Business Liability Insurance costs vary from State to State. Your costs will depend on what type of business your in and the size of your business and a number of other factors. Contact a local independent insurance agent for a quote. If in NJ contact William J Zester, VP - MPPI, Inc.
bzester@mppi.com
Business Liability Insurance is typically sold as "General Liability" insurance to businesses in order to provide coverage for the day to day operations of the business. Depending upon the kind of business it is, there are different categories of liability insurance for businesses. For instance if a business manufactures, then Product Liability Insurance is necessary to cover claims against the business arising from the use of their products. If the business is a service business (i.e. Carpet Cleaning, Sales, Contracting or sub-contracting etc., etc.), usually a General Liability policy is sufficient. One thing to note with business liability insurance is the amount of coverage purchased. There are policy limits per incident as well as aggregate (combined) limits. The key issue is in purchasing enough insurance to cover any contingency without purchasing too much because the insurance company will only cover costs up to the limit of coverage. For special insurance needs, a piggy-back policy for business is often used. This type of business insurance is called an 'Umbrella Policy'. It is a policy that rides on top of an existing policy that offers specific coverages in excess of the original policy.
Liability Insurance rates vary based on the type of policy such as Professional Liability, and General Liability each policy type is different so the ratings are different. The premium is also based on the carrier (admitted vs. non-admitted) and the carriers rating (A+, A, A-, B+, B-).
Another factor is the type of business, gross receipts, payroll if any are some examples.
If you would like to obtain a quote I can certainly assist you in that, you can message me on my profile if you are interested.
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