While general liability insurance for small businesses can start as low as $30 to $50 per month, sandblasting operations often face higher premiums due to the specialized risks involved.
General Liability Insurance
For small sandblasting contractors, a standard general liability policy with a $1 million per occurrence and $2 million aggregate limit typically ranges from $67 to $89 per month.
General Liability Insurance
This coverage protects against third-party claims of bodily injury or property damage arising from your operations.
Factors Influencing Insurance Costs
Several elements can impact your sandblasting insurance premiums:
- Business Size and Revenue: Larger operations with higher revenues may face increased premiums.
- Location: Insurance costs can vary by state. For instance, premiums in larger states like Texas are generally about 20%-30% higher than national averages, while in smaller states like New Mexico, they can be about 20%-30% lower.
- Claims History: A history of claims can lead to higher premiums.
- Specific Services Offered: Offering additional services like dustless media blasting or pressure washing can influence costs.
Additional Coverage to Consider
Beyond general liability, other insurance policies may be essential:
- Workers’ Compensation Insurance: Required in most states, this covers medical expenses and lost wages for employees injured on the job.
- Commercial Auto Insurance: If you use vehicles for business purposes, this policy covers accidents and damages related to business vehicles.
- Equipment Breakdown Insurance: Covers repair or replacement costs for essential sandblasting equipment in case of breakdowns.
Conclusion
While basic liability insurance might start at $30 to $50 per month for general small businesses, sandblasting contractors should anticipate higher premiums due to the specialized nature of their work. It’s advisable to consult with an insurance professional to obtain coverage tailored to your specific business needs.
