Find the most competitive insurance plan for your business

To find the most competitive insurance plan in 2025, you must look beyond just the monthly premium. The "most competitive" plan is the one that offers the highest coverage limits for the lowest cost while maintaining a low deductible.

As of late 2025, the market is seeing a 5.3% average increase in commercial rates, but certain areas like Cyber Insurance and Workers' Comp are actually seeing price decreases due to increased competition.

1. Benchmark Your Industry Costs (2025 Averages)

Compare your current quotes against these 2025 median monthly benchmarks to see if you are getting a competitive deal:

Policy TypeAvg. Monthly CostMost Competitive CarrierGeneral Liability$42NEXT or The HartfordBusiness Owner’s (BOP)$57The HartfordProfessional Liability$61Hiscox or Simply BusinessWorkers’ Compensation$45NEXT or biBERKCyber Insurance$145Chubb or Travelers

2. Use "Direct-to-Business" Carriers

To get the most competitive rates, skip the middleman. Carriers like biBERK (a Berkshire Hathaway company) and NEXT Insurance sell directly to you, often cutting out agent commissions which can save you 15% to 25% on premiums.

3. Use Comparison Marketplaces

Instead of visiting ten different websites, use an aggregator that specializes in business-only comparisons. This ensures you are comparing "apples to apples" regarding policy limits.

• Insureon: Best for specialized industries (e.g., IT, Engineering).

• Tivly: Best for getting multiple human agents to compete for your business.

• CoverWallet: Best for a quick, 100% digital comparison of top-tier carriers like Liberty Mutual and Starr.

4. Strategies to Force a Lower Rate

• The "Double Aggregate" Check: Many competitive plans offer a $1M/$2M limit. Ensure your "Aggregate" (total yearly limit) is at least double your "Occurrence" (per-claim limit) to avoid being underinsured after one accident.

• Increase Your Excess/Deductible: Moving your deductible from $500 to $1,000 can often drop your annual premium by 10% or more.

• Pay Annually: Most 2025 insurers offer a 5% to 10% discount if you pay the full year upfront rather than monthly installments.

• Bundle with a BOP: Never buy General Liability and Property insurance separately. A Business Owner’s Policy (BOP) is almost always 20% cheaper than buying them individually.

5. Watch for "Price Decreases" in 2025

Recent data shows that Cyber Liability and D&O (Directors and Officers) insurance rates are softening. If you haven't renegotiated these specific policies in the last 12 months, you are likely overpaying.