{"id":4344,"date":"2020-07-31T07:52:00","date_gmt":"2020-07-31T07:52:00","guid":{"rendered":"https:\/\/www.freeway.com\/knowledge-center\/?p=4344"},"modified":"2025-01-17T21:50:02","modified_gmt":"2025-01-17T21:50:02","slug":"how-much-is-business-insurance","status":"publish","type":"post","link":"https:\/\/www.freeway.com\/knowledge-center\/business-insurance\/understanding-business-insurance\/how-much-is-business-insurance\/","title":{"rendered":"How Much Is a Business Insurance Plan?"},"content":{"rendered":"\n<p>It\u2019s impossible to start a business without assuming some risk. You can mitigate some of it by purchasing a business insurance policy. There are different types of coverage to protect yourself and your company. You want to have that type of protection, but you need to know, \u201cHow much is a business insurance policy?\u201d That depends on different factors, including your needs. Learn more about the types of coverage, and determine how much you can expect to pay for a policy.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-types-of-business-insurance\">Types of Business Insurance&nbsp;<\/h2>\n\n\n\n<p>Before you make a purchase, you need to go over your options. There are six&nbsp;<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/get-business-insurance\">common types of business insurance<\/a>.<\/p>\n\n\n\n<p>General liability coverage for a business is the most common option. Even though it\u2019s common, you still probably find yourself asking, \u201cWhat does business insurance cover?\u201d General liability will protect against financial losses due to:<\/p>\n\n\n\n<ul><li>Bodily injury<\/li><li>Property damage<\/li><li>Medical expenses<\/li><li>Libel<\/li><li>Slander<\/li><li>Defending lawsuits<\/li><li>Settlement bonds or judgments&nbsp;<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>You can also purchase:<\/p>\n\n\n\n<ul><li>Product liability insurance<\/li><li>Professional liability insurance<\/li><li>Commercial property insurance<\/li><li>Home-based business insurance<\/li><li>Business owner\u2019s policy&nbsp;<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Each type of business insurance offers different coverage. Speak to an agent to determine which type of policy you need for your company.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-do-i-need-business-insurance-for-an-llc\">Do I Need Business Insurance for an LLC?<\/h2>\n\n\n\n<p>An LLC only offers limited protection, so your private assets could be at risk if you don\u2019t have proper coverage. It will also protect you against frivolous lawsuits. Without the right coverage, you will have to cover the legal fees if you\u2019re sued, even if you aren\u2019t found liable.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-best-insurance-for-a-small-business\">What Is the Best Insurance for a Small Business?&nbsp;<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business.jpg\" alt=\"woodworkers at their shop looking at a business insurance policy in a laptop\" class=\"wp-image-4350\" width=\"500\" height=\"334\" srcset=\"https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business.jpg 1000w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-300x200.jpg 300w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-768x512.jpg 768w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-960x640.jpg 960w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-750x500.jpg 750w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-294x196.jpg 294w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-320x213.jpg 320w, https:\/\/www.freeway.com\/knowledge-center\/wp-content\/uploads\/sites\/2\/2020\/07\/liability-insurance-for-a-business-285x190.jpg 285w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/figure><\/div>\n\n\n\n<p>Choosing the right policy for a small business can seem confusing. However, it\u2019s easy when you go with a business owner\u2019s policy. A business owner\u2019s plan includes all the coverage you need into one policy. This can lower your rates while providing you with ample protection.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-is-business-insurance\">How Much is Business Insurance?&nbsp;<\/h2>\n\n\n\n<p>The cost is based on various factors, including your:<\/p>\n\n\n\n<ul><li>Industry<\/li><li>Type of business<\/li><li>Loss history<\/li><li>Business location<\/li><li>Years in operation<\/li><li>Types of insurance<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Depending on your situation, you might spend as little as $300 a year on general liability insurance or pay $600 or more. If you get a business owner\u2019s policy, you can expect to pay more for coverage. Of course, you\u2019ll get more since this is a bundled policy.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-is-business-insurance-get-a-quote-today\">How Much is Business Insurance? Get a Quote Today<\/h2>\n\n\n\n<p>Since every situation is different, you need to get a quote to find out how much you\u2019ll pay. You can get rates for different types of coverage, including a business owner\u2019s policy. Compare quotes from different companies to find the coverage you need within your budget. Start the process by reaching out to a licensed insurance agent today.&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Protect your assets with a quality insurance policy from Freeway. Start your free business insurance quote online, over the phone, or at one of our offices near you.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n<div class=\"link-button__container\" style=\"text-align: center\"><a class=\"link-button link-button_1\" href=\"https:\/\/www.freeway.com\/business-insurance-quote-form\/\">Get a Quote<\/a><\/div>\n<div class=\"link-button__container\" style=\"text-align: center\"><a class=\"link-button link-button_1\" href=\"tel:800-777-5620\">Call Us<\/a><\/div>\n<div class=\"link-button__container\" style=\"text-align: center\"><a class=\"link-button link-button_1 c-button--blue-green\" href=\"https:\/\/locations.freeway.com\/\" target=\"_blank\" rel=\"noopener\">Find Your Office<\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>It\u2019s impossible to start a business without assuming some risk. You can mitigate some of it by purchasing a business insurance policy. There are different types of coverage to protect yourself and your company. You want to have that type of protection, but you need to know, \u201cHow much is a business insurance policy?\u201d That [&hellip;]<\/p>\n","protected":false},"author":1002615,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60],"tags":[],"importance":[],"type-content":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/4344"}],"collection":[{"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/users\/1002615"}],"replies":[{"embeddable":true,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/comments?post=4344"}],"version-history":[{"count":10,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/4344\/revisions"}],"predecessor-version":[{"id":11329,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/4344\/revisions\/11329"}],"wp:attachment":[{"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/media?parent=4344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/categories?post=4344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/tags?post=4344"},{"taxonomy":"importance","embeddable":true,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/importance?post=4344"},{"taxonomy":"type-content","embeddable":true,"href":"https:\/\/www.freeway.com\/knowledge-center\/wp-json\/wp\/v2\/type-content?post=4344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}