Best Business Insurance for Insurance Agents in 2025 (Top 10 Companies)

We also highlight the significance of cyber insurance in today’s digital landscape, along with the various options available for protecting against unforeseen cyber risks. Additionally, we provide real-life case studies that illustrate the positive impact of having comprehensive insurance coverage for insurance agents.

Our Top 10 Company Picks: Best Business Insurance for Insurance Agents

Company	Rank	Multi-Policy Discount	Low-Mileage Discount	Best For	Jump to Pros/Cons
	#1	15%	10%	Accident Forgiveness	Travelers
	#2	10%	10%	Policy Options	Chubb
	#3	30%	30%	Customizable Polices	Liberty Mutual
	#4	17%	10%	Many Discounts	State Farm
	#5	5%	5%	Deductible Reduction	The Hartford
	#6	25%	25%	Add-on Coverages	Allstate
	#7	10%	10%	Military Savings	USAA
	#8	10%	31%	Online Convenience	Progressive
	#9	10%	10%	Customizable Policies	Hiscox
	#10	20%	20%	Usage Discount	Nationwide

Don’t miss out on the opportunity to safeguard your business and financial future. Compare rates from the best commercial insurance providers today and ensure you have the right protection in place.

Our free quote tool above makes it easy to compare affordable coverage options for your business — simply enter your ZIP code to find the best commercial insurance company for you.

#1 – Travelers: Top Overall Pick

Pros

• Accident Forgiveness: Travelers offers accident forgiveness, helping to keep premiums stable in case of an accident.
• Generous Multi-Policy Discount: Provides up to 15% off for bundling multiple policies.
• Substantial Low-Mileage Discount: Offers a 10% discount for low-mileage users. Discover insights in our Travelers insurance review & ratings.

Cons

• Higher Base Rates: Base rates may be higher, potentially offsetting the discounts.
• Limited Policy Options: Fewer customizable options compared to competitors.

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#2 – Chubb: Best for Policy Options

Pros

• Broad Policy Options: Chubb excels with a wide range of customizable policy options.
• Moderate Multi-Policy Discount: Offers a 10% discount on bundling policies. Unlock details in our Chubb insurance review & ratings.
• Consistent Low-Mileage Discount: Also provides a 10% discount for low-mileage usage.

Cons

• Premium Pricing: Generally, Chubb has higher pricing reflecting its premium offerings.
• Complex Policies: Policies can be complex, which might confuse new insurance buyers.

#3 – Liberty Mutual: Best for Customizable Polices

Pros

• Highly Customizable Policies: Liberty Mutual is known for its highly customizable policies.
• Maximum Discounts: Offers substantial discounts up to 30% for multi-policy and low-mileage.
• Diverse Offerings: Provides a range of options to meet various business insurance needs. Delve into our evaluation of Liberty Mutual insurance review & ratings.

Cons

• Premium Cost: Despite discounts, premiums can be high for extensive customizations.
• Complexity in Choices: The vast array of options may overwhelm some customers.

#4 – State Farm: Best for Many Discounts

Pros

• Bundling Policies: State Farm offers significant discounts for bundling multiple insurance policies.
• High Low-Mileage Discount: Provides a substantial discount for low-mileage usage. Access comprehensive insights in our State Farm insurance review & ratings.
• Wide Coverage: Offers various coverage options tailored for different business needs.

Cons

• Limited Multi-Policy Discount: The multi-policy discount of State Farm is not as high compared to some competitors.
• Premium Costs: Despite discounts, State Farm’s premiums might still be relatively higher for certain coverage levels.

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#5 – The Hartford: Best for Deductible Reduction

Pros

• Deductible Reduction: Offers a 5% reduction on deductibles, which can add up over time.
• Stable Coverage: Known for stable, reliable coverage across various business types.
• Policy Consistency: Maintains consistent terms across different policies. Discover more about offerings in our The Hartford insurance review & ratings.

Cons

• Lower Discounts: Offers less competitive discounts, with just 5% for multi-policy and low-mileage.
• Narrow Focus: May not offer as broad a range of policies as larger insurers.

#6 – Allstate: Best for Add-on Coverages

Pros

• Add-on Coverages: Allstate excels in offering additional coverage options that can be tailored.
• Generous Discounts: Provides up to 25% discount for both multi-policy and low-mileage.
• Flexible Policies: Flexible policy structures to suit diverse business needs. Check out insurance savings in our complete Allstate insurance review & ratings.

Cons

• Higher Costs: Additional coverages can significantly increase overall costs.
• Complex Policy Structure: The options for add-ons can make policy selection and management complex.

#7 – USAA: Best for Military Savings

Pros

• Specialized Military Discounts: Offers discounts and services tailored to military personnel and their families.
• Loyal Customer Base: High customer loyalty due to focused service and comprehensive coverage.
• Competitive Discounts: Provides a 10% discount on both multi-policy and low-mileage. Read up on USAA insurance review & ratings for more information.

