By the General Liability Guide Editorial Team. Our guides are verified against actual insurance carrier rate sheets and state industrial commissions.
Forming an LLC protects your personal assets, but it doesn't protect your business assets from lawsuits. That's where general liability insurance comes in.
Why LLCs Need General Liability
Even if you are a single-member LLC, a single slip-and-fall accident or property damage claim can bankrupt your company. General liability serves as your first line of defense.
Typical LLC Premiums
Most small LLCs can expect to pay between $42 and $85 per month for a standard $1M/$2M policy. This "1 million / 2 million" limit is the industry standard for most commercial leases.
Frequently Asked Questions
An LLC provides 'the corporate veil,' but it can be 'pierced' in certain legal situations. Insurance provides the financial resources to defend your business and personal assets.
About This Guide
This guide was researched and written by the General Liability Guide editorial team to help business owners navigate the complexities of commercial insurance. We use data from industry leaders and regulatory filings to provide the most accurate estimates possible.