Best General Liability Insurance in Montana (2024)

Using data on affordability, customer satisfaction, financial stability and online quote processing, MoneyGeek picked Montana’s best general liability insurance providers. Thimble was chosen as the best option. Its typical monthly premium for limited liability companies (LLCs) with 20 employees is $65, while it is $22 for sole proprietors with no employees.

Next provides Montana business owners on a budget with the cheapest general liability insurance. LLCs with 20 employees generally pay $27 per month for coverage and sole proprietors with no employees pay around $25 monthly.

Thimble is the best-rated general liability insurance company in Montana, earning a MoneyGeek score of 92 out of 100. The table below lists our assessments of each Montana-based company, along with the average premiums and MoneyGeek ratings for each.

With monthly premiums as low as $27 for LLCs and $25 for sole proprietors, Next's general liability insurance in Montana is overall the most affordable option in the state.

When assessing companies in this field, we devised an affordability score that integrates the monthly fees for LLCs and sole proprietors, each of which carries a 50% weight. However, the company with the overall cheapest rating does not always mean the cheapest for both LLCs and sole proprietors.

Nationwide is the best option for general liability insurance in Montana, earning a MoneyGeek score of 97 out of 100. The typical premium for this provider is $40 per month.

MoneyGeek ranked the average monthly cost of LLCs with 20 employees. The premiums for general liability insurance vary based on the number of employees. Having fewer than 20 employees will be less expensive than our average, whereas having more than 20 employees might cost you more.

With a MoneyGeek score of 95 out of 100, Thimble is the best option for sole proprietors in Montana seeking general liability insurance. The monthly average cost of insurance from this provider is $22.

MoneyGeek assessed this category's rankings using the average costs for sole proprietors. The premiums for general liability insurance might be higher for those who work in riskier industries, such as construction.

General liability insurance is not mandatory at the state level like workers' compensation and commercial auto insurance are. However, it might make sense in some fields, especially if you are trying to get a company license or secure contracts. It provides financial protection against the following:

• Third-party bodily injuries: If a customer is injured on your business's premises, general liability insurance can be used to help pay for their medical bills.
• Third-party property damage: If your company or its employees cause property damage, general liability insurance will cover the costs of maintenance or replacement.
• Personal and advertising injury: The general liability insurance will pay the associated legal costs and damages if the business or its employees are sued for libel, copyright infringement or slander.

When doing business in some fields, acquiring general liability insurance might be a prerequisite to being awarded a contract or receiving a company license.

Businesses in Montana with even one employee are required by law to have workers' compensation insurance, among other business insurance policies. In addition, they need to have the following minimum limits on their commercial car insurance for driving company-owned vehicles:

• $25,000 per person
• $50,000 per accident for bodily injury
• $20,000 for property damage

In Montana, the average monthly premium for general liability insurance for an LLC with 20 employees is $83, whereas the premium for a sole proprietor with no employees is only $29.

These prices apply to a policy with a deductible of $0, an occurrence limit of $1 million and an aggregate limit of $2 million. The aggregate limit of a policy is the maximum amount that the insurer will pay out in claims for the term of the policy, whereas the occurrence limit is the maximum amount that the insurer will pay out for a single claim. The deductible is the out-of-pocket expense that company owners must shoulder before their insurance coverage takes effect.

The cost of general liability insurance will change based on the following factors:

The best general liability insurance policy for your business depends on your specific needs and other factors. For additional information, we answered some questions about general liability insurance in Montana.