General liability coverage needs vary on a case-by-case basis based on the type of business and the location in which the business operates, as described by the U.S. Small Business Administration (SBA). This means that a small business that operates with only one or two employees who are seated inside an office building will likely require a much smaller amount of liability insurance than a business with four or five employees who perform potentially dangerous tasks outdoors, such as a roofing company. Agencies such as the SBA do not put an exact dollar figure on the amount of insurance required.Continue Reading
Monthly premiums for small business general liability insurance policies tend to range from $750 to $2000, according to the SBA. Business owners who feel that they are unlikely to ever face a liability claim may want to stick to the lower end of this range, while those with more hazardous businesses may want to seek a higher-premium policy.
General liability insurance helps cover legal expenses and penalties that a business can incur as the result of injuries that happen on the business premises or are caused by business employees. These policies provide coverage up to a certain dollar amount, lessening the financial damage an incident can do to the business.Learn more about Insurance