Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Small Business  > Liability Insurance

Liability Insurance Cost


How Much Does Liability Insurance Cost?

 
low costLow: $300-$700high costHigh: $1,000-$1,500+
post E-mail post Post   Comments (3)
  Typical costs:
  • Premiums for liability insurance vary widely depending on the size of the business (in square footage and/or payroll), the risks involved and the exact type of coverage. A commercial liability policy for a home-based child care business runs $350-$700 or more a year, according to the National Network for Child Care[1] . Professional liability coverage for a photographer runs $1,000-$1,500 annually, according to the Professional Photographers of America.
Related articles: Workers Compensation Insurance, Dental Insurance

What should be included:
  • Basically, general liability insurance covers medical or other costs if someone or their property is injured at your place of business, and legal expenses if you are sued for these liabilities. A general liability policy can also cover product liability, which is needed if you manufacture or assemble a product that could cause harm in any way. Product liability insurance may be sold separately, and the cost depends heavily on whether you?re selling soft rubber balls or high-powered gas mowers.
  • Professional liability insurance covers you if someone claims you failed to properly perform your duties or services. This type of policy is usually purchased independently of general liability insurance. AllBusiness.com[2] describes the different types of liability insurance, and offers guidelines for insuring a home-based business.
  • The Entrepreneuers' Help Page[3] calls general liability insurance "as close to a must have as you may get when operating a business," and presents an overview of the common types of insurance needed by most small companies.
Shopping for liability insurance:
  • Ask your insurance agent about liability coverage for your type of business. If you don't have an agent, Hoovers.com gives links to companies registered to sell liability coverage. Or check with your state insurance department for a list of registered companies in your area. The National Association of Insurance Commissioners gives links to state offices[4] and a way to search for financial details and complaint histories for specific firms.
  • Online quotes are available from NetQuote.com[5] and MostChoice.com.
post E-mail post Post   Comments (3)
CostHelper News


3 Ways to Have the Government Pay You Back for Your Energy Efficient Upgrades
Any renovations or upgrades made to your home this year that included energy-efficient appliances could be eligible for some federal energy tax credits. But it's not just appliances. || Posted December 9 2013


7 Lesser-Known Discounts for the 50+ Crowd
As they age, members of the Baby Boomer generation don't like to admit that they're senior citizens, but they love getting discounts. It's kind of a quandary, because some of the best deals available are reduced prices for older folks. || Posted October 21 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
Commercial Liability Insurance w/ tool rider
Amount: $999.00 per year
Posted by: Misha8888ify in Glford, NH.Posted: May 10th, 2012 04:05PM
Type of Business: Plumbing & HeatingAmount of Coverage: 1MM, 3MM Aggregate
Insurer: MerchantsPolicy:
Was this post helpful to you?   yes     no Report prohibited or spam
Commercial General Liability Insurance
Amount: $500.00 per year
Posted by: Cassndra Manago in Stockbridge, GA.Posted: November 18th, 2009 05:11PM
Type of Business: Behavioral Health & DDAmount of Coverage: 3000,000.00
Insurer: True Happiness Inc.Policy:
Insurance certificate listing the State of georgia as Certificate Holder.
Was this post helpful to you?   yes     no Report prohibited or spam
Liability Insurance
Amount: $0.00 per year
Posted by: Byron James in Florida, IN.Posted: April 29th, 2009 01:04PM
Type of Business: Transporting the sickAmount of Coverage: $300,000
Insurer: New BusinessPolicy: NONE
I am starting a new business and need liability coverage.
Was this post helpful to you?   yes     no Report prohibited or spam


 

Comment On Your Experience With Liability Insurance
 
Subject:  *
Amount Spent:  * per year
Type of Business: Amount of Coverage: 
Insurer: Policy: 
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www.nncc.org/Business/cch.liability.html
  2.  www.allbusiness.com/finance/insurance-liability-insurance/2601-1.html
  3.  www.tannedfeet.com/business_insurance.htm
  4.  www.naic.org/state_web_map.htm
  5.  www.netquote.com/?ProductCategory=Business&NQID=12170&Status=G_GB00259_business+liabili...
More Small Business Topics
Check Out All Costs for Small Business How Much Does a Point of Sale System Cost? How Much Does a Bookkeeper Cost? How Much Does a Fax Machine Cost?

Search Thousands of Topics on CostHelper.com



Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Brazillian Knot
Paid: 275.00
I tried brazillian knot for the first time and it hurt soooo bad!!!! Never Again!!! I had to cut them out right away. I kept them in for 2 days and then that was it, I could not take it... [more]
-annejevas2
Hair Extensions Cost
Sleep Study
Paid: 6400.00
Wow what a rip off will never go to that hospital again. I will go shopping for my next procedure... [more]
-
Sleep Apnea Treatment Cost
Cost of a deck
Paid: 5000.00
I was wondering if I paid to much for my 10X25 rectangle deck with treated wood? It has 3 stairs about 3 feet in width and 25 feet of railings... [more]
-LB
Deck Cost
Rabbit costs
Paid: 10.00
The dwarf cross, Sunday(male, neutered) was a CL freebie. Womans cat brought 2 approx 3-4 wk old babies, dont know where mother was. He was soooo tiny, dehydrated, & a bit cold... [more]
-shawnna Stone
Rabbit Cost
MRI FH Outpatient/CT FH Outpatient
Paid: 319.80
MRI Amount billed by hospital $9025.82!!!!!January 2014CT FH- outpatient - billed $5146... [more]
-Janie D
MRI Cost
Is my pricing high?
Paid: 1400.00
Just saw the dentist today. Informed I am in need of two extractions and two bone graphs. My insurance does not cover bone grafts... [more]
-
Dental Bone Graft Cost