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Best Ecommerce Insurance Companies in 2024

Author: Jason Morrison | July 7, 2023

Edited by: Jason Morrison and Reviewed: Jason Morrison

Online shopping is booming, with more customers turning to ecommerce stores to purchase the products and services they need every year. According to market research provider Statista, ecommerce sales are projected to grow by 509.4 billion dollars between 2023 and 2027. To compete in the digital marketplace, online entrepreneurs must provide quality products and top-notch customer service and ensure they protect their businesses from costly accidents or disasters. There are several ecommerce insurance companies to choose from, but we’ve rounded up the best of the best so that you can choose the right plan for your ecommerce store.

Business insurance for ecommerce can offer protection for companies of any size and often includes coverage for liability claims, property damage, and cyber attacks. This article will take you through the best insurance for online businesses in 2024, describe the pros and cons of each, and explain how to get coverage.

  • Hiscox: Best for Cyber Security Insurance
  • Nationwide: Best Full-Service Insurance Provider
  • The Hartford: Best for Home-Based Businesses
  • CNA: Best for Business Owner’s Policy (BOP)
  • GEICO: Best for Healthcare Professionals
  • Progressive: Best for Transparent Pricing
  • State Farm: Best for Businesses That Need Banking and Investment Services
  • Next: Best for Amazon Sellers
  • biBERK: Best for Professional Liability Insurance
  • Allstate: Best for Managing Ecommerce Insurance Costs
  • Gallagher: Best for Comparing Providers
  • Travelers: Best for Risk Management Solutions
  • USAA: Best for Military and Veterans

Ecommerce Insurance Companies Comparison Table

How to Get CoverageBOPOnline Policyholder AccountAM Best Rating
HiscoxOnline or via phone✔️A
NationwideOnline or via phone✔️✔️A+
The HartfordOnline or via phone✔️✔️NA
CNAThrough a local agent✔️NA
GEICOOnline or via phone✔️✔️A++
ProgressiveOnline or via phone✔️✔️A+
State FarmThrough a local agent✔️✔️A
NextOnline✔️✔️A-
biBERKOnline, or via phone or email✔️A++ (Berkshire Hathaway rating)
AllstateOnline, via phone, or through a local agent✔️✔️A+
GallagherOnline✔️✔️NA
TravelersThrough a local agent✔️✔️A++
USAAOnline✔️✔️A++

Best Ecommerce Insurance Companies 

The best ecommerce insurance companies provide a range of property and liability coverage options. Insurance for an ecommerce business can help pay for employees’ medical costs if they are injured while working, third party medical or property damage expenses, defending lawsuits, and costs associated with cyberattacks.

Depending on your individual needs, insurance for an online business can include the following policies: 

General liability: Covers bodily injury, property damage, and defending lawsuits.

Product liability: Can help pay for injuries or property damage caused by a defective product.

Professional liability: Helps pay for defending lawsuits if you made a professional mistake that caused damages to a third party.

Commercial property: Protects your brick-and-mortar storefront, inventory, storage space, business equipment, and tools.

Workers’ compensation: Helps cover employees’ workplace injury expenses.

Transit: Covers inventory while it is in transit.

Cyber: Covers data breaches, cyber attacks, and damages from defective hardware.

Business interruption: This policy can protect you from loss of income from covered incidents such as fires, storms, or theft. 

Business Owners Policy (BOP): A BOP combines policies, such as liability and property coverage, and often offers them at a discount.

Hiscox: Best for Cyber Security Insurance

Benefits

Hiscox has been around since 1901 and provides customized (and instant) coverage options, including general liability, errors and omissions (professional liability), cyber security, workers’ comp, and BOP insurance. Hiscox’s cyber security insurance can cover phishing scams, ransomware demands, defending lawsuits related to cyber security issues, data breach recovery expenses, and revenue lost due to technological failure. In addition, Hiscox’s CyberClear Academy provides training to the employees of cyber insurance policyholders to ensure that they know how to prevent online security incidents. 

Pros

  • Ability to make monthly payments with no additional fees
  • Certificate of Insurance (COI) available online
  • Offers umbrella insurance to protect your business from large claims

Cons

  • No online accounts for policyholders

How to Get Coverage

You can get a quote online, or call 1-877-378-0885 (speech or hearing impaired customers can dial 7-1-1).

Nationwide: Best Full-Service Insurance Provider

Benefits

Nationwide provides a complete array of business insurance options (including BOP, business property, general liability, professional liability, workers’ comp, and cyber policies), as well as vehicle, property, and personal insurance. 

