I'm preparing to sign an agreement to work as a freelance contractor using a corp2corp arrangement with my LLC. I know nothing is hard and fast until I get actual quotes. Unfortunately, actual quote can take a week or more to get back. Can anyone give me any insight from their experience on what annual expectations I can expect (e.g. $5k, $20k, etc.) to pay for insurance...

Commercial General Liability Insurance:

  • Each Occurrence Limit: $1,000,000
  • General Aggregate Limit: $2,000,000
  • Products-Completed Operations Limit: $1,000,000
  • Personal and Advertising injury Limit $1,000,000.

Workers' Compensation Insurance: as required by state.

Employers Liability Insurance: $1,000,000 per occurrence.

Excess/Umbrella Liability Insurance: $3,000,000 per occurrence.

Errors and Omissions Liability Insurance and/or Professional Liability Insurance: $2,000,000 per occurrence.

  • I pay about $500/yr for general liability insurance for my new LLC (in NJ).
    – lesscode
    Nov 11 '16 at 15:22

For my small business - doing software development - I forked out about $1000/yr for just general liability and professional liability. Your mileage may vary.

The quote shouldn't take a week, though. Something seems "off" to me.

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