Insurance321 is an insurance marketplace that searches the marketplace to help you find the right coverage for the best price. Read on to learn pros, cons, pricing, and more.

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Insurance321 2024 Review

Kimberlee Leonard

Insurance and Financial Services Professional

Insurance321 screen shot

What is Insurance321 Insurance?

Insurance321 is an insurance marketplace that uses technology offered through its LaunchPad that searches the marketplace to help you find the right coverage for the best price. Their technology uses information about your company to match you with the provider that best fits your needs.

Key Features of Insurance321 Insurance

When buying small business insurance through Insurance321, there are some key features to look out for that make them a great option. These key features include:

  • LaunchPad: This is the foundation of their platform that takes in your information and then scans the market for a provider that meets your needs.
  • Secure Match Process: Your information remains secure throughout the process of buying insurance.
  • Knowledgeable call center: They have a great sales and support team available to answer any questions that you have.
  • **Fast process: **Insurance321 expedites the shopping process. You no longer need to call a dozen companies to get a quote. The system does this for you in a matter of minutes.

Policy Exclusions

Policy exclusions are something that each carrier will have noted on their policy. Because Insurance321 is not a carrier and isn’t underwriting the policies themselves, they don’t list any exclusions on the policy. Small business owners will need to read the policy from the carrier they get a policy to understand the exclusions that pertain to it.

On-Demand Policy Modifications

Riders and other on-demand policy modifications can be made with specific carriers. Once again, because Insurance321 is a marketplace, it isn’t offering any policy modifications itself. Small business owners will need to work with carriers to determine if any riders are available for the policy.

Filing a Claim

Once a policy is underwritten, the insurance carrier takes over the servicing of the policy. This means that all claims are filed directly with the carrier. The carrier’s information is listed on the policy declarations page. For a claim, call the carrier and provide the pertinent information related to the incident. The carrier will assign a claims representative to the case and you will work directly with them to get the claim paid and the damages fixed.

Get Instant Coverage

When you request a quote, you’ll be paired with a representative who will call to confirm your business details. If you need coverage immediately, call (234) 230-6321 to get a quote and save some time.

How to get a Insurance321 business insurance policy

You can get a policy from Insurance321 by completing the quote process and following up with a representative. Remember that the policy is not issued by Insurance321, but is instead issued by the carrier that you choose to buy the insurance from.

Eligible Businesses

Because Insurance321 is a marketplace working with many carriers, it is able to place insurance for a lot of different types of industries. Common business types looking to get insurance from Insurance321 include:

  • Building contractors
  • Roofers
  • Food truck and caterers
  • IT contractors
  • Salon, spa, and barber shop
  • Religious organizations
  • Plumbing and HVAC contractors
  • Accountants and bookkeepers
  • Landscaping and lawn care
  • Electrical and wiring contractors
  • Tow trucks
  • Restaurant and bar
  • Real estate agents

Insurance321 can also place policies in these other industries:

  • Photography and camera equipment
  • Manufacturing
  • Food liability
  • Excavation
  • Daycare
  • Masonry contractors
  • Handyman
  • Cleaning and janitorial services
  • Commercial construction
  • Media and design
  • Insurance agents
  • Film production
  • Hotel
  • Framing contractors
  • Carpenters
  • Architects
  • more

Insurance Discounts

Discounts would be carrier-specific and not something that Insurance321 offers. When getting a policy, it is best to check with the carrier if there are any discounts that apply to your policy. Common discounts include bundling and security systems discounts.

Insurance Cancellation

When canceling a policy that you got through Insurance321, you will contact the carrier that the policy is underwritten by. Simply call the customer service number on the declarations page to cancel the policy. You will receive any unearned premium from the policy based on the date of cancellation.

Insurance321 business insurance products

Insurance321 offers a wide range of small business insurance policies. Here are some of the most common policies business owners get.

Business owner's policy

A business owner’s policy (BOP) is a policy that combines general liability and commercial property into one policy. Because it is underwritten once, it has less costs for the insurance company to incur and thus is priced more competitively than if a business owner were to get two policies.

General liability insurance

General liability insurance pays third-party claims where someone alleges that your business is responsible for their injuries or property damages. This is most often referred to as “slip and fall coverage” and protects small business owners from some of the costliest claims that can happen.

Commercial property insurance

Commercial property insurance is a business insurance policy that pays to repair or replace items owned by the business. Items include office furniture, electronics, supplies, tools, equipment, and materials.

Business income insurance

When your business is shut down due to a covered incident, business income insurance pays what your business would have earned had it remained open. This is to protect the business from experiencing financial hardships of bills still being due even though the business is closed due to a claim.

Workers' compensation insurance

This insurance is required in most states if you have at least one part-time employee. It pays for the medical expenses and lost wages of employees who are hurt on the job.

Professional liability insurance

Professional liability insurance is a policy that pays for claims that allege that you did not fulfill your professional duties. Often, this is giving inaccurate advice or making a professional mistake.

Tools and equipment insurance

This is a contractor's policy that pays to replace or repair tools and equipment that gets lost or damaged in a claim. Items may be stolen or otherwise damaged by an incident such as a fire. Most contractors tools and equipment policies require that the tools be less than five years old.

Commercial Auto Insurance

Commercial auto insurance is a policy that protects the business if a commercial vehicle is in an at fault accident and there is liability in it. It pays for the damage to other property as well as injuries to people injured in the accident. You may also elect to cover the vehicle itself with comprehensive and collision coverage the same way you do in personal auto insurance.

Pros of Insurance321 Business Insurance

  • Insurance marketplace: You aren’t stuck with one carrier’s quote. Insurance321 is a marketplace that searches for the best price for a great policy.
  • Easy quote process: It takes just a few minutes to enter the pertinent information to get a quote from Insurance321.
  • Great rates: With small businesses saving an average of 29% on insurance, Insurance321 delivers on the promise to get you the best policy for the best price.

