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Professional liability insurance costs an average of $61 per month, but your cost will depend on various factors like industry, size, revenue and claims history.
On average, business owners spend $500 to $1,000 per year, per employee on professional liability insurance, according to estimates from The Hartford, an insurance provider.
Small businesses pay an average premium of $61 per month, or about $735 annually, for professional liability insurance. Our figures are sourced from the median cost of policies purchased by Insureon customers from leading insurance companies.
How much does professional liability insurance cost? In 2023, the national median monthly cost of professional liability insurance was $42 for new Progressive customers. The average rate was $64 per month.
How much does professional liability insurance cost? The cost of professional liability insurance varies on factors like industry, location, claims history and more. Discover what factors impact your price and how to save on insurance costs with The Hartford. Get a free quote today.
On average, PLI costs between $600 and $1,200 yearly, much less than a lawyer, court fees, and related expenses. PLI policies only cover claims up to to stated maximum amounts, such as $1...
How much does it cost? What is Professional Liability Insurance? Professional Liability Insurance, also known as Professional Indemnity Insurance, protects individuals and companies from the costs of lawsuits and damages related to their professional practice, advice, and services.