Caters exclusively to small businesses
Next InsuranceOffers common types of commercial insurance, such as general business liability coverage and workers compensation policies
Offers more specialized business insurance policies, such as liquor liability coverage and errors and omissions coverage
Shapes policies to individual businesses’ needs
Makes it easy to get an insurance quote online in just a few minutes
Offers immediate proof of insurance once you’re coveredMunich REWhether you’re a veteran entrepreneur looking to change business insurance providers or a newbie eager to get your new business covered. Discover the truth why it is nothing like the others — and whether or not it is reasonable for the enterprise that is small.What Is Next Insurance?
Provides business that is tailored policies and packages to small enterprises in america. It had been founded in 2016.
Next Insurance offers liability that is general, workers compensation policies, professional liability coverage, commercial auto coverage, insurance for tools and equipment, and more specialized types of business coverage too.
Next Insurance tailors its offerings to specific professions and customizes coverage for individual businesses, ditching the approach that is one-size-fits-all to bigger, impersonal insurance providers. It serves service that is professional, contracting and trades businesses, restaurants, entertainment businesses, e-commerce entrepreneurs, and real estate professionals, among other industries.
I review insurance companies for a living, including business insurance providers, and can honestly say I’m impressed by Next Insurance.
From my perspective, the biggest potential knock that they haven’t been around very long on them— one that could prove unfounded — is. At the very least, not quite as an brand that is independent. But they’re backed by the firepower that is financial trustworthiness of
, which includes a monetary strength rating of A- (Excellent) from
How Next Insurance Stacks Up
Can an upstart business insurance provider founded not as much as about ten years ago really contend with commercial insurers which have been available for decades?
And if you trust it?
The Answer to both relevant questions is “yes.” In a head-to-head comparison with Nationwide, one of the country’s biggest commercial insurers, Next Insurance holds its that is own
Immediate Certificate of Insurance
Speed of Application Process
Often five minutes or less
Can take 30+ minutes
Need to partner with a representative?
- NoMay be necessary, according to your industry and coverage needs
- Professions Served900+, with personalized solutions for many
- Hundreds, however with a focus on specific industries like farming and logisticsWhat Sets Next Insurance Apart?
- Think all small-business insurers are alike? You better think again.Next Insurance sticks out through the pack for many reasons. We’ll discuss its specific benefits and drawbacks within the next sections, however for now, here’s the thing that makes Next Insurance different and just why maybe it’s a fit that is good your business.
Fast Proof of Coverage.
Next Insurance is the small-business that is only company to provide a live certificate of insurance (COI). Unlike paper certificates or certificates stored on hard disk drives, Next’s live certificate can be found through the Next Insurance app 24/7 to anybody who requests for it.
Policies Tailored to Specific Professions.
- All business insurance providers say they tailor policies to professions that are specific trades. Next Insurance actually does — because although plumbers and electricians might work on the job that is same, they will have completely different insurance needs.Lots of Coverage alternatives for Complex and Niche Businesses.
- Next Insurance offers seven main kinds of insurance policy. But within those, it includes niche items that support complex or business that is unusual.Easy to Manage on the Go.
- Next Insurance is not your grandparents insurance company that is. From making an application for your policy for you to get your insurance certificate to filing a claim, basically everything happens — or perhaps can happen — inside the Next Insurance app.Advantages of Next Insurance
- Why purchase a continuing business insurance policy from Next Insurance? Why work with a insurance agent that is next? Because Next Insurance does not conduct business like many business insurers. It offers an range that is unusually wide of options that come in a near-infinite variety of personalized packages.
- Breezy Application Process. The Next Insurance application process is really easy. It takes just five minutes to get an instant quote, and although the application that is actual a decent quantity of details about your online business, almost everything happens on the internet and on the schedule.
- Useful Mobile App. Next Insurance has an effective app that is mobile can use wherever you have Wi-Fi or data. Many insurers that are tradition-bound depend on overworked call centers and print-and-mail forms for routine communication.
Access Your Live Certificate of Insurance 24/7
. You can aquire your COI in seconds through the Next Insurance app. And that means you can provide anybody who needs it your COI in seconds too.
- Hundreds of Professions Served. Next Insurance serves an array that is astounding of, trades, and industries. As long as your business is legal and located in a state where offers that are next policies it takes, Next has your back.
- Custom-Tailored Policies for Individual Businesses’ Needs. Next Insurance is certainly not a insurer that is one-size-fits-all. It recognizes that even within professions, no two enterprises are exactly alike.key person life insuranceAutomatic Bundle Discount for Every Package of Two or More Policies
- . Need more than one business insurance policy? Buy them both with Next and get a guaranteed bundle discount — up to 10%, depending on the policy types and number.Disadvantages of Next Insurance
Next Insurance might not be the choice that is best to suit your needs insurance needs. It’s not perfect for people who run businesses familiar with using the services of insurance agents as intermediaries, nor for entrepreneurs who are in need of certain specialized kinds of coverage. It’s not the spot to obtain quotes that are multiple different insurers either.
Not Ideal for Entrepreneurs Who Want an Agent to Handle Everything
. “Old-fashioned” isn’t always a word that is dirty. If you want to operate directly with an insurance coverage agent who handles everything in your stead, in the place of through an app backed up by knowledgeable advisors and agents that are independent Next isn’t right for you. To be clear, insurance agents can offer policies through Next — but the ongoing company is indeed very easy to deal with that an agent won’t be necessary.
