Coworking Space Insurance: Cost, Liability & Quotes From $5

In the modern world, coworking has become common, with many businesses joining the bandwagon. A large percentage of both traditional businesses and tech startups are flocking to these affordable and tenant-friendly arrangements. With their unique design, these spaces offer all the amenities and benefits that come with coworking. They make employees feel at home with a conducive working environment.

While these spaces are ideal for business, they have some risks. In any shared or public space, lost, damaged, or lost property is a serious concern. It can result in financial losses, especially if it is what you need to operate your business. Considering that startup insurance  won’t cover some of these risks, you should consider getting coworking space insurance that covers such cases.

Therefore, we will discuss the importance of business insurance for coworking spaces, liability insurance for coworking spaces and what it covers. We will also mention coworking insurance cost and some of the best coworking space insurance companies from whom you can get it.

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Coworking Space Insurance Cost

The average coworking space insurance cost is roughly $40 per month or around $480 annually for a $1 million general liability coverage. It is important to note that several factors influence the cost of coworking space insurance. For instance, the location of your business could result in higher or lower insurance costs. This is because some states have insurance policy limits that every coworking space business should have. If you are in such a state, you could spend more on your coworking space insurance coverage.

The size of your business will also influence the cost of insurance. If you are an established coworking business with many employees, you will need a higher insurance package that costs more. Furthermore, the time of policy you choose affects the total cost. To give you an accurate estimate of the cost of co-working space insurance, here is a summary of how top insurance companies charge monthly and annually.

Company Monthly Yearly Best for
Coverwallet $25 $300 Online coworking space insurance quote comparison
Next Insurance $35 $420 Fastest policy
Thimble Insurance $30 $360 On-Demand Coworking Space Insurance Policies
SJL Insurance $50 $500 Tailored coworking space insurance coverage
Hiscox Insurance $65 $650 Larger coworking spaces

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Liability Insurance for Coworking Spaces

Coworking spaces are useful because they provide the office equipment and amenities needed for work. Some of these things include chairs, desks, high-speed internet, food and drinks, and, in some cases, presentation equipment and desktops. These tools make work easier and efficient. In most cases, coworking owners and managers have liability insurance for coworking spaces or some other kind of business insurance for corking spaces since lease terms require that. This is necessary, especially if they don’t directly own the property. If you own such a space, you shouldn’t rely on property insurance alone. 

This is because this policy does not cover some accidents and claims. Therefore, you should consider getting general liability insurance that covers a wide range of claims. Even though it covers third-party bodily injuries and damage, this policy is vital for your business. It also covers cases of copyright infringement, libel, and slander. You should purchase a comprehensive coworking space insurance that protects against any injuries triggered by your services. 

If a person gets injured in your coworking space due to tripping over a loose wire, they can hold your coworking business liable. This is why you need business insurance for a coworking space to protect against such claims. Finding yourself in such situations without insurance cover could result in severe financial losses. Furthermore, for owners and managers, this insurance policy saves you money when a machine breaks down and needs repair. 

Apart from general liability insurance with a public liability coverage, it would help if you also had professional liability insurance. This is crucial because it protects your coworking business if a client files a claim against it. For instance, if a client feels that your coworking space doesn’t meet your advertised standards, they could file a lawsuit. Even the smallest errors could lead to professional liability. For instance, things like unfinished projects or lack of enough spacing could trigger claims against your business. Professional liability insurance will not only protect your business but your clients as well since they can regain money lost to such lawsuits. 

It would be best if you also had a BOP or business owner’s policy. This is a combination of commercial property and general liability insurance. If you have several clients in your coworking space, this insurance policy is ideal for you. It protects your business from bodily injuries that occur within the coworking space. Additionally, it protects you from cases of theft or damage to equipment within the coworking space. This is why it is important to get a comprehensive insurance policy that covers every possible claim. By doing so, you prevent the risk of financial losses.

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Best Coworking Space Insurance Companies

Coworking space insurance is very important for your business. Now that you know its benefits and what it covers, you might be thinking of purchasing it. Many insurance companies offer coworking space insurance. However, not all these companies offer the best policies for your business. This is why we have sampled and reviewed some of the best coworking insurance companies offering this policy. Read to know their pros, cons, and pricing for a $1 million general liability coverage. 

SJL Insurance

SJL is an insurance company based in the UK. Having been in operation for five decades, this company understands what policies businesses need. As a coworking space business owner, you will benefit immensely from their policies. Their services can be found in several countries, making them accessible. Furthermore, SJL offers online services, meaning you can get quotes from wherever you are.

SJL Policy Details

This insurance company offers comprehensive insurance policies. With SJL, your coworking business is protected against a wide range of claims that could lead to financial losses. You will also enjoy tailored insurance cover that is modified to suit your business. Most of their policies are affordable, with quotes starting from as low as $10 per month.


  • Tailored Co-working Space Insurance Coverage

  • Affordable

  • Fast claim responsiveness


  • Not available in some countries

Best for: Tailored commercial coworking space insurance

Average cost: $50

Our rating: 10/10

Hiscox Insurance

Hiscox insurance is one of the most established insurance companies. With many years of experience, Hiscox prides itself in providing unique and comprehensive insurance cover. Being a global brand, you can access Hiscox services from almost any country. They also have a remarkable customer care support system that responds to your inquiries quickly. As a coworking space business owner, you will benefit from the various insurance policies they offer.

Hiscox Policy Details

Hiscox offers coworking space insurance under its office insurance cover. Even though it is not tailored, this policy covers a wide range of claims that prevent losses.


  • Available in most countries

  • Covers third-party liabilities

  • Quick claim responsiveness


  • It doesn’t offer tailored insurance for coworking space

Best for : Large coworking space business insurance

Average cost: $65 per month

Our rating: 10/10

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