CoverHound expands into small business insurance
US insurance comparison site, CoverHound has expanded into the small business sector. Initially the start-up will target businesses with fewer than 20 employees offering liability cover, cyber insurance, commercial auto cover and business owners policies, with the aim of expanding to cover larger companies in due course. CoverHound also plans to launch CyberPolicy.com later this year, offering cyber insurance and cybersecurity tools to small businesses.

Online insurance marketplace CoverHound expanded its offerings today. In addition to offering insight into auto, homeowners, and renters insurance, customers now can use CoverHound to find insurance for their small business.

The new business suite allows users to compare rates of custom commercial coverage. Currently, the insurance offerings are targeted toward businesses with fewer than 20 employees, but the company has plans to expand to cover larger companies. At launch, carriers include:

Chubb

Liberty Mutual

Berkshire Hathaway Direct

Hiscox

Progressive

Employers

More carriers will be available in the future. To get a quote, customers start by answering questions on the company’s web or mobile interface. Then they are connected by phone to a licensed insurance adviser to match them with the right coverage, including:

General liability

Professional liability

Business owners policy

Commercial auto

Cyber insurance

“Having once been a startup ourselves, CoverHound understands the growing pains of a small business,” said CoverHound CEO Keith Moore. “We’ll be there every step of the way to support business owners and ensure they get the coverage they need to satisfy third-party and legal requirements, and protect their property, customers and investment.”

CoverHound CEO and founder Basil Enan and CMO Keith Moore demoed the company’s mobile app at FinovateFall 2013. In 2015 the company closed a $33 million Series C funding round which brought its total funding to $53 million and boosted its valuation to $100 million. Later this year, CoverHound will launch CyberPolicy.com, where small businesses can shop for cyber insurance and cybersecurity tools. The company was founded in 2010.