Missing a Few Key Types of Business Insurance
. Next Insurance covers business insurance bases that are most and offers all the most commonly used types of coverage. But it does have a few gaps, from niche insurance that is commercial like builder’s risk insurance to
- , which can be helpful for partnerships.
- Not an on-line Insurance Marketplace
- . Next Insurance is a continuing business insurance company, not a business insurance marketplace. Although its policies are reasonably priced — even more so when you bundle — you can’t compare competitors pricing that is a glance here.
- Key Attributes of Next Insurance
- You’ve seen what sets Next Insurance aside from its competitors. You already know why maybe it’s a fit that is good or not-so-good fit — for your business insurance needs.
- Now, Let’s dive into the nuts and bolts of Next Insurance: its specific insurance offerings, who it serves, and the social people and capabilities which make it special.
- Types of Insurance offered at Next Insurance
Next Insurance offers seven broad kinds of insurance:
- General liability insurance, which supplies financial protection when someone gets hurt at the business or your online business damages property it does not own
- Workers compensation insurance (workmans compensation), which takes care of lost wages and medical expenses for employees injured face to face — and which nearly all states require small enterprises to hold
- Professional liability insurance or errors and omissions (E&O) insurance, which supplies financial protection if you have a physical business location
- Within these seven types, Next Insurance offers insurance coverages tailored to the needs of specific industries and professions if you’re sued over an error you made at work
- Commercial auto insurance, which provides property damage and liability protection for company-owned vehicles
- Tools and equipment insurance, which you can add to your general liability coverage to insure damaged or stolen business equipment
- Commercial property insurance, which covers damage and loss of use for commercial real estate and physical property
- Business owner’s policy, which combines general liability and commercial property in a package that’s ideal. Notable niche coverages include:
- Product liability insurance, which is included in general liability insurance
- Liquor liability insurance, a policy that is specialized companies that serve or allow alcohol regarding the premises
- Hired and nonowned car insurance, a professional car insurance add-on for businesses where employees drive rented vehicles or use personal vehicles for work
Industries and Professions Served by Next Insurance
Next Insurance serves significantly more than 900 professions and trades. That’s so many to call here. But here’s a sampling of probably the most common kinds of small enterprises which can get coverage through Next:
Contractors and trades, including plumbing, electrical, HVAC, roofing, construction, and general contractor businesses
Education providers, including day cares
Fitness businesses, including gyms and self-employed fitness trainers
Entertainment businesses, including DJs and various other performers
Restaurants and bars (as well as beverage)
Financial services providers, including financial advisors and insurance agents
Auto service and repair businesses
Real estate brokerages and self-employed brokers
Professional services providers, including business consultants
Beauty and styling businesses
Certificate of Insurance and Policy Changes
Next Insurance offers a live certificate of insurance that resides in the next app that is mobile. It’s accessible 24/7 and you can instantly share it with anybody who has to find it. The COI that is live always up-to-date, meaning it changes when your policy does, so there’s no need to resend it when you add or remove coverage.
You can also make policy changes directly in the app, including coverage that is upping or adding one more insured (often a standard contractor or other business that hires you) to your policy.
Filing An Insurance Claim With Next Insurance
You can file a claim in the Next Insurance app without calling your insurance contacting or agent Next Insurance directly. Simply follow the prompts to begin the claims process, upload requested documents, and get claim updates.
If you do prefer to speak with a human, you can call Next Insurance’s claims hotline at 855-222-5919. Either way, Next strives to resolve claims within 48 hours — faster than old-school business insurers.
Next Insurance Advisors
You can do most everything policy-related through the Next Insurance app. But if you need more help, reach out to the customer service team.
Next Insurance calls its customer service agents “advisors,” and they certainly live up to the promise.
You can reach advisors by live chat from 6am to 5pm Pacific time. If you reach out after hours, you’ll receive an email as soon as an advisor gets back online.
Is Next Insurance Legit?
Yes, Next Insurance is legitimate.
Next Insurance is a brand that is relatively new to make sure. Nonetheless it’s supported by a insurance that is global that has been around for decades: Munich RE. A.M. Best, an rating that is independent that assesses insurance agencies’ financial strength, gives it an A- (Excellent) rating.
Next InsuranceIn other words, you can rest assured Next will make good on its promise to pay if you file a legitimate claim with Next Insurance. And although no one can predict the future, it sure seems like Next isn’t going anywhere — which is more than we can say about some other insurance startups.disability insuranceAlternatives to Considerhealth insuranceNext Insurance doesn’t have the market for business insurance to itself, of course. And it’s not necessarily the best choice in every situation.
Best although it’s one of the best business insurers around for small enterprises for
Hiscox(*)Freelancers and solo professionals without any intends to expand and business that is few(*)Progressive(*)Small and midsize businesses with large commercial truck and equipment fleets(*)Chubb(*)Small and midsize businesses that operate in multiple countries(*)CoverWallet(*)Comparing business insurance quotes from multiple providers(*)Final Word(*) isn’t flawless. No business insurer is. You won’t find insurance products commonly offered as employee benefits here, such as (*) or (*) — to say nothing of insurance-adjacent instruments like (*) and (*).(*)Next Insurance also omits a few types of business insurance, such as key person coverage, at least for now. And it’s not the first choice for business owners comfortable in existing agent relationships.(*)But although you can get Next Insurance coverage through an independent agent Next Insurance’s benefits far outweigh its downsides. An easy-breezy application process, and tailored policies for hundreds of different professions, Next is a superior business insurer with a powerful mobile app, 24/7 COI access. (*)