Best General Liability Insurance in Massachusetts (2024)
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MoneyGeek ranked the best general liability insurance in Massachusetts based on an analysis of insurers’ affordability, customer satisfaction, financial stability and online quote processes. Thimble emerged as the best insurer overall, earning a MoneyGeek score of 93 out of 100. The company also won for the cheapest insurer in Massachusetts. Thimble’s general liability insurance costs an average of $22 per month for sole proprietors and $63 per month for LLCs.
Best Overall General Liability Insurance in Massachusetts
Thimble is the best general liability insurance company in Massachusetts, earning a MoneyGeek score of 93 out of 100.
For this study, we analyzed six insurers in Massachusetts. The table below shows their MoneyGeek scores along with their average monthly costs.
Most affordable company for sole proprietors
Quick online quote process
High financial strength ratings
Below-average complaints score
Relatively expensive for LLCs
Thimble is MoneyGeek’s pick for the best general liability insurance in Massachusetts. This insurer offers the most affordable average rates for sole proprietors with no employees at $22 per month but has relatively high rates for LLCs at $63 per month.
Thimble boasts a strong financial strength rating, indicating that it is likely to be able to pay out claims and fulfill its contractual obligations. The company also has the quickest online quote application process among the insurers we analyzed. On average, it will take you less than a minute to get a quote.
Cheapest General Liability Insurance in Massachusetts
Thimble offers the cheapest general liability insurance in Massachusetts at an average of $22 per month for sole proprietors and $63 per month for LLCs.
Moneygeek determined the cheapest company based on an affordability score that combines the monthly cost for sole proprietors and the monthly cost for LLCs (both weighted 50%). As such, the cheapest insurer may not have the lowest cost for both sole proprietors and LLCs.
Cheapest insurer for sole proprietors
Fastest online quote system out of six insurers
High financial strength ratings
Not the cheapest LLC compan
Relatively high rate of complaints
Thimble emerged as the most affordable company overall for general liability insurance in Massachusetts. With an average rate of $22 per month, Thimble offers the cheapest policies for sole proprietors. For LLCs, Thimble’s rates average $63 per month, the fourth cheapest out of six insurers in the comparison group.
In addition to affordable rates, Thimble has an efficient online quote system, and in most cases, you can get a quote in less than a minute. This company also has strong financial strength ratings, which is a good indicator that the company can meet its financial obligations to policyholders.
Best General Liability Insurance for Employers in Massachusetts
Nationwide is the best general liability insurer for employers in Massachusetts, according to our study. Nationwide earned a Moneygeek score of 97 out of 100 and is the cheapest LLC company, with an average rate of $44 monthly.
These rankings are based on monthly costs for LLCs with 20 employees. Employee count has a significant impact on insurance costs — LLCs with fewer than 20 employees will likely pay less than the average cost, while those with a greater employee count will likely pay more.
Second cheapest company for LLCs
Strong financial strength rating
Excellent customer satisfaction score
Slower-than-average quote system
Moneygeek found that Nationwide offers the best general liability insurance in Massachusetts for employers. This insurer balances affordability and a strong customer service track record, offering employers the best value among the insurers in our comparison group.
With an average rate of $44 per month, Nationwide is the second-cheapest company for LLCs with 20 employees. This company also receives fewer complaints than the average insurer, meaning that policyholders can expect great customer service.
Based on its high financial strength rating from AM Best, Nationwide can also meet its financial obligations, including payment of claims. Although Nationwide offers online quotes, expect the process to take longer than average.
Best General Liability Insurance for Sole Proprietors in Massachusetts
biBERK is the best general liability insurer for sole proprietors in Massachusetts, with a MoneyGeek score of 97 out of 100. A policy costs an average of $23 per month, the second-cheapest rate among the six companies analyzed.
This analysis is based on average rates for a sole proprietor with no employees. Rates may be higher for sole proprietors in risky industries like construction.
Second-cheapest company for sole proprietors
High customer satisfaction and financial strength ratings
Relatively slow online quote process
Sole proprietors in Massachusetts will find the best general liability insurance from biBERK. This company offers a balance of affordable rates and quality service, meaning policyholders get good value for their money.
biBERK receives fewer complaints than the average for a company of its size, indicating that you can expect good service from this provider. It also has a high financial strength rating, so it is generally able to meet its financial obligations, including payment of claims.
Although biBERK has a good customer service track record, their online quote system can be slow compared to the average turnaround time offered by other insurers.
Do You Need General Liability Insurance in Massachusetts?
Massachusetts law does not require businesses to carry general liability insurance, but it still makes sense to purchase a policy since it provides financial protection against liability claims and lawsuits from third parties. In addition, it may be required to obtain business licenses or win contracts in specific industries.
Some of the protections offered by general liability insurance include:
- Third-party bodily injuries: A general liability policy will cover medical expenses if a third party suffers injuries at your business.
- Third-party property damage: A general liability policy will cover damages caused by your business or employees to someone else’s property.
- Personal and advertising injury: General liability insurance covers your legal expenses and damages if your business or employees are sued for libel, slander or copyright infringement.
The business insurance requirements in Massachusetts require all businesses to have workers' compensation insurance. Only domestic employees working less than 16 hours per week are exempt.
Businesses are also required to have commercial auto insurance for company-owned vehicles with at least the following limits:
- $20,000 bodily injury liability per person
- $40,000 bodily injury liability per accident
- $5,000 property damage liability per accident
Small businesses starting or expanding their operations in Massachusetts can get assistance from The Massachusetts Office of Business Development (MOBD), which offers assistance for obtaining funding through various programs, microlending and community development. Massachusetts also offers support to small businesses through the Massachusetts Small Business Development Center Network (MSBDC).
How Much Is General Liability Insurance in Massachusetts?
The average cost of general liability insurance in Massachusetts is $79 per month for LLCs with 20 employees and $28 per month for sole proprietors.
These rates are based on a policy with a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible. The aggregate limit is the maximum amount that the policy can pay out for claims during a policy period, and the occurrence limit is the maximum amount that the policy can pay per claim. The deductible is the amount that the business owner needs to pay before the insurance kicks in.
Factors That Impact General Liability Insurance Costs in Massachusetts
The cost of general liability insurance varies for each business based on the following factors:
Frequently Asked Questions About General Liability Insurance in Massachusetts
MoneyGeek answered frequently asked questions about general liability insurance to help you find the best providers in Massachusetts.
About Melissa Wylie
Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.
Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.
Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.
Melissa's other work can be read on LendingTree and Bizwomen.
sources
- Mass.gov. "Small Business Guide from MOBD." Accessed May 8, 2023.