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Ask Us about Tech Insurance!

You've got questions - we've got answers!

Since launching TechInsurance in 1997, we've received thousands of questions about insurance from the owners of technology startups and small tech businesses. As technology our customers use has evolved over the years, so have their questions, but many of the issues are just as relevant today as they were way back then.

What Is the Cost of Umbrella Insurance for a Small Business?

Umbrella Insurance (also called Excess Liability or Umbrella Liability Insurance) offers small businesses additional protection beyond what their existing business liability insurance policies offer. The cost of Umbrella Insurance depends on a number of factors, including the size of your business, the kind of work you do, the state(s) in which you do business, the number of employees you have, and more.

The sample quotes on this page are meant to give you a ballpark idea of how much Umbrella Insurance costs. These quotes are not meant as recommendations. For a comprehensive analysis of the cost of Umbrella Insurance across all industries, visit Insureon.

What Does Umbrella Insurance Cover?

Umbrella Insurance works by increasing the coverage limit on existing liability insurance policies. In many cases, purchasing a single Umbrella Insurance policy is more cost-effective than extending the limits on multiple insurance policies separately.

One Umbrella Insurance policy can extend the limit on a General Liability policy, an Auto Liability policy, and an Employers' Practices Liability Insurance policy. Umbrella Insurance, however, CANNOT increase the limit on Errors & Omissions (Professional Liability) insurance.

Sample Umbrella Insurance Quote: Small Consulting Company

For this example quote, we consider a "small" consulting company to be one that has:

  • 0 – 2 full-time staff members
  • 0 – 10 programmers
  • $250,000 – $1 million of annual revenue

Sample annual premium: $450

Deductible: $10,000

Coverage limit (per occurrence): $1 million

Coverage limit (annual aggregate): $1 million

This example only includes Umbrella Insurance for an existing General Liability policy.

Sample Umbrella Insurance Quote: Independent Contractor / Web Designer

For this example quote, we consider an independent contractor or web designer to be a sole proprietor who earns no more than $150,000 per year. Keep in mind, of course, that actual quote amounts will depend on more than annual revenue.

Sample annual premium: $450

Deductible: $10,000

Coverage limit (per occurrence): $1 million

Coverage limit (annual aggregate): $1 million

This example only includes Umbrella Insurance coverage for a General Liability Insurance policy.

Sample Umbrella Insurance Quote: Large Consulting Company

For this example quote, a "large" consulting company is one that has:

  • 6 – 10 staff members.
  • 10-50 programmers
  • $3 million – $10 million in annual revenue.

Actual Umbrella Insurance quotes will vary depending on a number of factors specific to an individual business.

Sample annual premium: $950

Deductible: $10,000

Coverage limit (per occurrence): $1 million

Coverage limit (aggregate): $1 million

Receive Free Umbrella Insurance Quotes for Your Business

When you're ready to find out what an Umbrella Insurance policy would cost for your business, complete our online application. The process takes about 15 minutes, and when you finish, one of our agents will send free Umbrella Insurance policy quotes to your email inbox. Once you have your quotes, you can choose a policy that meets your coverage and budget needs or discuss your coverage options with your agent.

70% of businesses raise prices or cut hiring when sued