Best commercial property insurance for small businesses
Commercial property insurance covers financial losses caused by fires, storms, and other destructive incidents. However, policies vary in terms of their cost, coverage, and support offered by the insurer. Find the best commercial property insurance companies for your risks and your budget.
What are some of the best companies selling commercial property insurance in 2025?
Your small business is unique, which is why we offer commercial property insurance policies from a wide range of insurance companies. Some providers specialize in insurance for certain professions, and others operate in limited geographical areas.
Insureon works with 40+ U.S. insurance providers to find the specific coverage that is right for your business. As the #1 online agency for small business insurance, we've helped over 400,000 small businesses get protected with more than 1.5 million policies.
When you request free quotes with our easy application, we do the work for you by retrieving quotes from the companies that best match your business needs. The most important factors are:
- Best-rated commercial property insurance companies, in terms of financial strength
- Best providers for your industry
- Best providers for your business's location
- Best carriers for bundling commercial property insurance
Many of our insurance partners offer a business owner's policy (BOP), which is an opportunity to buy commercial property insurance and general liability insurance together at a discount. All of our carriers are rated excellent or superior by AM Best, a global credit rating agency specializing in the insurance industry.
Best-rated commercial property insurance companies
When buying commercial property insurance with Insureon, you'll get quotes from some of the biggest names in the industry.
Based on financial strength and overall rating, our top carriers for property insurance include:
- The Hartford: Rated A+ by AM Best. Located in Hartford, CT. Specializes in property and casualty insurance, group benefits, and mutual funds.
- Liberty Mutual: Rated A. Located in Boston, MA. Specializes in property and casualty insurance.
- Acuity: Rated A+. Located in Sheboygan, WI. Specializes in property and casualty insurance.
- Chubb: Rated A++. Located in Simsbury, CT, Charlotte, NC, and Phoenix, AZ. Specializes in property and casualty insurance, business owner's policy.
- The Hanover: Rated A. Located in Worcester, MA. Specializes in business, specialty, and personal insurance.
Depending on the provider and other factors, you might see this coverage called commercial property insurance, business property insurance, or business hazard insurance.
How much does commercial property insurance cost?
The average price of a commercial property insurance policy is $67 per month for Insureon's small business customers.
Commercial property insurance premiums are based on a few different factors, including:
- The type of property and its value
- The age and condition of your building
- Your geographic location
- Your policy's deductible and coverage limits
- Whether items are insured for their replacement cost or actual cash value
- Claims history
Verified commercial property coverage reviews
Best commercial property insurance carriers by industry
When searching for commercial property insurance for your small business, your profession is a key factor. A provider who knows the risks of your specific industry can help make sure you get the right property coverage, including any necessary endorsements.
Here are the recommended providers for property owners and renters in our top industries.
IT / Technology
Startups and other small IT companies often choose The Hartford and The Hanover for their commercial property coverage. This policy protects your office and everything in it, including computers, monitors, servers, furniture, and furnishings.
Depending on the specifics of your business, you may need additional coverage, such as:
- Electronic data liability coverage to cover financial losses in the event of lost, inaccessible, or corrupted data.
- Equipment breakdown coverage to pay for losses if a piece of crucial equipment breaks down unexpectedly.
Healthcare
Healthcare professionals and healthcare facilities rely on a wide range of providers for commercial property insurance, including The Hartford, Liberty Mutual, The Hanover, and Nationwide.
When you bundle property insurance with general liability insurance in a business owner's policy, you can often add specialized coverages, such as:
- Biomedical waste
- Accidental damage to patient property in your care
- Equipment breakdown of MRIs, CAT scans, and other diagnostic equipment
- Perishable goods spoilage for medical samples
Retail
Many retailers depend on The Hartford and Liberty Mutual for commercial property insurance to protect their buildings, inventories, cash registers, and supplies.
Remember, commercial property insurance only covers your building and its contents. Your provider can help you secure additional protection, such as inland marine insurance to cover any products in transit or stored off-site, or finished stock insurance to protect your inventory from spoilage, power outages, or other damaging incidents.
You should also consider business interruption insurance, which is often included in a business owner's policy. This policy covers lost profits, employee wages, and operating expenses during a temporary closure caused by a fire, storm, or other covered property claim.
Restaurants
Restaurants often buy commercial property policies from The Hartford, AmTrust, and Chubb.
