Your Guide to $1M Liability Insurance Premiums

Your Guide to $1M Liability Insurance Premiums

Understanding Your $1 Million Liability Insurance Options Liability insurance 1 million typically costs between $42 to $85 per month for small businesses, though your actual premium depends on several key factors: Industry Risk Level: Construction companies pay more than consultants Business Location: Urban areas often cost more than rural Claims History: A clean record means lower premiums Revenue & Size: Larger operations generally pay higher premiums Coverage Structure: Most $1M policies include a $2M aggregate limit What You’re Actually Buying: A $1 million policy means your insurer will pay up to $1 million per incident (per-occurrence limit), with most policies capping total annual payouts at $2 million (aggregate limit).