Hiscox Business Insurance Review 2024: Customized Solutions For Different Industries

Bryan Keith

Hiscox was founded in 1901 as an underwriter to marine insurance. Since that time, Hiscox has expanded to the United States and internationally into 14 countries. Offering a significant lineup of insurance down to micro-business needs. Hiscox USA, created for the United States, is designed for independent contractions and small business owners, providing coverage for over 400,000 small businesses.

Overall rating


Summary: Hiscox focuses on your business, so it can provide a solution that fits your needs.

Hiscox Business Insurance

hiscox business insurance logo


Coverage Up To

$0 - $10,000




Policy Application


Fees & Coverage Options


Industries Covered


Claim Support


Customer Service


Safe & Secure


  • Flexible professional liability insurance
  • Customized insurance for over 180 industries
  • Deductibles starting at $0
  • Discounts


  • Limited US offices
  • Coverage limited to $2 million

Best For

  • Quick online solutions
  • Tailored solutions
  • Dual auto insurancee


HQHamilton, Bermuda
Annual Coverage$2M available online, and $5M upon submission for underwriting
Deductibles$0 – $10,000 depending on coverage and type of insurance
Business RevenueLess than $5M for eligibility
Employee HeadcountLess than 10 employees for eligibility
Restricted StatesAlaska is the most restricted regarding all policy options

In depth review on Hiscox

Hiscox offers a variety of insurance options for small business owners.  The company has expert underwriting with swift service and online availability. Hiscox is a risk-taker in the insurance market with expanding coverage to all types of complex business needs. 

 Hiscox is best for

  • Online Solutions: Professional Liability, General Liability, and Business Owners Policy allow users to receive instant coverage through online support or a quick phone chat.
  • Tailored Solutions: Individual businesses are the focus of Hiscox offerings. Each business will have a customized solution. These are dependent on the business industry, coverage amount, and business size.
  • Dual auto insurance: Commercial auto insurance covers a wide range of vehicles and includes personal and business use.

Hiscox benefits

  • Flexible professional liability: Professional liability insurance covers work done anywhere in the world.
  • Coverage for over 180 industries: Tailored solutions for a variety of industries and markets. Coverage across a variety of industries makes Hiscox unique to the Small Business owner niche. 
  • Wide range of deductibles: The range of deductibles is $0-$10,000, including $0 on General Liability policies. 
  • Discounts: A discount of up to 5% when you buy two or more insurance products. There is a 14-day money-back refund policy.

Hiscox drawbacks

  • Limited offices: Only 10 US offices are available for an in-person discussion.
  • Coverage: Max annual coverages max at $2 million online.

Factors contributing to the overall rating

Policy application


To receive a quote from Hiscox is a matter of a few clicks and some quick information. The State of business operation and industry are the first questions. Hiscox will base recommended business coverage on the answers. The recommended coverages are available for purchase online. If tailored coverages are required, speaking to an agent will help. General information is needed, such as name, business address, phone numbers, and email. The other information required is:

  • Business Industry
  • Locations
  • Ownership structure (Individual, Joint, LLC, Trust, Partnership, Corporation)
  • Total Employees
  • 12-month business revenue
  • Estimated future sales
  • Contracts or Licensing
  • Services provided

Once all required information is received, you will immediately receive a quote. You can continue the process by paying online and receive immediate coverage.  

Fees and coverage options

  • Professional liability (errors and omissions): This coverage starts as low as $22.50/month. The policy covers work completed by employees. Additional features include full retro-coverage for unknown claims from previous work. The deductible varies depending on coverage requirements. $2 million in coverage is available online, or underwriting submission may be done for coverage up to $5 million.
  • General liability: This coverage starts as low as $29.17/month. The policy covers actions by employees and temporary staff. Additional features include the policy as a stand-alone, damage to premises rented, personal injury, and an option for business equipment coverage up to $25,000. No deductible is required, and $2 million is available online, with underwriting options up to $5 million.
  • Business owners policy: This coverage starts as low as $41.67/month. The policy includes general liability and business assets. Additional features include up to $100,000 in coverage for business content and up to $500,000 in coverage for all buildings. Damage to premises rented is covered up to $50,000. The deductible ranges from $500-$10,000, and $2 million is available online, with underwriting options up to $4 million.

The three primary coverages are the top purchases, but additional options include Cyber Security Insurance, Medical Malpractice, Workers Compensation, Short-Term Liability, commercial auto, and umbrella.  

Industries covered


Over 180 different types of businesses are covered. Hiscox offers insurance by industry and by business type. The supported sectors are:

  • Architecture and Engineering – drafting, mechanical, application
  • Beauty – Barbers, Salon owners, Estheticians
  • Commercial Maintenance – Cleaning services, construction, HVAC contractors, property managers
  • Consulting – Accountants, Notaries, Management consultants
  • Fitness – CrossFit instructors, golf instructors, Zumba instructors, personal trainers
  • Health – Medical professionals, Home health aides, dieticians
  • Home Services – Lawn Care services, plumbers, painters, handyman
  • Marketing – Graphic Designers, Digital Marketing, Event Planners, Web designers
  • Property – Land Surveyors, Real Estate Agents
  • Retail – Florists, e-commerce, restaurant owners
  • Therapy – Therapists, Social Workers, Phycologists

Claim support


Hiscox has a four-step process for insurance claims. These steps have set time limits for a response. The timeline does not start until a claim is sent to Hiscox via online, call, or mail.  

  • Acknowledge a reported claim: Hiscox will email a reference number within one business day of a submitted claim.
  • Representative assigned: Within two business days of a submitted claim, a claims representative will be assigned and reach out directly to discuss in detail the insurance claim.
  • Coverage validated: Within 5-10 business days, the coverage purchased previously will be validated through the claims representative.
  • Decision made: Within 10-20 business days of the original claim submission, a claims representative will be in contact with the coverage details of the claim.

Customer service


The only complaints have been due to significant call trees and dropped calls.  Customer service and claim support for Hiscox are available Monday through Friday. Reporting a claim may be done online and by mail 24/7. The hours and customer service contact are below:

Phone 1-866-424-8508.

Monday-Friday (7 am-10 pm EST)  

Safe and secure


Hiscox carries an A+ rating by A.M. Best. A.M. Best is an insurance-focused, national credit rating company.

Is Hiscox right for you?

Hiscox focuses on tailored solutions for Small Business owners versus the one-size-fits-all. Hiscox has made it simple for business owners to find the right insurance. The three common business insurances have immediate coverage through a quick online application. If detailed insurance is needed, a chat with a representative will delve into the micro details of the business to ensure all aspects.