Next Business Insurance Review

Next Business Insurance Ratings at a Glance

When you own a business, business insurance is something that you cannot forego. You will a wide range of the types of coverage you can purchase, so it's a good idea to speak with a professional about which business insurance types will best suit your needs.

Benzinga reviewed Next Business Insurance, so keep reading to determine if this business insurance company is a good fit for you.

NEXT focuses on offering small business insurance to a variety of companies and self-employed professionals with fewer than 25 employees. The following are some of the most popular coverage options that NEXT currently offers.

General Liability Insurance

General liability insurance is a catch-all type of insurance policy that provides you with a number of coverages that nearly any small business owners can use. NEXT’s business insurance policy includes coverage for the following.

• Bodily injury liability: If a client or customer injures themselves on your property and sues for the cost of their medical bills, your general liability insurance from NEXT can help you pay for legal expenses and awarded judgements.
• Property damage liability: If you accidentally damage a client or customer’s property, they may sue you for a repair or replacement. Your general liability insurance can help you pay for court costs in these instances.
• Advertising damages: When advertising your business, it’s possible to accidentally copy another business’s copyrighted slogan or commit an act of libel. Your general liability insurance will help cover court fees associated with advertising injuries. 

Commercial Property Insurance

Commercial property insurance is similar to homeowner’s insurance except that it protects commercial spaces that you rent or own. NEXT’s commercial property insurance protects the spaces, equipment and structures that you need to run your business. NEXT’s policies also include coverage for inventory replacements after a covered peril and business income protection if your business is forced to suddenly close. 

A business owner’s insurance policy (BOP) combines general liability insurance with commercial property insurance coverages. BOPs are popular choices among small business owners, and you can save up to 10% when you bundle general liability and commercial property insurance together in a BOP with NEXT.  

Workers’ compensation insurance is a type of coverage that helps your employees cover medical bills and lost wages when they are injured over the course of regular business activities. Depending on where you live, you may be legally required to purchase workers’ compensation insurance as soon as you hire your first employee.

In addition to lost wages and medical expenses, NEXT’s worker’s compensation insurance also provides coverage for retraining expenses for employees who need to learn new skills after injuries and benefits for employees who are permanently disabled. It also includes coverage for legal expenses if an employee attempts to file a lawsuit against you.   

Professional Liability Insurance

Professional liability insurance helps you cover the costs of legal expenses if a client alleges that you’ve operated your business or provided services in a negligent way and sues you for damages. NEXT’s professional liability insurance policy options combine general liability protections with a specific type of insurance called errors and omissions coverage. This ensures that claims of negligence, missed deadlines and other types of business are covered. 

Liquor Liability Insurance

If your business serves alcoholic beverages, liquor liability is must-have protection. NEXT offers liquor liability insurance that provides financial protection against claims brought by intoxicated customers who are injured on your property or who damage other patrons’ property while under the influence. It also helps you cover the cost of legal representation and medical bills if a customer is involved in an accident while over the legal blood alcohol limit after visiting your establishment.  

Commercial Vehicle Insurance 

If your business uses any type of commercial vehicle, you’ll need commercial auto insurance to stay on the road legally. NEXT’s commercial auto insurance provides state minimum coverage in accordance with your local laws, as well as optional coverage for towing labor, comprehensive coverage, collision coverage, collisions with uninsured motorists and rental car coverage.

Specialized policies are also available to protect tools and equipment that you own or rent. 

In addition to phone and email support, Next offers onsite live chat.

Once you start a Quote the chat bubble appears in the lower right of your screen and can be engaged with at any time if there are questions. 

The chat bubble will be offered throughout the quote purchase path and shows a support form to submit questions if an agent is not immediately available. 

Live chat is also present onsite anytime post-purchase when users log in to their account so that existing customers always have access to support in addition to phone and email.  

NEXT prides itself on providing affordable insurance solutions for business owners. The company claims that it can offer you the same types of coverages as major insurance providers for up to 30% less. NEXT’s policy options vary depending on the type of business you operate and where you’re located.

Let’s take a look at estimated coverage costs for a real estate agent who lives and operates their business in Philadelphia, Pennsylvania and expects to earn $100,000 in sales and commissions in the next year.

Errors and omissions insurance

• Basic coverage ($250,000 coverage limit, $2,000 deductible): $31.59 per month
• Recommended coverage ($1,000,000 coverage limit, $2,000 deductible): $53.75 per month

General liability insurance

• Minimum coverage ($500,000 coverage limit, $0 deductible): $25.00 per month
• Recommended coverage ($1,000,000 coverage limit, $0 deductible): $25.67 per month

Commercial property insurance ($45,000 limit)

• Basic coverage ($500 deductible, no coverage supplements): $40.84 per month
• Recommended coverage ($500 deductible, includes coverage supplements like sump pump overflow and key and lock replacements): $63.00 per month

NEXT’s unique, customizable policies can help you tailor your insurance to the needs of your small business. Here are some of the biggest benefits NEXT offers over larger insurance providers:

• Help from licensed advisors: If you need to call NEXT’s customer service line, you can receive assistance from licensed insurance advisors based in the United States.
• 100% online process: Applying for small business insurance through NEXT is a quick and easy process. You’ll be able to get your coverage entirely online and without waiting for a call back from a representative.
• Savings over traditional insurance processes: NEXT’s insurance policies were designed with small business owners in mind, allowing you to save up to 30% on your insurance through bundling and exceptionally affordable policy choices. 

One of the strongest aspects of NEXT’s online orientation is how simple it is to get a policy. Business owners can get a quote online in just a few minutes after answering some simple questions about your business. 

NEXT’s quote calculation tool will automatically apply any discounts that you qualify for as you move through the application process. This instant self-service platform puts you in control of your insurance, adjusting coverages and exploring pricing options to find and sign onto the best possible for your needs.  

NEXT Business Insurance vs. Competitors

NEXT offers a number of benefits over competing insurance companies:

• Self-service quote policy: The majority of insurance companies offering business insurance options require you to consult with a representative before finalizing your quote. NEXT allows you to get a quote online in as little as 10 minutes.
• Industry-specific policies: One of the first questions you’ll answer when completing your online application is what industry you work in. This allows NEXT to customize your coverage to fit only the insurance you’re likely to need within your industry.
• Instant COIs: Need your Certificate of Insurance (COI) fast? NEXT allows you to get your COI in your hand with just a few clicks. 

NEXT’s customizable policies can be ideal for business owners looking for affordable policy options and who need coverage quickly. Business owners can fully apply for and sign onto their policies online. Most users will be able to get coverage in minutes. 

Though NEXT doesn’t offer paper policy options that some business owners prefer, it has a comprehensive range of coverage types with affordable prices to go along with them. 

Get Started with NEXT Business Insurance

Small business owners need insurance to protect both their families and employees. A quote from NEXT business insurance can be a convenient way to begin your search for insurance. 

Because you can apply entirely online, you can start exploring business insurance options in just 10 minutes. Connect with NEXT today to find your policy.

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