Next Insurance is a very recent entrant into the insurance industry. It provides a straightforward approach for proprietors of smaller enterprises to secure necessary commercial insurance. It’s adaptable to the specifics of any number of fields, including building and construction, childcare, and physical education.
Next stands apart from the crowd since it provides much more than just an insurance policy. They are dedicated to their goal.
If you’re looking for business insurance, you should check out their website because it’s quite detailed and easy to navigate. Applying for an INSTANT QUOTE is as simple as clicking a button on the homepage.
Next business insurance products
Different packages from Next Insurance are available, with discounts of up to 10% off the total price.
Business owner’s policy
General liability and commercial property insurance are the backbones of their business owner’s policy.
A business owner’s policy is recommended for any small company in need of:
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Discounted rates for multiple policies.
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Customized coverage tailored to your specific industry.
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A single source for insurance claims.
Companies who stand to gain the most from this have all of the following characteristics:
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A physical business location.
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Inventory that can be vandalized or stolen.
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A customer-facing presence.
General liability insurance
When you or your business are found legally responsible for another party’s injuries, medical bills, or property damage, general liability insurance (sometimes called commercial liability insurance) may protect you from having to pay for those costs out of pocket. This item is available from Next Insurance as standalone insurance or as part of a BOP.
Injuries sustained by employees, accidents involving company vehicles, or malicious acts against a company are typically not covered by general liability plans.
Commercial property insurance
You should get business insurance to cover the building in case something happens to your company.
Depending on the circumstances and the policy, commercial property coverage may extend to include the insured party’s reasonable use of another party’s property. However, commercial property insurance typically does not cover damage caused by earthquakes or other types of natural catastrophes.
Next’s BOP also features commercial property insurance as an optional add-on. It’s great that it’s available both in bundles and separately.
Business income insurance
Business income insurance, also known as business interruption insurance, is typically included in a business owner’s policy and is offered by many different insurance providers. However, Next also provides a distinct product called business income insurance.
When your company’s operations are disrupted by forces beyond your control, business income can help keep your money and assets safe. If your firm suffers financial losses as a result of an interruption in operations, you may be able to collect compensation for things like lost profits, wages, taxes, and other short-term expenses through insurance.
Workersβ compensation insurance
Many states mandate that businesses with employees, including independent contractors, have workers’ compensation insurance. When employees sustain work-related injuries or illnesses, workers’ compensation can help cover the costs of medical care, time off work, funeral expenses, survivor benefits, and permanent disability.
In fact, business owners who are also self-employed can use the money they make from their employees’ presentations to pay for medical expenses that aren’t covered by their insurance.
Workers’ compensation insurance from Next Insurance costs as little as $14 per month and can be combined with other policies to save even more.
Professional liability insurance
This policy safeguards you against allegations that your advice or service negatively impacted a client. Allegations of wrongdoing in business or poor financial management, together with other allegations such as negligence, may be included.
Errors and omissions (E&O) insurance is a subset of professional liability insurance that Next Insurance combines with. Insurance firms may offer professional liability coverage either in conjunction with or as a separate product from their general liability policies. To help you decide which service is best for your company, Next provides an online quote tool.
Tools and equipment insurance
Technical or precious equipment can be difficult to replace, thus this insurance provides peace of mind. When you need backups or repairs on your tools and equipment, having insurance can help keep your business running smoothly.
This coverage is an optional supplement to Next’s general liability insurance for businesses including cleaning services and construction companies.
Commercial auto insurance
Similar to a standard auto policy, commercial vehicle insurance can include up to five different types of coverage.
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Liability insurance.
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Medical coverage.
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Comprehensive insurance.
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Collision coverage.
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Uninsured or underinsured motorist coverage.
In the event that you or your drivers are involved in an accident that causes physical hurt or property damage to others, commercial vehicle insurance will cover the costs.
The commercial car policy can be expanded to include hired and nonowner auto coverage for businesses that use rental vehicles for company work. Because standard auto insurance policies only cover vehicles you own, you and your employees need rental car insurance in the event of an accident.
How to get a Next business insurance policy
Next offers business owners the option of applying for coverage online or, for those who prefer to work with a live person, providing assistance over the phone at 855-222-5919.
In the event of an emergency, business owners can obtain a certificate of insurance in a matter of seconds by signing up online.
You should have the following ready before beginning your online application for Next, since you may be required to upload digital copies of certain business documents:
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Basic information about your business, including your annual sales receipts.
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Where applicable, construction details on any buildings you own including age, material, and square footage.
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The number of workers you employ, as well as their employment information.
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For commercial auto or fleet insurance, you will need to list your vehicle types, VIN numbers, and the names of any drivers.
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Details on any prior insurance claim your company may have made.
Should you purchase Next business insurance?
Businesses that are fully committed to the digital realm will feel right at home with Next Insurance. You can submit insurance claims either through the company’s online customer portal or over the phone, and the company offers convenient online service and support.
The straightforward application and account management should sway even the most traditional of business owners.
Next Business Insurance Review 2024