How Much Does Commercial General Liability Insurance Cost?
The price small business owners will pay for commercial general liability insurance
varies, based on a number of factors. Typically, businesses in high risk industries are more exposed to bodily injury or property damage claims and will pay higher rates. Insurance companies determine the cost of your general liability insurance coverage by looking into the size of your business operations, your risk management plans and the type of company you run.
Some factors that can influence how much commercial general liability insurance costs include:
- Business location: Highly populated areas can increase the likelihood of bodily injuries, which can raise your premium.
- Number of employees: The more workers you have, the higher the risk is that they’ll be injured.
- Type of business: High risk industries will pay more premium. For instance, companies with social media marketing plans may be at a higher risk for an advertising injury than companies that don’t do digital ads.
- Deductible: Higher deductibles mean you’ll pay a lower premium.
Average Cost of Commercial General Liability Insurance
The average commercial general liability insurance cost
varies based on several specific business factors mentioned above. For instance, construction companies typically pay more for business liability insurance than retail stores because their workers face more day-to-day risks. And consulting companies with a largely remote workforce, such as those in the professional services industry, will typically pay less than restaurants as they interact less with the public.
To learn more about the cost of general liability insurance, obtener una cotización
today. We can also help you get additional professional liability coverages, like commercial auto insurance and a workers’ compensation policy. Our specialists are here to find the coverage limits small business owners need.
Ways To Save on Commercial General Liability Insurance Costs
- Bundling your business insurance policies: With our Póliza para propietarios de empresas (BOP), you can bundle commercial property, general liability and business income insurance into one convenient policy. You can also add other coverages you need, like data breach insurance.
- Managing your business’ risks: A risk management plan can help your employees do their jobs safely and reduce your premium price. For instance, you may be able to reduce your commercial general liability insurance cost by having your workers take safety training programs that help reduce your risks.
- Paying your premium upfront: When you use a payment plan, there’s often a fee attached. You can avoid extra costs by paying the whole premium at once.
- Adjusting your coverage limits and deductible: Choose the right amount of general liability insurance coverage for your type of business. You’ll want to buy enough coverage to adequately protect your business from a potential lawsuit and bodily injury or property damage without paying for more coverage than you need. Raising your deductible will lower the cost of your premium.
How Much Does Commercial General Liability Insurance Cost With The Hartford?
The best way to find out how much el seguro de responsabilidad comercial
will cost you is to get insurance quotes. You can even compare them between different insurers to find the best rate and policy for your type of business. We are proud to be an insurance company you can count on, and we make it easy to obtener una cotización
. We’re here to help you find the protection you need for your specific business.