I want to insure my 'small business'

Question

for $450,000 and i want to know how much a month i would aprox pay? this is for a school assignment. thanks

Answer 1

Your school wants you to approximate the cost of insuring a $450,000 business? What school do you go to?

Besides, they're asking you a loaded question. The cost of insurance depends upon the type and nature of the business, the need for insurance of the property, liability, autos, etc. There is no general answer or approximate cost.

There are different insurance policies for different small businesses. Some may just need E&O (errors and omissions) liability insurance. Some small businesses have cars and properties that need to be insured in that small business account.

Answer 2

If you have an office exposure (accounting firm, doctors office, etc.) I bet you could get coverage for less than $5000... if you are a manufacturing type risk (wood worker, metal shop, etc.) it could easily be $10,000

Hope that helps a little.