Digital Carrier Next Insurance Launches General Contractor Coverage

November 2, 2018

Small business digital insurance carrier Next Insurance has launched a new general contractor insurance policy that includes general and professional liability insurance for general contractors entirely online.

Next Insurance now offers three coverage plans for general contractor insurance starting at $62.50 per month: Basic, Pro, and Pro Plus. All plans include general liability coverage, which includes bodily injury, property damage, and libel, slander, and defamation claims. Pro and Pro Plus plans also include professional liability insurance coverage. Plans offer varying limits and low deductibles.

The launch of general contractor insurance comes on the heels of the recent launch of Next Insurance’s commercial automotive insurance rollout. In July, Next Insurance raised $83 million in a Series B funding round, bringing its total funding to $131 million in two years.

In May 2018, Next Insurance announced its shift towards becoming a national insurance carrier. As a carrier, Next Insurance is now writing policies independently, giving it more freedom over underwriting, setting prices, and configuring policies.

Next Insurance offers small business insurance policies online with instant, 24/7, online access to certificates of insurance and a new Live Certificate, additional insured, and more with no extra fees. The company is headquartered in Palo Alto and has received a total of $131 million in venture capital funding from Redpoint Ventures, Nationwide, Munich Re, Markel, American Express Ventures, Ribbit Capital, TLV Partners, SGVC, Global Founders Capital and Zeev Ventures.

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