The cost of liability insurance is going to depend on a few factors.
- What type of business it is? A CPA will pay a cheaper price than a plumbing contactor.
- Where is the business located? The litigious climate is different everywhere so a CPA in Dallas is not going to pay the same as one in New York City.
- The last factor will be what is the rate for the insurance based on? That will depend on two things the class of business and the carrier providing the quote. For example most carriers base their rates for contractors on payroll, where retail operations may be based on their sales.
Your state insurance department is your best resource for insurance-related questions and concerns. Find information on insurance companies and agents, rate quotes and comparisons, insurance buying tips, claims filing information and much more!
State Insurance Department websites:
http://www.naic.org/state_web_map.htm