How this estimate works
Commercial property insurance covers your building if you own it, plus equipment, inventory, furniture and other business property, against fire, theft, storms and other covered perils. Insureon reports that small businesses pay a median of $108 a month, with annual premiums from under $350 to over $15,000. Insureon's figures are medians of policies its small business customers bought from leading insurers; most of those customers have fewer than five employees, revenue from under $50,000 to over $200,000 and five years or less in business.
The calculator multiplies the annual median by an industry ratio where Insureon publishes one (food and beverage $131 a month, consultants $81, real estate businesses $392) and by the state ratio for the ten states Insureon lists.
What drives the price
- The value of the insured property, which is the main factor
- Construction, age and condition of the building, fire protection and security
- Exposure to natural disasters in your area
- Replacement cost versus actual cash value, and the deductible
Limitations
Because the estimate is not based on your property values, use it only as a rough guide. Flood and earthquake damage usually require separate coverage. Many small businesses buy property coverage within a business owner's policy, which can cost less than a standalone policy.
This is an indicative estimate, not an offer of insurance. Policies are issued by licensed insurers and placed through licensed producers in your state. Compare real offers by requesting a quote.