Best General Liability Insurance in Kentucky (2024)

To determine the best general liability insurance in Kentucky, we considered several factors, including affordability for LLCs and sole proprietors, customer satisfaction, financial stability and the online quote process. After thorough analysis, Next came out on top as the best and cheapest overall company in Kentucky. For both LLCs with 20 employees and sole proprietors with no employees, Next has an average monthly cost of $25.

The best overall company for general liability insurance in Kentucky is Next, with a MoneyGeek score of 89 out of 100. The table below displays the costs and MoneyGeek scores for all the providers we evaluated in Kentucky to help you choose the best fit for your needs.

Next is the cheapest provider overall, with an average monthly rate of $25 for both sole proprietors and LLCs. Our ranking methodology uses an affordability score that combines the monthly costs for sole proprietors and LLCs, each weighted 50%. While Next ranked as the cheapest overall, it may not offer the cheapest rates for both entity types.

Nationwide has the best general liability insurance in Kentucky for employers, with a MoneyGeek score of 91 out of 100 and an average monthly cost of $38. These rankings are based on the average monthly cost for LLCs with 20 employees. Insurance costs largely depend on employee count, so businesses with fewer than 20 employees can expect to pay less than the average cost, while businesses with a greater employee count can anticipate higher premiums.

Thimble is the top-ranked company for sole proprietors in Kentucky, with a MoneyGeek score of 95 out of 100 and a monthly rate of $22. These rankings are based on the average cost for sole proprietors with no employees. Keep in mind that costs for sole proprietors in riskier industries like construction may be higher due to increased liability.

General liability insurance is not legally required to operate a business in Kentucky. However, it is a highly recommended form of business insurance due to the financial protection it provides against potential lawsuits and liability claims. In addition, it may be required to get business licenses or win contracts in specific industries.

While having general liability insurance is not mandated by law, businesses with one or more employees in Kentucky are legally required to have workers' compensation insurance. The only exemptions are businesses with $20,000 or less in annual payroll expenses and agricultural workers.

In terms of commercial auto insurance, Kentucky’s minimum legal requirements are as follows:

• $25,000 per person
• $50,000 per accident for bodily injury
• $25,000 for property damage

The cost of general liability insurance in Kentucky varies depending on the type of business. For LLCs, the average monthly cost is $44, while for sole proprietors, it is approximately $29.

Our analysis was based on policies with the following limits: $2 million aggregate limit, $1 million occurrence limit and $0 deductible. The aggregate limit refers to the maximum amount the insurance will pay for all claims during the policy period, while the occurrence limit is the maximum amount the insurance will pay for each individual claim. The deductible is the amount that must be paid by the business before the insurance kicks in. A $0 deductible means that the business owner would not have to pay any out-of-pocket expenses before the insurance coverage kicks in to cover a claim.

There are several factors that can impact the cost of general liability insurance for a business, including:

If you’re looking for the best general liability insurance for your needs, here are some answers to the most frequently asked questions to help you.