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    lns0720's Avatar
    lns0720 Posts: 20, Reputation: 1
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    #1

    May 4, 2009, 04:52 PM
    Cost of insurance
    Hey,I was wondering how much it would cost to get 1,000,000.00 of insurance for a general contracting buissness.Thinking of opening my own buisnes.Also, would I pay annually,semi annually how would that work? I'm located in Phila PA,Thanks in advance for any feedback.
    jjwoodhull's Avatar
    jjwoodhull Posts: 1,378, Reputation: 239
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    #2

    May 4, 2009, 06:19 PM
    I had $1 million liability policy for a consulting business. It cost $1,400/year. I paid monthly. My business was located in NYC.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    May 4, 2009, 06:52 PM

    What type of insurnce, is it liability insurance, what deductable. Even how long you have been in business. All of that effects cost.

    But 1000 to several 1000 could be possible.
    nikosmom's Avatar
    nikosmom Posts: 1,611, Reputation: 488
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    #4

    May 4, 2009, 07:18 PM

    The specific nature of your contracting business also affects the premium because certain fields pose higher risks. Most companies offer payment plans (monthly, quarterly, semiannually).
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