Best Small Business Insurance in Georgia

Small businesses have a huge impact in Georgia — they account for 99.6% of all businesses in the state. Georgia ranked No. 1 for business for 7 years running (2013-2019) and the 8th best state to start a business — thanks to the state’s commitment to helping small businesses by fostering a skilled workforce, low taxes, reliable infrastructure and high state credit ratings.

Georgia has also reported record levels of small business lending through the U.S. Small Business Administration (SBA). In 2017, for instance, the SBA guaranteed 1,876 loans totaling $1.41 billion. Despite favorable business conditions, small business owners who call Georgia home must safeguard their ventures through comprehensive insurance coverage.

Start with this guide to explore your small business insurance options in Georgia.

Quick Look: Best Small Business Insurance in Georgia

• Best Overall for Small Business Insurance: The Hartford
• Best for Tailored Coverage: Simply Business
• Best for Diverse Professions: Hiscox
• Best for Self-Employed Professionals: Suracy
• Best for Workers’ Compensation Insurance: Travelers
• Best for Business With Less Than 25 Employees: Next

Best Small Business Insurance Options in Georgia

Lawsuits, accidents and natural disasters could easily run you out of business if you’re not covered by the right insurance. Small businesses in Georgia’s array of industries can find coverage with these business insurance providers.

1. Best Overall for Small Business Insurance: The Hartford

For over 200 years, The Hartford has helped businesses in Georgia prevail in the unexpected. Its strong reputation has been named the world’s most ethical company 12 times. It also has a strong claims experience reputation, with a rating of 4.8 out of 5 from over 16,000 reviews.

Georgia business has a host of coverage options, including:

• General liability insurance
• Commercial flood insurance
• Workers’ compensation insurance
• Employment practices liability insurance
• Data breach insurance
• Home-based business insurance

The Hartford also has a business owner’s policy (BOP), which incorporates business property and business liability into 1 policy. If you need to cover additional people on your liability policy, The Hartford can help you add them via additional insured endorsements. It can also offer up to $10,000 worth of employment practices liability insurance.

You can easily get a customized quote through its online quote tool. Just provide the year the business was established, describe its nature, provide the ZIP code, number of employees and number of business locations.

• Quote process: Online or over the phone
• Policy purchase process: Online
• States served: All 50 states

2. Best for Tailored Coverage: Simply Business

Simply Business offers a comprehensive suite of business insurance that specializes in making it easy to insure your business. 

Whether you’re looking for construction workers' insurance or insurance for your startup, Simply Business helps you find the right coverage at the right price. 

Tell Simply Business a little bit about your business and you'll get almost-instantaneous affordable quotes from top insurance providers. You can look into workers’ comp insurance, business owner’s policies, liability for general and commercial purposes, commercial auto plans and much more that will cover everyone on your team, and you can get covered in accordance with Georgia law without overspending. 

Building your business is hard enough. Let Simply Business make it easier. Get a quote from Simply Business today.

• Quote process: Online or over the phone
• Policy purchase process: Online
• States served: All 50 states

3. Best for Diverse Professions: Hiscox

Hiscox’s expertise across multiple industries lets it provide business insurance coverage for over 180 professions, including personal trainers, business consultants, cosmetologists, lawn care providers and janitorial services. The carrier tailors each insurance plan to the specific risks and needs of each business and its industry.

Some of the insurance products available in Georgia include:

• General liability insurance
• Professional liability insurance
• Business owner’s policy, which combines general liability and business property insurance

Payment options are flexible with the option to adopt its monthly payment schedule at no added cost. Besides, any Georgia business insured through the carrier is covered to operate anywhere around the world. Just be sure to file your claim in the U.S., Canada or in a U.S. territory.

With Hiscox, you’ll only pay for the business coverage you need. And when you report a covered claim, the company will appoint an attorney if necessary. For any queries, you can call a Hiscox licensed agent through 866-283-7545, otherwise, get your fast, free quote toda

• Quote process: Online or over the phone
• Policy purchase process: Online
• States served: All 50 states

4. Best for Self-Employed Professionals: Suracy

Previously AmVenture, Suracy is a great option for self-employed individuals in the service business. Its complement of services will not only protect your business but also foster growth and mitigate risk. The company is constantly seeking to partner with providers that can deliver tailor-made business insurance solutions.

You can also purchase its cyber liability coverage, which ensures that your business is in compliance with all breach notice requirements. Suracy also has the resources and tools to guide your small business through the ways it can mitigate a fallout from an employment-related claim. Its 24/7 online claims service guarantees a quick claims handling process.

