CommercialInsurance.net

CommercialInsurance.net is a business insurance marketplace that connects small business owners with the right insurance carrier. Read on to learn about the service.

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CommercialInsurance.net 2022 Review

Kimberlee Leonard

Insurance and Financial Services Professional


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What is CommercialInsurance.net Insurance?

CommercialInsurance.net is a popular business insurance marketplace that helps small business owners find the right insurance carrier to place their business with. Because they do an intake and customer profile, the introduction to the carrier is warm, where you are already pre-qualified.

Key Features of CommercialInsurance.net Insurance

If you are considering working with CommercialInsurance.net, you should be aware of its key features. Here are some of the high points:

  • Flexible targeting: Because CommercialInsurance.net works with such great partners, it is able to be flexible with how it connects a new business owner with a specific carrier.
  • Warm transfer call process: Before you are paired with an insurance carrier, your company profile is obtained, so the representative knows the best partner to refer you to.
  • Knowledge base: CommercialInsurance.net has an extensive knowledge base for small business owners to learn more about how business insurance works specifically for their industry.** **

Policy Exclusions

Every insurance policy has its own set of exclusions. For example, general liability insurance won’t cover injuries to employees. You need workers’ compensation insurance for that, which would exclude injuries to third parties hurt on-premises. Because CommercialInsurance.net is a marketplace, the insurance carrier would outline the specific exclusions of each policy. Check the policy for details about what is covered and what exclusions exist.

On-Demand Policy Modifications

Just as policy exclusions are subject to each carrier’s policy terms, so are on-demand modifications such as riders. When completing your profile, ask the representative about what riders you may be interested in so that they can pair you best with the right carrier that offers them.

Filing a Claim

Small business owners will file a claim directly with the carrier and not CommericalInsurance.net. Going directly to the carrier simplifies the process and expedites it so that you get the attention needed quickly and efficiently. Most carriers have a claims phone number or a way to file online.

Get Instant Coverage

The process of getting coverage is quick with CommercialInsurance.net. It takes about five minutes to complete the insurance profile and be transferred to a partner insurance carrier. From there, small business owners can buy insurance immediately. It doesn’t get much easier than that.

How to get a CommercialInsurance.net business insurance policy

Small business owners can get an insurance policy by completing the online or phone intake form. This process takes about five minutes. Once completed, CommercialInsurance.net will introduce you to the insurance carrier representative they found to meet your needs. Since the carrier underwrites policies, they’ll take over the quote process from there, which takes just a few more minutes.

Eligible Businesses

Because CommercialInsurance.net is a marketplace, there isn’t a type of policy that they can’t write. They work with all sorts of businesses in various industries and place tough-to-insure companies with one of their 200 partners based on their ability to underwrite the business.

Insurance Discounts

Insurance discounts would be specific to the carrier, which is why CommercialInsurance.net doesn’t advertise any discounts. Small business owners should ask the representative what discounts they are eligible for. Discounts might include having multiple policies with the carrier or maintaining a security system for the workplace.

Insurance Cancellation

If you need to cancel your business insurance for any reason, call the carrier that you have the policy with. Remember that policies are not underwritten or serviced by CommercialInsurance.net, so you must contact the carrier. Carriers allow you to cancel anytime and will refund you any unearned premium.

CommercialInsurance.net business insurance products

CommericalIInsurance.net is able to place just about any small business owner’s policy with a top-rated carrier. Here are some of the most common policies they help customers with.

Business owner's policy

Small business owners like a business owner’s policy (BOP) because it combines a general liability insurance policy with a commercial property policy. This covers the business for many types of claims, including third-party losses as well as first-party losses due to fire or theft.

General liability insurance

General liability insurance is a type of policy that covers third-party losses of property damage or injury. These are often referred to as slip-and-fall policies because they pay the damages if someone slips on the property and gets hurt. Landlords may require this policy to protect the “property rented” by the small business.

Commercial property insurance

A commercial property insurance policy protects a business’ contents. Contents include things like furniture and equipment, tools, supplies, and inventory. A commercial property insurance policy will pay to replace items damaged or lost due to losses such as fire or theft.

Business income insurance

This type of policy protects a business’s revenues. When a company is closed during a valid claim, the lost revenues can be paid to the business with a business income insurance policy. This coverage is designed to prevent a company from going under due to a claim so that it can continue to pay its overhead and expenses.

Workers' compensation insurance

Workers’ compensation insurance pays when an employee is injured while working. It covers the medical expenses, rehabilitation, and lost wages for the employee while they are hurt and recovering. Workers’ compensation is required in most states once a business has at least one employee.

Professional liability insurance

Professional liability insurance is also known as errors and omissions insurance. It pays claims that allege you didn’t do your job according to professional standards. Malpractice insurance is a common type of professional liability insurance. Part of what the policy pays is the legal defense that may be required to defend you from fallacious claims.

