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Hiscox Insurance Review

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UPDATED: Nov 30, 2018

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Hiscox Insurance
Financial Strength

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We Recommend Hiscox may be compensated through the links in the post below, but the opinions are our own.

An international company with a long history, Hiscox focuses on products for small businesses. Now writing insurance in every state, they are well established in the American market and handle complex risks.

Hiscox Insurance Summary

Hiscox Insurance was founded in 1901, and now has its headquarters in Bermuda. The company sells products in 11 different countries including America and the UK. Hiscox is an underwriter for the famed Lloyd’s of London and sells products through them in the United States. They serve all of the states as well as the District of Columbia. Hiscox Insurance in the United States is based out of Chicago, IL, but has offices in several states including New York.

Hiscox sells small business insurance products including general and professional liability and business owner’s policies. They are well known for serving the technology, consulting, and marketing industries, but write insurance policies for a wide range of businesses from health and beauty professionals to architects. Policies are sold through independent agents, although the company does sell directly for businesses with less than 10 employees.

Insurance Products

Hiscox Insurance offers a range of products for small businesses of many different types. The business types they write far fall into several categories:

  • Architects and Engineers
  • Bookkeepers
  • Business Consultants
  • Cleaning Services
  • Health, Beauty and Well-being
  • Insurance Agents
  • IT
  • Janitors
  • Landscapers
  • Marketing and PR
  • Photographers
  • Property Managers
  • Real Estate Agents
  • Retail
  • Web and Graphic Designers

General Liability Insurance

Hiscox writes General Liability policies for a wide variety of companies. This type of insurance protects businesses from the various risks that come with running a company and doing business. Hiscox general liability covers you for:

  • Bodily Injury: claims resulting from injuries occurring in your premises or as a result of doing business
  • Property Damage and Data Loss: claims against you for damage you or an employee cause to a customer’s property and for loss of data as a result of your activities
  • Personal Injury: claims for slander, libel, and other forms of injury to the reputation of a person or business as a result of your activities or an employee’s activities

Professional Liability Insurance

This coverage is specifically designed to protect professionals from the type of liability that comes from providing professional advice, writing contracts, and providing services where a mistake or omission could do damage to the client financially or otherwise. Also referred to as Errors & Omissions Insurance depending on the type of business, it is common to businesses such as Real Estate Agents, Insurance Agents, Bookkeepers, and Consultants, among others.

Business Owner’s Policy

Hiscox also offers combination policies that provide both General Liability and coverage for business property. Hiscox Business Owner’s Policies do not include Professional Liability/Errors and Omissions coverage but these can be purchased from the company in conjunction with a package.

Additional Products

In addition to the main small business insurance products, Hiscox also sells Commercial Crime Policies, Non-Owned Auto Insurance, Electronic Data Insurance, and a range of other products designed to meet the specific needs of small businesses.

Hiscox Insurance Rates

Hiscox Insurance offers online quotes as well as quoting through the agents selling their policies. Online quotes are example premiums only as more information about the business is needed to create an accurate quote. Quotes are also available over the phone during business hours. Because businesses differ in their needs and risk levels, rates can vary greatly.

According to the company’s website, Professional Liability coverage starts at $22.50 per month. General Liability premiums start at $19.17 per month, whiles Business Owner’s Policies start at $41.67 per month for combined package coverage. Hiscox offers a variety of discounts to reduce insurance rates, including multi-policy discounts and lower rates for businesses displaying risk management efforts.


Hiscox Insurance offers 24/7 claims reporting online through their website. The company outlines a very specific timeline for claims processing.

Within 1 day of submitting a claim, customers can expect to receive an email with a claim number and contact information for emergencies. Within 2 days, a claims representative is assigned and contacts the insured directly to go over the details of the loss. At the 5-10 day point, the claims representative will have gathered all necessary information and remain in contact with the insured to verify information, and within 10-20 days will notify the insured of the validation of coverage and what the next step will be.

Because of the variety of different claims, the length of time that the insured can expect to work with the insurance company can vary greatly. Hiscox pays out property damage claims within 5 days of confirming the value of the loss and benefit available under the policy. Liability claims differ in length due to the possibility of court proceedings. Hiscox promises transparency in the claims process.

Hiscox claims decisions can be appealed by sending an email to the appeals department at

Consumer Research and Complaints

Hiscox, Inc. has been Better Business Bureau accredited since 2012. The company currently holds an A+ rating based on the Better Business Bureau (BBB) multi-factor system.

The BBB shows only two complaints against Hiscox in the past three years, one of which has been closed in the last 12 months. This is a very low number for an international company of this size. Because the BBB shows a record of the New York office of Hiscox, there may be more complaints directed at other offices, but this remains a strong record for the company.

Financial Strength

Rating Company Grade Financial Outlook
AM Best A Stable
Fitch A+ Stable

Bottom Line

Hiscox Insurance has a very strong history and financial background and is backed by an international reputation and an affiliation with one of the world’s best-known insurance companies, Lloyd’s of London. They are a good choice for small businesses that seek very focused insurance and a company with a specific understanding of business insurance needs. Hiscox is known for assisting companies with complex or unusual insurance needs, making it a good choice for any business needing something beyond the basics.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

Review Date
Hiscox Insurance
Author Rating

About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.


