How Much Is Insurance For A Small Business Per Month

In an analysis of 28 000 small business owners who purchased commercial insurance through insureon the median cost of general liability insurance was 42 per month or 500 per year.

How much is insurance for a small business per month. Learn what factors affect your cost and get a free quote today. Specifically more than 80 of small businesses pay 30 per month or less for general liability coverage while 95 pay 50 per month or less. The average cost of a business insurance package for retail business is 96 43 per month with 32 5 of our customers paying between 76 and 100 per month. While around 25 pay around 51 100 per month for their public liability insurance.

Below is the full breakdown. On average small business owners can expect to pay around 63 53per month for public liability insurance. A sole proprietor might pay 500 per year for general liability insurance but a small consulting firm is likely to pay over 3 000 per year. The full breakdown can be seen below.

From our analysis we found that around 62 of small businesses pay less than 50 per month. The median cost of a business owner s policy which bundles general liability with property insurance at a discount was 53 per month or 636 annually. As with general liability insurance the premium varies by industry. This type of insurance varies in cost depending on the type of plan selected and other factors.

The riskier and larger the operation the more the business will pay. Many small businesses purchase a business owners policy bop a package policy that includes both general liability and commercial property coverages. While there really are no average business liability insurance costs for both small and large businesses we can consider some sample scenarios. For insureon s customers the median price of a bop is 636.

The median cost offers a more accurate estimate of what your business is likely to pay than the average cost of business insurance because it excludes outlier high and low premiums. In 2019 the average monthly cost of a new 12 month business insurance policy through the progressive advantage business program ranged from 46 for professional liability to 85 for workers compensation. A wellness focused insurance plan will cost small businesses 2 600 to 3 900 a month a savings of 650 to 1 300 a month compared with similar plans. How much do retailers pay for their business insurance pack.

Regardless of policy limits the median cost of general liability insurance is 42 per month 500 annually. Only 1 have a general liability insurance cost of over 100 per month. Based on their results the typical general liability insurance cost was approximately 30 per month.