Small-Business Insurance 2026: Are You Paying Too Much?
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Are you paying too much for small-business insurance in 2026? This video explains the most important types of business insurance, what they generally cover, how much they may cost and which policies could be appropriate for different businesses.
We compare general liability insurance, a Business Owner’s Policy, professional liability insurance, errors and omissions insurance, workers’ compensation insurance and cyber liability insurance. You’ll also learn how coverage needs differ for freelancers, consultants, LLC owners, online businesses, contractors, restaurants, retail stores and companies with employees.
In this video, we discuss:
• General liability insurance for customer injuries and third-party property damage
• Business Owner’s Policy, also known as BOP insurance
• Commercial property and business-interruption coverage
• Professional liability and errors and omissions insurance
• Workers’ compensation insurance for businesses with employees
• Cyber insurance for data breaches, ransomware and online risks
• Average small-business insurance costs in 2026
• How deductibles and coverage limits affect premiums
• Ways to compare business insurance quotes and reduce costs
• Which insurance policies different types of small businesses may need
CHAPTERS:
00:00 Small-business insurance in 2026
00:34 Why business insurance prices vary
01:02 General liability insurance
01:43 Business Owner’s Policy
02:25 Professional liability and E&O insurance
03:05 Workers’ compensation insurance
03:38 Cyber liability insurance
04:15 Choosing the right business coverage
04:42 How to reduce insurance costs
Recent small-business insurance cost data suggests that general liability coverage costs approximately $45 per month at the median, while a Business Owner’s Policy costs approximately $83 per month. Professional liability averages around $88 per month, workers’ compensation around $54 per month and cyber insurance around $129 per month among the customers included in the cited dataset.
These are general market figures rather than guaranteed insurance quotes. Your actual premium will depend on your industry, location, revenue, number of employees, claims history, deductible, selected coverage limits and the risks associated with your business.