NEXT Insurance Review 2023

Pros

• Instant online quotes
• Instant coverage
• Discounts for multiple policy bundles
• Strong mobile app
• Live customer support

Cons

• Not suitable for large or complex businesses
• Some specialty coverage lacking

What Is NEXT Insurance?

NEXT Insurance is an independent insurance company catering to small businesses and offering a policy lineup that includes the basic types of business insurance and then some.

Aimed at smaller business owners, NEXT Insurance makes it easy to apply for and activate the basic business insurance coverage you need. You can apply online and be covered within minutes. NEXT’s mobile app lets you print out a certificate of insurance (COI) almost instantly, taking “get business insurance” off your crowded to-do list.

This independent NEXT Insurance review takes a deep dive into NEXT pricing, features, reviews, and more to help you decide if NEXT can deliver the insurance coverage your business needs.

NEXT Insurance Pricing

NEXT pricing is delivered by personal quote only. That’s common for business insurers. What’s less common is the speed with which NEXT allows businesses to receive a quote online and activate coverage almost instantly.

Even better, you can download a certificate of insurance (COI) immediately after you activate your coverage. So, if you’ve been putting off the process of buying business insurance because it seems too complicated, expensive, or time-consuming, those excuses aren’t valid with NEXT.

NEXT notes that about half of its customers pay less than $25/month for general liability insurance. You can use NEXT’s insurance price calculator to get a feel for what you might expect to pay for general liability, professional liability, workers’ compensation, or property insurance.

As an example, I learned that my Oregon-based bookstore could expect to obtain general liability coverage starting at $25/month. Note that this tool gives you an estimate only; you’ll have to enter some more specific information to get a personal price quote from NEXT.

How To Get A NEXT Insurance Quote

From the NEXT website, click the blue “Get Instant Quote” link. You’ll be prompted to enter some very basic information about your business: business type, location, number of employees, and so on. You’ll receive a recommendation about the types of coverage your business needs.

Screenshot of NEXT Insurance webpage, captured 7/14/2023

I spent a few minutes on the NEXT quote process and received a recommendation to apply for a NEXT business owner’s policy (BOP), with an estimated time investment of four minutes. To receive my quote, I needed only to enter my contact information and my business name and address.

Once you receive your insurance price quote via email, you’ll be able to set up monthly payments online or with the help of a US-based rep via phone. If you download NEXT’s mobile app for iOS or Android, you can receive proof of coverage within seconds.

NEXT Business Insurance Features

NEXT is a no-frills insurance company. Although you won’t find bells and whistles, you will find the basics you need. Here’s a rundown:

Instant Coverage

NEXT conducted a 2023 survey of small business owners and found that almost 30% don’t carry any business coverage at all. And more than half of small business owners said their biggest barrier was knowing what kind of insurance package their business needs.

We think one of NEXT’s strengths is its easy application process and instant coverage. Its relatively low price point is another strong feature. If you’re among the significant percentage of small business owners who haven’t gotten coverage because you’re not sure what you need, we think you’ll appreciate how easy NEXT makes buying and implementing business insurance.

NEXT Insurance Mobile App

You can use the NEXT app to manage your business insurance wherever you are. Create and share your certificate of insurance (COI), pay your bills, receive notifications on claims and payments, edit billing information, update coverage, and more. Data is not shared with third parties.

The apps are well reviewed by users, with a higher satisfaction level among Android users (4.2/5) than Apple (3.6/5).

Live Customer Support

NEXT offers live customer support during normal business hours (Central time). You can use the live chat option on the NEXT website or phone in. You don’t have to be a customer to use these support options.

Bundle Discounts

Purchase two or more business insurance policies from NEXT and you’ll automatically receive a 10% discount.

You can choose to pay annually or monthly for your NEXT insurance coverage.

NEXT Insurance Range Of Services

NEXT starts with a solid foundation of business insurance basics and adds a few specialty policies. Depending on how you answer the basic questions NEXT asks about your business during the online quote process, you will receive a personalized recommendation of any combination of NEXT’s business insurance policies.

Here is an overview of the seven types of coverage you can purchase from NEXT:

General Liability

NEXT’s general liability insurance offers financial protections for common workplace accidents. Coverage includes bodily injury, repair and replacement costs, reputational harm (libel and slander), false advertising (advertising injury), and copyright infringement.

General liability coverage from NEXT starts at just $11/month. The price you pay will depend on factors such as your industry, business size, location, and your specific coverage needs.

Professional Liability

Also known as errors and omissions coverage (E&O), professional liability insurance is considered essential for professional service providers such as accountants, tax professionals, real estate agents, and consultants. However, it’s something every business owner should consider.

Remember, you could face a lawsuit after a customer suffers losses, even if you’ve done nothing wrong. Professional liability can help you pay for defense costs whether or not you’re ultimately found to be at fault. NEXT’s professional liability coverage starts as low as $18.34/month.

Commercial Property

Commercial property insurance can be customized for your business needs. NEXT’s policies can be written to protect your inventory, business equipment, furniture, and physical structures.

Your NEXT commercial property coverage can provide coverage from the following types of damages: water, fire, wind, vandalism, and more.

NEXT has landed a spot not just on our best commercial property insurance list but also on our best commercial property insurance for renters.

Business owners Policy

NEXT’s business owner’s policy (BOP) combines general liability and commercial property coverage into a single policy. This is the most common combination for BOP coverage.

