Best Commercial Renters Insurance Providers
Small businesses operating in rental units may need commercial renters insurance to protect the property from damage and loss. Check out our top four picks.
Commercial renters insurance protects your business assets against certain types of damage and loss. If you operate a small business out of any type of rented space, you might be required to have renters insurance as a condition of your lease or rental agreement. When it comes to property damage, the owner of the building is responsible for properly securing insurance.
Still, if your property inside the building is damaged by fire, vandalism, or theft, you need commercial renters insurance to protect your business’s physical assets.
Here are our top four choices for commercial renters insurance and why we think you should consider them in your research.
Learn More About Our Top Picks
Read more below to learn why we chose these options.
Table of Contents
- The Best Commercial Renters Insurance For Small Business
- The Hartford Small Business Insurance: Best Features & Options
- The Hartford Small Business Insurance
- The Hartford Pricing
- The Hartford Features
- Next Business Insurance: Best Pricing
- Next Business Insurance
- Next Pricing
- Next Features
- Thimble: Best For Changing Coverage
- Thimble Pricing
- Thimble Features
- Hiscox Business Insurance: Best For Multiple Locations
- Hiscox Pricing
- Hiscox Features
- Business Insurance Review Methodology
- What To Look For In Commercial Renters Insurance
The Best Commercial Renters Insurance For Small Business
We’ve ranked and rated all of the top small business insurance providers based on pricing, features, customer service, and the claims process. We hope it makes your decision a little easier as you narrow down your list.
- The Hartford Small Business Insurance: Best Features & Options
- Next Business Insurance: Best Pricing
- Thimble: Best For Changing Coverage
- Hiscox Business Insurance: Best For Multiple Locations
The Hartford Small Business Insurance: Best Features & Options
Pricing
Varied. Average general liability is $88/monthTypes of insurance offered
30+ policy typesTime to receive quote
Usually same-dayPros
- Fast, free quotes
- 24/7 online claims service
- Many coverage options
Cons
- Not available in Alaska or Hawaii
Why We Chose The Hartford For Best Features For Small Business Owners
The Hartford is one of the biggest insurance companies in the country, available in 48 states. It's ranked Number One in customer satisfaction in the J.D. Power 2022 study, and Ethisphere named it a "World’s Most Ethical Company" 15 times. If you've had a bad experience with an insurance provider in the past, The Hartford is determined to ensure happy clients.
With a strong reputation and a variety of policies aimed at small businesses, we think Hartford definitely deserves its spot on this list.
Where The Hartford really shines for us is in its features and options. It offers a variety of business insurance choices and several unique tools to help clients, such as risk engineering and banking features.
Choose The Hartford If:
- You want an innovative but established insurance provider
- You want a company with a strong commitment to customer service
Get Started With The Hartford Small Business Insurance
Next Business Insurance: Best Pricing
Pricing
Starting at $11/monthTypes Of Insurance Offered
8+ policy typesTime To Receive A Quote
Instant online quotesPros
- Discounts on multiple policies
- Strong mobile app
- Instant quotes
Cons
- Limited specialty coverage options
Why We Chose Next For Best Pricing For Small Business Owners
We love Next for its instant quotes and easy application process.
And Next pricing is some of the best available, with commercial property insurance that can start as low as $17/month, which is why we think you should consider Next if you're a smaller business or a business on a budget. You can still get great policy coverage at this price. For us, it's the fast quotes and inexpensive options that make this the best option.
Choose Next If:
- You need quick, basic coverage
- You want an affordable option versus having more features
Get Started With Next Business Insurance
Thimble: Best For Changing Coverage
Thimble |
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Pros
- Adjustable coverage
- Event planners accommodated
- Instant quotes & coverage
- Strong mobile app
Cons
- No phone support
- Limited additional policies
Why We Chose Thimble For Changing Coverage
Some small businesses have changing insurance needs over the course of a typical year. Maybe your business is cyclical or seasonal, or perhaps you just experience sharp ups and downs in your inventory.
Thimble can be a great choice for those types of businesses because it lets you adjust your coverage periodically without fees or penalties. This is great for people who employ contractors or temporary employees, and it's a great fit for gig-economy workers who might only need coverage on occasion.
Thimble is best suited for small businesses -- and even excludes businesses with over 50 employees.
Choose Thimble If:
- You want to easily change/modify your coverage
- Same-day insurance available
Hiscox Business Insurance: Best For Multiple Locations
Hiscox Business Insurance |
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Pros
- Fast quotes
- Apply online
- Available in 49 states
Cons
- Limited policy range
- May not be suitable for large businesses
Why We Chose Hiscox For Coverage Of Multiple Locations
Hiscox commercial property coverage protects your business equipment, whether you're in the office or on a job site. That includes computers and audio-visual equipment, trade show booth items, and more. With a Hiscox policy, your business property is covered no matter where you're at.
Choose Hiscox If:
- You want or need a fast application process
- You have multiple locations to cover
Get Started With Hiscox Business Insurance
Business Insurance Review Methodology
Merchant Maverick has been researching and reviewing business insurance since 2020. Our writers have tested over twenty different major insurance companies. In each review, we evaluate pricing, features, customer service, and user reviews.
Read more about how we rate business insurance providers.
When comparing different business insurance companies, we consider many data points, including relative pricing, the number of standard insurance policies available, and the ability to create custom policies. Our lists of the best business insurance providers include only those we’ve deemed worthwhile from multiple vantage points and often share qualities such as low cost, a variety of niche business insurance policies, multiple ways to file claims, and excellent customer support.
We spend an average of 10-15 hours researching and updating each one of our lists, ensuring that the business insurance companies included meet our internal standards for quality and reputation.
What To Look For In Commercial Renters Insurance
Commercial renters insurance is a type of policy aimed at business owners who rent the space where their business operates. If you’re renting your workspace, warehouse, or storefront, the building you work in will be covered by the building owner’s insurance coverage.
Your business assets, however, including equipment and any products you make and sell, are not covered under the building owner’s insurance policy.
In other words, if the building and your property inside are damaged by fire, vandalism, or theft, you need commercial renters insurance to protect your business’s physical assets.