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If your biggest business risk is a client claiming your advice or work cost them money, you want an insurer that takes professional liability seriously. Hiscox has built its US small-business arm around exactly that. It’s one of the most established names covering consultants, agencies, and other knowledge-based businesses, pairing a genuinely long pedigree with a modern, quote-in-minutes online experience.
Hiscox traces back to a single underwriter at Lloyd’s of London in 1901, and launched its direct US digital small-business operation around 2009 (now headquartered in Chicago). Today it insures more than 600,000 US small businesses and carries an A (Excellent) financial-strength rating from AM Best. This review covers what Hiscox offers, what it costs, how customers actually rate it, including some honest weak spots, and who it fits best.
Coverage built for professionals, quote in minutes
Hiscox specializes in professional liability (E&O) and general liability for consultants, freelancers, and service businesses. You can quote and buy online in minutes and download proof of coverage instantly. See your own price before you decide.
Get a Free Hiscox Quote →Quick company snapshot
| Company | Hiscox (US small business, Hiscox Insurance Company Inc.) |
|---|---|
| Founded | 1901 at Lloyd’s of London; US direct small-business ~2009 |
| US headquarters | Chicago, IL |
| Ownership | Hiscox Ltd (Bermuda-based; listed on the London Stock Exchange, LSE: HSX) |
| AM Best rating | A (Excellent), financial size category XV ($2B+) |
| Coverage types | General liability, professional liability (E&O), BOP, cyber (direct); commercial property, workers’ comp, commercial auto, medical malpractice (via partners) |
| Customers | 600,000+ US small businesses |
| Starting price | Professional liability from ~$22.50/month; general liability from ~$30/month |
| Availability | Licensed in all 50 states; direct online purchase in 49 (not available in Alaska) |
| Trustpilot | ~1.6 / 5 (see ratings section for context) |
| BBB | A+ rating (not BBB-accredited) |
| Website | www.hiscox.com |
Hiscox at a glance
Where Hiscox wins is trust and specialization. It has underwritten small-business and professional risks for over a century, carries strong financial-strength backing, and tailors its professional liability (errors & omissions) coverage to specific fields, from IT consultants and marketers to accountants and designers. Its professional liability even covers work performed anywhere in the world, which matters for remote and international client work.
At the same time, Hiscox has kept pace with the digital-first insurers: you can pull a quote and bind a policy online in minutes, with more hands-on support available if your situation is complicated. That combination, an established, A-rated carrier with a modern buying experience, is why it earns a spot alongside the newer names in our guide to the top business insurance companies in America.
Pros & cons
| ✅ What works in Hiscox’s favor | ❌ Where Hiscox falls short |
|---|---|
| 120+ year pedigree with A (Excellent) AM Best rating, size XV | Weak claims reputation, reports of slow processing and denials |
| Specialized E&O tailored to professional fields; covers work done worldwide | Renewal premiums can rise sharply with little advance notice |
| Fast online quote-to-certificate in minutes | Direct online product isn’t available in Alaska |
| Low entry pricing (E&O from ~$22.50/mo; ~$25/mo for home-based) | Low customer-review scores (see ratings section) |
| 14-day money-back window; no pre-checked add-ons or hidden fees | Some lines (workers’ comp, commercial auto) run through partner carriers |
| Bundling discounts on a Business Owner’s Policy | No full self-service portal to manage policies independently |
Coverage and products
Hiscox sells four core policies directly online: general liability, professional liability (E&O), a Business Owner’s Policy that bundles liability with property, and cyber. Beyond those, it arranges commercial property, workers’ compensation, commercial auto, and medical malpractice, some through partner carriers rather than in-house. The clear center of gravity is professional liability, and that’s where Hiscox is strongest: coverage is tailored by profession rather than sold as a one-size template.
For a knowledge-based business whose biggest exposure is a client claiming your advice caused a loss, that focused E&O coverage is often the deciding factor. If you’re a solo operator weighing your options, our guide to the best sole proprietor insurance policies is a useful companion read.
How much does Hiscox cost?
Hiscox advertises professional liability from about $22.50 a month and general liability from roughly $30 a month, with home-based businesses sometimes landing near $25. Its own sample quotes show an IT consultant around $43/month and a business consultant around $85/month, and independent estimates put the blended average near ~$109 a month. As always, the real figure depends on your profession, revenue, location, claims history, and limits.
Two things work in buyers’ favor: Hiscox doesn’t pre-check expensive add-ons, and it offers a 14-day money-back window if you change your mind. The main pricing caveat is renewals, several customers report premiums climbing at renewal without much explanation, so it’s worth re-shopping each year. For property-heavy operations, also compare specialists in our list of hazard insurance companies for small business.
See your exact price in minutes
Because rates depend so heavily on your profession and location, the only number that matters is your own. Hiscox’s quote tool is free and takes just a few minutes, then compare it against the other carriers in our reviews.
Check Hiscox’s Prices →Customer experience and ratings
Here’s the honest picture. On financial strength, Hiscox is excellent, an A (Excellent) AM Best rating and a 120-year track record mean there’s little doubt it can pay claims. On customer satisfaction, the scores are noticeably weaker: Hiscox sits around 1.6 out of 5 on Trustpilot, and its BBB customer reviews skew low too, even though its BBB letter grade is A+.
