Top 10 Insurance Agencies for Franchises

Securing the right insurance coverage is essential for both franchisors and franchisees who are looking to safeguard their investment and ensure their long-term success. Here are some of the top insurance agencies offering peace of mind and financial protection against unexpected challenges.

Intrepid Direct Insurance

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Intrepid Direct has revolutionized the insurance experience for business owners by eliminating intermediaries. Their streamlined process simplifies applications, accelerates quotes, ensures smoother claims, and lowers costs. By choosing to go direct, businesses can spend less time on insurance matters and more on their operations. Interested clients can contact Intrepid Direct for a complimentary quote, with potential savings of up to 20% compared to traditional agent or broker models.

Hiscox

Hiscox offers a variety of business insurance policies, including general liability, professional liability, workers' compensation and cyber security insurance. Hiscox also offers a business owners policy (BOP), which combines general liability and property insurance coverage in one contract. Hiscox offers general liability coverage limits ranging from $300,000 to $2,000,000, but the minimum coverage needed depends on the size of the business and the project. Hiscox also offers customized policies for specific risks.

Progressive Commercial

Progressive Commercial offers customizable business insurance policies for franchises, including general and professional liability, BOPs, workers' compensation, commercial auto and cyber insurance. Progressive's online quote process can be used to start a quote for these types of insurance. However, if you need more specialized products or aren't sure what coverages you need, you can speak with an agent. You can also call Progressive directly to start the process.

Travelers Insurance

Travelers Insurance offers tailored protection to franchise owners, addressing the specific risks they encounter daily. With extensive industry expertise and a comprehensive understanding of business needs, Travelers designs service plans that cater specifically to their clients. Since 1853, Travelers has been committed to helping businesses prepare for, mitigate and recover from losses. The agency’s long-standing dedication ensures it’s equipped to help keep your franchise operational and secure.

Chubb

Chubb offers tailored business insurance products suitable for businesses of all sizes and types, including franchises. Their small business package provides coverage for property, professional liability, equipment breakdown, and crime, addressing the specific needs of franchise operations. In addition to standard coverage, Chubb provides specialized cyber insurance, encompassing risk transfer, loss mitigation services, and post-incident support to shield businesses from cyber threats. Chubb's franchise insurance policy caters to various liabilities, including property damage, personal injury, advertising, and product liability. Moreover, Chubb extends its services beyond insurance, providing loss prevention solutions such as Internet of Things (IoT) devices. These devices utilize advanced technology to anticipate and prevent property damage, enhancing risk management for franchises.

The Hartford

The Hartford offers a comprehensive array of small business insurance products — including workers’ compensation, professional liability, cybersecurity, and medical malpractice insurance —, addressing various risks faced by franchises. Its industry-specific coverage options cater to nonprofits, associations, skilled trades, healthcare providers and more, ensuring tailored protection aligned with specific industry needs. Notable offerings include a customizable BOP, coverage for off-premises utility interruptions, data breaches and immediate business income coverage after a covered property loss. Additionally, The Hartford provides standalone commercial property insurance, global insurance for international operations and specialized coverage for home-based businesses, ensuring businesses of all types can confidently protect themselves against diverse risks.

Liberty Mutual

Liberty Mutual offers a range of comprehensive insurance solutions tailored for franchises through its commercial services. Offerings include customizable coverage options such as property, general liability, workers' compensation, cyber liability and business interruption insurance, designed to address the unique needs and risks faced by franchise businesses. Liberty Mutual's expertise extends to various industries, ensuring that franchises in sectors such as hospitality, retail and healthcare receive specialized protection. Liberty Mutual’s commitment to exceptional customer service and risk management support further enhances the value proposition for franchise owners, enabling them to focus on growing their businesses.

AIG

AIG specializes in providing tailored insurance solutions, offering a variety of products designed to meet the specific needs of franchised businesses. Standard franchise insurance policies cover liabilities related to property damage, advertising, personal injury and product liability. In addition, AIG's commercial property insurance helps franchises remain operational in the face of natural disasters, equipment breakdowns and other disruptions, while its casualty insurance goes beyond traditional coverage by partnering with franchises to identify and manage risks, spur business growth and seize new opportunities. AIG also offers mergers and acquisitions insurance tailored to the unique needs of franchises, providing coverage for representations and warranties, tax liability, and contingent liability.

Farmers Insurance

Farmers Insurance offers comprehensive general liability insurance tailored to the needs of franchises through its business insurance solutions. Farmers’ general liability coverage provides protection against claims of bodily injury, property damage, personal and advertising injury and medical expenses arising from business operations. This insurance is particularly crucial for franchises as it safeguards them against potential lawsuits and financial losses resulting from accidents or injuries on their premises or caused by their products or services. Farmers Insurance understands the unique risks faced by franchises and provides customizable coverage options to ensure adequate protection. 

Berkshire Hathaway GUARD

Berkshire Hathaway GUARD Insurance Group specializes in offering tailored insurance solutions for small businesses, including franchises. Its commercial insurance offerings are designed to meet the unique needs of small businesses, providing coverage for various risks such as property damage, liability and business interruption. GUARD Insurance Group's customizable policies offer franchises the flexibility to select coverage options that align with their specific requirements, ensuring comprehensive protection against unforeseen events and potential liabilities. 

Choosing the right insurance agency is vital for protecting your franchise from unexpected risks and ensuring its long-term success. These 10 insurance agencies offer specialized, comprehensive coverage tailored to the unique needs of franchise operations, providing financial security for business owners.

If you are a prospective entrepreneur looking into franchising, a franchisor hoping to expand or a franchise consultant growing your business, check out the 1851 Supplier Database for write-ups and ratings of accountants, brokers, law firms, marketers and more who offer services specifically for franchises.