Next Insurance Reviews 2021: Pros & Cons | Legit & Scam | How It Works

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Next Insurance is a disruptive digital insurance company that gives small business owners the leverage to purchase affordable and tailored insurance policies online.

Whether you’re a small-business owner that’s looking for an insurance company that can get your company, and even your employees covered with optimal plan option, flexibility and digital mode of operation as well as quality customer service, there are groundbreaking legit insurance companies out there that you can trust for such services and one of them is Next Insurance.

This guide we’ll be talking about Next Insurance Reviews we cover extensively about the company, its pros, and cons, whether it is a scam or legit as well as how you can gain coverage so grab a sit-let journey together.

What is Next Insurance?

Founded in 2015, by three friends, Next Insurance is a disruptive digital insurance company that gives small business owners the leverage to purchase affordable and tailored insurance policies online. The company uses artificial intelligence (AI) to underwrite and sell its policies to small business owners.

Next Insurance offers coverage to businesses digitally. The company sells products such as General Liability Insurance, Professional Liability Insurance, Commercial Auto Insurance, Workers Compensation, and Commercial Property Insurance among others.

The Business insurance company offers a highly customizable plan to meet the needs of industries ranging from construction, fitness, childcare, and many more. It also has a simple website interface that users can easily navigate and search different business insurance packages, sign up, request an instant quote, and gain coverage in less than fifteen minutes.

Next also offers different types of policy than being purchased by an individual or bundled together for up to $10 discount, that’s not all, at Next Business Insurance, business owners can get a certificate of insurance and such, If you’re shopping for a quality online small business insurance company that you can trust then, Next insurance might be a good fit for you, so follow closely as we dig deeper on the Next Insurance Reviews.

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Why Should I Use Next Business Insurance?

Due to the maintenance of its quality standard, after its inception in 2015, it has been able to gain trust and credibility from top brands such as Facebook, and Google as well as an  A+ rating from A.M Best and Better Business Bureau (BBB).

According to its website, Next Insurance has been serving more than 1,000 types of businesses with a 4.7 rating from its customers, in addition, the company has also received 4.8 and 4.7 ratings from top brands such as Google and Facebook.

Next Insurance is a good fit for companies that prefer an online approach to business management. The company provides flexible online service and customer support such that you can sit at your home or office as a business owner and submit insurance claims directly via its online customer portal or over the phone.

Next offers policies tailored to business owners with the leverage of technology in underwriting and selling its policies and plans online without the need of a third-party agent. With Next you stand to enjoy a 10% bundle discount, and cheaper coverage rate, it also offers a certificate to its policyholders that’s accessible online anytime and anywhere for free of charge.

With Next you can choose to terminate your policy without a cancelation fee, and it also comes with a $0 deductible for a general insurance liability company.

How Does Next Insurance Work?

Next Insurance has one of the fastest quote generators among most business insurance companies. All you need to do is to open its website, sign up, answer a few questions about your company and different types of quotes will be instantly displayed on your screen to choose from. You can purchase the policy that suits the preference of your Company online with no need for a third-party agent. However, if you need help on choosing a quote or to answer a question you can contact customer care and they’ll respond in no time. Now that you know how Next Insurance works it’s also necessary to know and understand the business policies offered by the company.

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What Are The Policies Offered By Next Insurance?

Next Insurance offers a diverse product that can be purchased either individually or bundled for up to a 10% discount. As the general rule implies that businesses with high risk such as construction industries may pay more to gain coverage than low-risk industries like online publishers.

At Next Insurance you can get the following policies:

  • General Liability Insurance
  • Business Owners Policy
  • Professional Liability Insurance
  • Commercial Auto Insurance
  • Business Income Insurance
  • Commercial Property Insurance
  • Tools and Equipment Insurance
  • Workers Compensation Insurance

1. General Liability Insurance

Also known as business liability insurance, it protects you and your company when you’re responsible for paying someone’s expenses, attorney fees,s or damage.

2. Business Owners Policy

It combines two major components of business insurance which are General liability and Commercial property coverage. If you’re a small business seeking a discount for a bundle of policies, a single source of insurance claims and support as well as customized coverage tailored to your industry then, this specific product might be a good fit for you. It’s also important to note that if you want to benefit from BOP you need to have a business location, a customer-facing presence, and equipment that can be stolen or damaged.

