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CoverWallet Review: Compare Business Insurance Online

  • Get free quotes for your business with no commitment to buy
  • Partners include Liberty Mutual, Progressive, Chubb, Markel, and more
  • Includes a digital wallet where you can manage your business insurance

Figuring out what kind of business insurance your small business needs, finding the right insurance provider, and managing a variety of commercial insurance policies can be hard. That’s where New York-based insurance broker CoverWallet, recently acquired by AON, comes in.

CoverWallet provides a free insurance assessment, connects you to insurance companies that can provide the coverage you need, and helps you manage all your insurance policies in one place. 

In this review:

BBB rating A
Minimum rate $39/month
Underwriter or brokerBroker
Contact Phone at 646-844-9933; Online Chat; or Email [email protected]

What is CoverWallet?

CoverWallet is like a concierge for your insurance needs: an online broker that facilitates the purchase of  a business insurance policy. The site will provide a free assessment of the types of insurance your company needs and connect you to insurance carriers to buy policies.

CoverWallet offers:

  • Free instant insurance quotes 24/7 so you can find out how much your coverage will cost.
  • The option to talk to a licensed insurance agent if you have questions.
  • The ability to buy and manage policies online—you can even manage claims and check billing information for each policy through CoverWallet’s digital wallet.
  • Instant proof of insurance emailed to you after you get covered.

Pros & cons of CoverWallet


  • Find out the insurance your company needs with CoverWallet’s free insurance assessment.

  • Manage all your insurance policies in one place, which makes it easier to review your coverage, pay your bills, and make claims.

  • Get help from licensed insurance agents if you need assistance understanding your policies.

  • Get quotes instantly from multiple providers to find affordable coverage.


  • CoverWallet is just a broker. It doesn’t provide insurance itself, so you’re dependent on its partners to offer the coverage you need.

  • Because it makes money through commissions earned when customers buy a policy, you may not always see all options for coverage or the best rates for your needs.

  • CoverWallet has only a B rating with the Better Business Bureau, and customer reviews include complaints (some, but not all, resolved) about problems including policies that didn’t provide expected coverage and being charged for premiums after canceling coverage.

Eligibility & application requirements

CoverWallet helps businesses of all types find out what kinds of insurance they need. Whether you are a sole proprietorship, an LLC, a partnership, or a corporation, CoverWallet can help you obtain the right type of business insurance.

CoverWallet also helps businesses across all industries find essential coverage. This includes such varied industries as shipping companies, businesses that sell liquor, and companies that primarily do business on the internet.

One of the major benefits of CoverWallet is that it assesses the kind of coverage you need based on your business and helps match you to its partners that offer the right policies. Each insurer, however, will determine whether your company is eligible for the coverage you’re looking for. 

How to apply

To apply for business insurance through CoverWallet, simply visit the website and select “Get free quotes.”

You will need to input this basic information:

  • Your email address
  • The type of policies you’re looking for 
  • The address of your business
  • Your company name
  • The year your company started
  • Your years of experience
  • Your company’s projected annual revenue
  • Your business locations
  • How your business is structured (Individual, corporation, LLC, LLP, nonprofit, partnership, or trust)
  • Your business industry
  • Primary contact information

Once you’ve submitted your information, it will take just a few minutes to get quotes both on the CoverWallet website and sent to you via email. You can follow up with insurance providers to buy coverage if the quotes seem affordable to you. 

CoverWallet may also provide your information to insurance carriers to reach out to you with additional information about their policies.

Does CoverWallet underwrite its own policies?

CoverWallet does not underwrite its own policies. Instead, you will be matched with insurance partners including:

  • Atlas
  • Berkshire Hathaway Guard
  • Blackboard
  • Chubb
  • CNA
  • Employers
  • Hiscox
  • Liberty Mutual
  • Progressive
  • Starr Companies
  • Travelers

What types of coverage can I get through CoverWallet?

You can buy these insurance types through CoverWallet:

  • General liability insurance
  • Workers’ compensation
  • Business Owners Policy
  • Commercial property
  • Professional liability
  • Commercial auto
  • Umbrella insurance
  • Errors & Omissions coverage
  • Directors & Officers insurance
  • Employment Practices Liability Insurance
  • Inland Marine
  • Product Liability
  • Special Events
  • Cyber Liability
  • Liquor Liability

Situations where CoverWallet coverage may make sense

CoverWallet is not made to serve large-scale enterprises, but could be a good fit for small- and medium-sized businesses. It could be particularly helpful if:

You’re a startup

When you’re first starting a company, you have a million tasks to complete. Spending a ton of time figuring out the insurance you need probably isn’t at the top of your to-do list. 

CoverWallet’s free assessment and the guidance the site provides can save you crucial time and ensure you’re protected. 

You’re selling your business

Often when you sell your company, you are required to provide proof of sufficient insurance to protect new owners—and quickly. CoverWallet helps you to get covered fast and get timely proof of insurance, so you won’t delay the sale. 

You’re signing a new client

Sometimes, clients require you to have certain insurance coverage before they’re willing to do business with you.

CoverWallet helps you to get the necessary protection in place and get proof of insurance fast so you can solidify your relationship with your new customer without delay. 

You have lots of liability

Different kinds of companies have different levels of risk. Restaurants, for example, have on-site customers, so they need liability insurance to protect themselves if a customer gets hurt on the premises. 

Trucking companies require commercial truck insurance in case a shipment of goods gets damaged while in transit.

CoverWallet helps you identify all possible areas of vulnerability and get the right coverage in place quickly so you aren’t left unprotected.