Best General Liability Insurance in Louisiana (2023)

MoneyGeek considered key factors such as affordability, customer satisfaction, financial stability and the online quote process to find which company offers the best general liability insurance in Louisiana. The Hartford came out on top for its overall blend of affordability and service quality. On average, its policies cost $31 per month for sole proprietors with no employees and $54 per month for LLCs with 20 employees.

For small business owners on a budget, we discovered that Next is the cheapest option for general liability insurance. It provides the lowest average rate for LLCs at $28 per month and the second-lowest rate for sole proprietors at $25 per month.

We found that the best general liability insurance in Louisiana is offered by The Hartford, which received a MoneyGeek score of 91 out of 100. The table below shows our rankings of insurers in the state along with their average costs and MoneyGeek scores.

Next provides the most affordable rates overall for general liability insurance in Louisiana, with an average monthly premium of $25 for sole proprietors and $28 for LLCs.

In this category, we ranked companies by generating an affordability score that combines the average monthly cost for sole proprietors and LLCs. As such, our winner may not be the cheapest for both entity types.

Louisiana employers looking for general liability insurance may consider The Hartford as the best option. The company offers policies at roughly $54 per month and earned a MoneyGeek score of 97 out of 100.

We ranked companies in this category based on the average monthly cost for LLCs with 20 employees. Employee count plays a significant role in the cost of general liability insurance. Companies with more employees will likely pay a higher premium for coverage, whereas those with fewer than 20 employees will likely pay less than the average.

With a MoneyGeek score of 95 out of 100, Thimble is the best option for Louisiana sole proprietors looking for general liability insurance. An average policy from this company costs $22 per month.

Our rankings for companies in this category are based on the average monthly cost for sole proprietors with no employees. Those in high-risk industries, such as construction, often have higher insurance costs.

Louisiana state law doesn’t require business owners to carry general liability insurance, but getting coverage is advisable to financially protect your business from the following situations:

• Third-party bodily injury: General liability insurance helps cover medical costs if a client injures themselves at your business.
• Third-party property damage: General liability insurance covers repair or replacements costs if your business or employees accidentally damage someone else’s property.
• Personal and advertising injury: If someone sues your business or employees for libel, slander, false advertising or copyright infringement, general liability insurance covers your defense costs and damages.

While general liability insurance isn’t mandated by law, it may be required to obtain business licenses or win contracts in specific industries.

Louisiana business owners are required to maintain other types of business insurance, such as workers’ compensation insurance if they have one or more employees, regardless of whether they are part-time, full-time, temporary or seasonal employees. However, certain employees are exempt from this coverage, including certain musicians and performers, landmen and those employed by a private residence or private unincorporated farm.

Louisiana employers are also required to have commercial auto insurance for vehicles used for business purposes, adhering to the following state minimum requirements:

• $15,000 per person for bodily injury liability
• $30,000 per accident for bodily injury liability
• $25,000 per accident for property damage liability

The average cost of general liability insurance in Louisiana is $27 per month for sole proprietors and $130 per month for LLCs. Keep in mind that these rates are for a policy with a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible.

The aggregate limit is the maximum amount of money your insurance company will pay out for all your claims filed during a policy term, while the occurrence limit is the maximum amount of money your insurer will pay per claim. The deductible is the out-of-pocket expense you have to pay before your provider provides financial coverage.

How much a business owner will pay for general liability insurance depends on the following factors:

Shopping for general liability insurance in Louisiana can be challenging, especially with different options available. To help ease this process, we answered some commonly asked questions.