Many restaurant owners choose a business owner's policy to save money on general liability insurance and property insurance. This gives them protection against lawsuits stemming from customer accidents, as well as damage caused by a kitchen fire or vandalism.
If your restaurant serves alcohol, you'll want to add liquor liability insurance to your BOP to protect against lawsuits related to intoxicated customers. Other common endorsements include data breach insurance to protect against exposed customer information, business interruption insurance to cover temporary closures due to a fire, storm, or other covered claim, and spoilage coverage to protect your perishable goods.
Consulting
The Hartford, Hiscox, and Chubb are a trusted source of commercial property insurance for IT consultants and other consulting firms.
They can help you find property coverage for your office, computers, equipment, and other physical assets. You can add riders for unique risks, such as electronic data liability coverage, business interruption coverage, or accounts receivable coverage.
If you have a home-based business and don't need coverage for a building or office, you can add a business personal property (BPP) endorsement to your general liability policy to cover your computers and other items.
Top professions that need property insurance
Don't see your profession? Don't worry. We insure most businesses.
Best commercial property insurance carriers by state
Some companies have a limited area of operations, so your state is an important consideration when it comes to the best commercial building insurance. Here are the most popular small business insurance companies for our top five states, based on the number of commercial property policies sold.
| State | Top 3 commercial property insurance companies |
|---|---|
The Hartford The Hanover Hiscox | |
The Hartford Acuity Chubb | |
The Hartford Acuity Chubb | |
The Hartford Chubb Hiscox | |
The Hartford Acuity Chubb |
Best carriers for bundling commercial property insurance
Many insurance companies offer a discount when you bundle commercial property insurance with other small business insurance policies.
The most popular choice for small businesses is a business owner's policy, which combines commercial property insurance with general liability insurance at a discount. Most small, low-risk businesses are eligible for this coverage.
Another option is a commercial package policy (CPP), which is designed for businesses with higher risks. It offers a broader range of coverage options and higher limits than a BOP.
These insurance carriers offer some of the best options for commercial property bundles:
The Hartford includes business income insurance in its business owner's policy, which most other carriers don't automatically include. Also called business interruption insurance, this coverage ensures your business can withstand the financial impact of a forced closure due to a fire or other covered loss.
You can often add data breach insurance and other specialized coverages for your business's unique risks.
Acuity's version of a business owner's policy is the "Bis-Pak," which combines property insurance, general liability, and business income coverage. This package includes a few extras, such as coverage for additional business locations or projects, and $10,000 in ordinance or law coverage.
You can customize your policy with a range of property and liability endorsements, or add on other types of insurance such as employment practices liability insurance (EPLI) or errors and omissions insurance (E&O).
Chubb's business owner's policy is available for small business owners with up to $30 million in revenue, across more than 500 different professions. The company offers a wide range of customizations, including:
- Privacy and data breach
- Earthquake, in selected states
- Employment practices liability
- Electronic data liability
- Equipment breakdown
- Professional liability insurance, for certain professions
What are the risks of not having commercial property insurance coverage?
When your business has an office, storefront, or other property, that's typically your biggest investment. It's also your biggest risk, as a fire could wipe out your business or force you to close for so long that it's impossible to recover.
Commercial property insurance gives you a financial safety net and peace of mind to focus on your business. It helps you recover quickly if your office is damaged in a windstorm, or if a pipe bursts and destroys the computers you depend on.
It can be difficult or impossible to get a lease or a loan without property insurance. If you lease a space in a commercial building, your landlord might require you to carry this coverage. The Small Business Administration (SBA) and other lenders often require this coverage for property used as collateral in a business loan.
In short, commercial property insurance is a crucial part of your business's risk management plan. Even when it's not required, our insurance agents strongly recommend you carry this coverage when you own or rent a commercial space.
Keep in mind that policyholders may need endorsements to cover common exclusions, such as hurricanes, earthquakes, and other natural disasters. And if you have homeowner's insurance, it'll provide little to no coverage for your business property.
General liability insurance
Business owner’s policy
Workers’ compensation insurance
Commercial auto insurance
Cyber insurance
How do I find the right commercial property insurance?
It's easy to get business property insurance and liability insurance with Insureon. Fill out our easy online application to receive quotes from trusted providers. Our expert insurance agents are available to help answer any questions and help you find the best policies for your insurance needs. Most businesses can get same-day coverage and easily download a certificate of insurance as proof of coverage right away.
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