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North Carolina has a thriving business ecosystem, with small businesses making up 99.6% of all firms and employing over 1.7 million people. It seems an exciting prospect to set up a business here, but local firms face numerous challenges that affect their growth, such as natural disasters. The city’s economy took a significant hit when it was hit by Hurricane Helene.
Moreover, the changing economic conditions, increasing market competition, workplace hazards, and property damage are some of the common problems businesses face that affect their finances. Therefore, it’s essential for local businesses to partner with a trusted commercial insurance carrier to avoid unforeseen monetary losses.
We will be looking at seven reliable business coverage providers in North Carolina who are reshaping the industry with their cutting-edge products and features that make them stand out from their competitors.
Hiscox
What started as a single underwriter in Lloyd’s of London in 1901 has since grown into a leading global insurance firm that operates in 13 different countries. They provide a multitude of business insurance products to North Carolina businesses.
Their solutions consist of general and professional liability, as well as business owner’s policy and cyber security insurance. Hiscox targets sectors such as information technology, marketing and advertising, business consulting, and health care.
They stand out in the market for their bespoke policies, understanding of insurance requirements in niche markets, and unparalleled customer service.
Tivly
Starting their operation in 2009, Tivly is an insurtech firm based in St. Petersburg, Florida. The company is a two-sided marketplace that connects businesses to insurance providers that specialize in providing coverage policies.
The wide range of solutions offered by Tivly includes general liability, commercial property, workers’ compensation, professional liability, cyber insurance, and other industry-specific coverages. The firm has been serving a wide range of clients in the construction, retail, consulting, and beauty sectors.
An impressive aspect of this platform is that it boosts productivity by connecting companies to the exact insurance providers that suit their needs.
InsuranceBee
Insurancebee is based in Massachusetts and has been serving New York businesses since 2010. The insurance firms focus on freelancers, small businesses, and independent contractors. Their product includes general liability, professional liability, business owner policies, cyber insurance, workers’ compensation, and management liability.
Their list of clients ranges from consultants and accountancy firms down to IT professionals and real estate agents. The company recently made it to the list of Inc. Magazine’s fastest-growing 5000 private companies in America in 2018. InsuranceBee delivers personalized, instant, and affordable insurance quotes that can be purchased directly through their online platform.
NEXT Insurance
NEXT Insurance was founded back in 2016 by serial entrepreneurs Guy Goldstein, Alon Huri, and Nissim Tapiro, The Palo Alto-based company is reshaping the insurance industry with simple, digital, and affordable coverage tailored to client’s needs.
Their insurance products are general liability, professional liability, workers’ compensation, commercial auto, and business owner’s policies, which are offered to 1,300 types of small businesses, such as general contractors, personal trainers, and retailers.
The company has a fully online platform that enables customers to obtain a quote, acquire coverage, and access certificates of insurance
Thimble
Thimble was set up in 2016 and provides tailored solutions such as general and professional liability, along with commercial property and events insurance policies to small businesses, freelancers, and those associated with handyperson, event planning, and fitness industries.
Their policies are offered on a short-term basis, making them ideal for professionals needing coverage for specific events. Thimble boasts user-friendly digital tools that make it easy for clients to receive instant quotes, purchase policies, and receive certificates with the use of their smartphones.
biBERK
biBERK is a part of Berkshire Hathaway and has been in the business since 2015. The coverage providers offer coverage plans to consumers. Some of the products that they offer are general liability, professional liability, workers’ compensation, business owner’s policies, commercial auto, and umbrella insurance.
biBERK serves numerous industries, such as accountancy, construction, retail, and healthcare. Their unique selling features include an automated online system that allows customers to receive quotes and policies within a couple of minutes. With biBERK, there are no brokers involved in the process, and businesses can save 20% on coverage.
Huckleberry Insurance
Huckleberry is a digital insurance company that assists small and medium-sized businesses in getting insurance coverage via an easy online process. They provide general liability, commercial auto, professional and liquor liability, workers’ compensation, business owner policies, and more.
The insurance firm serves several industries like food, healthcare, legal, accounting, and many more. Their business model includes providing free quotes with no hidden charges or contracts. The customers can get coverage in under five minutes without going through paperwork.
Brief Overview of Leading Insurance Firms In North Carolina
The table below describes how North Carolina’s leading seven insurance companies differ by product and unique selling features.
| Insurance Firm | Insurance Products Offered | Unique Selling Features |
| Hiscox | General liability, professional liability, cyber security | Tailored coverage, strong customer service |
| Tivly | General liability, commercial property, workers’ comp, cyber | Marketplace platform connecting businesses to insurers |
| InsuranceBee | General liability, professional liability, cyber, workers’ comp | Instant online quotes, fast coverage purchase |
| NEXT Insurance | General liability, workers’ comp, commercial auto, BOP | Fully online process, instant certificates, fast claims |
| Thimble | General liability, professional liability, event insurance | Flexible coverage by job, month, or year |
| biBERK | General liability, professional liability, workers’ comp | Direct-to-consumer, automated online savings |
| Huckleberry | General liability, workers’ comp, commercial auto, liquor liability | Instant online application, no paperwork required |
Top Cities in North Carolina for Business Insurance
The following cities in North Carolina provide the required infrastructure support and economic environments suitable for finding business insurance solutions
- Charlotte
- Raleigh
- Greensboro
- Durham
- Winston-Salem
- Fayetteville
- Cary
- Wilmington
- High Point
- Concord
- Asheville
- Greenville
- Gastonia
- Jacksonville
- Apex
North Carolina Government Resources for Business Insurance
You can get additional information about business insurance requirements in North Carolina through these government resources.
- North Carolina Department of Insurance (NCDOI)
- North Carolina Industrial Commission (NCIC)
- North Carolina Rate Bureau (NCRB)
- North Carolina Division of Employment Security
- Economic Development Partnership of North Carolina (EDPNC)
- U.S. Small Business Administration – North Carolina District Office
Conclusion
Partnering with a trusted business insurance provider can protect your company from potential financial setbacks. These leading business insurance providers can help your business grow with their specialized policies for different sectors.
If you are a business owner who is planning on expanding your business to other business hubs across the United States, check out our listings for the best insurance providers in Louisiana and the trusted carriers in Florida. If you are starting a new business in North Carolina, go through our feature on business loans and startup financing companies for the best funding options. Visit Sophisticated Investor where we share exciting tips for financial success.
Brandi is a financial writer and entrepreneur with decades of expertise covering U.S. business and financial topics. Her work has been featured on Consumer Affairs, ASBN Small Business Network, Koho and many other top financial publications.
