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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.
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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
| Company | Best For | Next StepsBest For |
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Next Business Insurance
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The Hartford Small Business Insurance
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Thimble
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Hiscox Business Insurance
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Read more below to learn why we chose these options.
Table of Contents
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.
Pricing
Starting at $19/monthTypes Of Insurance Offered
8+ policy typesTime To Receive A Quote
Instant online quotesPros
Cons
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.
Get Started With Next Business Insurance
Pricing
Varies. Average general liability is $810/yearTypes of insurance offered
30+ policy typesTime to receive quote
Usually same-dayPros
Cons
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.
Get Started With The Hartford Small Business Insurance
Pricing
Starting at $17/monthTypes Of Insurance Offered
Basic business coverage + some specialized policiesTime To Receive A Quote
Instant QuotesPros
Cons
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.
Hiscox Business Insurance |
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Pros
Cons
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.
Get Started With Hiscox Business Insurance
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.
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.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
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