Your BOP coverage will be tailored to your unique business needs, with dozen of industry-specific packages to choose from as a base. For example, NEXT says if you own a restaurant, your BOP could include a spoilage endorsement that covers losses resulting in a power failure to your walk-in refrigerator.

NEXT’s BOPs include coverage for your goods, gear, inventory, and physical building as well as general liability coverage protections. Bundling general liability and commercial property into a NEXT BOP instantly saves you 10% on your premiums.

Workers’ Compensation

Workers’ compensation insurance is one of the few types of business insurance that may be required by law in all US states except Texas. If you have hired an employee or plan to, you’ll need to obtain workers’ comp coverage.

NEXT’s workers’ compensation coverage starts at $12.20/month. Your cost may be higher depending on your industry and the number of employees. NEXT says that half of its customers pay between $25 and $150/month for this type of coverage.

Commercial Auto

Just like personal automobile insurance, commercial auto provides protection from uninsured motorists and collision and comprehensive coverage. Your personalized NEXT policy can include coverage for injuries, property damage, towing and labor, and rental reimbursement, too.

Like personal auto coverage, commercial auto coverage is required by law. If your business owns and operates vehicles, you need commercial auto coverage.

NEXT’s commercial auto policies start around $62/month.

Tools & Equipment

Protect your business gear with an add-on to your general liability policy from NEXT. Aimed especially at contractors and cleaning businesses, you can get coverage for tools and equipment that are essential to running your business. If your gear is stolen, lost, or damaged, you can get help repairing or replacing items. This coverage is good at all times, including items left in your vehicle, stored in a trailer, or used on a job site.

Normal wear and tear are not covered, and rental items are not covered either. Basic coverage starts at $12.50/month with pro and pro plus policies starting at $24.20 and $45/month, respectively.

Industry Coverage

NEXT offers coverage to all types and sizes of businesses. You will find specialized packages aimed at businesses in the following categories:

• Amazon sellers
• Architects and engineers
• Auto services
• Beauty
• Cleaning
• Construction
• Consulting
• Contractors
• Daycare
• Debris removal
• Education
• Entertainment
• Fitness
• Financial Services
• Food and beverage
• HVAC
• Insurance professionals
• Legal services
• Painters
• Personal trainers
• Pet care
• Real estate
• Retail
• Therapy
• Yoga instructors

Specific Size Of Business

NEXT Insurance is suitable for small to mid-size businesses and self-employed workers, too. You can use NEXT if your business is a sole proprietorship, an LLC, or a home-based business.

Larger organizations may find that NEXT does not have the specialized coverage options they need, however.

NEXT Insurance Claims

Insurance is a business expense that can seem unnecessary at times. When you need to file a claim, you find out how valuable insurance can be. The best insurance companies make it easy to get the assistance you’ve paid for.

How does NEXT’s claim process work? Let’s find out.

How To File A Claim With NEXT Insurance

NEXT makes it easy to file a claim. You can visit NEXT’s website or use the app to start the claims process. Simply log in and explain what happened, and you’ll be assigned a claims advocate to work with you through the process.

Customer Satisfaction With NEXT Insurance Claims

NEXT is rated A- (Excellent) by AM Best for its financial strength. That rating means that NEXT is financially stable and should be able to pay out claims as needed.

We did spot some complaints online regarding NEXT claims. However, almost all the complaints were from third parties such as clients of NEXT Insurance customers seeking repayment for damages and not related directly to NEXT customer payouts on claims.

Customer Service & Support

NEXT stands out from competitors by offering live customer support from US-based representatives. You can reach a NEXT rep Monday-Friday from 8 AM-5 PM central time.

NEXT is active on Facebook, YouTube, LinkedIn, and Twitter. You’ll also find helpful FAQs on the NEXT website. NEXT’s mobile app for iOS and Android offers an additional contact channel.

NEXT Business Insurance Reviews

NEXT is accredited by the Better Business Bureau and has a B+ rating from the BBB. There have been 61 BBB complaints filed against NEXT over the past three years. Customer reviews on the BBB website rate NEXT 3.5/5 stars.

Here’s a sampling of the types of rants and raves we found about NEXT on the BBB and other review sites.

Negative Reviews & Complaints About NEXT Insurance

We found complaints from NEXT customers related to the following areas:

• Some service stumbles
• Unexpected policy cancellations
• Sudden premium increases

Positive Reviews & Testimonials For NEXT Insurance

NEXT customers say they like the following features:

• Strong mobile app
• Competitive rates
• Quick price quotes
• Easy online application process
• Responsive reps

Final Verdict Of NEXT Small Business Insurance

Small businesses that are overwhelmed by the process of getting business insurance may find a lot to like about NEXT. This online insurance provider offers quick coverage at reasonable prices that will suit many small and mid-size businesses.

Best of all, you can get a free price quote from NEXT after a simple online request process. If you like the quote for the coverage you need, you can be insured by NEXT within minutes.

Of course, if your business is large and complex, NEXT may not offer the complete coverage you need. In that case, you may find a better match with another of our top recommended business insurance providers. Check out our list of the best business insurance companies and ask for a quote today.

NEXT Insurance FAQs

The Merchant Maverick Seal of Approval 🏆

Next Business Insurance	Visit Site

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Next Business Insurance for yourself.

The Merchant Maverick Seal of Approval 🏆

Next Business Insurance	Visit Site

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Next Business Insurance for yourself.