side compared to the average insurer. That said, Nationwide offers more features and well-rounded coverages than many competitors too. So, to us, this seems like a case of getting what you pay for.
Still, if affordability is your top priority, we would understand why you might prefer one of Nationwide’s competitors in the small business insurance industry.
Nationwide is our top pick for small business insurance customers seeking a company with well-rounded and fully featured insurance policies. The fact that it receives mostly positive customer reviews doesn’t hurt either!
With a broad selection of business insurance policies and a ton of experience, we wouldn’t hesitate to recommend Nationwide to our family and friends.
Still, if you want to take a look at our recommended insurers for other categories — such as the best options for industry-specific policies, fast claims payment, and more — take a look at our complete guide to the best small business insurance providers.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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