About Hiscox Small Business Insurance
Hiscox specializes in insurance for companies with fewer than 10 employees, and it has an A grade from AM Best for financial strength. Plans are customizable and may include coverage for general liability, professional liability, errors and omissions, cybersecurity, business owners and workers’ compensation.
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I wish I had done more research as I see other small business owners with similar experiences with Hiscox. In short our office had damage from a storm, claim placed in April 2022. After several ignored emails and voicemails and twice trying to get someone to help by getting the supervisor involved, which I never received a call back from either voicemail I left, I received an email denying the claim. In order for me to run a small business I have to know the vendors I partner with are going to be there when needed. I have been a customer for almost 10 years. My first time trying to make a claim and waiting until November 2022 just to get a vague email with no other communication is unacceptable from a company that customer service plays such an important role.
DO NOT TRUST this company! If you have any claims they will do everything to not honor the policy. We had two claims in 7 years with this company and the first claim took 19 months to resolve. The second claim nearly cost me my business. Things can and do happen in any business. They cancelled my policy during the 2nd claim process and that’s fine / however as a business owner we very insurance for protection and peace of mind. Do NOT chose this company for your insurance needs. They have horrible claim adjusters and you spend hours hunting them down. Not worth the headache when it matters.
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So one of my employees was cleaning blinds and broke them, I told the customer that we will take care of it because I’m insured. I call Hiscox, at first the claims woman states that it’s not covered because it was part of her duties and if it broke it’s not covered. Then I said it was not part of her duties. She just so happens to have gone in that area, clean the blinds and it fell apart. She says even though it wasn’t part of her duties she was cleaning it and it’s not covered. Terrible, it's like I'm paying for something that has no purpose.
Hiscox is slow and not responsive to business claims. Waiting over a month to get a call back from a claims specialist. Called every week for over a month until my claims specialist was available to speak with me. When he did call back all he had to say is that I cannot file a claim against myself due to damages. The contractor or owner of the property has to file the claim and no guarantees they will cover the damages. Please do your research and ask your claims specialist who and what they cover before hiring them. If you try to file a claim against yourself be prepared to receive a denial letter. The client or contractor you are doing business for has to file the claim. Always ask questions before hiring this company, make sure you have them go over the policy to make sure you know what's covered and not covered.
This company by far is the worst company for business coverage. Hiscox took me as a client for my home inspection business. I have been doing home inspections since 2006. Never had an issue or a claim. I had a client that felt I missed something and wanted me to file a claim with my insurance. So I went ahead and filed the claim even though I didn't feel I was at fault. I find out that Hiscox doesn't cover home inspection real estate transactions. Interesting to know when 100% of my transactions are real estate transactions. Since my claim and me complaining about the coverage, Hiscox has now changed their coverage to "code inspections". This company is a joke.
If contractor/company that you're considering to hire is insured by Hiscox RUN in the other direction. We had a company insured by them damage our property and not complete job, filed with Hiscox and they denied it claiming it was not covered by policy. Why bother making sure a company has insurance if it's not worth the paper it's written on. We were willing to settle for $300 via BBB and Hiscox said no... Apparently it's not worth such a small amount for good customer relations.
Uniqua was my customer service rep. She was awesome. She explain the policy. Took her time with me. From the moment we spoke I knew that she knew the insurance business. I would highly recommend this insurance company to anyone that ask me, "Who is your insurance company." Thank you Uniqua. You did great by me and my business. Orlando
I had Hiscox insurance for two years. I have been in business for 8. The first year we had a problem with a new mower we had just bought and paid $12,500 for, it caught on fire. I thought I might have to file a claim but the manufacturer took responsibility because it turned out to be a defect. So I called my agent and told them I didn't need to file a claim. This past year I had two small claims within a week of each other totaling around $600. My insurance agent said it wouldn't affect my premiums or coverage. (Keep in mind I pay almost $700 a year for my insurance.) We fixed the issue and continued on..
Right when my policy was about to renew they sent me a letter saying they was cancelling my coverage. So I called to see what was going on and the agent that answered said they were terminating my policy because I had three claims in one year... So I asked what's the other claim?? I only know of two small ones. And he said because I thought about filing a claim even though I cancelled it (It was not that same year. It was the year before.) and they paid nothing that I have three claims in one year. So I've paid a lot of money just for them to take it and run and cause me problems getting insurance with anyone else. If you are a small business I STRONGLY recommend you shop elsewhere! They will be good until you need to file a claim then they won't pay out or they will pay and leave you uninsured.
BEWARE! Do not use HISCOX for small business liability Ins. They are unprofessional, rude, disorganized, rude, incompetent, rude and you will be sorry to have wasted your time and money with such a horrible company! Worst company we have ever felt with in nearly 20 years of business????
Absolute worst E&O coverage... We moved from AXA-XL based on the recommendations of our agent (who just wanted to make a quick commission), and had a very bad experience with Hiscox when it came time to file a claim. Now we're trying to cancel the policy. Awful company, avoid!!!
Hiscox Small Business Insurance author review by Kathryn Parkman
Hiscox is a provider of small business insurance. It provides professional business services that let buyers purchase insurance online or over the phone. The Hiscox Group is a global insurer offering over 100 years of experience in insuring businesses.
Financially strong: Hiscox has an 'A' Excellent rating by A.M. Best, which is a national credit ratings company that focuses on insurance companies.
Tailored plans: There is not a "one-size-fits-all" plan. Rather, Hiscox tailors small business insurance coverage to each business individual's needs.
Direct Buy: Hiscox simplifies the procedure by allowing businesses to get quotes and buy insurance directly from the insurer, as well as from licenses advisers.
Customer service: Because the company does not have local offices, they take extra steps to provide quality service online and through their call center that makes it easy to reach human help.
Catered to small businesses: The Hiscox Small Business unit specializes in working with professional services businesses with fewer than 10 employees.
Hiscox Small Business Insurance Company Information
- Company Name:
- Hiscox Small Business Insurance
- Year Founded:
- Hiscox, PO Box 1524
- Postal Code:
- United States
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