Insuranks Ranks the Best Vendor Insurers for 2022

The top vendor insurers, according to the insurance comparison and educational website, are CoverWallet, Thimble, NEXT, Hiscox, Geico, Allstate, Nationwide, and ACT Insurance. According to Insuranks, CoverWallet is best for vendor insurance quotes comparison online. Insuranks states that Allstate has a ranking of 510 and is best for vendors with a growing business.

Vendors can be considered as startup businesses. One way for them to get covered is through start up business insurance. Start up business insurance costs are only $29/month on average for a standard general liability policy. But vendors might want to think twice before getting covered as there's vendor insurance tailored for their needs. Insuranks has recently released its ranking of the best vendor insurers for 2022. The top vendor insurers, according to the insurance comparison and educational website, are CoverWallet, Thimble, NEXT, Hiscox, Geico, Allstate, Nationwide, and ACT Insurance. CoverWallet comes first in the ranking. Founded in 2015 and acquired by AON in 2020, though not an insurance carrier per se, Insuranks sees CoverWallet as the best overall option as it offers food vendor insurance, flea market vendor insurance, farmers market vendor insurance, and other tailored vendor insurance products. Its online quote comparison platform is the other reason why CoverWallet is placed first on the ranking. Insuranks rates CoverWallet with a 10/10. According to Insuranks, CoverWallet is best for vendor insurance quotes comparison online. Second to CoverWallet, with a rating of 9/10, is Thimble. Thimble offers policies underwritten by Markel and National State Insurance. Thimble earned the second spot on the ranking is it offers short-term policy for trade show, conference, festival, market, and flash retail vendors. When purchasing short-term insurance, vendors can choose to get covered for only hours, days, weeks, or months. Thimble insurance is best for shor-term vendor insurance. NEXT insurance earns the spot next to Thimble and has an Insuranks rating of 8/10. Founded in 2015 and currently based in Palo Alto, California, United States; NEXT is known for its successive fundraising campaigns in recent years. Food truck vendors working with NEXT enjoy discounts when buying more than one insurance policy, get instant proof of insurance, and receive fast response to queries. Insuranks claims that NEXT is best for food truck vendor insurance. In the fourth place is Hiscox USA. Insuranks gives this company a rating of 7/10. Hiscox started doing business in the USA in 1901. Perks, this company gives to vendors, are worldwide coverage, generous policy limits, and an efficient claims process. Hiscox USA's headquarters is in Atlanta, Georgia. Hiscox is best for online vendor insurance according to Insuranks. Geico is based in Chevy Chase, Maryland, United States, and started underwriting insurance products in 1936. Insuranks rates this company with a 6/10. Vendors that will find Geico very advantageous are mobile food cart vendors, B2B vendors, flea market vendors, and farmers market vendors. For Insuranks, Geico is best for food truck and mobile food cart vendors who need to bundle commercial auto and vendor liability insurance. Earning the sixth spot is Allstate insurance, a vendor insurance carrier based in Northfield Township, Illinois, United States, and founded in 1931. Vendor insurance policies the company offers are general liability, stand-alone product liability, and commercial auto coverage. Insuranks states that Allstate has a ranking of 5/10 and is best for vendors with a growing business. Nationwide earned a ranking of 4/10 and comes after Allstate. With K&K insurance, this company offers comprehensive vendor insurance offering short-term policies with no deductibles.According to the ranking, Nationwide is best for vendor insurance with no deductible. Nationwide started in 1925 and is based in Columbus, Ohio, United States. Earning the last place on the ranking is ACT Insurance. Act Insurance is located in Pleasant Grove, Utah, United States. Insuranks gives ACT Insurance a rating of 3/10 and states that it's best for arts and crafts vendors. "Our 2022 ranking is based on the unique perks each company provides as well as pricing. We also looked at customer reviews for further reference. With our ranking, we hope that vendors make the best decision about getting insured", says an Insuranks representative upon being asked about the metrics.

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