We found that The Hartford offers the most affordable professional liability insurance at $72 monthly ($858 annual), with NEXT Insurance and Progressive Commercial keeping monthly rates below $76. The table below shows costs from all companies we analyzed:
Cheap Professional Liability Insurance
Updated: July 31, 2025
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Key Takeaways
Our research shows that The Hartford, NEXT Insurance and Progressive Commercial offer the cheapest professional liability insurance rates.
Your industry, coverage limits and claims history affect your professional liability policy cost the most.
To find affordable professional liability coverage immediately, compare quotes, pay annually, raise deductibles and choose industry-specific insurers.
Cheap Professional Liability Insurance Companies
How Do We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies. Rates shown are based on standardized business profiles and may not reflect your actual costs.
LEARN MORE ABOUT PROFESSIONAL LIABILITY INSURANCE
For more insights beyond finding cheap rates, these guides cover coverage fundamentals, detailed cost analysis and top provider comparisons:
Cheap Professional Liability Insurance Companies by Industry
Out of 79 industries we analyzed, The Hartford offers the cheapest professional liability insurance in 71. Coverdash and Chubb each lead in two industries:
| Accountants | The Hartford | $130 |
| Ad Agency | Nationwide | $47 |
| Auto Repair | The Hartford | $74 |
| Automotive | The Hartford | $67 |
| Bakery | The Hartford | $47 |
| Barber | The Hartford | $38 |
| Beauty Salon | The Hartford | $44 |
| Bounce House | The Hartford | $53 |
| Candle | The Hartford | $37 |
| Cannabis | The Hartford | $110 |
| Catering | The Hartford | $71 |
| Cleaning | The Hartford | $49 |
| Coffee Shop | The Hartford | $55 |
| Computer Programming | The Hartford | $94 |
| Computer Repair | The Hartford | $56 |
| Construction | Coverdash | $41 |
| Consulting | The Hartford | $96 |
| Contractor | The Hartford | $45 |
| Courier | Chubb | $34 |
| DJ | The Hartford | $41 |
| Daycare | The Hartford | $96 |
| Dental | Thimble | $62 |
| Dog Grooming | The Hartford | $49 |
| Drone | The Hartford | $95 |
| Ecommerce | The Hartford | $55 |
| Electrical | Simply Business | $42 |
| Engineering | Coverdash | $72 |
| Excavation | The Hartford | $61 |
| Florist | The Hartford | $34 |
| Food | NEXT Insurance | $26 |
| Food Truck | The Hartford | $52 |
| Funeral Home | The Hartford | $73 |
| Gardening | The Hartford | $36 |
| HVAC | The Hartford | $73 |
| Handyman | The Hartford | $48 |
| Home-based business | The Hartford | $33 |
| Hospitality | The Hartford | $65 |
| Janitorial | The Hartford | $44 |
| Jewelry | The Hartford | $55 |
| Junk Removal | The Hartford | $60 |
| Lawn/Landscaping | The Hartford | $46 |
| Lawyers | The Hartford | $130 |
| Manufacturing | The Hartford | $53 |
| Marine | The Hartford | $78 |
| Massage | The Hartford | $94 |
| Mortgage Broker | The Hartford | $149 |
| Moving | The Hartford | $73 |
| Nonprofit | The Hartford | $45 |
| Painting | The Hartford | $57 |
| Party Rental | The Hartford | $49 |
| Personal Training | The Hartford | $63 |
| Pest Control | The Hartford | $85 |
| Pet | The Hartford | $41 |
| Pharmacy | Chubb | $46 |
| Photography | The Hartford | $57 |
| Physical Therapy | The Hartford | $84 |
| Plumbing | The Hartford | $80 |
| Pressure Washing | The Hartford | $51 |
| Real Estate | The Hartford | $113 |
| Restaurant | The Hartford | $73 |
| Retail | The Hartford | $49 |
| Roofing | The Hartford | $87 |
| Security | The Hartford | $89 |
| Snack Bars | The Hartford | $43 |
| Software | The Hartford | $85 |
| Spa/Wellness | The Hartford | $98 |
| Speech Therapist | The Hartford | $88 |
| Startup | The Hartford | $64 |
| Tech/IT | The Hartford | $88 |
| Transportation | The Hartford | $85 |
| Travel | The Hartford | $87 |
| Tree Service | The Hartford | $68 |
| Trucking | The Hartford | $99 |
| Tutoring | The Hartford | $54 |
| Veterinary | The Hartford | $103 |
| Wedding Planning | The Hartford | $68 |
| Welding | The Hartford | $68 |
| Wholesale | The Hartford | $55 |
| Window Cleaning | The Hartford | $56 |
How Do We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies.
