Policygenius is an online insurance broker that connects you to personal and business insurance providers. For its commercial insurance products, it partners with CoverWallet to help you get the right policy for the best price. Some of its coverage include commercial auto, general liability, cyber liability, workers’ compensation, and business life insurance. Policygenius is best for those who are gathering and comparing insurance quotes.
Policygenius Pros and Cons
Allows you to compare quotes from multiple insurance carriers all in one place
Does not write its own policies
Platform is free and easy to use
Does not support claims and premium payment processing
Live chat, email, and phone support are available
Who Policygenius Is Best For
- Business owners who are looking to compare quotes from multiple insurance carriers: Policygenius and its partner, CoverWallet, works with a number of reputable insurance companies, such as Berkshire Hathaway, Progressive, Atlas, Hiscox, Guard, and Blackboard. Through Policygenius’ and CoverWallet’s platforms, you can request quotes from all of these providers in just a single application.
Those who are looking for Policygenius costs would be glad to know that it is free to obtain and compare quotes using the platform. It states on its website that it makes money through commissions from the insurance carriers you compare on its site.
Meanwhile, the costs for its commercial insurance offerings vary depending on your business specifics and the type of coverage you are applying for. CoverWallet and Policygenius list some of its recommended commercial insurance policies and pricing, with approximate costs starting from $500.
General Liability and Commercial Property
$500 to $2,500+
Professional Liability and Errors and Omissions
$1,500 to $3,000+
$1,000 to $5,000+
$1,000 to $2,000
$1,000 to $2,000
If you wish to get more accurate pricing for your insurance premiums, you may request a quote on its website. Please note that once you click on “Get quotes,” you will be redirected to CoverWallet’s quotes page. From there, you can fill out and submit a short application form, which shouldn’t take longer than 10 minutes. Then, almost immediately, you will get a comparison of its recommended insurance providers with their quoted monthly premiums, coverage limits, and policy inclusions.
Policygenius Alternatives 2020
Life Insurance Providers
Fast quotes on key person policies and a digital platform for managing coverage
Small business owners looking for a key person policy that pays benefits and accumulates savings
Business owners who have been denied key person coverage by other carriers
Term life for middle-aged individuals with minor to moderate health conditions
People who want to use universal life insurance for wealth accumulation
Universal life policies with affordable term additions
Policygenius’ features are designed with consumers and small business owners in mind. Listed below are some of its most notable features that will assist you with easier insurance shopping.
Variety of Commercial Insurance Coverage
Policygenius, through CoverWallet, offers a wide range of business insurance policies that cater to multiple industries. In addition to the ones already mentioned above, it offers business owner’s policy (BOP), umbrella, ocean and inland marine, special events, business interruption, disability insurance, and much more.
Life insurance is considered to be one of Policygenius’ main offerings and is best if you’re looking for personal insurance for yourself, your family, or employees. What’s good with Policygenius is that it helps you determine the life insurance that you need through unbiased advice. It also helps forecast your insurance costs using its free and easy-to-use insurance calculator.
Insurance Check-ups and Advice
Aside from its online insurance calculator, Policygenius also has its own insurance check-up tool, which comprises a questionnaire that will assess your insurance needs. Based on your answers, Policygenius will then extend insurance advice to assist you better in making a sound decision.
Trust and Security
Aside from the long industry experience, its expertise, recognitions, and superior online financial ratings, Policygenius prides itself on being able to guarantee digital security to its clients. It states on its website that it protects information and certain sensitive fields on its database using encryption mechanisms. Additionally, its sites use HTTPS and Secure Sockets Layer (SSL) protocols, and transmissions from the sites to its servers use Transport Layer Security (TLS) encryption standards or better.
Most Helpful Policygenius Reviews
Policygenius reviews online are overwhelmingly positive. However, these reviews are for its life and other personal insurance products. If you are a past or current Policygenius business customer, please leave a review to help other business owners who are deciding whether or not to work with the company.
Policygenius Frequently Asked Questions (FAQs)
Every business situation is unique, and small business owners should seek out answers before selecting an insurance provider. We’ve gathered some of the most commonly asked questions about Policygenius below and answered them.
How do I file for a claim?
Since Policygenius and CoverWallet are just insurance brokers, you will need to contact your insurance provider to file a claim directly.
What other insurance policies does Policygenius offer?
Most of Policygenius’ insurance products are designed for consumers and nonbusiness customers. These include auto, disability, pet, renters, homeowners, health, jewelry, and travel insurance.
From which insurance carriers do Policygenius and CoverWallet get their quotes?
Policygenius acquires quotes from 13 insurance companies: Prudential, Transamerica, Liberty Mutual, John Hancock, AIG Life Insurance, Banner Life, Brighthouse Financial, Lincoln Financial, Mutual of Omaha, Pacific Life, Principal, Protective, and SBLI. Meanwhile, CoverWallet works with many commercial insurance carriers like CNA, Hiscox, Chubb, and AmTrust.
Our Top Business Insurance Provider Picks
In case you still are not sure if Policygenius is right for you, then this article on the best business insurance brokers is a review of our top choices. In this guide, we reviewed several providers and narrowed them down to our top picks based on key criteria like price options, available carriers, coverage types, and customer service.