NEXT Insurance vs Square Payments: which one fits your business?
Side-by-side comparison of NEXT Insurance and Square Payments — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: NEXT Insurance wins on our scorecard (8.1/10 vs 7.8/10).
| Scored on | NEXT Insurance | Square Payments |
|---|---|---|
| Right fit for small biz | 8 | 8 |
| Ease of use | 9 | 9 |
| Fees & pricing | 9 | 7 |
| Customer support | 6 | 5 |
| Features | 8 | 9 |
| Monthly Premium | Varies by risk | — |
| COI Fees | $0 (Unlimited) | — |
| Down Payment | Often $0 | — |
| Monthly Fee | — | $0 (Basic) |
| In-person Rate | — | 2.6% + 10¢ |
| Online/Keyed Rate | — | 2.9% - 3.5% + 15¢ |
| Instant Transfer Fee | — | 1.75% per transfer |
NEXT Insurance in one paragraph
NEXT Insurance is the fastest way for a solo contractor to get covered and on the job in minutes, though it lacks the personal touch required for complex claims.
Skip it if: You have a high-risk business or more than 20 employees and need a dedicated agent to manage complex liability exposures.
Square Payments in one paragraph
Square is the gold standard for speed and simplicity, though you pay a premium in transaction fees for the convenience.
Skip it if: Skip it if your business processes more than $20,000 per month, as you'll save thousands elsewhere with interchange-plus pricing.
Frequently asked questions
Which is better, NEXT Insurance or Square Payments?
On our five-axis scorecard, NEXT Insurance scores higher (8.1/10 vs 7.8/10). NEXT Insurance is the fastest way for a solo contractor to get covered and on the job in minutes, though it lacks the personal touch required for complex claims.
Who should skip NEXT Insurance?
You have a high-risk business or more than 20 employees and need a dedicated agent to manage complex liability exposures.
Who should skip Square Payments?
Skip it if your business processes more than $20,000 per month, as you'll save thousands elsewhere with interchange-plus pricing.