Next Insurance vs CoverWallet Small Business 2026

Affiliate disclosure: Dareable earns a commission when you purchase coverage through links on this page. Next Insurance is an affiliate partner. CoverWallet/Aon is not. This does not affect our analysis.

CoverWallet is a name that appears in small business insurance searches but its current status creates confusion. CoverWallet was a digital insurance broker for small businesses that was acquired by Aon in 2019. Following the acquisition, CoverWallet's US operations were folded into Aon's commercial insurance distribution infrastructure. The standalone CoverWallet brand as it existed pre-acquisition has largely been absorbed or rebranded. This article explains what CoverWallet currently is, what happened to their small business offerings, and how Next Insurance compares as an alternative.

Quick Verdict

	Next Insurance	CoverWallet (Aon)
What it is	Direct insurance carrier	Formerly a broker marketplace, now Aon infrastructure
Best for	Small businesses needing immediate coverage	Not the standalone small business tool it once was
Starting price	~$25/mo	Varies
Online quote	Yes, instant	Through Aon or successor platforms
AM Best rating	A-	Varies by carrier
Our pick	Current, available, instant coverage for small businesses	Research current Aon offerings before relying on CoverWallet branding

What Happened to CoverWallet

CoverWallet was founded in 2015 as a digital insurance broker for small businesses. They built a marketplace that aggregated quotes from multiple carriers. The platform was well-designed and the brand became known in the small business insurance category.

In 2019, Aon acquired CoverWallet for approximately $100 million. Post-acquisition, CoverWallet's technology and distribution capabilities were integrated into Aon's commercial insurance brokerage infrastructure.

For US small businesses searching for CoverWallet today, the practical situation is: the standalone CoverWallet small business experience has been significantly changed since the Aon acquisition. Some functions of the original platform continue in modified form. If you encounter CoverWallet links or landing pages in search results, verify whether you are accessing a current active product or residual content from before the acquisition.

For small businesses that were CoverWallet customers pre-acquisition: your policy is with the carrier that issued it, not with CoverWallet. The carrier relationship continues regardless of what happened to the distribution platform.

Next Insurance Overview

Next Insurance is a direct carrier writing commercial insurance for small businesses without requiring a broker or marketplace intermediary. They are unaffected by acquisition or restructuring uncertainty. Coverage is available, quoted, and bound through their current active platform.

Coverage options: GL, professional liability, workers comp, commercial auto, tools and equipment, BOP. Over 1,300 business classifications.

Pricing: GL starts around $25 per month. Contractor GL runs $55 to $120 per month. Professional liability for solo consultants starts around $30 per month.

Pros:

• Current, active carrier with stable ownership.
• Quote to certificate in under 10 minutes.
• Wide classification library including most trades and professional services.
• Pay-monthly with no cancellation penalty.
• Mobile COI sharing.

Cons:

• Proprietary policy form (not ISO CGL).
• A- AM Best rating.
• One carrier, no price comparison.

Affiliate link: Get a Next Insurance quote

Head-to-Head Comparison

Availability and reliability: Next Insurance wins simply because it is a currently active, clearly defined product. CoverWallet's current state requires research to determine what you are accessing.

Coverage for small businesses: Next Insurance provides comprehensive coverage for the most common small business insurance needs. If CoverWallet's marketplace functions have been absorbed into Aon's larger infrastructure, the small business experience is different from what it was before 2019.

For small businesses that used CoverWallet: If you have an active policy from a carrier you purchased through CoverWallet, your coverage continues. Your relationship is with the carrier (Hiscox, CNA, or whoever issued the policy), not with CoverWallet. At renewal, you can buy directly from that carrier or switch to Next Insurance or another direct carrier.

For small businesses searching for CoverWallet today: Before purchasing anything labeled CoverWallet, verify that you are accessing a current, active product backed by clear carrier relationships. The safest approach is to use a currently active carrier like Next Insurance, or established broker platforms like Insureon or Simply Business that have clear current operations.

Which Should You Choose?

Choose Next Insurance if:

• You need current, immediate small business coverage without the need to research the current state of a platform post-acquisition.
• You are a contractor, tradesperson, or physical service business needing GL fast.
• You want a direct carrier relationship without an intermediary.

For former CoverWallet customers:

• Your existing policy is with the carrier, not CoverWallet. Coverage continues at renewal.
• At renewal, you can buy directly from your carrier, switch to Next Insurance for simplicity, or use Insureon or Simply Business to compare current market options.

Alternatives to Consider

Insureon: A currently active broker marketplace with clear operations, carrier relationships, and a US team. Insureon is a useful comparison tool for small businesses that want multiple quotes. See our comparison of Insureon vs Next Insurance.

Simply Business: Another currently active broker marketplace. See our comparison of Next Insurance vs Simply Business.

Hiscox: For professional service businesses, Hiscox provides direct carrier access to professional liability and GL. See our comparison of Next Insurance vs Hiscox.

Frequently Asked Questions

Can I still use CoverWallet for a new policy?

The current state of CoverWallet for new US small business policies requires verification. Following the Aon acquisition, the standalone CoverWallet small business experience has changed. Research what is currently available at coverwallet.com before relying on it as a primary source for new coverage.

Is my existing CoverWallet policy still valid?

Your policy is with the carrier that issued it (Hiscox, CNA, or another carrier in the CoverWallet network). That carrier relationship is independent of what happened to CoverWallet as a distribution platform. Your coverage is valid. Renew through the carrier directly at expiration.

Why do I still see CoverWallet listed in insurance comparison articles?

Many insurance comparison articles are not regularly updated. CoverWallet's name appeared in many articles written between 2016 and 2020 when it was an active, well-known platform. Those articles remain indexed and searchable even after the platform changed. This is common in insurance content. Check the publish date of any comparison article and whether the platforms it lists are currently active.

What is the difference between a direct carrier and a broker marketplace?

A direct carrier (like Next Insurance) writes and backs the policy themselves. A broker marketplace (like the original CoverWallet) collects your information and connects you to carriers. Understanding this distinction helps you know who is responsible for your coverage and who to contact for claims.

How do I find the right small business insurance today without relying on outdated lists?

Start with active carriers or platforms with clear current operations: Next Insurance, Hiscox, The Hartford, Insureon, or Simply Business. Check publish dates on comparison articles. Verify that any platform you are considering is currently writing policies, not just a residual web presence from a prior version of the product.

Disclaimer

AM Best rating for Next Insurance: A-. CoverWallet/Aon does not have an independent AM Best rating. Pricing estimates are illustrative. Actual premiums vary by business type, revenue, state, and coverage selections. This article reflects publicly available information about the CoverWallet-Aon acquisition and may not reflect the most current state of CoverWallet's product offerings.

Sources

• Next Insurance: next.insurance
• Aon acquisition of CoverWallet (2019): Aon press release, aon.com
• AM Best ratings: ambest.com
• CoverWallet: coverwallet.com (verify current status at time of reading)