How much does public speaker insurance cost?

Public speakers pay an average of $31 per month, or $368 annually, for general liability insurance. This policy is sometimes called public liability insurance.

General liability insurance covers common third-party lawsuits related to bodily injuries and property damage. For example, an audience member could trip over your sound equipment and suffer a concussion, or break their smartphone when they trip and fall in a dark auditorium.

Below is the average general liability policy for public speakers who buy from Insureon:

Insurance premium: $31 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

The per-occurrence limit is the maximum your insurance company will pay for a single covered incident, while the aggregate limit is the most the insurer will pay for all covered claims during the policy period, typically one year.

The cost of general liability insurance depends on factors such as the coverage limits and deductible you choose, whether you work from home or an office, your business income, and any additional insured endorsements for venues or staff.

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

Public speaking businesses pay an average of $40 per month, or $482 per year, for a business owner’s policy (BOP). Small, low-risk public speaking businesses often qualify for this coverage.

A business owner's policy 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 type of coverage separately.

A BOP protects against accidents that injure clients and audience members, or damage their property. It also pays for repairs if your office or business personal property is damaged by a fire, storm, or vandalism. Because of its increased coverage and affordability, it’s the policy most often recommended by Insureon’s agents.

This is the average BOP for public speakers who buy from Insureon:

Premium: $40 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

This policy covers your main business location and everything in it—but you'll still need tools and equipment insurance (a type of inland marine insurance) to cover microphones, portable speakers, and other business equipment that you bring to venues or store off-site.

Policyholders may see higher costs if they choose to add endorsements to their BOP. For example, business interruption insurance would cover financial losses if damage caused by a fire or other covered property claim forces you to temporarily close your business.

The cost of a business owner's policy is based on several factors, including the value of your business property, where you are located, the number of employees you have, and your policy's exclusions.

For public speaking companies, the average cost of workers’ compensation insurance is $45 per month, or $541 annually.

This policy covers medical expenses related to employee injuries and occupational diseases, such as an employee who injures their back while unloading equipment for a presentation. It also provides disability benefits while an employee is disabled or temporarily unable to work.

Most workers' comp policies include employer's liability insurance to protect against lawsuits from injured workers, though they give up their right to sue once they accept benefits.

Public speaking businesses with employees typically must purchase workers' comp to comply with state requirements and avoid penalties. For example, businesses in California and New York must carry workers' comp if they have one or more full-time or part-time employees. Florida businesses need coverage when they have four or more employees, and coverage is optional in Texas.

Since health insurance plans can deny claims for injuries related to your job, workers' comp coverage is also recommended for sole proprietors as a financial safety net and for peace of mind.

The cost of workers' comp depends on several factors, primarily the number of employees you have and their occupational risks. You can save money on workers' comp coverage by classifying your employees correctly and implementing a risk management plan to avoid work-related injuries and subsequent claims.

Public speakers pay an average of $51 per month for professional liability insurance, or $615 annually. This policy is sometimes referred to as errors and omissions insurance (E&O) or malpractice insurance.

Professional liability insurance covers financial losses related to professional negligence or failure to provide services that meet the standard of care for your industry.

For public speakers in particular, this includes media liability protection against copyright infringement, defamation, and other advertising injuries. This is typically included in a general liability policy, except when it relates directly to your work, as it does for public speakers and other media and advertising businesses.

For instance, if a public speaker is sued for slander after criticizing a CEO during a speech, their professional liability policy would pay for the resulting lawsuit, including attorney's fees and a settlement or judgment. It would also cover legal costs if someone accuses you of plagiarism or unauthorized use of images or music.

Below is the average professional liability policy for public speakers who buy from Insureon:

Premium: $51 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $1,000

Professional liability insurance costs depend on several factors, including your area of specialty, such as motivational speaker, keynote speaker, or entertainer. Factors like your claims history and the size of your business will also affect the cost.

As with other types of insurance, you can save money on professional liability coverage by choosing lower limits or a higher deductible. 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.

Professional services businesses, including public speaking companies, pay an average of $163 per month, or $1,954 per year, for commercial auto insurance.

Commercial auto insurance pays for legal fees, medical treatment, and repairs if your company vehicle injures someone or damages their property in an accident. It can also cover vehicle theft, vandalism, and weather damage.

Most states require commercial auto 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 auto insurance depends on several factors, including your policy limits, additional insured endorsements and other coverage options, the value of your vehicles, and the driving records of anyone at your public speaking business who is permitted to drive them.

Opting out of coverage you don't need, such as comprehensive auto insurance, will result in a lower premium.