Hiscox insurance Reviews: Are They Good?
In today’s guide, we shall be considering Hiscox insurance reviews. We will provide you with all the information you need to know about this insurance company, so you can tell if they are good or not.
Hiscox is a Bermuda-based worldwide insurance that is publicly traded on the London Stock Exchange. It has nine offices in the United States and sells various business insurance policies through its Hiscox Retail branch. Small businesses that want comprehensive coverage tailored to their sector may find Hiscox to be a good fit.
Lets now consider the Pros and Cons of Hiscox insurance:
Hiscox Insurance Reviews: Pros and Cons
Here are the pros of Hiscox insurance:
- The online quotation generator from Hiscox is extremely convenient and user-friendly. Hiscox will present prospective customers with a complete quote in around ten minutes, which they may manipulate and tweak to obtain the ideal coverage level and pricing. They even sell insurance to customers directly over the internet.
- Since its inception in 1901, Hiscox has mainly concentrated on providing business insurance. This means that their sole objective is to provide their customers with the greatest commercial insurance coverage possible.
- Hiscox offers a comprehensive range of plans and coverages to small, midrange, and big businesses.
- Hiscox has consistently received good average rating scores from all major rating agencies, making them a safe bet for covering your claims.
- Current and prospective customers can find a variety of information on Hiscox’s website, which includes a highly educational corporate blog and podcast.
- Hiscox has received rave ratings from customers, with over 10,000 reviews averaging 4.5 stars.
While Hiscox’s reviews are great, almost all of them can be found on their own website. Though not technically a red flag, the fact that Hiscox has virtually no reviews on any third-party websites is interesting.
Overall, Hiscox receives a 4.8 out of 5 rating. Hiscox is one of the greatest commercial insurance carriers in the United States, because to their singular concentration on commercial coverage. When compared to most competitors, Hiscox’s benefits much outweigh their drawbacks, making them one of the top choices for commercial insurance policies. They have a large choice of policy options to suit any business, and they make finding and purchasing plans simple.
How To Get Quote From Hiscox
While you can always get a quotation over the phone or in person with a Hiscox agent, they also provide a simple and easy-to-use online quote generator tool. Filling out a few easy forms on their website will get you a quote in around 10 minutes.
After receiving your quote from Hiscox, you can alter the deductible and other policy limits to discover the optimal price and coverage level for you. Quotes are available for both monthly and annual prepayments. It’s arguably the best online quote tool a commercial insurance provider has to offer.
What’s The Cost Of Hiscox Business Insurance?
In general, reliable cost comparisons between insurance carriers are difficult to come by. Simply put, there are too many variables to consider. General liability insurance may be less expensive with one provider, while property insurance may be less expensive with another. The level of features available for the price can also differ.
However, unlike most carriers, Hiscox publishes costs for their most popular policies right on their website, as shown below:
- General Liability Insurance: $29.17 per month
- Professional Liability Insurance: $22.50 per month
- Business Owner’s Policy (BOP): $41.67 per month
What Customers Say About Hixcos Business Insurance
Customer reviews are notoriously difficult to categorize. It’s hard to know the rules each reviewer follows or the circumstances surrounding their experience. Anyone who has had to file an insurance claim, in particular, is likely to be in a difficult situation. Nonetheless, evaluating how a typical client perceives a firm might provide insight into their overall customer service reputation.
Hiscox receives exceptional customer feedback, with extremely high average rating scores and well over 10,000 online evaluations. Customer reviews, on the other hand, are noticeably absent from any third-party websites.
Hiscox Insurance Types and Coverage
The following are Hiscox insurance coverage for small business owners:
General Liability Insurance
General liability insurance from Hiscox is available with coverage amounts ranging from $300,000 to $2 million. You can apply online or over the phone, and your policy and certificate of insurance will be sent to you through email, which is convenient if you need to send proof of insurance to a client immediately.
All business owners should have general liability insurance. Bodily harm, property damage to a third party, personal injury, advertising injury, medical expenditures, legal defense costs, and electronic data liability are often covered. General liability insurance can help cover legal bills and settlements if your company is sued. Only third-party claims, such as customer injuries, are covered by liability insurance. It does not, for example, cover theft or property damage.
Professional Liability Insurance
Professional liability insurance from Hiscox is designed to protect companies from actual or alleged errors and omissions in the professional services or advice they give. If your company delivers services to clients for a price, you may need this type of insurance. Hiscox insurance limits range from $250,000 to $2 million, and you may tailor coverage to your company’s and industry’s specific needs. A site designer, for example, may require software copyright infringement coverage, whereas a dog-walking business owner may not.
Business Owner’s Insurance
A Hiscox company owner’s policy combines general liability and property insurance for damage to your own furniture and equipment in up to five locations. For building or business-related equipment losses, deductibles range from $500 to $10,000.
Hiscox business owner’s insurance, on the other hand, does not cover vehicles or boats, any failures to secure personally identifiable information, inaccurate or incomplete advice given to clients, or any professional services provided.
It’s also not offered in Alaska, Delaware, Florida, Kansas, Rhode Island, Washington, or West Virginia for enterprises with more than 10 employees.
Why You Should Use Hiscox Insurance
Overall, Hiscox receives a 4.8 out of 5 rating. Hiscox is one of the greatest commercial insurance carriers in the United States, because to their singular concentration on commercial coverage.
When compared to most competitors, Hiscox’s benefits much outweigh their drawbacks, making them one of the top choices for commercial insurance policies. They have a large choice of policy options to suit any business, and they make finding and purchasing plans simple.
Is Hiscox an issuer or broker?
Hiscox is a major speciality insurer that covers a wide range of commercial and personal risks. The partnerships we have with our brokers are something we take pride in. A partnership predicated on the integrity of the job we do and the experience that our brokers can provide.
What does a cyber insurance policy cover?
Cyber insurance covers your company’s liabilities in the event of a data breach involving sensitive client data including Social Security numbers, credit card numbers, account numbers, driver’s license numbers, and health records.
Is Hiscox a US Company?
Hiscox is a multinational speciality insurer based in Bermuda that underwrites a wide range of personal and business insurance risks. Hiscox UK has over a century of insurance experience, insuring businesses of all sizes. In fact, we insure over 60,000 homes across the United Kingdom.
Hope you enjoyed reading this article on Hiscox insurance reviews. Based on the information we have provided, you can now tell if Hiscox insurance is the best for your business.