The best general liability insurance companies in North Carolina were chosen by MoneyGeek based on their rates, financial standing, client service and ease of the online quote process. Excellent ratings across the board led to Nationwide being named the overall winner. This insurer imposes a $32 average monthly cost for both limited liability companies (LLCs) with 20 staff members and sole proprietors without employees.

In North Carolina, Next offers small businesses with limited funds the cheapest general liability insurance. The cost of general liability insurance from Next is $25 per month for both LLCs and sole proprietors.

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Best Overall General Liability Insurance in North Carolina

With a MoneyGeek score of 89 out of 100, Nationwide delivers the overall best general liability insurance in North Carolina. Insurers we examined in North Carolina are ranked in the table below. This table also shows their average costs and MoneyGeek scores.

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Cheapest General Liability Insurance in North Carolina

Next offers the most affordable general liability insurance in North Carolina, with an average monthly premium of $25 for both LLCs and sole proprietors.

To assess companies in this category, MoneyGeek developed an affordability score that takes into account monthly rates for sole proprietors and LLCs. The winner's rate for these entities may not be the cheapest.

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Best General Liability Insurance for Employers in North Carolina

With a score of 94 out of 100, Nationwide provides the best general liability insurance for employers in North Carolina, charging a $32 average monthly rate.

The number of workers you have significantly impacts insurance prices. We ranked insurers using the average monthly cost for LLCs with 20 employees as a starting point. Those with fewer than 20 employees will likely pay less than average, while those with above 20 employees will likely pay more.

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Best General Liability Insurance for Sole Proprietors in North Carolina

Having received a MoneyGeek rating of 96 out of 100, biBERK is the best general liability insurance for sole proprietors in North Carolina. An insurance policy from this provider has an average monthly rate of $23.

We rated businesses based on the typical costs for sole proprietors with no employees. Rates could be higher based on the industry the business is in. For example, construction businesses tend to pay higher premiums.

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Do You Need General Liability Insurance in North Carolina?

Obtaining insurance is beneficial for all businesses because incidents and other unforeseen events can happen at any time. Although not mandated in North Carolina, general liability insurance is advised. This insurance financially protects you and your business from:

  • Third-party property damage: Covers costs associated with property damage to third parties brought on by your company or its personnel.
  • Third-party physical injuries: Assists in covering medical expenses in the event that a client is hurt while visiting your establishment.
  • Personal and advertising injury: Covers your legal costs and damages if a customer or worker files suit against your company or employees.

In some industries, obtaining general liability insurance might be required in order to get licenses or business permits.

A North Carolina business must have workers' compensation insurance as well as other types of business insurance if it has at least three staff members. Companies must also have commercial car insurance with at least the following coverage limits for company-owned vehicles:

  • $30,000 per person
  • $60,000 per accident for bodily injury
  • $25,000 for property damage
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SMALL BUSINESS RESOURCES IN NORTH CAROLINA

There are numerous free resources available to anyone looking to launch a business in North Carolina. You may interact with mentors, business advisors, lenders and more through the Rural RISE NC initiative. You can also learn about additional requirements based on your business by accessing the resources for beginning a business in one place.

How Much Is General Liability Insurance in North Carolina?

General liability insurance in North Carolina costs an average of $42 each month for LLCs with 20 workers and $27 per month for sole proprietors without employees. These costs are based on an insurance plan with a $0 deductible, a $2 million aggregate limit and a $1 million occurrence limit:

Here’s a breakdown of what these terms mean:

  • Deductible: The amount that business owners must pay prior to insurance starting to pay claims.
  • Aggregate limit: The maximum sum that the insurance company is able to pay out for claims during the period of the policy.
  • Occurrence limit: The maximum amount that the company can pay for each claim.

Factors That Impact General Liability Insurance Costs in North Carolina

Every insurance company's rates for general liability insurance are different and depend on a number of important factors:

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Frequently Asked Questions About General Liability Insurance in North Carolina

General liability insurance can be a wise investment to financially safeguard your business. We addressed a few frequently asked questions to help you decide if it’s the right choice for your company.

Nationwide offers the best general liability insurance in North Carolina. It features outstanding customer service, affordability and strong financial stability. A different option could be a better fit for you given your coverage needs and number of employees.

Next offers the most affordable general liability insurance overall. It offers a fast quote processing time. The most inexpensive option for you would depend on a variety of factors, one of which is the total number of employees.

In North Carolina, general liability insurance can financially protect your company from claims that you are to blame for someone else's property destruction, personal injury or reputational harm.

Although general liability insurance is optional in North Carolina, buying insurance is encouraged. It is a smart choice for protecting the assets of your business from liability claims filed by other parties.

About Melissa Wylie


Melissa Wylie headshot

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.


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