Tools and equipment insurance

Tools and equipment policies are also known as inland marine policies. These policies pay to protect the business owner if there is a loss of tools and equipment while transporting them to and from job sites. Commercial property insurance does not cover these items while in transit, so many businesses also need this type of coverage to protect themself from losses.

Commercial Auto Insurance

A commercial auto insurance policy is an auto insurance policy explicitly underwritten for vehicles used by the business. It pays for damages to other vehicles or injuries to persons that the vehicle has hit. If the business owner elects to have comprehensive and collision coverage, they will also get their vehicle fixed after an at-fault accident or loss such as theft.

Best Alternatives to CommercialInsurance.net Business Insurance

Looking to compare quotes with competitors? Here are some of CommercialInsurance.net’s competitors.

CoverWallet

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CoverWallet is an insurance platform that pairs small business owners with industry leaders. Some of the top partners of CoverWallet include Chubbs, CNA, Employers, and Berkshire Hathaway.

Thimble

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Thimble is a small business insurance provider that specializes in short-term policies. Thimble offers coverage for as short of a term as an hour or a day. They focus on those in the gig economy business owners who may only need insurance for certain periods of time for certain jobs.

Hiscox

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Hiscox is a small business insurance leader with more than 100 years of experience in the business insurance market. They bring their experience to a multitude of industries and focus on small businesses with less than 20 employees.

Next Insurance

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Next Insurance is a newer insurance provider that tailors coverage for independent contractors. This carrier prides itself on providing micro-sized businesses with the coverage they need for a price that they can afford. Their online platform makes getting certificates of insurance a breeze.

Insurance321

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Insurance321 is a small business insurance marketplace that partners with top carriers. Policies are undewritten and serviced by the insurance carrier you are paired with. Insurance321 prides itself on using technology to best connect small business owners with the right carrier.

What Sets CommercialInsurance.net Insurance Apart?

What sets CommercialInsurance.net apart from the competition is its level of partners. It has more than 200 partner carriers, many with the top ratings from AM Best, meaning they are financially solvent and considered the best of the best. When you work with CommercialInsurance.net, you get the professional expertise of their representatives to appropriately pair you with the right insurance carrier.

CommercialInsurance.net vs. Competitors

CommercialInsurance.net CoverWallet Thimble Hiscox Next Insurance321
Marketplace Yes Yes No No No Yes
Quote in 10 minutes Yes Yes Yes Yes Yes Yes
Services policies No Yes Yes Yes Yes No
Per gig policies No No Yes No No No

Who Shouldn't Use CommercialInsurance.net?

Because CommercialInsurance.net is a marketplace that can place just about any policy with a great carrier, there aren’t many businesses that couldn’t benefit from using the service. If a small business owner is looking for a specific insurance carrier, he might prefer to go directly to that carrier; however, since there is no charge for using CommercialIinsurance.net, it still benefits them to see what the marketplace yields in terms of best partners.

My Experience Researching CommercialInsurance.net

quote-commercialinsurance

You start the form by entering your zip code.

quote2-commercialinsurance

Then you provide your telephone number to be connected with a live person who will do an intake questionnaire.

Frequently Asked Questions

What rating does CommercialInsurance.net have?

CommercialInsurance.net is not a carrier and doesn’t have a rating though it works with many A-rated companies.

Who is CommercialInsurance.net owned by?

Mark McLure and Chad Jaquays own CommercialInsurance.net.

Is CommercialInsurance.net a legit company?

CommercialInsurance.net is a legitimate company that provides a service of pairing businesses with insurance carriers.

What is professional liability insurance coverage?

Professional liability insurance coverage is a type of business insurance policy that pays damages where the business didn’t provide professional services.

Is CommercialInsurance.net a MGA?

CommercialInsurance.net is not a managing general agent.

Does CommercialInsurance.net have an App?

CommercialInsurance.net does not have an app for small business owners to use.

What are the four types of business insurance

Four types of business insurance are general liability, commercial property, professional liability, and worker’s compensation.

What type of insurance is sold to small business owners that must meet overhead expenses?

Business income insurance is sold to small business owners to help meet their overhead expenses during a claim.

Do I need business insurance for a sole proprietorship?

Even a sole proprietorship needs insurance because risk doesn’t discriminate against larger businesses. A sole proprietor may still have losses such as slip-and-fall accidents, fires, or theft.

Why is it important to review claims before submission?

A small business owner wants to review claims to make sure all the relevant data is in the claim so that it is processed correctly and quickly.

What is error and omission insurance?

Errors and omissions insurance is a professional liability insurance policy that protects business owners from claims alleging they didn’t perform job duties professionally.

Why is it important to review your insurance?

As your business grows, you want to make sure that your insurance still reflects the risk you have. You may have more equipment to protect or more revenues making you a target for a lawsuit.

Why is it important to do an insurance policy review?

Insurance policy reviews make sure that the coverage matches your business needs. It’s good to review the policy types and the coverages in each policy to make sure they are appropriate for your business.

What is product liability insurance?

Product liability insurance is a policy that pays if a product you made or sold leads to injury or property damage.

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