Revolutionize Brokerages with Top Tier Liability Insurance Comparison
Understanding the Cost Factors
The cost of liability insurance for brokerages varies based on several factors, including the size of the business, the number of employees, and the scope of services offered. According to industry data, the average cost for general liability insurance for small businesses is approximately $500 to $1,000 annually1. However, brokerages with higher risk profiles or those operating in litigious environments may face higher premiums.
It's essential to conduct a thorough risk assessment to determine the appropriate level of coverage. This ensures that you are not underinsured, which could leave your business vulnerable, or overinsured, which could lead to unnecessary expenses.