  1. I was seriously contemplating doing business with Hiscox.

    After reading some of the remarks from prior customers, I am definitely not going to consider such a company.

    I can learn from the mistakes other folks made. I’m sorry for the horrible situation people had to experience.

    Once again, thanks.

  2. Purchased an insurance policy for my business on-line last weekend, and today (Thursday) they canceled my policy.

    The woman over the phone, just said that we repair radios and electronics and this is not covered.

    They only have insurance for businesses repairing cell phones and computers.

    Here is my word of caution, do not buy insurance from “unknown” internet brokers.

    Better take your Yellow Pages, and call your local insurance companies.

  3. Poor customer service. I started a policy online and they sent me a notice of cancellation shortly after.

    They sent me emails that only asked to call, but never stated that the business I was insuring (pet grooming) was not covered.

    When I finally had a chance to call they informed me this, canceled my policy, (which I was never covered for) and still charged me two months of coverage.

  4. This company is extremely difficult to work with. After answering all their questions, they cancelled our liability insurance policy.

    I would not recommend this company.

  5. Hiscox? What a joke. After being with them for a year and paying them monthly they tell me they can’t cover me because I do exterior painting other high-risk services.

    Just like alex, I repair decks build decks they said I wasn’t insurable and next time to be transparent with my services.

    When clearly when I first signed up with them I told the agent all the work I do. The agent was so rude and nasty terrible customer service.

    I agree with what Alex said “What a joke! I would have been better off discussing my policy options with my dog” I feel ripped off.


  6. Got a quote from Hiscox for my handyman business for, wait for it… $9338.00/yr
    Unbelievable. I called to ask what I did wrong on my application and they told me it’s because I paint exterior trim and do other high-risk services. Then they told me that actually since I repair decks as well that I’m not insurable at all.
    What a joke! I would have been better off discussing my policy options with my dog.
    0 stars, wtf?

  7. I’ve been a sole proprietor landscape architect for 15 years now. In that time, I’ve used four different insurance companies. Of the four, Hiscox was the only one who had difficulty getting the insurance certificates needed by my clients. Any time I called in to get a certificate for a client, it was an hour-long conversation about why they couldn’t write the certificate the way my client was seeking. They literally told me they could write the policy number on the ACORD certificate, but they couldn’t write the policy coverage amounts in the amounts section of the ACORD certificate. But! they could add notes in the notes section explaining the coverages. Um, OK… No one at Hiscox is even remotely familiar with certificates required by the architecture and engineering professions. Their “service” is a joke. CNA, State Farm, Lloyds of London, all had no problems whatsoever writing the certificates, additional insured, or waivers of subrogation my clients required. Hiscox couldn’t figure out the correct documents to save their lives. After spending several hours on the phone with them, I canceled my policy and went back to a previous insurer. Despite now paying more than double what Hiscox charges, I get the certificates I need with five-minute conversations and simple emails. Hiscox is the epitome of you get what you pay for. Realize how horrendous the “service” is when a sole proprietor would rather go back to paying $3,500 per year vs. the $1,500 Hiscox charges.

  8. I’ve been with Hiscox about 3 years and we recently had to file a claim because of a suit filed against us. Hiscox Insurance claims persons are unprofessional and has given us more problems that the party who sued us. I’m so happy we recorded the phone conversations with the claims attorney. Insurance is low cost but service is also low to poor.

  9. This firm lives in the dark ages. We have been a client for two years now. I just switched credit cards. Instead of having a simple login account where a customer can update their credit card information, you have to physically call someone on the phone and give them the card information over the phone. Not a secure method these days. When I just called to update my credit card, they said not only can I not add the new credit to my file, but I can’t even delete the old outdated credit card they have on file. Their solution. Wait until my charge declines months from now when my bill is due. Just plain stupid in 2019.

  10. 0 Star Review for Hiscox

    I got a GL quote from Hiscox based on a business type they have covered in the recent past. We provided significant detail about the nature of our business. All was great so we continued planning the launch of our new business. When we went to bind we were denied coverage on the existing quote but were told they would underwrite us further if we wanted to accept an 800% increase in the quoted premium…. Needless to say, we are frustrated and feel like everyone should know about this “Bait & Switch” tactic…

  11. I Have Contacted The HisCox Base on your Recommendation . They quoted me 3,970 annual policy only For 300,000 thousand Dollar Coverage . Most place require 1000,000 , 2000.000 aggregate for business especially In state of California . I have QUOTE FROM COLONY it is 2,056 annualy for 1000,000 Coverage . How come you recommending Such over Price Company that only cover 300,000 coverage a time half over what other A rated company Charges ?

    Thank you Amir Hatef .

    • Hi Amir,

      Our recommendations are based on general information. Each insurance company has their own underwriting guidelines, that will ultimately determine their price.

      Another thing to consider is that price is not the only thing to consider when choosing an insurance company. Cheapest isn’t always the best.

      Eric Stauffer

    • I give Hiscox 0 Stars…. What type of company underwrites a business, offers a quote, then at binding indicates that to continue forward there would be an 800% increase in premium?

      • -0 star, end of the year found out I paid 4 times more than my competitors when I actually make less. I have a small garage door company, I got overcharged by Hiscox. They got me with $2150, got ripped off by them !!


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