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Small to medium-sized businesses drive the majority of Rhode Island’s economy as they account for over 90% of the total 100,000 registered businesses within the state. These businesses employ slightly more than half of its population, indicating their importance to the economy. Nevertheless, these firms continue to suffer from cyclical changes in the economy, along with a lack of infrastructure, and poorly managed regulations like the Washington Bridge Issue which resulted in many small businesses permanently closing due to the heavy loss in revenue during that period.
This is why these firms are in need of comprehensive business insurance. An insurance policy such as liability coverage and cyber insurance from a reliable provider safeguards the firms against any untoward incident that could trigger business operation disruption and affect revenue. This feature takes a look at seven leading business insurance providers within Rhode Island that aid these small businesses cope with such issues and grow financially.
Hiscox
Hiscox has built a reputation with its expertise in providing tailored coverage. Their range of products includes general liability, professional liability (errors & omissions), business owner’s policy (BOP), and cyber security insurance.
The sectors such as IT, marketing, consulting, health, architecture, and real estate firms all fall under their coverage umbrella. Their online portal is what makes them a trustworthy partner for small businesses seeking reliable insurance solutions as it streamlines the policy management process.
InsuranceBee
InsuranceBee provides insurance services to freelancers and small businesses. The company offers general liability and professional liability (errors and omissions) coverage along with business owner’s policies, cyber liability, and workers’ compensation.
This company serves a broad spectrum of clients, from freelancers and consultants to contractors. In addition to the supportive and tech-savvy services provided, InsuranceBee has also received compliments for giving quotes and coverage, their policy management support is also noteworthy.
Thimble
Thimble has earned the trust of Rhode Island’s business community with their on-demand coverages that can be accessed on a daily, hourly, monthly, or yearly basis. Their products include general liability, professional liability, and business owner’s policies provided to consultants, photographers, landscapers, and more.
The company uses advanced technology to assist clients. They have an online portal through which users can receive quotes, buy policies, and get a certificate of insurance in under a minute. This has made Thimble popular among entrepreneurs in Rhode Island who are looking for flexible insurance services.
Tivly
Tivly, which used to go by CommercialInsurance.net, is a business insurance marketplace that helps small business owners connect with the right insurance providers. They offer general liability, professional liability, commercial auto insurance, as well as workers’ compensation coverage.
Tivly caters to a variety of sectors like construction, consulting, beauticians, and retailing. The marketplace is distinguished for its unmatched network of over 200 insurance affiliates and a refined model enables rapid coverage acquisition by assigning business carriers best suited for them.
NEXT Insurance
NEXT Insurance excels in offering custom insurance plans for small businesses in over 1,00 industries, ranging from construction and cleaning to restaurants. Their primary products consist of general liability, professional liability, workers’ compensation, commercial auto policies, and business owner’s policies.
NEXT Insurance has a unique online digital insurance management system that allows businesses to get quotes, purchase policies, and access documents within 10 minutes. The combination of digitized solutions digital processes and low-cost pricing makes it an excellent option for for firms needing hassle-free comprehensive insurance.
Progressive
In Rhode Island’s changing business environment, Progressive is getting increasingly popular for its adjustable commercial auto, general liability, professional liability, business owners’ policies, workers’ compensation, and cyber insurance policies.
The company serves businesses associated with numerous industries, such as trucking, contracting, retail, and professional services. Progressive has been reshaping the industry with its flexible coverage products alongside the option to easily manage their business policies through an online portal.
Huckleberry
Using Huckleberry’s online services, small business entrepreneurs can purchase insurance coverage in under five minutes. Huckleberry aids clients in acquiring general liability, business owner’s policy, workers’ compensation, and professional liability insurance coverage.
Huckleberry provides insurance services for numerous sectors, including food and beverage, healthcare, retail, and other professional services. Unlike their competitors, Huckleberry’s customer service truly sets them apart because business owners can obtain the desired coverage instantly.
Brief Overview of Leading Insurance Firms In Rhode Island
The table below describes how Rhode Island’s leading seven insurance companies differ by product and unique selling features.
| Insurance Firm | Products | Unique Selling Features |
| Hiscox | General Liability, Professional Liability (E&O), Business Owner’s Policy (BOP), Cyber Security Insurance | Tailored coverage for small businesses, streamlined online policy management |
| InsuranceBee | General Liability, Professional Liability (E&O), Business Owner’s Policy (BOP), Cyber Liability, Workers’ Compensation | Tech-savvy, fast quotes and coverage for freelancers and small businesses |
| Thimble | General Liability, Professional Liability, Business Owner’s Policy (BOP) | On-demand coverage (hourly, daily, monthly, yearly), instant Certificate of Insurance issuance |
| Tivly | General Liability, Professional Liability, Commercial Auto Insurance, Workers’ Compensation | Marketplace with access to 200+ insurance affiliates, quick coverage matching |
| NEXT Insurance | General Liability, Professional Liability, Workers’ Compensation, Commercial Auto, Business Owner’s Policy (BOP) | Digital-first insurance management, quick policy purchase within 10 minutes |
| Progressive | General Liability, Professional Liability, Business Owner’s Policy (BOP), Workers’ Compensation, Cyber Insurance, Commercial Auto | Flexible coverage for multiple industries, user-friendly online policy management |
| Huckleberry | General Liability, Business Owner’s Policy (BOP), Workers’ Compensation, Professional Liability | AI-driven fast coverage in under five minutes, strong customer service support |
Top Cities in Rhode Island for Business Insurance
The following cities in Rhode Island provide the required infrastructure support and economic environments suitable for finding business insurance solutions.
- Providence
- Warwick
- Cranston
- Pawtucket
- Newport
- East Providence
- Woonsocket
- Coventry
- Johnston
- North Kingstown
- West Warwick
- South Kingstown
- Bristol
- Smithfield
- Lincoln
Rhode Island Government Resources for Business Insurance
You can get additional information about business insurance requirements in Rhode Island through these government resources.
- Rhode Island Department of Business Regulation (DBR)
- U.S. Small Business Administration (SBA) – Rhode Island District Office
- National Flood Insurance Program (NFIP)
- HealthSource RI
Conclusion
Choosing a trustworthy insurance provider for coverage comes a long way in setting up a business for financial growth. In a vibrant business community such as Rhode Island, business insurance greatly assists in protecting company assets from risks that slow productivity and take a toll on the finances.
If your business expansion strategy includes setting up operations in other financial centers within the United States, you may check our listings of business insurance providers in New York as well as the reputable commercial coverage providers in Oregon. For additional funding options in Rhode Island, these trusted business loans and startup financing firms are of service.
Visit Sophisticated Investor for more information on how to grow your business in Rhode Island’s competitive environment.
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.
