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How Much Liability Insurance Do I Need for my Business?

“How much liability insurance do I need for my business?” is a question many entrepreneurs have. The short answer is as much as your budget will allow.

Additional factors that affect the cost of your liability insurance are:

  • the type of business you operate
  • the annual amount of your gross sales/receipts and employee payroll

The Basics of Liability Insurance

When it comes to liability insurance fundamentals, the phrase “business liability insurance” is a wide notion. 

There are Many Types of Business Liability Insurance

It’s important to have a conversation with your local, independent insurance agent to determine which types of liability insurance you should invest in for your business. Below are the most common types of business liability.

  • General Liability
  • Professional Liability
  • Automobile Liability (even if you don’t own one)
  • Employee Practices Liability Insurance
  • Cyber Liability
  • And others

How Much Liability Insurance is Needed?

Liability insurance protects and defends your business for everything it’s legally obligated to pay for because of it’s operations, subject to policy coverage and exclusions. When thinking about how much liability insurance you need, there are two important pieces of data you should consider:

  • how much is your business worth?
  • what are your contractual obligations to provide liability insurance?

Your local independent insurance agents at Stromsoe Insurance Agency are here to help you determine what’s best for you and your business.


Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: [email protected]
Text: 951-482-8144

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“Our longtime agent told us it would be 5-7 days to get basic BOP/General Liability Insurance. I called Stromsoe because it had 5 star reviews and so many people (200 plus) giving them excellent reviews. And they lived up to it. Ann P. immediately addressed my issues, figured out how to satiate our commercial landlord, locked down feasible rates, and made it happen for us in one day. Endlessly responsive and informative. We got our Certificate of Insurance on a complicated issue. Thanks Ann. You deserve to be recognized. I’m switching both of our businesses to YOU! Highly recommend, see Ann P.”Nicole Fuller – Dr. Maryanne Hannaney & Nicole Fuller – Temecula, CA – Client Since 2021

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

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