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3. Professional Liability insurance

This type of insurance policy protects you against negative claims caused by your professional advice or service to someone. This includes poor financial outcomes or accusations of business errors and also claims of negligence and more.  Next Combines professional liability insurance and a specific type of coverage known as errors and omissions insurance (E&O).

4. Commercial Auto Insurance

Commercial auto insurance protects your company when you or your drivers are involved in injury or damage to yourself and others. It offers five major components:

  • Medical coverage
  • Collision coverage
  • Liability Insurance
  • Uninsured or underinsured motorist coverage
  • Comprehensive coverage

5. Business Income Insurance

Business interruption insurance protects the asset and money of your company when business activities are affected by situations beyond your control. This type of coverage can help you pay for taxes, lost bonus income, payroll, and any temporary expenses that can likely arise as a result of missed operation and more.

6. Commercial Property Insurance

This policy protects your physical place of business in times of loss or damage. Commercial property includes the building, furniture, and equipment, landscaping, and fences, etc this coverage can extend to property owned by others depending on the event and policy.

7. Tools and Equipment Insurance

This type of insurance provides extra coverage for expensive equipment or machinery that’ll cost much to replace.  Tools and equipment can keep your business operating when you need quick repairs or replacements.

8. Workers Compensation Insurance

It’s mostly required in many states for businesses with employees and in some cases, contractors need to be also covered. Self-employed business owners can even benefit from this product themselves to cover expenses that may not be covered under their health insurance policies. Workers’ compensation usually pays for survivor benefits, medical expenses, lost wages, and other costs incurred when your staff suffers illnesses or injuries that are connected to work. Next Insurance workers’ compensation can cost as little as $14 monthly depending on your company’s size and can be bundled with other packages to enjoy additional discounts.

Is Next insurance Legit or Scam?

So far, a lot has been said about Next Insurance which signals that Next Insurance is legit.

After its inception in 2015, Next Insurance has secured investors partnership and investors and has been serving more than 1,000 types of businesses with a 4.7 customer rating, in addition, the company has received a 4.8 and rating from Google and 4.7 from Facebook.

Apart from the large sponsorship and partnership that it has secured over time it also has an A+ rating from A.M Best and BBB. If top tech companies that are worth billions of dollars can put their reputation at stake to rate Next Insurance Company then, Next Insurance cannot be a scam.

In a nutshell, Next Insurance is Legit and not a scam, so if you want to purchase its policy for your business feel free to do so, however, make your findings on its competition before making your policy purchasing decision for your business.

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How Do I Get Next Insurance Policy?

You can get Next Insurance policy from the comfort of your home. All you need to do is sign up and upload digital copies of the required business documents.

Here are a few information you need to tender:

  • Basic info about your business including your annual sales receipts
  • Construction details of building you owned, its age and square footage
  • The number of your employees as well as their employment information
  • Details on any prior claim your company might have made.
  • Finally, for commercial auto insurance, you’ll need to list the types of your vehicle, VIN numbers, and the names of any driver.

What is the Cost of Purchasing Next Insurance?   

The best way to get accurate pricing from Next Insurance is by generating a quote at their website that’s customized for your business but here are few starting rates:

  • General liability: Premium starts at $750 per annum, while General liability coverage starts at $150 per annum for fitness trainers and $450 annually for handypersons. 
  • Professional liability: There is a deductible of $2,000 and the premium varies.
  • Commercial auto:Comes with a deductible of $0, $500, or $1,000, depending on the state and the policy that you choose, premium also varies.

Pros and Cons of Next Insurance

Pros:

  • Life certificate for instant proof of insurance
  • Monthly payment of premium at extra cost
  • Quote in less than 10 minutes
  • Refund with no cancelation fee
  • Coverage procedures are all done online
  • Outstanding customer care service
  •  Small business insurance from $11 per month
  •  Fast and easy coverage process
  • Offers up to 10 bundles discount

Cons:

  • Business owners who prefer the paper option may find it hard to adapt to the digital system
  • Some companies may have to call to sign up since their industry may not be listed on the application

Final Thoughts

If you’re looking for a legit insurance company for your small business, with a fast and easy coverage process that is done virtually, Next insurance is ideal. With this Next Insurance reviews, we hope you’ll be able to make better insurance decision for your small business.

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