The commercial property insurance marketplace is packed with notable options, each company offering unique protections for physical assets and income. This article summarizes the strengths and weaknesses of four such companies: CNA, The Hartford, Thimble, and Chubb.
CNA excels in safeguarding businesses' earnings and equipment. It promises loss of income coverage for up to two years, vital for businesses needing ample recovery time after a disaster. Its business owner's policy features an inclusive equipment breakdown cover. However, its failure to provide online quoting services might deter potential customers despite its excellent customer service record, as reflected by its fewer-than-average customer complaints.
The Hartford is an option with flexible coverage and exceptional techno-centric facilities. Its business owner’s policy offers a package of property, general liability, and business interruption insurance. Tailored coverages and online facilities like claims filing are seen as added bonuses. However, the company has shown a mixed record with poor customer complaint records stored against certain types of coverages.
Thimble might be preferred by smaller businesses due to its quick and completely digital service. Yet, the companies $1 million cap on building coverage and insurance only being offered as part of a business owner's policy might fail to meet the requirements of larger businesses.
Chubb stands out for its unlimited business income protection, providing respite to businesses with longer recovery times. It allows flexible blanket coverage limits up to $2 million, providing adequate protection against diverse property risks. However, records of poor customer complaints are seen against its liability and workers' compensation coverages.