NEXT vs Hiscox: small business insurance compared

How each one works

NEXT was founded in 2016 in Palo Alto, California, and its site says it now serves more than 750,000 U.S. small businesses across more than 1,300 professions. ERGO, the primary insurance arm of Munich Re, announced on July 1, 2025 that it had completed the acquisition of NEXT, which the deal valued at $2.6 billion, and the company now calls itself ERGO NEXT Insurance. Its licenses page explains that Next Insurance, Inc. and its agency subsidiaries refer business to affiliate Next Insurance US Company, admitted in 40 states and DC, and to the non-affiliated State National Insurance Company and National Specialty Insurance Company. Its subsidiary AP Intego also places business with other carriers.

Hiscox USA is part of the Hiscox Group, which says it is listed on the London Stock Exchange, headquartered in Bermuda and traces its roots to 1901. In the U.S., Hiscox Insurance Company Inc. is a Chicago-domiciled insurer that Hiscox says is admitted or licensed in all 50 states and DC, and Hiscox Inc. acts as its general agent. Hiscox says it has more than 600,000 small business customers.

NEXT and Hiscox side by side

The table summarizes the published facts as of October 2026. Both say coverage is not available in all states or for every type of business, so confirm eligibility on a current quote.

Coverage differences

The core lines overlap: both sell general liability, professional liability or errors and omissions, a business owner’s policy and workers’ compensation. The differences are in who stands behind some lines and what is sold as a standalone product.

Workers’ comp at Hiscox is underwritten by Hartford Fire Insurance rather than Hiscox, according to its workers’ comp page. Commercial auto is not a Hiscox product: its auto page says customers are referred to GEICO, whose companies underwrite the policy. NEXT’s commercial auto page says it partners with Progressive for those policies and that commercial auto is not available through its appointed agents.

Cyber is packaged differently. NEXT sells cyber liability as an add-on to its general or professional liability policy and says it starts at $4 a month on general liability for some low-risk businesses. Hiscox lists cyber security insurance as its own product. NEXT also lists tools and equipment, liquor liability and product liability coverage, which suit trades, bars and sellers of physical goods.

Who each tends to fit

NEXT’s product list leans toward trades and hands-on businesses: contractors, cleaners, fitness professionals, restaurants and retailers, with tools and equipment coverage that contractors and cleaners can add to general liability. Its site says discounts are available when you bundle policies.

Hiscox’s small business pages lean toward professional and office-based work: its general liability price examples are an IT consultant and a business consultant, and its coverage guide recommends professional liability for any business that provides a professional service or regularly gives advice. Its broker program covers specialty classes including allied healthcare, architects and engineers, media, technology and management liability, which may suit a firm that needs a specialist liability policy placed by a broker.

If you run vehicles or have employees, check where those lines would come from. At either company, the auto policy and, at Hiscox, the workers’ comp policy are issued by a different insurer from your liability coverage, which affects claims contacts and renewal dates.

Buying, prices and claims

Both quote online in minutes. NEXT says you can get a quote and buy in less than 10 minutes and that general liability starts at $19 a month for some low-risk businesses, based on existing premiums as of April 1, 2026. Hiscox says its general liability starts at $30 a month and offers up to a 5% discount when you bundle general liability with professional liability or cyber. Starting prices apply only to the lowest-risk classes, so compare quotes for the same limits and deductible.

Each describes its own claims process. NEXT says you file a claim through your online account, a dedicated claims advocate is assigned and its goal is to respond within one business day. Hiscox takes claims online 24/7 or by mail, and by phone from 7 a.m. to 10 p.m. Eastern on weekdays and 8 a.m. to 5 p.m. on weekends. Policies from a partner insurer, such as auto or Hiscox’s workers’ comp, are claimed with that insurer.

Why comparing several quotes matters

NEXT and Hiscox price the same business differently, and each depends on partner insurers for some lines. Compare the same per-occurrence and aggregate limits, deductibles and endorsements, and check the insurer named on each policy before you buy.

An independent broker such as Florin can compare quotes from several insurers across your liability, property, auto and workers’ comp needs in one review.