Top
10 Business Insurance Companies In The U.S
Business
insurance companies create some of the most comprehensive
websites on the internet in terms of information for customers and potential
customers. Bigger is not always better, but by reviewing some of the largest
insurers' websites you can find information about programs and specialties
offered by each company and get a sense of what business insurance is available
for your business.
1. American International Group
American International Group, or AIG, is the
largest property and casualty insurer in the United States. AIG is also one of
the largest companies in the United States placing 10th on the Fortune 500 list
of companies in 2007.
AIG's website is helpful and easy to navigate. The
homepage includes a drop-down menu where the visitor can choose company size
and review business insurance products available from AIG for that size
company.
2. Berkshire Hathaway Group
The Berkshire Hathaway Group is a holding company
for many, many different companies. A number of these are insurers, including
GEICO and the United States Liability Insurance Group. The link above takes you
to the list of Berkshire companies. Check out the USLIG site. Specific
industries are listed on the left and this can be a big help in organizing what
types of insurance your business may need. Also, note that USLIG has an
Artisan/Trade Contractor insurance package and a child care package.
3. Allstate
Allstate is the third largest property and
casualty insurer in the United States, but it is hard to get a read on how much
of that is devoted to commercial insurance and how much is personal lines.
Their site give a list of business insurance coverages that they provide and a
phone number for a quote.
4. Hartford Financial Group
The Hartford has been in business for nearly two
hundred years, but it is operated as a cutting edge insurer with one of the
highest approval ratings among customers. I particularly like this website
because it provides information, options, suggestions and links to local agents
and brokers. The Hartford also has a home based business program that is
endorsed by the AARP.
5. The Travelers Companies
Travelers is a good option for those companies
that can meet Travelers underwriting guidelines. The website is very
informative with a very good description of their business owners policy
program. Travelers focuses a great deal on risk management. As an example,
Travelers has partnered with a company to allow its insured immediate access to
up-to-date material safety data sheets online and by facsimile.
6. Liberty Mutual Insurance
Liberty Mutual is another large insurer (like
Allstate) that derives a substantial amount of premiums (my research indicates
44%) from auto and personal lines. That is not necessarily a bad thing, but
when you review their website you'll notice that "business" is placed
last on its link list. Liberty has been trying to expand internationally and,
overall, its website is helpful.
7. Nationwide
What can I say, I'm an Ohio native and any company
that brings hockey to Ohio is top in my books! Nationwide premiums often rank
among the highest, but its customer satisfaction rates are very high as well.
It is primarily a property and casualty company and personal auto and
homeowners is a large portion of its business. But, it has a strong commercial
auto business and commercial business is reported to represent somewhere
between 15 to 20% of property and casualty premiums. Good website, but the site
pushes you to its life and financial planning section - which happens to be
another big section of its business.
8. Progressive
Another Ohio company, Progressive is predominantly
an auto insurer. Not a very helpful site for the business insurance purchaser,
there is a link to its commercial auto division at the bottom of the site. It
is unfortunate that Progressive does not stress their commercial auto business
on the main website because it is a good choice for small truck fleets.
9. Loews Corporation (CNA)
Loews Corporation makes it to this list because
its subsidiary, CNA Insurance, is one of the nation's largest insurers. I find
the website difficult to navigate. Not very helpful, and that is unfortunate
because CNA has a number of small business programs and commercial products
that are excellent. CNA is an especially good choice for design and construction
professionals.
Disclaimer/Bias: Your guide worked with CNA as an
associate with an outside counsel of CNA.
10.
Chubb
Rounding out our list is Chubb Insurance. Chubb
started as a marine commercial insurance company and it sticks with those roots
by offering some really excellent commercial products. The company consistently
receives high customer satisfaction ratings. I like a website that puts
business insurance first and provides a lot of information. Chubb Business
insurance is sold through independent agents and brokers and so its pricing is
competitive. Chubb claims to be an industry leader in specialty insurance and
the site lists a number of specialty programs.
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