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What is the average insurance cost for small business?

Bruce Pedersen

Answered Most Recently

Rates vary greatly depending on the industry sector, number of employees, gross revenue or payroll (used as a rating base for some policies), type of coverage needed.

I’ll say that in my area, a small retail operation with one location would likely pay around $1500 for property and liability and perhaps $1000 for workers compensation. An office exposure would pay about 25% less. A service business would pay more for workers compensation – perhaps much more depending the type of work the employees are involved in. Construction business tend to have extremely high costs for workers compensation (expected losses are high) and can also pay high rates for general liability, especially if they are involved in new residential construction.

So. without knowing more about your business it’s hard to give you even an approximation.

However, your state insurance department may be the 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 by clicking on the related link.


Depends entirely on the business, where it is situated, what industry it represents and its exposure to risk.

For example:

If you had a fireworks factory it would have a much higher premium than say a cheese factory because of the inherent nature of the business.

A business in Johannesburg, South Africa would likely have a higher premium than the same type of business located in Geneva, because of the risk of theft.

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