How much does insurance cost for human and social services organizations?

Human and social services organizations pay an average premium of $91 per month, or $1,097 per year, for general liability insurance.

General liability insurance helps cover legal fees related to common third-party lawsuits from clients, including those related to bodily injuries, property damage, and advertising injuries. For example, a client could slip on a wet floor in your office, then sue your business to recoup the cost of medical treatment for their injury.

This is the average general liability policy for social services businesses that buy from Insureon:

Insurance premium: $91 per month
Policy limits: $1 million per occurrence; $2 million aggregate

Among human and social services organizations that purchase general liability with Insureon, 19% pay less than $50 per month and 57% pay less than $100 monthly.

Organizations at higher risk of third-party injury or property damage, such as a large daycare center, will pay more for general liability than low-risk organizations like an after-school book club.

Policy limits determine how much your insurer will pay on covered claims. The per-occurrence limit is the maximum your insurer will pay for a single incident, while the aggregate limit is the maximum your insurer will pay on any claims during your policy period, typically one year.

Higher limits cost more – and provide better coverage.

Most human and social services organizations (77%) choose general liability policies with a $1 million per-occurrence limit and a $2 million aggregate limit. As your small organization grows, you may need to buy more coverage.

Learn more about how your insurance premium is calculated and how to save money on your general liability coverage.

Human and social services organizations pay an average premium of $135 per month, or $1,624 per year, for a business owner’s policy.

A business owner's policy, or BOP, bundles general liability coverage with commercial property insurance to cover both third-party risks and your business property. It typically costs less than purchasing each policy separately.

This is the average BOP for social service businesses that buy from Insureon:

Insurance premium: $135 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

A BOP protects against customer injuries and property damage. It also covers damage to your building, equipment, and inventory. Because of its increased coverage and affordability, it’s the policy most often recommended by Insureon’s agents.

Adding endorsements to your BOP raises the premium, but it can be worth it for the extra coverage. For example, you can include business interruption insurance to protect against financial losses if a fire or storm forces your business to close temporarily.

Small, low-risk businesses are typically eligible for a business owner's policy. Additionally, small businesses that offer social services can often bundle this policy with professional liability insurance at a discount.

Among human and social services organizations that purchase a business owner’s policy with Insureon, 35% pay less than $100 per month and 67% pay less than $200.

Organizations that need more property coverage will pay more for a business owner's policy. For example, a nursing home with state-of-the-art medical equipment will pay more for a BOP than a senior center that offers crafts and games.

Similar to a BOP, a commercial package policy (CPP) bundles general liability and commercial property into a single policy. However, it allows for more coverage options and higher policy limits for your risk exposures. That makes it a good choice for businesses in higher risk industries that might not be eligible for a BOP.

The cost of a business owner's policy is based on a number of factors, including high-value property, where you're located, your business income, the number of employees you have, the amount of property coverage you need, and your specialty.

Human and social services professionals pay an average premium of $99 per month, or $1,191 per year, for professional liability insurance.

This policy is also known as errors and omissions (E&O) insurance or malpractice insurance, depending on your industry. It helps pay for legal costs if you're accused of professional negligence, such as a mistake, oversight, or failure to meet a standard of care.

This is the average professional liability policy for human and social services businesses that buy from Insureon:

Premium: $99 per month
Policy limits: $1 million per occurrence; $3 million aggregate
Deductible: $1,000 

It's common for human and social services organizations to add professional liability to their general liability or business owner's policy for additional savings and protection.

The cost of this policy depends on the services you provide and other key operations factors.

Beyond the services you offer, there are several factors that influence the cost of your professional liability policy, including your location, your claims history, and the policy limits you choose.

Reducing your risks also helps you avoid claims and keep your premium low. This includes clear communication with clients and thorough documentation of all communications and agreements.

The average premium for directors and officers (D&O) insurance for human and social services is $113 per month, or $1,354 annually. This policy can protect your organization’s directors and officers from lawsuits related to misused funds, failure to comply with regulations, or failure to perform official duties.

For example, this coverage would cover defense costs if a volunteer who donated generously at a fundraiser finds out their money was lost in an unwise investment, and decides to sue the board member who was responsible.

It's common for some directors to request a D&O insurance policy before they agree to come on board with your social services business. For this reason, having this coverage is key as it helps attract top talent. Even if your board of directors doesn't request D&O coverage, it's strongly recommended for every human and social services company to obtain it as part of its risk management plan.

The cost of directors and officers insurance is mostly determined by the impact your board's decisions could have on another party's finances. Additional factors that impact your premium include the number of officers and directors you have, your claims history, and the policy limits and deductible you choose.

Learn more about your directors and officers insurance cost and how to save money on your D&O coverage.

The average premium for workers' comp is $145 per month or $1,744 per year for human and social services organizations.

To meet your state’s requirements and avoid penalties, human and social services businesses with employees typically must purchase workers’ compensation insurance. This policy helps cover medical expenses and disability benefits when an employee suffers a work-related injury or illness.

Sole proprietors may choose to buy workers' comp to gain financial protection against work injuries, which health insurance plans can exclude.

Most policies include employer's liability insurance, which covers the cost of lawsuits related to workplace injuries. There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.

Among human and social services organizations that purchase workers’ compensation insurance with Insureon, 36% pay less than $100 per month and another 28% pay between $100 and $200 per year.

The cost of workers' compensation insurance depends on several factors, including the number of employees you have and the level of risk involved with their jobs.

You can save money on your workers' comp coverage by classifying your workers correctly and implementing a risk management plan to minimize employee injuries.

Small business owners, including human and social service professionals, pay an average of $145 per month, or $1,740 annually, for cyber insurance. You might also see this policy called cyber liability insurance or cybersecurity insurance.

Cyber liability insurance covers human and social service professionals from the financial ramifications of a data breach or cyberattack. It can help pay for customer notification costs, fraud monitoring services, and other expenses necessitated by state data breach laws.

The cost of cyber insurance depends on the amount of personal information handled by your human and social services business, such as customer credit card numbers, along with the number of employees who can access that information.

Small business owners, including human and social service companies, pay an average of $147 per month, or $1,762 per year, for commercial auto insurance.

This policy can pay for property damage and medical bills in an accident involving a vehicle owned by your business. It can also cover vehicle theft, vandalism, and weather damage.

Most states require this type of insurance for vehicles owned by a business. For personal, rented, and leased vehicles used for work purposes, look to hired and non-owned auto insurance (HNOA) instead.

The cost of commercial car insurance depends on several factors, including the policy limits you choose, claims history, the value of your business vehicle(s), and the driving records of anyone permitted to drive.