Cons

• Limited Eligibility: Services are limited to military members, veterans, and their families.
• Fewer Physical Locations: Limited physical offices can affect accessibility for some customers.

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#8 – Progressive: Best for Online Convenience

Pros

• High Low-Mileage Discount: Offers the highest low-mileage discount at 31%.
• Online Management: Progressive is known for its user-friendly online services. More information is available about this provider in our Progressive insurance review & ratings.
• Flexible Policies: Offers flexible policies that can be managed and adjusted online.

Cons

• Inconsistent Agent Experience: Online focus can lead to variability in agent support.
• Limited Personal Interaction: Reduced personal interaction may not suit all clients.

#9 – Hiscox: Best for Customizable Policies

Pros

• Customizable Policies: Hiscox offers highly customizable policies, particularly suited to small businesses.
• Consistent Discounts: Offers a consistent 10% discount for both multi-policy and low-mileage.
• Specialized Coverage: Provides specialized coverage that caters to niche markets. See more details in our Insurance quotes online.

Cons

• Higher Pricing: Can be more expensive due to specialized nature.
• Limited Large Business Options: May not be as well-suited for larger corporations.

#10 – Nationwide: Best for Usage Discount

Pros

• Usage-Based Discounts: Nationwide offers a significant 20% discount for usage-based savings.
• Extensive Network: Has a wide network, ensuring accessibility across many regions. See more details in our Nationwide insurance review & ratings.
• Flexible Policy Options: Offers a variety of policy options to suit different business needs.

Cons

• Variable Customer Service: Customer service quality can vary depending on the region.
• Complexity in Policies: The wide range of options can sometimes lead to complexity in policy management.

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Comparative Monthly Premiums for Insurance Agents

When selecting business insurance, understanding the cost for varying levels of coverage is essential for insurance agents. This breakdown offers insights into monthly rates for both minimum and full coverage across leading insurance companies.

Business Insurance Monthly Rates for Insurance Agents by Coverage Level

Allstate provides insurance starting at $100 for minimum coverage and goes up to $300 for full coverage. Chubb’s rates begin at $150 for minimum coverage, escalating to $400 for comprehensive protection. Hiscox and Liberty Mutual offer competitive rates of $120 and $110 for minimum coverage, respectively, rising to $350 and $320 for full coverage.

Nationwide and Progressive present more affordable options, with Nationwide’s rates starting at $105 and Progressive at $95, both increasing to $310 and $280 for full coverage. State Farm offers minimum coverage at $115, with full coverage at $330.

The Hartford and Travelers are slightly higher, with minimum coverages at $125 and $130 and full coverages at $360 and $370, respectively. USAA matches Progressive’s lower end at $95 for minimum coverage but increases to $300 for full coverage, highlighting a balance between affordability and comprehensive coverage (For more information, read our “What is comprehensive coverage?”).

An In-Depth Exploration of Business Insurance Types for Insurance Agents

As insurance agents, it is essential to have comprehensive insurance coverage to protect your own business operations and address potential risks. Here are some key types of business insurance that insurance agents should consider:

• Errors and Omissions Insurance: Also known as Professional Liability Insurance, this policy provides coverage for claims related to professional negligence, errors, or omissions that may result in financial losses for your clients.
• General Liability Insurance: This coverage is especially important if you have a physical office or meet clients in person, as it protects you from potential lawsuits or claims arising from accidents or injuries that occur on your premises or during business activities.
• Cyber Liability Insurance: It safeguards your business against data breaches, cyberattacks, and other cyber risks. It provides coverage for expenses such as data breach notification costs, forensic investigations, legal fees, and potential liability arising from the breach.
• Commercial Property Insurance: This coverage protects your office space, furniture, equipment, and any other physical assets from perils like fire, theft, vandalism, or natural disasters. It ensures that you can recover and continue your business operations in the event of property damage or loss.
• Business Interruption Insurance: It helps cover lost income and ongoing expenses if your business experiences a covered event that forces you to temporarily suspend operations. It provides financial support during the period of recovery and allows you to maintain stability until you can resume normal business activities.
• Workers’ Compensation Insurance: It is often required by law and provides coverage for medical expenses, lost wages, and rehabilitation costs if an employee suffers a work-related injury or illness. This coverage not only protects your employees but also shields your business from potential lawsuits related to workplace injuries.
• Employment Practices Liability Insurance (EPLI): It protects insurance agents against claims made by employees for wrongful employment practices. It covers legal fees, settlements, and judgments, helping you mitigate the financial risks associated with employment-related lawsuits.
• Directors and Officers Insurance (D&O): It provides coverage for claims against directors and officers for alleged wrongful acts, such as mismanagement, errors in judgment, or breaches of fiduciary duty. This coverage protects the personal assets of directors and officers and helps attract and retain qualified individuals in these positions.
• Commercial Auto Insurance: It provides liability coverage for accidents involving these vehicles, protecting your business from potential lawsuits or claims arising from bodily injury or property damage caused by company-owned or employee-operated vehicles (For more information, read our “Commercial Auto Insurance: A Complete Guide”).

