The
following is my answer to a Quora question: “How
much does liability insurance cost for a business?”
There
is no fixed cost. It depends on what,
and how much you want to cover. The
insurer needs to quantify the exposure to different categories of risk before
they can underwrite, and then quote you the premium for the duration of
coverage.
In
any case, whatever the premium, as long as you are able, you should take it
since the claim experience tends to be high overall. Whatever you pay in premium is definitely
lower than any liability you would incur.
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