Best General Liability Insurance in Mississippi (2024)

Finding the best general liability insurance in Mississippi requires careful consideration of various factors. These include coverage options, pricing, financial strength and customer satisfaction.

After thorough research, The Hartford emerged as the best overall company for general liability insurance in the state. It offers a cost of $43 per month for limited liability companies (LLCs) with 20 employees and $30 per month for sole proprietors with no employees.

The cheapest company in the state is Next, which offers a monthly cost of $28 for LLCs with 20 employees. Sole proprietors with no employees pay $25 per month for coverage.

The Hartford is the top-ranked company for general liability insurance in Mississippi, with a MoneyGeek score of 92 out of 100. The table below displays the cost and MoneyGeek score for all evaluated companies in Mississippi, providing valuable information for business owners searching for the best general liability insurance to meet their specific needs.

Next is the most affordable general liability insurance company in New York, with average rates of $28 per month for LLCs and $25 per month for sole proprietors.

Our affordability score considers the monthly costs for both entity types, allowing us to rank companies accordingly. However, it's worth noting that the winner may not always have the lowest cost for both types of entities.

Nationwide ranks best for employers in our general liability insurance study, earning a MoneyGeek score of 96 out of 100. The average monthly cost for LLCs with 20 employees is $41.

It's worth noting that the number of employees plays a significant role in the cost of general liability insurance. Businesses with fewer than 20 employees can generally expect to pay less than the average cost, while those with a larger employee count may incur higher premiums.

biBERK ranked as the best insurer for sole proprietors with a MoneyGeek score of 97 out of 100. Rankings are based on the average cost for sole proprietors with no employees costing only $23 per month. However, costs could be higher for sole proprietors in riskier industries, such as construction.

While general liability insurance may not be legally required at the state level, business owners should still consider purchasing it for their protection. General liability coverage provides financial security by safeguarding businesses from potential lawsuits and claims of property damage or bodily injury. It covers legal fees, medical expenses and damages, allowing business owners to focus on their operations without the burden of significant financial liabilities. Additionally, even though it may not be mandatory to operate, general liability insurance could be required to obtain business licenses or secure contracts in specific industries.

In Mississippi, businesses are required to have workers' compensation insurance if they have five or more employees. Regarding commercial auto insurance, Mississippi requires all registered business vehicles to have liability coverage. The minimum liability limits are set at $25,000 per person for bodily injury, $50,000 per accident for bodily injury and $25,000 per accident for property damage.

Understanding and adhering to these business insurance requirements in Mississippi is crucial for business owners to operate legally and protect their interests.

In Mississippi, the average monthly cost of general liability insurance is $61 for LLCs and $27 for sole proprietors. The policy limits set are a $2 million aggregate limit, a $1 million occurrence limit and a $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 it will pay for a single claim. The deductible is how much the business must pay out of pocket before the insurer starts paying claims.

The cost of general liability insurance varies for each business depending on several specific factors. These factors play a crucial role in determining coverage costs and premiums.

In Mississippi, business owners should consider buying general liability insurance. To assist business owners in finding the best and most cost-effective insurance providers in the state, we have compiled responses to frequently asked questions.