Next vs Hiscox vs Simply Business are the three names that keep coming up when small-business owners shop for coverage online. All three let you get a quote in minutes. However, they work in very different ways behind the scenes. One is a tech-first carrier backed by Munich Re. Another is a century-old specialty insurer. The third is a marketplace that shops multiple carriers for you. The right pick depends on your trade, your state, and what coverage you actually need.
Next Vs Hiscox Vs Simply Business: The Key Differences
The biggest difference in the Next vs Hiscox vs Simply Business comparison is the business model. NEXT and Hiscox write their own policies. Simply Business does not. It is a broker-aggregator owned by Travelers that matches you with carriers like CNA, Markel, and Coterie. That matters because when you file a claim with Simply Business, you deal with the carrier — not Simply Business itself.
| Factor | NEXT Insurance | Hiscox | Simply Business |
|---|---|---|---|
| Business model | Direct carrier (Munich Re subsidiary) | Direct carrier (est. 1901) | Broker marketplace (owned by Travelers) |
| AM Best rating | A+ (Superior) | A (Excellent) | Varies by carrier (Travelers is A-rated) |
| GL starting price | $30/month | $30/month | $41/month |
| BOP starting price | Limited availability (10 states) | $42/month | $61/month |
| Professional liability | Available | $22.50/month (specialty strength) | $26/month |
| Workers comp | Available | Starting at $72/month | Not widely listed |
| States served | All 50 + D.C. | 49 + D.C. (not Alaska) | 48 + D.C. (not Alaska or Hawaii) |
| Instant COI | Yes — under 1 minute | Yes — minutes | Yes — minutes to 24 hours |
| Industries covered | 1,300+ | 180+ specialized | 400+ |
| Claims handled by | NEXT directly | Hiscox directly | The partner carrier |
For example, if you are a painting contractor who needs a certificate of insurance before tomorrow’s job, NEXT can generate one in under a minute. Hiscox handles COIs quickly too. Simply Business may take up to 24 hours for formal requests. In most cases, speed matters less than coverage fit — but when a general contractor demands your COI by morning, it matters a lot.
When Each Option Is the Better Choice
In the Next vs Hiscox vs Simply Business matchup, your trade drives the answer. NEXT covers 1,300-plus business types and works best for hands-on trades: painters, cleaners, handymen, personal trainers, and food-service businesses. Its AI-powered quoting is the fastest in the industry. As a result, contractors who need same-day coverage tend to land here.
Hiscox is the pick for professional services. Consultants, accountants, IT professionals, architects, and designers benefit from Hiscox’s deep errors-and-omissions underwriting. The company has specialized in professional liability since 1901. If your biggest risk is a client suing over advice or work product, Hiscox typically writes a tighter policy for that exposure.
Simply Business wins when you want to compare. Because it shops your application across up to 18 carriers, you see competing quotes side by side. That transparency helps if you are a general small business without specialized needs. However, you trade away direct carrier claims support. For many retail shops, freelancers, and service businesses, the price comparison alone justifies using Simply Business as a starting point — then buying direct if the numbers are close.
The Costs and Trade-Offs
On price alone, Next vs Hiscox vs Simply Business shakes out like this: NEXT and Hiscox both start general liability at $30/month. Simply Business starts higher at $41/month. However, Simply Business may surface a cheaper carrier quote that neither NEXT nor Hiscox would offer. The average Simply Business customer pays about $97/month across all coverages, while the average Hiscox customer pays around $109/month.
Bundling matters. Hiscox offers a 5 percent discount when you combine policies. NEXT bundles some coverages into a single quote. Simply Business lets you bundle through whichever carrier wins your application. Typically, a BOP — which combines general liability and property coverage — saves 10 to 15 percent over buying each separately.
