Liability Insurance Cost

• 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.

• 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.

• 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.

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+li...

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?

Today's Featured Cost Articles

It's not too late for a flu shot. Need help uncovering your driveway? You may need a snow removal service. A space heater can keep you warm on chilly December nights. If you are planning a trip to the slopes this winter, you might needs snow tires. Who is planning your big holiday event? A catering company may be able to help.

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

Bat bite Paid: 0.00 On October 25th I was bitten by a bat during mid morning, animal control told me to get the rabies shots due to the fact that several rabid bats had been found in the area... [more] -Rita W Rabies Vaccine Cost 7 stitches to shin Paid: 371.00 My son had 7 Stitches to his shin he fell in the woods and was cut by a old fence. They were super nice in and out, in about one hour. 155.00 for the visit and the remainder was for the Stitches ... [more] -Tavanna Stitches Cost 2 Car Garage Paid: 1700.00 Looks FANTASTIC! The guys done a fabulous job and did it in one day! Highly recommend! 615-739-2146... [more] -Chad Dunn Epoxy Flooring Cost Commercial Real Estate Brochure Paid: 200.00 Quick turn around time! 4 revisions with PDF and hyperlinks embedded. Website management available too... [more] [email protected] Graphic Designer Cost Fairly priced Paid: 0.00 My baby boy choked on some food this evening. While we were on the phone to the emergency services the blockage cleared. Ambulance was sent anyway to make sure everything was ok... [more] -Thank you NHS Ambulance Cost Ripped Off Paid: 46.00 I asked the nail technician how much for a full set. He said he will let me know as soon as he gets the nails on my fingers (WTH?) ... anyway on the board the price said $28 and up...... [more] -Kay. Manicures and Pedicures Cost