• Quote process: Online, by email or over the phone
• Policy purchase process: Online
• States served: All 50 states

Travelers is the leading writer for workers’ comp insurance in the states, so your Georgia business is adequately protected. With over 100 years of experience, the carrier has developed a wide range of products and innovative solutions for businesses.

Travelers is trusted by over 500,000 customers for bringing local expertise, a nationwide network and experienced underwriting teams in each state. The company is committed to making your work environment safe for employees, reducing claim costs, offering injured workers appropriate care, improving claim outcomes and helping employees get back to work.

With Travelers, you can enjoy multiple convenient payment options, including credit card, EFT and pay-as-you-go. Its proprietary risk control services can help you identify and prevent accidents before they occur. 

Workers’ compensation laws and regulations might be complex in the state, but Travelers will easily and expertly walk you through the process. Just enter your ZIP code to find an agent near you.

• Quote process: Online or over the phone
• Policy purchase process: Online
• States served: All 50 states

6. Best for Business With Less Than 25 Employees: Next Insurance

Next Insurance is a comprehensive insurance provider that offers a wide range of coverage options for businesses of all sizes in Georgia.

With its focus on providing tailored solutions to meet the specific needs of each business, this insurer stands out as a top choice for companies looking to protect their assets and minimize risks. It offers coverage on general liability, workers' compensation, business owner's policy (BOP), professional liability, and other coverages.

Next's simple, straightforward approach is helpful to those who are trying to figure out what needs coverage and how best to handle it. The website is easy to navigate and understand, and you can find your answers in minutes regardless of the question.

• Quote process: Online or over the phone
• Policy purchase process: Online
• States served: All 50 states

Cost of Small Business Insurance in Georgia

The cost of your small business insurance will vary. According to The Hartford, the average cost of a general liability policy is $500 per year. Progressive also reports that the average cost in 2019 for a business owners policy was $80 while the median monthly cost was $62.

Averages don’t always give the whole story — your final rate depends on the details of your setup. Costs also depend on the type of cover you need, since each policy insures different risks, which are factored into the final price.

The most influential factors in calculating your business insurance cost include:

• Profession: Businesses don’t carry the same amount of risk. Businesses with higher risks will pay more than those with lower risks. For instance, a tree trimming business will pay a higher premium than a home-based financial advisor.
• Number of employees: You’ll pay a higher premium if your business has more employees — there’s a higher potential for claims. Every additional employee increases your exposure to damages or accidents.
• Claims history: A business with a few claims made against it is likely to operate more safely, so the cost of coverage will be low.
• Premises size: A larger business location increases the risk of claims, so the cost of general liability insurance will be higher.

You can manage your small business insurance costs by:

• Bundling insurance coverages combines multiple policies into 1 instead of having multiple policies with different carriers.
• Increasing the deductible on your small business insurance policy may lower the cost of your premium. Make sure you’re comfortable paying the deductible you choose.
• Review coverages annually to ensure you have the right coverage for your setup. You may find that you need to drop some existing coverages if you downsized your business or introduced operational changes.
• Paying your premium up front lets you enjoy discounts on your policy.

What Does Small Business Insurance Cover?

Each type of business insurance protects against different risks. Here are some common small business insurance coverage options.

General Liability

General liability protects you from the financial costs of bodily injury, property damage and advertising injury claims against your company. It also covers financial losses due to slander or libel. Most commercial leases need this coverage.

Commercial Property Insurance

Commercial property insurance is essential if your business owns a building, leases or is home-based. It safeguards your business’ physical assets from theft, vandalism, explosions, fire, burst pipes and storms. This policy doesn’t cover floods and earthquakes — be sure to add them to your cover.

Product Liability Insurance

Product liability insurance protects you against claims that a product you designed, manufactured or sold caused injury or damages to an individual outside of your business. You’ll still be liable even if the product was used incorrectly.

Worker's Compensation Insurance

Workers’ compensation insurance provides benefits to employees for work-related illnesses and injuries. These benefits can help cover medical care, replace lost income, provide disability benefits or pay for funeral costs. Most states require this coverage if your business has more than 3 employees.

Professional Liability

Professional liability protects you and your business against claims that professional services or advice you offered caused a customer financial harm. This could be because of a mistake on your business’ part or failure to perform some service.

Find Your Small Business Coverage Today

Business insurance will protect you against the unexpected costs of running your small business. Think about the kind of natural disasters, accidents or lawsuits that could run you out of business. You want to make sure you insure every aspect of your business.

Prices and benefits will vary significantly — compare terms, rates and benefits for quotes from multiple carriers. Use our online tool to get your free quote today.

Frequently Asked Questions