Small businesses spend an average of $42 per month on general liability insurance, according to Insureon.
However, costs can vary based on business type and location, number of employees, annual revenue, type of coverage and claims history. About 29% of small businesses pay $30 per month, while 41% pay between $30 and $60 per month. About 30% pay more than $60 a month.
General liability insurance typically covers things like bodily injury, property damage, advertising injuries, copyright infringement and reputational harm.
Generally, it doesn't cover auto accidents, cyber attacks, employee injuries and illnesses, intentional acts, professional mistakes and damage and theft to business property. Those items often require other insurance products, like workers' comp insurance and commercial property insurance.
The slideshow above highlights the best general liability insurers for small businesses according to Forbes.
Photo credit: paulaphoto/Shutterstock
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.