Hiscox vs Next Insurance vs Simply Business: Best Small Business Insurance
One lawsuit can end a business that took years to build. But overpaying for the wrong policy wastes money you need for growth. This breakdown cuts through the marketing copy so you know exactly which insurer fits your situation.
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The quick answer
Next Insurance is the fastest option for straightforward trades and service businesses — you can get a certificate of insurance in under 10 minutes. Hiscox wins for professional services, consultants, and anyone who needs errors and omissions (E&O) coverage bundled cleanly. Simply Business is a comparison marketplace, not a direct insurer — use it when you want to see multiple quotes side by side before committing.
Side-by-side breakdown
Next Insurance: online-only, instant quotes, GL starts around $25/month for low-risk trades, no phone sales required, certificate of insurance downloadable immediately. Best for: contractors, cleaners, photographers, personal trainers.
Hiscox: specialist small business insurer, strong E&O and professional liability products, monthly payment options, coverage in 180+ professions, slightly slower quote process. Best for: consultants, designers, accountants, IT professionals.
Simply Business: broker marketplace, not a direct insurer, gets you quotes from multiple carriers including Markel, Travelers, and others, useful for comparing apples to apples. Best for: anyone not sure which carrier to choose or any business that needs commercial auto alongside GL.
When to choose Next Insurance
Choose Next when you need coverage fast, you work in a hands-on trade or service business, and you want to manage everything online without talking to an agent. Next is also strong if you need to add additional insureds frequently — clients who require proof of coverage before you can work for them. The app makes that painless.
When to choose Hiscox
Choose Hiscox when your work involves advice, professional judgment, or deliverables that could be disputed. A general liability policy does not cover you if a client claims your consulting advice cost them money — that is E&O territory. Hiscox bundles GL and professional liability cleanly, which most online-only competitors do not.
When to use Simply Business
Use Simply Business when you are not sure what you need, when your situation is complex (multiple coverage types, commercial property, commercial auto), or when you want a broker relationship rather than a direct insurer. Simply Business compares carriers so you are not locked into one company's pricing.
The verdict
Service businesses and trades: start with Next. Consultants and professional services: start with Hiscox. Undecided or complex needs: run Simply Business first to see the market. Do not skip this step — operating without liability coverage is the single fastest way to lose everything you have built.
How to get started
1. Identify your primary coverage need: general liability, professional liability, or both. 2. Get a quote from your leading candidate (Next or Hiscox). 3. If the quote feels high or the coverage feels thin, run Simply Business to compare. 4. Purchase before you serve your first paying customer. 5. Download your certificate of insurance and save it somewhere you can find it in 30 seconds.
RECOMMENDED TOOLS
Next Insurance
Instant online quotes — coverage in minutes
Hiscox
Best for professional services and E&O coverage
Simply Business
Compare multiple carriers side by side
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FREQUENTLY ASKED QUESTIONS
Do I need business insurance if I am an LLC?
Yes. An LLC protects your personal assets from business debts, but it does not protect you from liability claims arising from your work. If a client sues you, the LLC limits personal exposure but the business itself still needs insurance to cover legal costs and settlements.
What is the difference between general liability and professional liability?
General liability covers bodily injury and property damage — someone trips and falls at your event, for example. Professional liability (E&O) covers claims that your work, advice, or service caused financial harm to a client. Most service businesses need both.
How much does small business insurance cost?
General liability for a low-risk service business typically starts at $25-50/month. Professional liability adds $30-80/month depending on your profession and revenue. Bundled policies (BOP) can be more cost-effective for businesses with physical locations.
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