Limited Liability Insurance
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What Is LLC Insurance?
LLC insurance is a suite of insurance policies designed to protect the assets and owners of a Limited Liability Company (LLC) from financial losses resulting from lawsuits, property damage, or professional errors. It bridges the gap between your personal liability protection and the unexpected operational risks of running a small business.
Does My LLC Need Business Insurance?
You need LLC insurance to pay for unexpected costs such as legal fees, medical payments, and data breaches. While the LLC structure provides a corporate veil for your personal assets, this insurance covers the business entity’s specific liabilities.
What Type of Insurance Does an LLC Need?
It depends on the type of business you own. After all, there are many different types of LLCs—from accounting firms and to general contracting companies, to bakeries and photographers. LLC businesses should consider getting the following policies:
General Liability Insurance
From
$20.75
/month*
Foundational insurance coverage for an LLC to help handle costs from third-party accidents, property damage, and bodily injury.
Business Owner’s Policy (BOP) Insurance
From
$33.75
/month*
General liability, property insurance, and more all in one convenient package.
Professional Liability Insurance
From
$25.83
/month*
Coverage for damages and legal costs due to mistakes or negligence claims.
Workers’ Comp Insurance
From
$38.91
/month*
Coverage to help take care of employees who get sick or injured on the job. Most states require this coverage for small businesses with full- or part-time employees. It also can benefit business owners who don’t have employees.
Inland Marine Insurance
From
$20.83
/month‡
Financially protect the tools and equipment you use while in transport or on a jobsite.
What Does LLC Insurance Typically Cover?
A ladder slips. A fire flares up. Your top employee gets injured on the job. Running an LLC means planning for the unexpected. We can help you choose the right business insurance to protect you and your crew from some of the most common claims:
A general contractor is managing a remodel when a ladder slips. It leaves a hole in the wall and knocks over an antique vase that shatters on impact. General liability insurance can help cover third-party property damage like that, so your LLC isn’t stuck paying out-of-pocket.
A longtime client asks their hairdresser for a color refresh before a big event. Soon after the appointment, the client has a severe reaction and claims you didn’t flag the allergy risk upfront. Having a professional liability policy could help cover the cost of resolving the claim and protect you against related legal expenses.
In a busy restaurant kitchen, a grease fire flares up fast. The flames are contained, but heavy smoke damage forces you to close for 2 months while the space is restored. A Business Owner’s Policy (BOP) bundles general liability, commercial property protection, and business interruption coverage to help pay for damages, repairs, and lost income so you can get back to work quickly.
Many LLCs choose a BOP because it offers more protection than a stand-alone general liability policy without costing much more — a great option if you’re established or planning to grow.
An electrician who owns their own LLC sends their foreman out to manage a residential job. Mid-install, they lose footing on a ladder, break a leg, and need emergency care — plus weeks off work to recover. Workers’ Compensation Insurance can help cover their medical costs, rehab expenses, and lost wages, so you can support your employee while protecting the business from a major financial hit.
Even if you’re a one-person operation, workers’ comp is worth considering, because some health insurance policies may not cover work-related injuries.
A lawn care business wraps up after a long day and leaves their equipment trailer overnight in a client’s driveway. By morning, it’s gone — along with commercial mowers, trimmers, and blowers worth thousands. Having contractor’s equipment and small tools coverage, also known as inland marine, could help pay to replace or repair your stolen or damaged equipment, whether it’s on the move or at a jobsite.
How Much Does LLC Insurance Cost?
The cost of LLC insurance varies for every small business. There isn’t a one-size-fits-all answer, as your price depends on several unique factors.
Factors that affect your LLC insurance cost
While prices vary, we can offer accurate quotes tailored to your specific needs. Your estimated price is usually based on:
- Specific business details
- Your business’s location
- The services you provide
- Your estimated annual revenue
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Why Choose Simply Business for LLCs?
We get your business
Forget one-size-fits-all insurance. We cover 400+ types of trades, everything from handymen to photography to craft vendors. We understand your business and customize insurance to meet your needs.
We’re fast and affordable
Get free business insurance quotes in under 10 minutes, because who wants to spend hours learning about insurance?
We’re human
Insurance can be complicated. But whether you’re browsing our site or talking to one of our agents, we’re here to simplify the business of small business insurance.
Answers to More Questions About LLC Insurance
Yes, you are typically able to deduct insurance premiums when filing their business income taxes. We strongly recommend talking to an accountant for more information about your state’s tax laws, though.
No, an LLC does not protect your personal assets from all business claims. While the LLC structure separates your personal life from your small business, that shield is not invincible.
Think of an LLC as a legal wall. There are several ways for a claimant or the government to bypass that wall and reach your personal bank accounts, home, or car. To fully protect your small business, you need reliable LLC insurance.
The cost for your insurance coverage is determined by:
- The type of work you do
- Where your business is located
- Your annual revenue
- The types of policies and limits you choose
Other factors can include your claims history and how long you’ve been in business.
Most states require you to carry Workers’ Compensation Insurance if you have employees. There also may be licensing requirements for certain liability coverages. We recommend checking with your state and local governments for LLC insurance requirements.
Yes, your LLC most likely needs insurance even if you have zero employees. While the “Limited Liability” in an LLC protects your personal assets (like your house or savings) from business debts, it does not stop your business from being sued or losing everything it owns. Without LLC insurance, a single lawsuit or accident could financially cripple your company.
There is no functional difference between LLC insurance and general business insurance. “LLC insurance” is simply a contextual term for general business insurance that is tailored to the specific needs of a Limited Liability Company.
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Owner of Room to Breathe Professional Organizing
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*The displayed price for each product is a monthly estimate calculated from the 10th percentile of relevant policies sold by Simply Business (e.g., General Liability data is used for General Liability estimates). This estimate uses data from relevant policy sales between July–December 2025. Final price and payment terms, which may include an initial down payment, are subject to change based on your state, selected insurance provider, and specific business details.
‡ Displayed price is based on the lowest available coverage limit for Equipment and Small Tools policies.
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