Cheap Professional Liability Insurance Companies by State
| Alabama | The Hartford | $70 |
| Alaska | NEXT Insurance | $67 |
| Arizona | NEXT Insurance | $66 |
| Arkansas | The Hartford | $68 |
| California | The Hartford | $80 |
| Colorado | NEXT Insurance | $70 |
| Connecticut | The Hartford | $78 |
| Delaware | NEXT Insurance | $75 |
| Florida | The Hartford | $78 |
| Georgia | The Hartford | $73 |
| Hawaii | NEXT Insurance | $77 |
| Idaho | NEXT Insurance | $67 |
| Illinois | The Hartford | $78 |
| Indiana | The Hartford | $69 |
| Iowa | The Hartford | $68 |
| Kansas | The Hartford | $69 |
| Kentucky | The Hartford | $66 |
| Louisiana | The Hartford | $83 |
| Maine | NEXT Insurance | $63 |
| Maryland | The Hartford | $68 |
| Massachusetts | The Hartford | $75 |
| Michigan | The Hartford | $67 |
| Minnesota | The Hartford | $67 |
| Mississippi | The Hartford | $71 |
| Missouri | The Hartford | $71 |
| Montana | The Hartford | $70 |
| Nebraska | The Hartford | $68 |
| Nevada | NEXT Insurance | $80 |
| New Hampshire | The Hartford | $71 |
| New Jersey | The Hartford | $81 |
| New Mexico | The Hartford | $72 |
| New York | NEXT Insurance | $82 |
| North Carolina | The Hartford | $62 |
| North Dakota | NEXT Insurance | $63 |
| Ohio | The Hartford | $66 |
| Oklahoma | The Hartford | $67 |
| Oregon | The Hartford | $66 |
| Pennsylvania | The Hartford | $83 |
| Rhode Island | The Hartford | $78 |
| South Carolina | The Hartford | $73 |
| South Dakota | The Hartford | $67 |
| Tennessee | The Hartford | $69 |
| Texas | The Hartford | $72 |
| Utah | NEXT Insurance | $67 |
| Vermont | The Hartford | $69 |
| Virginia | The Hartford | $65 |
| Washington | The Hartford | $81 |
| West Virginia | The Hartford | $76 |
| Wisconsin | The Hartford | $70 |
| Wyoming | The Hartford | $66 |
How Do We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies. Professional liability insurance requirements and regulations vary by state. Some states have specific licensing requirements or mandatory coverage amounts for certain professions. Check with a licensed insurance professional in your state for specific requirements.
How to Get Cheap Professional Liability Insurance
Getting professional liability insurance at the right price takes some strategy. These approaches help you lower your insurance costs while getting the financial protection you need:
Determine if you actually need professional liability insurance.
Some low-risk businesses may not require coverage, while others need specific amounts based on client contracts. A freelance writer creating small blogs faces different exposure than a financial advisor managing million-dollar portfolios.
Match your coverage to your actual risk.
You don't need the maximum limits just because they're available. For example, a consultant working from home with small clients might only need $500,000 in coverage, but a firm handling Fortune 500 accounts should consider $2 million or higher.
Look for insurers who know your field.
Companies specializing in your industry often charge less because they understand what you face. Health care professionals usually get better rates from medical malpractice insurers than from general business insurance companies.
Compare quotes from multiple insurers.
Rates vary dramatically between providers for identical coverage. We found that The Hartford offers an average monthly premium of $72, while Chubb charges $89 for the same coverage. That's over $200 in annual savings.
Pay your premium all at once.
Monthly payment plans come with extra fees. You'll spend less overall by paying the full year upfront instead of spreading it across 12 months.
Opt for a higher deductible to cut monthly costs.
A deductible is the amount you pay out-of-pocket before your insurance coverage begins paying for a covered claim. The higher deductible you choose, the lower your monthly premium will be. Just ensure you have the deductible amount readily available in your business accounts.
