Insurance costs for a California business depend on the size, risk, industry, and location. The industry is a major determinant of insurance costs. For example, contractors may be at higher risk than IT security professionals due to the physical nature of their work and may use power tools on their client’s property. The deduction amount is also an important factor in determining insurance premiums. The higher the deduction amount, the lower the monthly premium.
The average cost of insuring a small business in California is $ 30 to $ 40 per month. This amount will increase depending on the value of the property and the number of employees. In addition, the spacious grounds increase the risk of accidents. Most policies have two limits: aggregate limits and per-occurrence limits. The total limit is the maximum payment for one year, and the per-event limit is the maximum payment for one bill.
For general liability insurance in the office, the per-event limit is $ 1 million, and the total limit is $ 2 million. On the other hand, most business automation policies use a combination of a single limit range of $ 500,000 to $ 1,000,000.
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