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Only time can tell when your business faces claims. If this does happen, you might need to pay costly legal fees and settlements. And so, it’s a good idea to get business insurance or commercial insurance as it comes with liability coverages that can pay for the claims made by clients and other third-parties.
When talking about liability insurance, most people think about general liability insurance. However, the term can also pertain to professional liability insurance, employer’s liability insurance, cyber liability insurance, and more. In this discussion, we will take a close look at how much does $1 million liability insurance cost.
Also read:
Computer businesses usually have general liability insurance and professional liability insurance. Let’s discuss the cost of each.
For computer businesses, the cost of commercial general liability insurance having a one million coverage limit is $33 per month or $396 a year. Factors that affect general liability insurance coverage cost are location, size of business, business history, and more.
Computer businesses having a $1 million professional liability coverage pay a company liability insurance cost of $22.34 per month or $268.08 a year. Factors that affect professional liability insurance prices are claims history, revenue, and more. In connection, the best professional liability coverage options for computer businesses are:
A 1 million dollar insurance policy cost computer businesses $45 a month or $540 a year. Factors that affect cyber liability insurance estimate of cost are policy limits, deductibles, security of the business environment, and more.
$1 million general liability insurance cost for flower shops is $72.33 a month or $868 a year.
$1 million professional liability insurance coverage for flower shops costs $46 a month or $552 a year.
$1 million employer’s liability coverage for flower shops cost is $71 a month, which translates to $852 a year.
For flower shops running a website to make sales and launch campaigns, provided that cyber liability coverage is purchased, $1 million liability insurance cost is $33.18 a month on average, or $398.16 annually.
The business insurance policy types jewelry stores usually get are general liability, stand-alone products liability, employer’s liability, and cyber liability insurance. Let’s discuss the cost of each.
$1m general liability insurance for jewelry shops cost is $69.66 per month or $835.92 a year on average.
If a jewelry shop decides to only include professional liability coverage, its 1 million dollar liability insurance cost will be approximately $62 a month or $744 a year.
In terms of purchasing employer’s liability insurance, $1 million liability insurance cost for jewelry stores is approximately $76.26 a month or $915.12 a year.
Jewelry stores are recommended to get $1 million general liability insurance and $1 million employer’s liability insurance.
Let’s discuss the average cost for business insurance for gift shops with $1m liability coverage.
$1 million dollar general liability insurance cost for gift shops is $83.33 a month or $999.96 a year on average.
If a gif shop only decides to get a 1 million dollar policy limit of cyber liability coverage, coverage will cost $52.13 a month or $625.56 a year on average.
The average employer’s liability insurance cost for gift shops with $1000000 liability coverage is $63.18 a month, or $758.16 a year.
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The average rates are as follows:
The average cost of $1m commercial liability insurance NJ are as follows:
$1m liability insurance in California costs as follows:
Florida general liability insurance cost is $59 per month or $708 a year.
This table shows the pricing and the selling points of the companies in the review below:
| Company | Cost per Month | Cost per Year | Best for |
|---|---|---|---|
| CoverWallet | $39 | $468 | Compare insurance quotes and get liability insurance for business online |
| Thimble | $45 | $540 | Short-term liability insurance |
| Next | $62 | $744 | People wondering, “where to get insurance for my business with liability coverages sold at discounted rates” |
| Hiscox | $73 | $876 | Liability insurance having more than $1 million limits |
| Progressive | $102 | $1,224 | Liability coverage for trucking companies |
CoverWallet isn’t a business insurance carrier. Instead, it’s a broker selling the liability coverages of its partners such as Progressive. The best thing about this company is that you can get business insurance quotes offering $1 million liability coverage online.
Use CoverWallet’s online quote comparison platform to get liability coverage tailored for businesses in different locations. Purchase NC general liability insurance and other covered areas.
Best for: Customers wanting to compare insurance quotes and get liability insurance for business online
Average cost: $39
Our rating: 10/10
Small business insurance calculator: CoverWallet doesn’t have any. Instead, its online quotes comparison platform serves as a liability insurance estimator that collects the offers and pricing of different carriers.
Are you asking yourself if getting insurance for my business as a short-term policy possible? The answer to this is yes with Thimble . Thimble allows you to buy general liability insurance online as well as other liability coverages by the hour, days, weeks, or months. From Thimble, customers can get short-term general liability insurance Connecticut and other covered states.
Best for: Short-term liability insurance
Average cost: $45
Our rating: 9/10
Business insurance cost estimator: Thimble has a business insurance calculator that can estimate the pricing of its liability policies.
NEXT offers tailored liability insurance policies to hundreds, or even thousands, of businesses and professions. This company is the answer for those asking how to get business insurance with discounted rates if liability coverages are bundled. Next offers business liability insurance MA and other states.
Best for: Fastest $1 million dollar liability insurance with best rates
Average cost: $62
Our rating: 9/10
Small business insurance cost calculator: NEXT has a business liability insurance cost estimator that allows you to estimate the pricing of your general liability coverage.
Hiscox offers liability policies that offer more than $1 million in coverage. This company covers businesses in different sectors and provides risk management resources tailored for each.
Best for: Liability insurance having more than $1 million limit
Average cost: $73
Our rating: 9/10
Liability insurance calculator: None
Progressive business liability insurance is usually availed by companies in the trucking sector. But note that liability policies are also available for other businesses. For instance, Progressive commercial general liability insurance is also offered to food truck businesses, food cart businesses, and others. Progressive insurance general liability coverage, as well as other liability policies, starts at $1 million limit.
Best for: Liability coverage for trucking companies
Average cost: $102
Our rating: 8/10
Commercial insurance calculator: None
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10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
10 / 10
Great experience
6 / 10
Didn't relate to the concept much, but it makes sense if you need insurance to go
0 / 10
It doesn't really feel sustainable to me and doesn't offer business interruption, product liability and commercial property insurance. They have no local agents and despite their technology first approach you cannot file claims online. Additionally, product manufacturers are not covered by Thimble and they don't provide enterprise solutions.
10 / 10
As a contractor that works 3 times a week for a few hours, Thimble gets really handy for me and saves me money. I have no use for these massive business insurance coverages offered by traditional insurance companies.
10 / 10
Excellent concept which is useful to many small businesses!
10 / 10
Been waiting for this type of solution for a long time!
10 / 10
Love their business insurance solutions for freelancers! Great app!
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Disclosure: Insuranks.com is an independent educational comparison service and an advertising-supported publisher. Some of the companies/offers that appear on the website are from our partners which we may receive compensation from. This may influence which companies/offers we write about and where and how it appears on the site. However, this does not impact our assessments. We solely highlight companies, products, and offers that can help you make smarter insurance decisions.
