About Business Insurance Calculator

Calculate business insurance premiums and coverage recommendations. Part of the DevTools Surf developer suite. Browse more tools in the Business & Corporate collection.

Use Cases

• Estimate insurance costs before launching a new business
• Compare BOP bundled vs individual policy costs for a small business
• Budget for insurance as part of a business plan
• Understand which coverages are required vs recommended for your industry

Tips

• Enter your industry SIC/NAICS code first — it drives the base rate table more than any other single factor
• Input gross revenue and payroll separately; general liability is often rated on revenue while workers' comp is rated on payroll
• The BOP (Business Owner's Policy) bundled estimate is usually cheaper than buying general liability and property separately — compare both outputs

Fun Facts

• The concept of business insurance dates to the Lloyd's of London coffee house in the 1680s, where merchants met to insure ships and cargo against loss at sea — the first organized commercial insurance market.
• Commercial general liability (CGL) insurance is the most commonly held business policy in the US, covering over 10 million businesses. It pays for third-party bodily injury and property damage claims.
• The US commercial insurance market exceeded USD 380 billion in premiums in 2022, making it the largest commercial insurance market in the world — larger than the next three (UK, Germany, France) combined.

FAQ

What is a Business Owner's Policy (BOP)?

A BOP bundles general liability and commercial property insurance into a single policy, typically at a discount over buying separately. It is designed for small to medium businesses and often includes business interruption coverage.

What business insurance is legally required?

Workers' compensation is required in almost all US states if you have employees. Commercial auto is required if you use vehicles for business. Other coverages (general liability, professional liability) are not legally required but often contractually required by clients or landlords.

Does the estimate account for my specific state's regulations?

The calculator applies national average rate tables. State-specific workers' comp rates, state insurance fund requirements, and mandatory coverage levels are not incorporated — consult a local broker for accurate quotes.