Small Business Liability Insurance
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How much does small business insurance cost?

Small business owners can get a good idea of the average cost of business insurance by looking at pricing data from the thousands of businesses that found policies with Insureon.

Estimated insurance costs for Insureon customers

The first policy that most business owners need – and also the least expensive one – is general liability insurance. In an analysis of 28,000 small business owners who purchased commercial insurance through Insureon, the median premium for general liability was only $500 per year, or about $40 per month. The median premium for a business owner's policy, which bundles general liability with property insurance at a discount, was $636 annually, or about $50 per month.

The chart below shows median annual premiums for common policies. We use medians instead of averages when talking about insurance costs because the median excludes extremely high and low premiums.

Median cost of small business insurance by policy.

Who is the average Insureon customer?

Insureon is a resource for a variety of small business owners. We have helped everyone from IT / tech businesses to house cleaners, management consultants, and restaurants with their small business insurance needs.

To know how your business compares to other businesses, it's helpful to get an idea of who we insure. The majority of our customers have:

  • 1-5 employees
  • Annual revenue ranging from less than $50,000 to more than $200,000
  • Five years or less in business

Many businesses have only one employee

The majority of small businesses (62%) in this analysis have only one employee. Another 16% of businesses had two employees.

Distribution of number of employees.

40% of businesses earn less than $100,000 annually

The median revenue of the small businesses included in this analysis is $60,000. The majority of clients (around 60%) have less than $100,000 in annual revenue.

Distribution of small business revenue.

Most companies were in business for 5 years or less

The majority of companies included in this analysis (71%) have been in business for five years or less.

Years in business.

Insurance costs also depend on your profession

Because general liability insurance covers third-party property damage, professionals who are responsible for their clients' property typically pay more for this policy. In general, the greater the chance of you making a claim on a policy, the more you can expect to pay for that coverage.

To see insurance costs for businesses in your industry, visit our industry-specific cost analyses:

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