How much does professional liability insurance cost?

Costs vary based on factors like industry, business size, claims history, and coverage limits, but can range from a few hundred to several thousand dollars annually.

The cost of professional liability insurance varies based on factors like the type of business, coverage limits, location, and claims history. Policies typically range from $500 to $2,000 annually for small businesses.

A small design firm pays $1,200 annually for professional liability insurance due to the high value of their client contracts.

Discuss with your insurer whether prior acts coverage is necessary for your business, especially if you have completed high-value projects in the past.