Bundle with other business insurance.
Most insurers offer package discounts when you combine professional liability with general liability or business owner's policies (BOPs), which bundle multiple types of business insurance into one convenient package. A marketing agency could save hundreds of dollars annually by bundling instead of purchasing separate policies.
Implement strong risk management practices.
Insurers reward businesses that demonstrate proactive risk control through documented procedures, client contracts and employee training. An accounting firm with comprehensive client engagement letters and data security protocols might qualify for meaningful discounts.
Keep your claims record spotless.
Insurers look at your history when setting rates. If you haven't filed claims recently, you'll likely get discounts. File several claims and expect to pay more.
Cheapest Professional Liability Insurance: Bottom Line
Finding cheap professional liability insurance starts with understanding what coverage you actually need. We found that The Hartford, NEXT Insurance and Progressive Commercial offer the best rates. Getting multiple quotes, paying your premium annually and choosing a deductible you can comfortably afford helps lower your insurance costs.
Affordable Professional Liability Insurance: FAQ
Small business owners shopping for cheap professional liability insurance have similar concerns about costs, coverage and providers. Below are frequently asked questions we addressed:
What is professional liability insurance and do I need it?
Also known as errors and omissions (E&O) insurance, professional liability insurance protects businesses from claims alleging that you made a professional mistake or failed to deliver promised services. You need this coverage if clients could suffer financial losses from your work. A marketing agency faces different exposure than an IT consultant. Most client contracts require this coverage.
Which companies offer the cheapest professional liability insurance?
The Hartford, NEXT Insurance and Progressive Commercial offer the lowest rates, with monthly averages at $75 or lower. The Hartford leads in 71 of 79 industries and 39 of 50 states. These providers consistently outperform competitors like Chubb, which averages $89 monthly.
What factors affect professional liability insurance rates?
Your industry, coverage limits and claims history impact costs most. Industry variation is dramatic: candle makers pay $37 monthly while accountants pay $130. Location also matters, with Arizona rates averaging $66 compared to California's $80. Clean claims history qualifies you for experience rating discounts.
How can I get cheaper rates on professional liability insurance?
Start by getting quotes from multiple providers since you can find substantial savings between insurers. Pay your premium annually to avoid monthly processing fees, and consider higher deductibles if you can afford them. Choose industry-specific insurers who understand your profession's risks, and bundle with other coverage for package discounts.
How much professional liability coverage do I need?
Coverage needs depend on your business size and client exposure. Small consultants working with individual clients need less protection than firms serving large corporations. Match your coverage to actual risk rather than automatically choosing maximum limits. Consider your liability exposure, contract requirements and budget when deciding.
Is professional liability insurance required by law?
Most states don't legally require professional liability insurance, but client contracts often mandate it. Some low-risk businesses may not need coverage, while others must carry specific amounts based on contractual obligations. Many licensing boards require it for health care, legal and financial professionals to ensure adequate financial protection.
How does professional liability insurance differ from general liability coverage?
Professional liability covers claims from your services or advice, protecting you against mistakes in your work. General liability covers physical incidents like bodily injury and property damage at your business location. Most insurers offer discounts when you bundle both types of coverage together.
What other business insurance do I need besides professional liability?
Professional liability is just one piece of comprehensive business protection. Most businesses need multiple types of business coverage to address different risks. Cyber liability insurance protects against data breaches, commercial auto insurance covers business vehicles, and business interruption insurance replaces lost income during operational disruptions.
How We Determine the Cheap Professional Liability Insurance Companies
Small business owners can't afford to overpay for professional liability coverage, but also can't risk inadequate financial protection. We contacted insurers directly to identify which offers genuinely affordable rates without cutting corners.
Our Research Approach
We requested quotes from 10 major insurers using identical business profiles to eliminate guesswork and compare actual rates.
Our Standard Business Profile:
- Two employees (three people total, including the owner)
- $150,000 annual payroll
- $300,000 annual revenue
- Already insured status
- $1 million per occurrence/$1 million aggregate coverage limits
This profile represents most professionals seeking budget-friendly coverage. We focused on insurers offering online quotes and serving smaller businesses, excluding companies that only work with large firms or require excessive minimum premiums.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.