MoneyGeek looked into different companies’ costs, customer service and financial stability to find the best general liability insurance in Virginia. We found that Nationwide offers the best overall coverage, offering affordable rates of $34 per month for limited liability companies (LLCs) and sole proprietors. The cheapest company is Next, with an average monthly premium of $25 for LLCs with 20 employees and sole proprietors.

The best or the cheapest company for you depends on several factors, like your industry, number of employees, location and more. It’s best to know what your business needs and how much protection you want when looking for a policy.

MoneyGeek Logo IconBest General LiabilityVirginia
2024

Best General Liability Insurance in Virginia

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 Virginia.

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

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Virginia

The overall best company for general liability insurance in Virginia is Nationwide, receiving a MoneyGeek score of 89 out of 100. It has an average premium of $34 per month for both LLCs and sole proprietors. The table below shows the rates and MoneyGeek scores of all the companies we ranked in Virginia.

How was this MoneyGeek score calculated?

NationwideMoneyGeek Score89Monthly Cost Without Employees$34Monthly Cost With 20 Employees$34
NextMoneyGeek Score89Monthly Cost Without Employees$25Monthly Cost With 20 Employees$25
biBERKMoneyGeek Score88Monthly Cost Without Employees$23Monthly Cost With 20 EmployeesNo Data
ThimbleMoneyGeek Score87Monthly Cost Without Employees$22Monthly Cost With 20 Employees$56
HiscoxMoneyGeek Score86Monthly Cost Without Employees$29Monthly Cost With 20 Employees$43
The HartfordMoneyGeek Score85Monthly Cost Without Employees$31Monthly Cost With 20 Employees$47
Best OverallScore: 89
Nationwide
4/5LLC Affordability
1/5Sole Proprietor Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Excellent ratings for customer satisfaction

Affordable option for LLCs with 20 employees

Good financial stability

CONS

Expensive rates for sole proprietors

Takes a while to get a quote

Company Highlights

Nationwide received the best rating for customer satisfaction out of all insurers we reviewed. Based on the national complaint index from the National Association of Insurance Commissioners (NAIC), this company received the least number of complaints among the companies we analyzed for Virginia.

It’s one of the cheapest options for LLCs with 20 employees. This means you can get excellent customer service without breaking the bank. However, the same cannot be said if you’re a sole proprietor, as this company is the most expensive option for you.

Cheapest General Liability Insurance in Virginia

The cheapest company for general liability insurance in Virginia is Next, with average monthly rates of $25 for LLCs with 20 employees and $25 for sole proprietorships. To rank the companies, we prioritized affordability, weighing the cost for both LLCs and sole proprietors for 50% each. Next might not have the lowest rates for both types of businesses.

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 rates for LLCs with 20 employees

Fairly quick quote generation

CONS

Financial stability rating is low

Not the cheapest for sole proprietors

Company Highlights

Next is the most affordable option for LLCs with 20 employees. You can find cheaper rates from other companies if you’re a sole proprietor. This company has one of the fastest times to obtain a quote for your policy. It only takes a little over a minute to get a quote, which can be helpful when you’re shopping around and comparing rates. One important disadvantage of choosing this company is its financial stability, as it scored the lowest out of all the insurers we evaluated in this area.

Best General Liability Insurance for Employers in Virginia

Employers can find the best general liability insurance from Nationwide. It received a MoneyGeek score of 94 out of 100 based on our analysis of its average monthly cost for LLCs with 20 employees. On average, the cost of a Nationwide general liability insurance policy is $34 per month. Employee count can influence your premiums, as having more employees can cost you higher rates.

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

An affordable option

Good customer satisfaction

Financially stable

CONS

Slower quote processing times

Company Highlights

Nationwide combines affordable premiums and quality customer service. It’s one of the cheapest companies for employers in Virginia, with an average cost of $34 per month. It also has the best customer satisfaction rating of the insurers we evaluated based on the NAIC customer complaint index. This means it receives the least number of complaints compared to other companies. However, getting a quote can take a little over two minutes. This is the longest time out of all the companies we analyzed.

