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.

MoneyGeek Logo IconBest General LiabilityNorth Carolina
2024

Best General Liability Insurance in North Carolina

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in North Carolina.

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Coverage costs and company information for general liability insurance providers in North Carolina were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

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.

How was this MoneyGeek score calculated?

Nationwide89$32$32
Next88$25$25
biBERK88$23No Data
Thimble86$22$53
The Hartford86$30$44
Hiscox83$29$55
Best OverallScore: 89
Nationwide
4/5LLC Affordability
1/5Sole Proprietor Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Outstanding customer service

Excellent AM Best financial stability rating

Low average prices for LLCs

CONS

Slow quote speeds

Not the cheapest option for sole proprietors

Company Highlights

Nationwide provides the overall best general liability insurance in North Carolina. This insurer strikes a balance between two important customer concerns, including excellent customer service and strong financial stability. However, Nationwide has a longer time to process online quotes compared to its competitors.

The average rate of Nationwide’s insurance policy for LLCs, at $32 a month, is among the affordable options for consumers. This is the same average monthly rate for sole proprietors but is considered expensive if compared to other insurers’ estimates for this business entity.

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.

How was this MoneyGeek score calculated?

CheapestScore: 96
Next
5/5LLC Affordability
4/5Sole Proprietor Affordability
0/5Customer Satisfaction
2/5Financial Stability
4/5Online Quote Process
PROS

Cheapest average monthly rate for LLCs

Among the fastest online quote process for customers

CONS

Low financial stability score

Company Highlights

Next has the most affordable general liability insurance in North Carolina. With a $25 monthly fee, this insurer has the most competitive cost for LLCs. Sole proprietors have the same average monthly rate, but it is not the cheapest option.

Next promises customers a quick online quote process, having the second-fastest turnaround time of the five companies we looked at. It’s worth noting that other insurance companies we evaluated have higher financial stability ratings.

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.

How was this MoneyGeek score calculated?

Best for EmployersScore: 94
Nationwide
4/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Outstanding AM Best financial stability rating

Provides second-cheapest average monthly rate

Fewer complaints vs. the average insurer

CONS

Slow online quote process

Company Highlights

With its top-notch customer support, competitive rates and strong financial standing, Nationwide offers the best general liability insurance for employers in North Carolina. At $32 per month, the average insurance rate for LLCs with 20 employees ranks second for affordability. However, among the insurers we analyzed, Nationwide takes longer to complete its online quote process.

Nationwide protects the financial health of businesses from unanticipated circumstances. This insurer regularly goes above and beyond what is expected of it by customers, considering the minimal amount of complaints it receives.

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.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 96
biBERK
5/5Sole Proprietor Affordability
4/5Customer Satisfaction
5/5Financial Stability
3/5Online Quote Process
PROS

Good customer service

Outstanding AM Best financial strength rating

Affordable average monthly rate

CONS

Online quote system is slow

Company Highlights

biBERK provides the best general liability insurance for sole proprietors in North Carolina. It has a high financial strength grade from AM Best since it is backed by the Berkshire Hathaway Insurance Group. With average monthly fees of $23, this insurer has one of the most reasonably priced rates available.

This provider received fewer complaints than average, indicating that policyholders are happy with their interactions with the company. However, biBERK’s online quote system takes longer than other insurers we reviewed.

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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    Policy limits

    General liability insurance provides coverage for both the aggregate limit and the occurrence limit. Increased limits typically have a higher monthly premium, while lower limits cost less each month.

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    Number of employees and payroll costs

    The quantity of workers you hire has a big impact on your insurance premiums. General liability insurance premiums might go up if you employ extra workers. This can be seen in the $15 monthly price difference between LLCs and sole proprietor insurance costs in North Carolina.

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    Business location

    The cost of general liability insurance may differ based on where your business is located. Since they are more likely to file a claim, businesses that conduct business in densely populated areas are subject to more expensive charges. City rates can also vary from statewide averages.

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    Claims history

    Business owners who have never submitted an insurance claim commonly employ risk management strategies. As a result, they frequently pay less for insurance than those that have previously submitted claims since they are viewed as less risky to cover.

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    Industry

    What type of industry you are in can have an impact on your insurance rate. For instance, a career in a high-risk industry might significantly affect the cost of general liability insurance. In the chart below, you can see how the average cost of general liability insurance in North Carolina changes based on the industry.

Software Development$27$42
General Contractor$149$1,878
Cleaning$54$789

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.

Which company has the best general liability insurance in North Carolina?

Which company has the cheapest general liability insurance in North Carolina?

What does general liability insurance cover in North Carolina?

Does North Carolina require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.

Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.


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