Liability insurance covers these shocking hidden benefits

The Financial Aspect of Liability Insurance

While liability insurance is invaluable, understanding its cost is crucial. Premiums vary widely based on factors such as coverage limits, the type of liability insurance, and your risk profile. For instance, personal liability insurance as part of a homeowner's policy can cost as little as $100 annually for $100,000 in coverage, whereas business liability insurance may start at $500 annually, depending on the industry and coverage level⁴.