Some context matters here: insurer review scores tend to run low across the board (unhappy claimants review far more often than satisfied ones), and Hiscox’s complaint volume is amplified by its large customer base. That said, the criticism clusters around two consistent, real themes, slow or denied claims, and sharp renewal increases. The takeaway isn’t “avoid Hiscox,” but rather: read your policy’s exclusions carefully, keep good documentation for any claim, and re-check your premium at each renewal. To weigh a more service-light digital competitor, see our NEXT Insurance review.
How Hiscox compares
| Factor | Hiscox | Newer digital-first insurer |
|---|---|---|
| Track record | 120+ years, A (Excellent) | Often under 10 years |
| Professional liability focus | Deep, tailored by profession | More generalized |
| Speed to bind | Minutes, online | Minutes, online |
| Human guidance | Available for complex needs | Often fully self-serve |
| Entry price | E&O from ~$22.50/mo | Comparable |
| Worldwide work covered | Yes (professional liability) | Varies |
Hiscox competes with digital-first names like NEXT Insurance, Tivly, and on-demand players such as Thimble. Its edge is a century of professional-liability expertise and top-tier financial strength; its weak spot is customer-service and claims sentiment.
Who Hiscox is best suited for
Worth a closer look if you are:
- A consultant, agency, IT professional, accountant, marketer, or designer who needs tailored professional liability (E&O)
- A knowledge-based or home-based business that values an established, A-rated carrier
- Someone doing client work internationally who needs worldwide professional-liability coverage
- Looking to quote and bind online quickly, but with human help available if needed
Consider alternatives if you are:
- Running a complex operation needing heavily customized commercial coverage
- Reliant on in-house workers’ comp or commercial auto rather than partner carriers
- Wanting a full self-service portal to manage everything yourself
- Based in Alaska, where the direct online product isn’t offered
Ready to check your rate?
For professional-services businesses, Hiscox pairs specialized E&O coverage with an A (Excellent) AM Best rating and a 120-year track record. A quote is free and takes just a few minutes, see your price before you commit.
Get Your Free Hiscox Quote →Hiscox insurance review: frequently asked questions
Is Hiscox a legitimate insurance company?
Yes. Hiscox traces its roots to Lloyd’s of London in 1901 and has run a direct US small-business operation since 2009, now insuring more than 600,000 US small businesses. It holds an A (Excellent) financial strength rating from AM Best and an A (Strong) from S&P Global, and its NAIC complaint index for commercial liability sits below the industry average, meaning fewer regulator complaints than expected for its size.
How much does Hiscox business insurance cost?
Professional liability starts around $22.50/month and general liability around $30/month for low-risk sole proprietors. Across all coverage types and states, independent 2026 analyses put the average Hiscox premium near $109/month, with business owner’s policies (BOPs) averaging about $169/month. Your exact quote depends on industry, revenue, and state, and Hiscox quotes online in minutes.
Why are some Hiscox reviews so negative?
There is a real split. Hiscox scores an A+ with the BBB and has below-average regulator complaints, but only ★★★★★ about 1.6 / 5 on Trustpilot. The negative reviews cluster around two themes: slow handling of complex claims, and sharp premium increases at renewal. Strong coverage and underwriting pedigree, but budget for a renewal review and document claims carefully.
What does Hiscox cover?
Core products are general liability, professional liability (E&O), business owner’s policies, cyber insurance, and short-term liability coverage, with policies tailored to specific professions. Coverage is available in 49 states (not Alaska), and policies include worldwide coverage for work performed anywhere as long as the claim is filed in the US.
How does Hiscox compare to digital-first insurers?
Hiscox has the deeper professional liability specialization and a century of underwriting history, while newer digital-first rivals are cheaper at entry (general liability from about $19/month) with faster app-based experiences. Consultants and professional-services firms with E&O exposure generally fit Hiscox better; freelancers and trades wanting quick, cheap coverage often fit the newcomers. For the full landscape, see our Thimble review.
Can I cancel a Hiscox policy?
Yes. Hiscox offers a 14-day money-back guarantee on new policies, and you can cancel at any time afterward (refunds on unearned premium depend on state rules).
Final verdict
Hiscox is one of the strongest options on the market for a specific buyer: the consultant, agency, or professional whose main risk is a claim against their advice or work. Its professional-liability specialization, worldwide coverage, and A (Excellent) financial strength are hard to match among the newer digital insurers. The honest caveat is service, claims and renewal complaints are real, and customer-review scores run low.
For professional-services firms that prioritize coverage depth and a financially rock-solid carrier, and are willing to read the fine print and re-shop at renewal, Hiscox is a genuinely strong pick, and one of the top choices in our business insurance companies guide. The fastest way to know if it fits is to run a free quote, then compare the price and terms against a competitor or two before you buy.
Amine Rahal is an entrepreneur and investor. He is passionate about alternative investments, Bitcoin, precious metals and startups. He enjoys covering US politics, retirement investing, alternative investing and geopolitics.
