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How much is business insurance per month?

Business insurance costs can vary widely depending on the type of coverage you need, the size and nature of your business, and various other factors.

Here are approximate price ranges for different types of business insurance coverage in the United States, typically quoted on an annual basis:


  1. General Liability Insurance: This coverage protects your business against claims of bodily injury, property damage, or personal and advertising injury. Prices range from $500 to $3,000 or more per year, depending on your business’s size and risk exposure.

  2. Professional Liability Insurance (Errors & Omissions): For businesses that provide professional services, such as consultants, lawyers, or healthcare providers, this insurance protects against claims of negligence or mistakes. Costs vary widely but can start at $500 and go up to $5,000 or more annually.

  3. Business Property Insurance: This coverage protects your business property, including buildings, equipment, and inventory, from perils like fire, theft, and vandalism. Costs depend on the property’s value and location, ranging from $750 to $5,000 or more per year.

  4. Business Interruption Insurance: This coverage helps replace lost income and cover expenses when your business can’t operate due to a covered event (e.g., fire or natural disaster). Prices vary but can be around 10% of your property insurance cost.

  5. Workers’ Compensation Insurance: The cost of workers’ comp depends on your location, the type of work your employees do, and your payroll. On average, it ranges from $0.75 to $2.00 per $100 of payroll annually.

  6. Commercial Auto Insurance: If your business uses vehicles, the cost of commercial auto insurance depends on the number of vehicles, their type, and how they’re used. Premiums can range from $750 to $2,000 or more per vehicle per year.

  7. Cyber Liability Insurance: Protecting your business against cyberattacks and data breaches is crucial. Cyber insurance costs can start at around $1,000 and go up significantly for larger businesses with higher exposure to cyber risks.

  8. Directors and Officers (D&O) Insurance: This coverage protects company directors and officers from personal liability for decisions they make while managing the business. Prices can range from $1,000 to $5,000 or more annually.

  9. Product Liability Insurance: If your business manufactures or sells products, this coverage protects against claims related to product defects or injuries. Costs vary but can start at around $500 per year.

  10. Umbrella Insurance: This provides additional liability coverage above the limits of other policies. Prices depend on the coverage amount but can be as low as $500 annually for $1 million in additional coverage.

It’s important to note that these are general price ranges, and your actual costs may differ. Insurance companies consider factors like your business’s location, size, industry, claims history, and the specific coverage you need when determining premiums. 

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