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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.
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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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