Pros

  • Nationwide’s Loss Control Services team helps policyholders review their business operations to identify and mitigate risks 
  • Provides coverage for businesses of all sizes
  • 24/7 claims service

Cons

  • Nationwide’s BOP insurance is not suitable for businesses with more than 100 employees or $5 million in sales

How to Get Coverage

You can call 855-224-9869, or fill out a form for an online quote. 

The Hartford: Best for Home-Based Businesses

Benefits

The Hartford offers business insurance specifically for home-based businesses. While homeowners insurance can help cover your home and personal items, business insurance may be necessary to provide complete protection for technology, business files, and equipment, and to defend lawsuits against your ecommerce business. The Hartford offers business insurance for home-based businesses of all sizes, and its policies include general liability insurance and a customizable BOP to which you can add endorsements (policy modifications) as needed. 

Pros

  • The Hartford’s website explains insurance in a way that is easy to understand
  • Can talk to live agents via its online chat service
  • Ability to pay your business policy premium or start a claim online without logging in

Cons

  • No financial strength rating from AM Best

How to Get Coverage

Call 855-901-9187 or start a quote online on Hartford.

CNA: Best for BOP

Benefits

CNA offers several business insurance policies, including general and professional liability, property, cyber, and workers’ comp coverage. It provides two different BOPs: CNA Connect and CNA Paramount. CNA Connect is designed for small businesses and includes property and general liability coverage. It offers over 300 endorsements which you can use to customize your plan. CNA Paramount includes property, crime, and umbrella liability (extra coverage for large claims) policies, as well as general liability extension endorsements, which are tailored to your specific industry. 

Pros

  • Direct online billing portal, or you can sign up for autopay
  • Risk management tools available for policyholders, including perception surveys, benchmark checkpoints, data gap analysis, and risk and virtual ergonomic assessments 
  • Customizable BOPs for small and mid-sized businesses

Cons

  • The website’s drop-down menu can be distracting and laggy

How to Get Coverage

You can use CNA’s agent locator or agent matching tools to connect with a local agent. Get the quote from CNA.

GEICO: Best for Healthcare Professionals 

Benefits

Whether you are a yoga instructor offering an online course or a physical therapist selling digital exercise plans, health professionals with ecommerce stores have special business insurance needs. GEICO partners with Berxi (part of Berkshire Hathaway Specialty Insurance) to provide medical malpractice insurance designed to protect medical professionals against claims of negligence or malpractice.

Pros

  • Online business insurance calculator tool can help determine the right coverage for your business
  • GEICO offers a full range of insurance products, including vehicle, property, umbrella, life, and pet coverage
  • GEICO’s website includes a glossary that defines common insurance terms

Cons

  • The online quote tool may not be able to process your information

How to Get Coverage

You can call GEICO at 1-866-509-9444 or start a quote online (you may have to call an agent to get coverage). 

Progressive: Best for Transparent Pricing

Benefits

Progressive offers many policies that ecommerce businesses need, including BOP, general and professional liability, workers’ comp, and cyber insurance. While insurance pricing can be tricky due to the variety of factors that help determine a businesses’ unique coverage needs, Progressive provides potential customers with both the median and average costs for each of its business insurance policies.

Pros

  • 24/7 customer support
  • Offers business insurance in 49 states
  • Lists the types of insurance available in and required by each state it insures, and provides links to resources for business owners in each of those states

Cons

  • If you use Progressive’s online quote form, it may direct you to fill out another form or call a third-party insurance company to get coverage

How to Get Coverage

Call 1-855-640-9311 or fill out Progressive’s online quote form

State Farm: Best for Businesses That Need Banking and Investment Services

Benefits

State Farm offers BOP, liability umbrella, workers’ comp insurance, and banking and investment options. Ecommerce companies that require checking or savings accounts, business loans, or retirement plans for owners or employees can benefit from State Farm’s business banking and investment services.

Pros

  • Ability to pay a bill or get a COI without having to log in
  • Insures over 300 professions
  • BOP includes general liability, property insurance, loss of income, equipment breakdown, and a professional liability coverage option

Cons

  • Online chat requires an agent to contact you to get answers to specific questions

How to Get Coverage

The only way to get coverage through State Farm is to find a local agent through its agent locator tool. 

