Cheap Business Insurance
The cost of business insurance has been increasing for small business owners. General liability and workers' comp insurance have been the major cause of the increase in the cost of coverage. We've partnered with our insurance companies to provide more affordable commercial insurance solutions. Ask about our commercial package insurance options:
General Liability Insurance
Inland Marine Coverage
Umbrella Liability and more
Not all lines of insurance coverage or all class codes will be available in all states. Contact one of our workers' comp Specialists for program details on general liability and workers' compensation insurance.
Start a quote online or give one of our specialists a call at 888-611-7467.
The average cost of insurance for a small business with no employees will depend on the type of business. On average, most contractors pay about $1,100 for a workers' comp policy. The cost of general liability insurance averages around $500.00 per year. Business owners such as salons or offices may pay less for coverage because there is less risk of a claim, while some business professionals who give advice or provide more technical services may pay a few thousand dollars for coverage.
Workers' Comp Costs
General Liability Costs
Workers' compensation insurance is required in all states except Texas. Most states require business owners to buy coverage as soon as they hire their first employee. A few states require coverage between 3-5 employees. Special state laws apply to contractors who may beed to purchase work comp even when they have no employees. Requirements may vary for sole-proprietors, partnerships. LLC's, and corporations.
General liability insurance is not required by law in any state. GL is almost always purchased by business owners because a contract requires coverage or because their customers require it. Small businesses that perform sub-contract work for larger companies are typically required to provide proof of general liability and workers' comp on a certificate of insurance.
If you own a small business it's a good policy to buy both coverages in order to protect your business and personal assets. Inland marine (tools and equipment), property and commercial auto are not required by law, but business owners run the risk of baring the cost of replacement and liability for any related claims or losses.
How do I get started?
What Happens Next?