Best General Liability Insurance for Sole Proprietors in Virginia

The best general liability insurance for sole proprietors is biBERK, receiving a MoneyGeek score of 97 out of 100. With an average cost of $23 per month, biBERK came out at the top after we analyzed the average cost of a policy for sole proprietors with no employees. Sole proprietors may pay more for their policy if they are in riskier industries, like construction.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 97
biBERK
5/5Sole Proprietor Affordability
4/5Customer Satisfaction
5/5Financial Stability
3/5Online Quote Process
PROS

Affordable rates

Excellent financial stability

Good customer service

CONS

Takes a while to get a quote

Company Highlights

biBERK is one of the cheapest companies for sole proprietors, with an average monthly cost of $23. It also scored best for financial stability, so entrepreneurs can feel confident that their insurer can pay out claims. This company also received a good customer satisfaction score, so you’re less likely to have a complaint regarding their services. It might take a couple of minutes to get a quote from biBERK, but other than that, you have a great chance of getting an affordable policy with good service.

Do You Need General Liability Insurance in Virginia?

General liability insurance is not required for a business to operate. However, you might need it for business licenses or for winning contracts in some industries. It can also be your business’ financial safety net in case of unforeseen events.

This insurance can cover legal fees and judgments, medical bills and property damage, all of which can cost your business thousands of dollars.

Even though you’re not required to purchase general liability insurance, you might need other types of business insurance. In Virginia, businesses with more than two employees need workers’ compensation insurance. Businesses should also purchase commercial auto insurance with the following coverage limits:

  • $25,000 per person
  • $50,000 per accident for bodily injury
  • $20,000 for property damage
smallBusiness icon
SMALL BUSINESS RESOURCES IN VIRGINIA

The Business Development and Outreach Services (BDOS) provides business counseling, conferences and aid in licensing to small business owners. One of their programs is Scaling4Growth, a seven-month program for business development training.

How Much Is General Liability Insurance in Virginia?

The average cost of general liability insurance in Virginia is $41 per month for LLCs with 20 employees and $27 per month for sole proprietorships. These average rates are based on policies with a $2 million aggregate limit, $1 million occurrence limit and $0 deductible.

Your aggregate limit is the maximum amount your policy will cover for the policy period. The occurrence limit is the amount your insurance will cover for each claim. The deductible is the amount you pay from your pocket before your insurance starts covering a claim.

Factors That Impact General Liability Insurance Costs in Virginia

The cost of general liability insurance depends on many factors, such as your industry, policy limits, number of employees and more. Here’s how they affect your premiums:

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    Policy limits

    These limits determine the amount that your insurance will have to cover in case of a claim. If your insurer has to cover a larger amount, you’ll typically have to pay higher premiums.

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    Number of employees and payroll costs

    Having high payroll costs and more employees can increase your premiums. For instance, the average cost of general liability insurance in Virginia is $41 per month for an LLC with 20 employees, while it only costs $27 for a sole proprietorship.

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    Business location

    Doing business in riskier locations means you’ll have a greater chance of damage or injury, and your insurer may have to cover more. This increased risk may raise your premiums. The average rates we gathered may vary for every city.

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    Claims history

    Your premiums could be more expensive if your business has filed claims in the past. Having a history of filing claims may cause an insurer to perceive your business as high-risk.

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    Industry

    High-risk industries, like construction, may receive higher rates for general liability insurance. The table below shows the differences in rates for various industries in Virginia.

CleaningMonthly Cost Without Employees$40Monthly Cost With 20 Employees$910
General ContractorMonthly Cost Without Employees$83Monthly Cost With 20 Employees$1,278
Software DevelopmentMonthly Cost Without Employees$27Monthly Cost With 20 Employees$41

Frequently Asked Questions About General Liability Insurance in Virginia

Shopping for an insurance policy can leave you with a lot of questions. To help you figure out what you’re looking for, we answered frequently asked questions about general liability insurance in Virginia.

Which company has the best general liability insurance in Virginia?
Which company has the cheapest general liability insurance in Virginia?
What does general liability insurance cover in Virginia?
Does Virginia require businesses to have general liability insurance?

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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