Next: Best for Amazon Sellers

Benefits

Next specializes in small business insurance, and offers general liability, commercial property, and commercial auto policies that entrepreneurs that sell on Amazon may need. Amazon requires its Pro Merchant vendors with gross sales of $10,000 or more to have general liability insurance. 

Pros

  • Next provides a 10% discount to Amazon sellers that bundle two or more policies
  • Attractive and easy-to-navigate website
  • Claims decisions within 48 hours

Cons

  • Chat support may be delayed depending on your queue position

How to Get Coverage

Next’s online quote process is quick and easy, and you can purchase coverage once you have submitted your business information.

biBERK: Best for Professional Liability Insurance

Benefits

biBerk provides all of the insurance policies most ecommerce businesses would need, including general and professional liability, workers’ comp, BOP, commercial auto, umbrella, and cyber coverage. Ecommerce businesses that provide advice or expertise should have professional liability insurance in case they get sued for making a mistake or giving inaccurate information that harms their customers. You can save up to 20% over other providers when you purchase professional liability insurance from biBerk.  

Pros

  • Fast and easy online quote process
  • Insures over 200,000 small businesses
  • Able to get a COI either online or over the phone

Cons

  • Policies not available in all states

How to Get Coverage

You can get a quote and purchase coverage online, call 1-844-492-0967, or email experts@biberk.com

Allstate: Best for Managing Ecommerce Insurance Costs

Benefits

Allstate provides essential coverage for ecommerce stores, including BOP, liability, property, business interruption, and equipment breakdown coverage. Its website contains tips for reducing your business insurance costs, such as regularly reviewing your policies, bundling policies, and increasing your deductibles, as well as information to help you figure out the kinds of coverage your individual business needs. 

Pros

  • Provides information on disaster and business succession planning
  • Offers vehicle, property, life, identity, phone, pet, and personal umbrella insurance
  • Provides home, renters, and condo insurance for home-based businesses

Cons

  • The business quote tool is not linked to a conspicuous button 

How to Get Coverage

To get coverage through Allstate, you can fill out an online quote form, use its agent locator tool, or call 1-800-837-6510. If Allstate can’t provide coverage, it will redirect you to third-party ecommerce insurance companies.

Gallagher: Best for Comparing Providers

Benefits

Gallagher is an insurance brokerage that works with multiple ecommerce insurance companies, meaning that it can help you compare prices and services between several different providers to find the best fit for your business. Gallagher offers a full range of business insurance policies suitable for ecommerce businesses, including property, liability, workers’ comp, cyber, and commercial umbrella coverage.

Pros

  • Recognized as one of the “World’s Most Ethical Companies” by the Ethisphere Institute, a company that rates ethical business practices
  • Gallagher Perks provides policyholders with business and travel discounts
  • Gallagher’s Small Business Expertise page contains information about managing, scaling, and protecting your business

Cons

  • Have to wait for a callback from a representative once you fill out the online quote form

How to Get Coverage

You can fill out an online quote form and then wait for an agent to contact you. You can also call 833-292-9441 with any questions.

Travelers: Best for Risk Management Solutions

Benefits

Travelers offers property, liability, cyber, and BOP coverage for ecommerce businesses. It also provides comprehensive risk control solutions to its policyholders, including training programs, self-assessments, action plans, and a library of risk management resources.

Pros

  • Industry-specific coverage
  • Online bill pay, claim reports, policy info, and COI access
  • Over 1,000 risk control tools available for policyholders

Cons

  • The only way to get answers to policy service questions is through a local agent

How to Get Coverage

You can get coverage from Travelers via a local insurance agent. 

USAA: Best for Military and Veterans

Benefits

USAA offers U.S. military members (and their families) insurance products and discounts on services from car rentals and travel deals to shopping and storage. Its business insurance policies include general, professional, and cyber liability, BOP, and workers’ comp. 

Pros

  • USAA offers advice about military life on its website, including deployment and military pay calculators
  • USAA’s Business Resource Center provides members with pre-employment screening reports and links to tax and shipping services
  • Members can receive discounts on daily business expenses and professional security systems for their businesses

Cons

  • Membership only available to military

How to Get Coverage

To get coverage with USAA, you first need to create a free account. You can then use its online quote tool to create a business profile and get a quote.

Methodology

We chose ecommerce insurance companies with features that ecommerce businesses need, including high AM Best (a financial rating agency) financial strength ratings (ratings based on insurance providers’ creditworthiness), online accessibility, multiple coverage options, discounts for bundled policies, and exceptional customer service.

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