Commercial insurance is a must to protect your business investment. Start with our guide to everything you need to know to find the best commercial insurance in Georgia.
Get a Custom Quote in Georgia
When it comes to finding the best insurance, it’s all about the quote. Most providers will offer you a fast, free, customized quote for commercial insurance policies tailored for your business. Collecting quotes will help you compare the cost and coverage each insurance company can offer your business.
Best Commercial Insurance Options in Georgia
The next step is selecting the right insurance company. Each insurance company may have different coverage options in its insurance policies, so it’s important to keep this in mind when choosing the best 1 for your business.
Here are our recommended providers of commercial insurance in Georgia.
Best Overall for Commercial Insurance: The Hartford
The Hartford is a top company for commercial insurance policies. It offers a wide range of insurance products to mix and match coverage from every angle. This company also breaks down insurance coverage by state and can help your business be sure it meets Georgia’s commercial insurance requirements.
The Hartford offers:
- General liability insurance
- Commercial flood insurance
- Commercial umbrella insurance
- Workers’ compensation insurance
- Employment practices liability insurance
- Business owner’s policy, which combines property and liability coverage into a single policy
If you choose The Hartford for your commercial insurance products, you’ll benefit from dedicated customer service from The Hartford’s representatives. It offers separate phone lines for quick service. You can find help to get a quote, report a claim or simply ask a question about your policy.
Best for Commercial Auto Insurance: Allstate
Allstate offers commercial auto insurance to small- and medium-sized businesses in Georgia. With Allstate, your commercial auto insurance policy will include:
- Liability protection if your employee causes an accident that injures others or damages other vehicles.
- Collision covered if your business vehicle is damaged, regardless of who is at fault.
- A comprehensive solution to cover damage to your vehicle from severe storms and hail damage.
- Uninsured motorist coverage to cover medical expenses for you or your employees if an uninsured driver in another vehicle causes an accident with your company vehicle.
- Coverage for rented or borrowed vehicles to protect your business in the event of costly repairs to a vehicle that you don’t own — even if you’re still paying money on the vehicle’s loan or lease.
Allstate’s unique employee model means that any Allstate agent that you speak with is a business owner themselves. When you reach out to any of its certified agents for assistance, you can rest easy knowing you’re in good hands with someone who knows the needs of a business owner.
Best for Commercial Flood Insurance: Nationwide
Commercial flood insurance is a unique product that may not be on your radar. All flood insurance coverages and rates are set by the National Flood Insurance Program but that doesn’t mean that you still shouldn’t be careful in selecting your provider.
Nationwide understands flood insurance and the risks your business may face when it comes to flooding. You can trust an agent from Nationwide to give you all of the information and tools you need to decide whether flood insurance is right for your business.
You can also work with your Nationwide agent to determine whether your business may be required to hold a commercial flood insurance policy. Whether you own a small or large business, you’ll be able to pair a commercial flood insurance policy with Nationwide’s other commercial insurance policies.
Best for Commercial Property Insurance: Hiscox
Hiscox offers licensed agents that can help you determine whether you may need commercial property insurance to protect your business.
You can trust your agent to outline exactly what’s covered by its commercial insurance policy. For example, you’ll receive coverage for up to $25,000 worth of your business equipment with a Hiscox commercial property insurance policy. You’ll also receive coverage for your business equipment even if it’s not on site at your business property.
Hiscox’s commercial insurance policy also includes coverage for electronic data. If data is lost due to an event such as a virus or malicious code, you’ll receive up to $10,000 of coverage to restore or replace this electronic data. If your business needs more coverage or coverage that’s not included in this policy, Hiscox can help you fill the gaps to ensure your business is fully protected.
Best for Commercial Cyber Insurance: Progressive
Progressive offers several cyber insurance coverage options to protect your business from a variety of threats and legal liabilities.
You can work with your Progressive agent to figure out whether your business needs 1st-party or 3rd-party coverage. It can also help you figure out how much coverage you need based on your business’s exposure to cyber risks and any contract requirements your business has. If your business only has a small amount of cyber risk, Progressive may even be able to add cyber coverage to a business owner’s policy to save you money.
Cost of Commercial Insurance in Georgia
Several factors will determine the cost and examples from some insurance companies. For a new Progressive commercial auto insurance policy in 2019, the national average monthly cost was $183.
Some of the factors that will determine the cost of your business policy include:
- Risk: the amount of risk your business faces will determine the amount of coverage you need. This includes whether your employees operate dangerous equipment or work in a more hazardous environment, like a construction zone.
- Claims history: insurance companies may consider your business’s claims history when determining your insurance rate. If your business has several past claims, it may be an indication of a higher possibility of future claims.
- Location: the location of your business can expose it to more risks. This includes risks due to weather patterns as well as risks due to other factors such as crime and vandalism.
There may be some ways to save on your insurance policy, including:
- Discounts from your insurance company
- Purchasing only the coverage your business needs
- Bundling coverages into a single policy when possible
Types of Commercial Insurance
There are several types of commercial insurance and each has its own benefits. Here are some common types of commercial insurance to consider:
Commercial Auto Insurance
Similar to auto insurance for your personal vehicles, commercial auto insurance can provide comprehensive coverage for vehicles used for business. Coverages include damage to your company vehicles, damages to other vehicles or property and injuries to people in your vehicle or the other vehicle in an accident.
Covered vehicles may include pickup trucks, box trucks, service utility trucks, food trucks, semi-trucks and tractor-trailers. However, some policies don’t cover all of these vehicles, so be sure to confirm that the company you choose covers the vehicles your business uses.
Commercial Flood Insurance
Flood insurance covers specific incidents that are usually not included in other commercial insurance policies. It covers damages to both your business building and content due to flooding. Flood insurance coverage and rates are set by the National Flood Insurance Program and won’t vary between insurance companies.
Commercial Property Insurance
Commercial property insurance offers coverage for more than just your business’s building. It also offers coverage for outdoor signage, fencing, landscaping, business inventory, furniture and equipment. Covered claims include damages caused by fire, lightning, wind, hail and acts of vandalism.
Commercial Cyber Insurance
Commercial cyber insurance exists to protect businesses from a wide range of threats in today’s digital world. It can be broken down in 2 parts:
- 1st-party coverage includes protection for attacks on data that is owned by your business. For example, this might include a data breach in which the personal data of your customers is stolen. 1st-party coverage might also be able to help your business cover professional assistance and ransom payments if your business faces a threat of cyber extortion.
- 3rd-party coverage is there to help with defense and settlement costs if your business faces a lawsuit from customers due to a cyber incident. This includes if your business is sued because it is held liable for a data breach or because your business did not properly secure its systems. 3rd-party coverage can also come in handy if your business faces digital media claims of copyright infringement, defamation and violation of privacy.
Find the Right Commercial Policy
Finding the right commercial insurance policy is easy. All you need to do is get a customized quote for your business, compare your options and choose the company and policies that best protect your business. Start with our recommended providers today.
Benzinga crafted a specific methodology to rank commercial insurance. We prioritized carriers based on coverage options, specialized industries, customer service experience and how quickly and easily you're able to get insured including online tool usage. We also included commercial insurance quote aggregators in lists to make it easy and efficient to compare policy quotes and options. To see a comprehensive breakdown of our methodology, please visit see our Commerical Insurance Methodology page.