The trade-off with NEXT is that it is entirely digital. There is no phone agent to walk you through a complex claim. Hiscox offers phone support Monday through Friday until 10 PM Eastern. Simply Business sits in between — you get a digital portal, but claims go through the carrier. For straightforward policies, digital-only works fine. For a contested liability claim, some owners prefer a carrier with phone support.
How This Varies by Trade and State
When comparing Next vs Hiscox vs Simply Business, your state and profession change the math. NEXT is the only one of the three available in all 50 states. Hiscox skips Alaska. Simply Business skips Alaska and Hawaii. Workers comp mandates also vary — some states require it with just one employee, while others set the threshold higher.
| Business type | Best fit | Typical GL cost | Key coverage need |
|---|---|---|---|
| IT consultant (solo) | Hiscox | $30–$40/month | E&O / professional liability |
| House cleaner (1–3 employees) | NEXT | $30–$45/month | GL + workers comp |
| Freelance graphic designer | Hiscox or Simply Business | $25–$35/month | Professional liability |
| Retail shop owner | Simply Business | $42–$65/month | BOP (GL + property) |
| General contractor | NEXT | $75–$150/month | GL + instant COI + workers comp |
For example, a sole-proprietor consultant in Texas comparing Next vs Hiscox vs Simply Business will likely find Hiscox cheapest for professional liability. A painting crew in Florida needing instant proof of insurance may find NEXT faster and simpler. A boutique owner in Oregon who wants to compare three carriers at once saves time with Simply Business.
Frequently Asked Questions
Is Simply Business an insurance company?
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No. Simply Business is a broker marketplace owned by Travelers. It does not underwrite policies. It connects you with carriers like CNA, Markel, and Hiscox. Your actual policy comes from whichever carrier you select. As a result, claims and renewals go through that carrier, not Simply Business.
Can I switch between NEXT, Hiscox, and Simply Business mid-policy?
Yes, in most cases. You can cancel and rebind with a different provider, though you may owe a short-rate cancellation fee. Typically, it is easier to switch at renewal. When comparing Next vs Hiscox vs Simply Business at renewal time, get quotes from all three — pricing can shift year to year. Some Hiscox customers report renewal increases of 30 percent or more.
Which one is best for a brand-new business with no revenue yet?
NEXT tends to be the most startup-friendly. It underwrites businesses with no revenue history and provides coverage the same day. Hiscox also serves startups but may price higher without a track record. Simply Business can surface startup-friendly carriers through its marketplace. In all cases, confirm your quote reflects your actual revenue estimate to avoid audit surprises later.
Do any of these three cover commercial auto?
NEXT offers commercial auto in most states. Hiscox offers it in select states. Simply Business may surface commercial auto quotes depending on the carriers in your state. For a dedicated commercial auto policy with broader options, you may need to shop separately through a local agent.
Compare Quotes for Your Business
What you pay depends on your trade, your state, your revenue, and your claims history. The only way to know your real price is to compare several quotes side by side.
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Sources & How to Verify
The information on this page is drawn from official government and industry sources. Insurance requirements, premiums, and state rules change, so always confirm the exact figure with your state, a licensed agent, or the authority source.
- U.S. Small Business Administration: sba.gov — federal small-business insurance guidance
- Insurance Information Institute: iii.org — neutral premium and coverage data
- NAIC: naic.org — state insurance regulation data
- U.S. Department of Labor: dol.gov — workers’ compensation overview
- Your state DOI, workers’ comp board, and contractor-licensing board: search “[your state] department of insurance” or “[your state] workers comp” for the exact law and forms
Content last reviewed June 2026. If you notice outdated information, please contact us.
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Informational only — not insurance, legal, or tax advice. Business Insure Guide is an independent educational resource, not an insurance company, broker, law firm, or tax advisor, and this page does not provide insurance, legal, or tax advice. Requirements, premiums, and rules vary by trade, state, and insurer, and change over time. Always confirm the exact coverage, requirement, and price with a licensed insurance agent and your state before you buy. Verify with a licensed professional for advice about your specific situation.