Is business insurance expensive?

General liability insurance · Commercial auto insurance · Business owners policy. Insurance premiums may be lower for companies that have been in business for many years without filing a claim. Your type of company, or more specifically the industry in which you operate, can also affect your company's insurance costs. Simply fill out a simple form about your company to compare insurance from more than 30 of the top providers (at no additional cost).

Workers' compensation insurance is even more specific and delves into the job role of each employee to determine the cost of coverage for a given company. The best way to save money on your business insurance is to make very few claims against your policy. The number of employees who work for your company can have a significant impact on your company's insurance costs. How much your policy will pay and under what circumstances it will affect the total cost of your company's insurance.

Insurance companies reward companies that are diligent about the safety of workers and customers, but harm companies that have a history of accidents, work injuries, or negligence lawsuits. The following table can help you get a general idea (not exact numbers) of the potential costs of your commercial insurance. Help take the guesswork out of finding the best combination of cost and insurance coverage for small businesses by talking to a licensed professional. Keep reading to learn more about the costs of insurance for small businesses and also to find tips on ways to save on insurance.

That's one of the reasons why the cost of professional liability insurance will be higher for an architectural firm that works in public buildings than for an insurance agent who works with individual clients. The number of employees can affect your insurance costs, especially for policies such as workers' compensation insurance.