Best General Liability Insurance in Vermont (2023)

MoneyGeek gathered information about different insurers' financial stability, policy costs, customer satisfaction ratings and online quote process efficiency to determine which companies offer the best general liability insurance in Vermont.

According to our analysis, Thimble is the state's best and cheapest insurance company for general liability insurance. It charges an average monthly cost of $53 for LLCs with 20 employees and $22 for sole proprietors with no employees.

With a MoneyGeek score of 93 out of 100, Thimble is Vermont's best general liability insurance provider. The policy costs and scores for all of the Vermont companies we evaluated are shown in the table below.

Thimble offers the cheapest general liability insurance in Vermont, with average monthly premiums of $53 for LLCs and $22 for sole proprietors.

We generated an affordability score by combining the monthly cost for LLCs and sole proprietors and ranked insurance companies based on that score. Therefore, the top company in this category might not be the cheapest for both LLCs and sole proprietors.

According to MoneyGeek's analysis, Nationwide is the best insurance company for employers in Vermont, earning a score of 98 out of 100. Our ranking for this category is based on the average monthly insurance cost for LLCs with 20 employees. Nationwide charges an average of $34 per month for LLCs.

Insurance companies consider a business’s number of employees when determining general liability insurance costs. Therefore, you will likely get a more expensive rate if your business has over 20 employees, and vice versa.

Thimble provides the best general liability insurance in Vermont for sole proprietors, with a MoneyGeek score of 95 out of 100 and an average cost of $22 per month.

We evaluated insurers for this category based on average monthly costs for sole proprietors with no employees. If you’re in a risker industry like construction, your policy cost may be higher.

Although Vermont law does not require businesses to purchase general liability coverage to operate, it’s still wise to buy a policy, and it may be required to get business licenses or win contracts in certain industries. A general liability insurance policy provides financial protection for businesses against third-party bodily injury and property damage claims, as well as legal fees and damages in the event of a lawsuit.

In Vermont, there are other types of business insurance that are mandatory for businesses to purchase, including workers’ compensation and commercial auto insurance. Workers' compensation is required for businesses that have at least one employee. The only exemptions are casual workers and agricultural workers who make up $10,000 or less in payroll.

In addition, businesses must buy a commercial auto policy for commercial vehicles with the following state-mandated minimum coverage limits:

• $25,000 for bodily injury per person
• $50,000 for bodily injury per accident
• $10,000 for property damage per accident

The average monthly cost of general liability insurance in Vermont is $64 for LLCs and $28 for sole proprietors.

These costs are for a policy with a $2 million aggregate limit, $1 million occurrence limit and $0 deductible. The aggregate limit is the highest amount the insurer will pay out during the policy period, while the occurrence limit is the highest it will pay out for each claim. The policy's deductible is the amount a business pays out of pocket before the insurer starts to contribute.

The cost of a general liability insurance policy differs for each business based on the following factors:

Many companies offer general liability insurance in Vermont, but the best company for you will depend on your needs. MoneyGeek answered the following frequently asked questions to help you understand your options.