Next Insurance vs CNA: A Comprehensive Small Business Insurance Comparison

Choosing the right insurance provider is one of the most critical decisions you'll make as a small business owner. With

5,358,600 small businesses operating in the United States in 2021, the demand for accessible, affordable coverage has never been higher. Two prominent names in the small business insurance market—Next Insurance and CNA—offer distinctly different approaches to protecting your company. This comprehensive comparison will help you understand which provider might be the best fit for your business needs [1].

Understanding the Two Providers

Next Insurance: The Digital Disruptor

Next Insurance has emerged as a tech-forward insurance provider specifically designed for small businesses. Founded in 2016, the company operates entirely online, offering instant quotes and digital policy management. Next Insurance focuses on serving sole proprietors, freelancers, and small businesses across various industries including contractors, consultants, photographers, and fitness professionals.

The company's business model centers on simplicity and speed. Business owners can obtain quotes, purchase policies, and manage their coverage entirely through a mobile app or website, often completing the process in minutes rather than days.

CNA: The Established Industry Leader

CNA is the seventh largest commercial insurer in the United States and provides property and casualty insurance products and services for businesses and professionals in the U.S., Canada, and Europe. With roots dating back to 1897, CNA brings more than a century of insurance expertise to the table [2].

In 2011, CNA introduced the Customer Segment strategy, focusing on key customer segments including construction, financial institutions, healthcare, manufacturing, professional services, real estate, technology and small business. This established carrier typically works through independent agents and brokers, offering more personalized service and complex coverage options [2].

Coverage Options Compared

Business Owner's Policy (BOP)

Both Next Insurance and CNA offer business owners policy coverage, which is the foundation of small business insurance.

A business owner's policy is a "package" product that typically includes property, business interruption/continuation and liability insurance, and for many small businesses, purchasing a BOP can be a less costly option than buying individual policies [3].

Next Insurance's BOP Approach:
Next Insurance offers streamlined BOP packages tailored to specific industries. Their policies are designed for businesses with straightforward needs and typically include general liability, commercial property, and business interruption coverage. The coverage limits and options are more standardized, which helps keep costs down and the purchasing process simple.

CNA's BOP Approach:
CNA provides more customizable BOP options with higher coverage limits and more extensive endorsement options. Their policies can be tailored to businesses with complex operations or unique risk exposures. CNA's BOPs often include additional coverages and higher limits that may not be available through digital-first providers.

General Liability Insurance

In a survey by the National Federation of Independent Business (NFIB), 30 percent of small business owners ranked the cost and availability of liability insurance as their second most important insurance concern, with health insurance ranked first and workers' compensation ranked third [3].

Both providers offer commercial general liability (CGL) coverage, but with different approaches. Next Insurance typically offers coverage limits ranging from $1 million to $2 million per occurrence, which is sufficient for most small businesses. CNA can provide significantly higher limits and more specialized liability coverages for businesses with greater risk exposures.

Workers' Compensation Insurance Workers' compensation is mandatory in most states for businesses with employees.

Workers' compensation insurance covers employee claims for work-related injury or loss, though business owners, independent contractors, domestic employees in private homes, farm workers and unpaid volunteers typically are exempt from workers' compensation eligibility [3].

Next Insurance:
Next Insurance offers workers' compensation in select states through their digital platform. The application process is streamlined, with instant quotes available for many industries. However, coverage may not be available in all states or for all business types.

CNA:
CNA provides workers' compensation coverage nationwide with more extensive options for businesses with complex payroll structures, multiple locations, or high-risk operations. Their policies often include safety programs and loss control services.

Professional Liability Insurance

Professional liability (errors and omissions) insurance protects businesses against claims of negligence, mistakes, or failure to deliver promised services. Both providers offer this coverage, but with different target markets.

Next Insurance focuses on common professional services like consultants, IT professionals, and creative professionals with straightforward coverage needs. CNA offers more robust professional liability options for higher-risk professions and can provide higher coverage limits for established firms.

Pricing and Affordability

Next Insurance Pricing Structure

Next Insurance's digital-first model allows them to offer competitive pricing, particularly for sole proprietors and very small businesses. Policies often start as low as $20-30 per month for basic general liability coverage. The company's automated underwriting process reduces overhead costs, and these savings are typically passed on to customers.

The pricing is transparent, with instant quotes available online. Business owners can adjust coverage limits and deductibles in real-time to see how changes affect their premium.

CNA Pricing Structure

CNA's pricing tends to be higher, reflecting their more comprehensive coverage options, established claims infrastructure, and personalized service through agents. However, for businesses with complex needs or higher risk exposures, CNA's pricing may actually be more competitive when comparing equivalent coverage levels.

CNA policies are typically quoted through independent agents, which means pricing can vary based on the agent's relationship with the carrier and the specific package assembled for your business.

Digital Experience vs. Personal Service

Next Insurance's Digital Platform

Next Insurance excels in digital convenience. Business owners can:

Obtain instant quotes 24/7
Purchase policies immediately without agent interaction
Access certificates of insurance instantly through their mobile app
Manage policies, file claims, and make changes entirely online
Receive immediate policy documents via email

This approach is ideal for tech-savvy business owners who prefer self-service and value speed and convenience over personal consultation.

CNA's Agent-Based Model

CNA operates primarily through independent insurance agents and brokers who provide personalized service. This model offers:

Face-to-face consultations to assess complex business needs
Expert guidance on coverage selection and risk management
Assistance with claims throughout the process
Ongoing relationship management and policy reviews
Access to risk management resources and loss control services

For business owners who value personal relationships and expert guidance, particularly those with complex operations, CNA's agent-based approach may be preferable.

Claims Handling and Customer Service

Next Insurance Claims Process

Next Insurance offers a streamlined digital claims process. Policyholders can file claims through the mobile app or website, upload photos and documentation, and track claim status in real-time. The company emphasizes quick response times and aims to resolve straightforward claims rapidly.

However, for complex claims requiring extensive investigation or negotiation, some customers may find the digital-only approach limiting compared to having a dedicated agent advocate on their behalf.

CNA Claims Process

CNA has an established claims infrastructure with dedicated claims adjusters and extensive experience handling complex commercial claims. Policyholders typically work with their agent who coordinates with CNA's claims department, providing an additional layer of advocacy and support.

CNA's claims handling is particularly strong for large, complex claims or situations requiring extensive investigation, negotiation, or litigation support.

Industry-Specific Considerations

Best Industries for Next Insurance

Next Insurance is particularly well-suited for:

Sole proprietors and freelancers
Contractors and handymen
Photographers and videographers
Fitness instructors and personal trainers
Consultants and IT professionals
Event planners and caterers
Cleaning services

These businesses typically have straightforward insurance needs and benefit from Next Insurance's quick, affordable, digital-first approach.

Best Industries for CNA

CNA is better positioned to serve:

Established businesses with multiple locations
Manufacturing operations
Healthcare facilities
Financial institutions
Construction companies with large projects
Professional services firms with significant liability exposures
Businesses requiring specialized coverages or high limits

For a detailed analysis of each provider, check out our Next Insurance review for small business and [CNA small business insurance review](https://insura.ai/articles/cna-