There are more than 132,000 small businesses in Hawaii, employing more than 275,000 employees. The top 3 industries for small businesses are accommodation and food services, healthcare, and constructions. Small businesses face a lot of risks and challenges. Some can be mitigated by the right business insurance policies. General liability insurance is the most popular coverage that almost all small business should have. It protects Hawaii small businesses from lawsuits related to bodily injuries and property damages for the third party that happens in your work locations.
We explain in more details why Hawaii small businesses need to have general liability insurance and recommend the top 5 companies for your consideration.
- The 5 best general insurance companies in Hawaii
- What does general liability insurance cover in Hawaii?
- Why small businesses in Hawaii should get general liability insurance?
- How much does general liability insurance cost in Hawaii?
- What affects how much I will pay for general liability insurance in Hawaii?
- How to find cheap general liability insurance in Hawaii?
The 5 best general insurance companies in Hawaii
There are several companies offering general liability insurance in Hawaii. However, some companies stand out due to the quality of services they provide. Below are the best 5 general liability insurance companies in Hawaii.
- Simply Business: Best for finding low-cost coverage
- CoverWallet – Best for comparing quotes
- NEXT – Best for the entire online experience
- Nationwide – Best for small businesses who want to combine small business insurance with personal insurance needs with one provider
- Hiscox– Best for an easy online quote from a reputable carrier
Simply Business– Best for finding low-cost coverage
Simply Business is a digital brokerage firm specializing in serving small businesses. What sets them apart is that they partner with several reputable carriers that have solid financial strength ratings and tend to offer low-cost coverage. That makes it easy for you to find the cheapest general liability insurance quotes with them.
After submitting your information, Simply Business will provide several quotes from partners that they work with. Many of their carrier partners may not be well-known, but offer great affordable quotes that you wouldn’t be able to access otherwise.
Getting and comparing several quotes online is fast and simple. Within 10 minutes you will find the cheapest one for you.
Simply Business also has a great customer satisfaction rating on trustpilot.
CoverWallet – Best for comparing quotes
CoverWallet is one of the best five general insurance companies in Hawaii. It was established in 2015 and has gained the attraction of several people in the United States.
You can save time and effort sorting through hard copies, digital documents, and emails with CoverWallet. All of these things can be entered and handled with just one program. Organizing will be easier, and many stages will be automated.
They aggregate quotations from their partner companies on your behalf and give you a few options to choose from. The one catch is that you might not get quotes from companies with whom they aren’t affiliated.
Here is a quote from CoverWallet insurance for a small cleaning business located in Honolulu with three full-time employees.
NEXT – Best for the entire online experience
Next insurance is a newer company, they were founded in 2015 as an insurance technology company. Initially they only offered general liability insurance to contractors, and have gradually expanded to offer other coverages to small businesses in other industries.
Next insurance is unique with its tech-enabled platform that helps customers get quotes with ease and purchase insurance policies directly on the platform.
Another benefit of working with Next insurance is that the company offers good discounts when you pick several policies and allow you to complete your payment every month.
Here is a quote from NEXT insurance for a small cleaning business located in Honolulu with three full-time employees.
Nationwide – Best for small businesses that want to combine personal and business coverages
Established in 1926, Nationwide is one of the leading small business insurance providers in Hawaii. They are also one of the leading providers of personal insurance lines.
If you are a small business in Hawaii and want to combine your small business insurance policies with your personal insurance policies, Nationwide is a solid option. In addition to general liability insurance, they also offer other small business insurance overages such as professional liability and commercial auto insurance. You can buy all of your insurance needs from one reputable provider.
Hiscox- Best for an easy online quote from a reputable carrier
Hiscox is a one of the biggest small business insurance providers in the world. They have been around for more than 100 years. They are the pioneer in offering small business insurance online. It is very easy and fast to get a quote online from Hiscox. You can buy the policy online with them and mange the policy completely online.
Hiscox mostly offers general liability insurance, BOP, and professional liability to a wide range of industries popular among the small businesses in Hawaii.
For the same cleaning business in Hawaii, we get a quote from Hiscox below. It actually turns out to be the cheapest quote among the three companies.
What does general liability insurance cover in Hawaii?
General liability insurance is designed to protect Hawaii business owners from lawsuits related to bodily injuries and property damages to their customers or any third party at their work locations.
Hawaii general liability insurance should include the 4 main coverages: third-party bodily injuries and property damages, product liability, and advertising injuries.
What doesn’t general liability insurance cover in Hawaii?
Although general insurance provides cover for several things, the major exclusions are as follows
- Bodily injury or property damage arising from use of any auto owned or operated by or rented/loaned to any insured.
- Aircraft, airfields, runways, hangars and other properties in connection with aviation activities.
- Workers compensation, unemployment and disability law obligations
- Damage to state owned property.
- Any liability under ERISA (employee retirement income security act) or similar statutes.
Why small businesses in Hawaii should get general liability insurance?
General insurance is vital to the success of small businesses in Hawaii because it offers benefits like;
- Increases the reputation of a company as most clients would prefer to work with companies that have general liability coverage. Many clients actually require it.
- It may be required in Hawaii for some small business industries such as construction.
- A reasonable way to protect small businesses from getting bankrupt due to just a lawsuit.
How much does general liability insurance cost in Hawaii?
A typical Hawaiian small business can expect to pay its general liability insurance anywhere from $ 300 to $ 5,000 a year. The final liability insurance costs from one company to the next will vary significantly based on the SIC code or the insurer’s own rating classification system, or many other factors.
If you are looking to buy general liability insurance in Hawaii, make sure to compare several quotes to find the cheapest one for your business.
What affects how much I will pay for general liability insurance in Hawaii?
The Hawaii general liability insurance cost depends on the following factors:
- The industry your business is in
- The size of your business
- Annual revenue
- Coverage limits
How to find cheap general liability insurance in Hawaii?
Getting a general insurance policy in Hawaii at a affordable rate is possible if you follow the tips below:
- Make sure you compare several quotes before making your final decision
- Make sure you have the right coverage limits for the policy. The higher the coverage limits, the more expensive it is
- Have the right deductibles
- Make sure you establish all safety standards and best practices at your work locations
Learn more at the cheapest general liability insurance companies.