Having a comprehensive insurance portfolio tailored to the specific risks faced by insurance agents is vital for protecting your business, reputation, and financial well-being.

Consulting with an insurance professional can help you assess your needs and find the right combination of coverage options to ensure you have adequate protection.

Optimal Insurance Coverage Strategies for Insurance Agents

Finding the right insurance coverage for businesses can be a complex task, especially considering the unique risks and requirements of each business. As an insurance agent, your expertise and guidance play a crucial role in helping your clients navigate the business insurance landscape and make informed decisions.

Here are some recommendations to assist you in assisting your clients in finding the right insurance coverage:

• Conduct a comprehensive risk assessment. Start by thoroughly evaluating your client’s business operations, identifying potential risks, and understanding their specific needs.
• Understand local regulations. Familiarize yourself with the insurance requirements and regulations specific to the geographic location where your client’s business operates.
• Provide tailored solutions. Every business is different, and a one-size-fits-all approach to insurance coverage may not be suitable. Offer customized solutions that address your client’s specific needs and risks.
• Partner with reputable insurance carriers. Work with reputable insurance carriers that specialize in providing coverage for small businesses. Partnering with reliable carriers ensures that your clients receive quality coverage and responsive claims handling.
• Stay updated with industry trends. The insurance landscape is constantly evolving, with new risks emerging and innovative coverage options becoming available. Stay informed about industry trends, emerging risks, and advancements in insurance products.
• Provide clear explanations and educate your clients. Take the time to explain policy terms, coverage details, and exclusions in a clear and understandable manner. Educate your clients on the importance of each type of coverage and how it addresses their specific risks.
• Review coverage regularly. Encourage your clients to review their insurance coverage regularly, especially when significant changes occur in their business. This could include changes in operations, expansion into new markets, acquisition of assets, or updates to local regulations.

By following these recommendations, you can establish yourself as a trusted insurance advisor and help your clients find the right insurance coverage that protects their businesses effectively.

Providing personalized guidance and being responsive to your client’s needs will go a long way in building lasting relationships based on trust and reliability.

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Case Studies: The Power of Business Insurance for Insurance Agents

Insurance is a crucial safeguard in the unpredictable world of business, providing vital protection against various risks. These case studies illustrate the significant benefits that business insurance offers to insurance agencies, highlighting how different types of policies can shield businesses from potential financial disasters.

• Case Study #1 – General Liability Insurance (GLI): An insurance agency located in a bustling downtown area had recently moved into a newly renovated office space. During an open house event, a visitor tripped on a loose carpet and suffered a serious injury. The injured party filed a lawsuit against the insurance agency, claiming negligence in maintaining a safe environment.
• Case Study #2 – Workers’ Compensation Insurance: A small independent insurance agency employed a team of dedicated agents who frequently traveled to meet clients. During one of these business trips, an agent was involved in a car accident while driving a company-owned vehicle. The agent sustained injuries that required medical treatment and time off work for recovery.
• Case Study #3 – Data Breach Insurance: A mid-sized insurance brokerage experienced a data breach when a cybercriminal gained unauthorized access to their client database. Personal information, including names, addresses, and social security numbers, was compromised.
• Case Study #4 – Commercial Property Insurance: An insurance agency leased office space in a commercial building. Unfortunately, a fire broke out in a neighboring unit, causing extensive damage to the building and the agency’s office. Their Commercial Property Insurance provided coverage for the repair and restoration of their office space, including furniture, equipment, and valuable documents.

As demonstrated by these diverse scenarios, business insurance plays an indispensable role in mitigating the financial impacts of unexpected events. Insurance agents and businesses alike can learn from these examples, recognizing the importance of adequately preparing for potential risks through comprehensive insurance coverage.

Learn more by reading our guide: Commercial General Liability (CGL) Insurance: A Complete Guide

In Brief: Business Insurance for Insurance Agents

Securing the right business insurance is crucial for insurance agents to protect their agency’s success. This guide has highlighted key insurance coverage types, including cyber, property and general liability, and professional liability insurance. Customizing coverage, comparing quotes, and following optimal insurance strategies are essential.

Real-life case studies demonstrated the positive impact of comprehensive business insurance, safeguarding against accidents, data breaches, and property damage. As an insurance agent, serving as a trusted advisor to clients and finding the right coverage is vital.

Travelers leads the market with its competitive rates and comprehensive coverage, setting the standard for business insurance tailored for insurance agents.

Ty Stewart Licensed Insurance Agent

Investing in comprehensive business insurance allows agents to navigate the industry confidently and focus on exceptional service. Protect your agency’s success, build a foundation for growth, and ensure a secure future. Safeguard your insurance agency today with tailored business insurance coverage. Thrive in the industry, serve clients with confidence, and protect your agency’s success.

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