Cons of Insurance321 Business Insurance

  • Small company: The company says it has served 50,000 businesses which feels like a small sample size compared to the offerings of major brokerages.
  • Not a carrier itself: While being a marketplace has its benefits, it does have a downside. Small business owners don’t get a policy from Insurance321 but instead, buy from one of their offered carriers.

Cost of Insurance321 Business Insurance

The cost of insurance from Insurance321 varies widely. Costs will depend on the carrier chosen as well as the type of insurance, location, revenues, and number of employees that you have. Insurance321 advertises real rates that customers have gotten and show a general liability policy in Georgia for $502 for a landscaping company. This was more than $1,900 less than the competitive quotes.

Best Alternatives to Insurance321 Business Insurance

If you’re looking for alternatives to Insurance321, you can check out these common competitors. is another marketplace that you can use to shop for the best rate among multiple carriers. The company offers a multitude of policy types that includes general liability, worker’s compensation, commercial auto, and BOPs. They have major partners that include The Hartford, Liberty Mutual, Progressive, and Gallagher.


Thimble offers several types of small business insurance that include general liability, omissions insurance, and business equipment insurance. What sets Thimble apart is that they offer on-demand policies that contractors or freelancers can use to have insurance for specific projects or gigs. Policies can be written for time frames as short as an hour.


Hiscox is a leader in small business insurance. They focus on the small business contractor, making policies affordable and accessible. The company has more than 100 years of small business insurance experience, bringing a wealth of knowledge to help small business owners mitigate common risks.

Next Insurance

Next Insurance provides small business insurance to a wealth of professionals and service providers. They have a wide appetite for independent contractors who need coverage for an affordable price. Typical clients include professionals such as general contractors to personal trainers.


CoverWallet is an insurance online platform that partners with industry leaders to offer small businesses quality policy options. Some of their partners include Chubbs, CNA, Employers, and Berkshire Hathaway.

What Sets Insurance321 Insurance Apart?

Insurance321 sets itself apart because it offers insurance from many partner providers. It’s able to shop policies for you so that you don’t have to take the time and do the work to get multiple quotes. This saves business owners time and money.

Insurance321 vs. Competitors

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

Who Shouldn't Use Insurance321?

Because Insurance321 works with so many insurance providers, it's hard to say who this company isn’t for. You’ll get the best price quote possible with little time and energy expended. About the only business owners this doesn’t work for are freelancers or independent contractors seeking limited coverage that lasts a few hours or days for a specific project. Other than that, Insurance321 can find a solution for just about any small business.

My Experience Researching Insurance321


To start the quote process, you’ll be asked to choose how you want to shop: by industry or by coverage type. We selected coverage.


A drop-down menu appears that allows you to scroll for the type of insurance policy you want to get. We chose General Liability Insurance.


You are then asked for a bit of information about your company. You can skip this if you want, though you’ll need to give the information to the representative when they call to quote you.


Contact information is required to get a quote.


The system takes your information and then puts it into a queue for a representative to call you. You can call them to get immediate assistance.

Summary / Should you purchase Insurance321 business insurance?

Insurance321 is a great platform for small business owners to use to find the right business insurance policy for the best price. It has an extensive list of partner providers, making it a leader in helping you find a quality insurance company to work with. Because the marketplace is so vast, it is a great platform to use if you have a difficult-to-insure company that either serves a high-risk industry or has a lot of claims on its record.


When looking at small business insurance carriers, we want to know that our customers are working with the best. This is why we search for carriers that have high AM Best ratings or marketplaces that work with carriers that have those ratings. We review the key features of the provider and look at how costs are derived. The quote process is essential to a good customer experience, which is why we go through the process to test the efficiency of the system.

Frequently Asked Questions

What rating does Insurance321 have?

Insurance321 doesn’t have a rating because it is not an insurance provider. It works with providers who all have different ratings.

Who is Insurance321 owned by?

Insurance321 is privately owned and does not disclose who its owners are.

Is Insurance321 a legit company?

Insurance321 is a legitimate company that helps small business owners find the right type of insurance for a reasonable rate.

What is professional liability insurance coverage?

Professional liability insurance coverage is an insurance policy that provides protection against claims stating that you didn’t perform your job to professional standards.

Is Insurance321 an MGA?

Insurance321 is not a managing general agent (MGA).

Does Insurance321 have an App?

Insurance321 does not currently have an App.

What are the four types of business insurance?

The four most common types of business insurance are general liability, professional liability, workers’ compensation, and commercial auto insurance.

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

Business income or business interruption insurance pays business owners when a business is closed for a claim. The amount paid is for lost revenues that the company would have earned had it been opened.

Do I need business insurance for a sole proprietorship?

Even a sole proprietorship has risks of loss. A business insurance policy can protect the sole proprietor's assets if a claim is made against them.

Why is it important to review claims before submission?

To expedite the claims process, you should review the claim to make sure that all pertinent data is accurate and complete.

What is error and omission insurance?

Errors and omissions insurance is another name for professional liability insurance that covers you for making mistakes in your professional services.

Why is it important to review your insurance?

You want to review your insurance to ensure that you understand what is covered and what isn’t. Read through to find exclusions of the policy. You also want to make sure that you get all applicable discounts for your company.

Why is it important to do an insurance policy review?

Doing an annual review helps ensure that your policy fully protects your business. Things change, especially with a growing business. You may have more liabilities, more commercial property, or more employees that all need coverage.

What is product liability insurance?

Product liability insurance is coverage that protects you if someone is injured or there is property damage resulting from a product you made or sold.

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