Many small business owners ask the same question: How much does general liability insurance cost?
The answer depends on several factors, but the good news is that liability insurance is often affordable for small businesses.
Average Cost of General Liability Insurance
Many small businesses pay between:
$30 and $100 per month
However, higher-risk industries may pay more depending on their exposure.
Factors That Affect the Cost
Insurance companies look at several factors when determining premiums.
Type of Business
Some industries have more risk than others.
For example:
Higher risk:
- Contractors
- Roofing companies
- Landscapers
Lower risk:
- Consultants
- Online businesses
Business Size
Larger businesses with more employees may have higher premiums.
Location
Your business location can also impact pricing.
Coverage Limits
Higher coverage limits typically increase the cost of insurance.
Claims History
Businesses with previous insurance claims may pay higher premiums.
Ways to Lower Your Liability Insurance Cost
Business owners can often reduce premiums by:
- Maintaining a safe workplace
- Choosing appropriate coverage limits
- Bundling coverage in a Business Owner’s Policy (BOP)
- Working with an independent insurance agent
Compare Multiple Insurance Companies
One of the best ways to save money on liability insurance is to compare quotes from multiple insurance companies.
An independent agency can help you find competitive pricing.
Get a Free General Liability Insurance Quote
If your business needs liability coverage, Upstate’s Choice Insurance can help you compare policies from multiple insurance carriers.
Call 864-845-7500 today to get a free general liability insurance quote.