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 2026?
Your small business is unique, which is why we offer commercial property insurance policies from numerous trusted sources, including some of the largest insurance companies in the nation. Some providers specialize in property insurance for certain professions, and others operate in specific geographic regions.
Insureon is the #1 digital agency for small business insurance, with access to 100+ U.S. insurance providers to fulfill a diverse range of insurance needs. We've helped over 450,000 small businesses get protected with more than 1.8 million policies.
When you compare 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 includes both commercial property insurance and general liability insurance at a lower price than buying these types of coverage separately. 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. We do the research for you, providing customized quotes only from those carriers who match your risks.
Keep in mind, the cheapest policy isn't always the best choice, as coverage options differ by more than price alone.
Based on financial strength and overall rating, our top carriers for property insurance (also called business hazard insurance) include:
Liberty Mutual
- AM Best rating: A (Excellent)
- Customer rating: 90% highly satisfied with claims process
- Coverage area: Nationwide
The Hartford
Acuity
- AM Best rating: A+
- Customer rating: 96% claims satisfaction
- Coverage area: 30+ states, based in the Midwest
Chubb
- AM Best rating: A++
- Customer rating: 98% satisfaction rate
- Coverage area: Nationwide
The Hanover
- AM Best rating: A
- Customer rating: 92% satisfaction rate
- Coverage area: Not available in all states
How much does commercial property insurance cost?
The average cost of commercial property insurance is $108 per month. Annual premiums range from $350 to over $15,500 per year.
Underwriters look at several factors when determining the price of a commercial property insurance policy:
- 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 (cost of a brand-new item) or actual cash value (includes depreciation)
- 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 your specific type of business 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 Travelers.
When you bundle property insurance with general liability insurance in a business owner's policy, you can often add coverage for other property risks, 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
Retailers often 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. Also called business income insurance, this policy covers lost income, 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, Travelers, 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, vandalism, or other unexpected event.
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
- Spoilage coverage to protect perishable goods
Consulting
The Hartford, Hiscox, and Chubb are trusted sources 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 related 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
Best commercial property insurance carriers by state
Some insurance providers 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 CNA Hiscox | |
The Hartford Liberty Mutual Chubb | |
Liberty Mutual Chubb The Hartford | |
The Hartford Liberty Mutual Hiscox | |
The Hartford Acuity Liberty Mutual |
Best carriers for bundling commercial property insurance
Many insurance companies offer opportunities to bundle commercial property insurance with other small business insurance products, often at a lower price than buying them separately.
The most popular choice for small businesses is a business owner's policy, which combines commercial property insurance with general liability insurance. Most small, low-risk businesses are eligible for a BOP.
Another option is a commercial package policy (CPP), which is designed for small and midsize 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
The Hartford includes business income insurance in its business owner's policy, which most other carriers don't automatically include. 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
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
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
- Employment practices liability
- Electronic data liability
- Equipment breakdown
- Professional liability insurance, for certain professions
Chubb offers a variety of insurance bundles, including a commercial package policy. The company is renowned for providing top-of-the-line customer support, especially during the claims process.
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 rent 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. Even 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?
With Insureon, it's easy to buy commercial property insurance and other policies for your small business. Instead of contacting insurance providers on your own, you can fill out our online application to get quotes from the nation's best providers for your coverage needs.
Our expert insurance agents can help you find affordable insurance solutions that match your unique risks. They'll help you choose the right limits and endorsements, and find cost-saving packages that include everything you need.
Most small business owners can get same-day coverage and easily download a certificate of insurance (COI) as soon as they purchase their policy.
The figures on this page are the median cost of policies purchased by 100,000 of Insureon's customers. The median offers a better estimate of what your business is likely to pay because it excludes high and low outliers. Most of our customers have five years or less in business, fewer than five employees, and annual revenue ranging from around $50,000 to more than $200,000.
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