Average Business Insurance Costs by Policy Type

The cost of business insurance depends on the type of policy, your industry, business size, location, and claims history. Below are typical monthly costs for the most common small business insurance policies in 2026.

General Liability Insurance: $25–$75/month

General liability is the most affordable and most essential policy for small businesses. Low-risk businesses like consultants and IT firms often pay as little as $25 per month, while contractors and manufacturers may pay $50 to $75 or more depending on their exposure.

Business Owner's Policy (BOP): $50–$150/month

A BOP bundles general liability with commercial property insurance at a discounted rate. It is ideal for businesses with a physical location — retail shops, offices, restaurants, and salons. The bundled price is typically 15-25% less than buying each policy separately.

Workers' Compensation: $45–$200/month

Workers comp premiums are calculated based on your state, industry classification code, and total payroll. Office-based businesses pay the lowest rates, while construction, roofing, and manufacturing carry the highest premiums due to injury frequency.

Cyber Insurance: $50–$150/month

With data breaches costing small businesses an average of $120,000, cyber insurance has become essential for any company that handles customer data, processes payments, or relies on technology. Tech companies, healthcare providers, and e-commerce businesses are most at risk.

Professional Liability (E&O): $40–$120/month

Errors and omissions insurance protects service-based businesses against claims of negligence, missed deadlines, or faulty professional advice. Consultants, accountants, real estate agents, and IT professionals commonly carry E&O coverage.

How to Save on Business Insurance

The single best way to lower your premiums is to compare quotes from multiple carriers. Insura does this for you — we search top-rated insurers like Hartford, Chubb, Hiscox, and biBERK to find the best rate for your specific business. In fact, 87% of Insura customers pay less than their previous policy. Call 434-597-3944 or get your free comparison in under 2 minutes.