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BUSINESS INSURANCE FAQS
We recently surveyed 50,000 small businesses with fewer than 10 employees to determine how much they pay for general liability insurance. General liability insurance protects your business from a third party’s claims of property damage, and bodily injury and associated medical costs. The cost of general liability coverage can vary due to factors like the business’ size, location and industry, as well as the limits and deductibles that are selected. Based on the analysis, the typical cost for general liability insurance was approximately $30 per month.
Specifically, more than 80% of small businesses pay $30 per month or less for general liability coverage, while 95% pay $50 per month or less. Only 1% have a general liability insurance cost of over $100 per month.
The type of business you are in plays a big role in determining how much you will pay for general liability insurance coverage, because different businesses have different levels of risk. For example, a technology consultant may spill coffee on a client’s server, resulting in a loss of data and interruption of the client’s business for which the consultant is liable. A salon owner may be sued by a client who slips and falls in the salon.
A consultant who does most of their work in their own office might pay an average $31 per month, while coverage for a real estate broker may average $39 per month, because they face different risks. Choosing a general liability policy that’s tailored to your business helps you get the coverage you need.
The location of your business plays a role in the cost of your coverage as well. If you do business in an area where the risk is greater, you may be able to manage your costs by adjusting your limits to reflect your actual need. In the example below, two companies have the same monthly payment, but they are different sizes, in different locations, and have different limits.
|IT/Technology consultant||Business consultant|
|State||San Francisco, CA||Dallas, TX|
|Per occurrence limit||$500,000||$1,000,000|
Quotes will vary by business depending on the state, size of the business, and the limits/deductibles selected.
Here are some ways you can reduce the cost of your general liability insurance, making sure you’re getting the most competitive price.
Get a fast, free quote from America’s #1 Online Business Insurer. Or, you can call us at 1-866-283-7545 and speak with a licensed agent, Mon-Fri, 8am-10pm ET.
Rated 4.8/5 for customer satisfaction – 6,592 reviews
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Jill, Iowa City, IA
"Fast as lightening, easy as pie! Unbelievable how fast and easy it was to obtain coverage. Thank you!"
Karen, Raleigh, NC
"Very Affordable coverage! Easy to understand and purchase online. Made my research easy and Hiscox was by far the best value out of all the companies I compared."
Lisa, Denver, Colorado
"Enjoyable, quick, stress free.The process was fast, easy and I like that I can do monthly payments and was able to find my quote online first! The customer service representative was super friendly and extremely helpful as well! I feel safe being insured with Hiscox for my personal training business! Thank you!"
Excellent customer service. Hiscox provides great policy information and easy to understand detailed explanations of insurance terms. This allows for the ability to make a sound and informed business decision. I would recommend this company as a possible insurance source. I would purchase from them again."
Scott, Tampa, Florida
I had already tried several other options to secure General Liability Insurance for my sole member LLC but had not been successful. The Hiscox experience was easy and very affordable."
Laura, Hampton, VA
"Best company ever! They made the process super easy and quick."
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.
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Suite 600, Chicago, IL 60603.
General Liability Insurance