How much does insurance cost for draftsmen?

The median cost of professional liability insurance is about $100 per month, or $1,230 annually, for draftsmen. This policy, also known as errors and omissions insurance, protects businesses against lawsuits brought by clients claiming that work was inaccurate, late, or never delivered.

Median cost per year: $1,230
Policy limit: $1 million per occurrence
Policy deductible: $2,500

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.

Draftsmen pay a median premium of less than $30 per month, or $350 annually, for general liability insurance. This policy protects against third-party injuries, damaged or stolen client property, and advertising injuries.

Insureon’s licensed agents typically recommend a business owner’s policy for more complete coverage. A BOP combines general liability insurance with commercial property insurance. It protects your own business property along with guarding against the most common business risks.

Median cost per year: $350
Policy limit: $1 million per occurrence
Policy deductible: $500

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

Drafters typically pay less than $42 per month for a business owner’s policy, or a median annual premium of $500.

A business owner’s policy bundles general liability insurance with property insurance, usually at a discounted rate. Pricing is determined by the location of your business, its operations, and the value of your business property. A BOP may include business interruption insurance, which covers lost income from an unexpected closure.

Median cost per year: $500
Policy limit: $1 million per occurrence
Policy deductible: $500

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.

The median cost of workers’ compensation insurance is about $40 per month, or $480 annually, for draftsmen. The cost varies significantly depending on the state and business operations. Include accurate payroll figures in your quote application to avoid the need to adjust premium rates if your payroll amount changes.

Workers’ compensation insurance is required in almost every state for drafting businesses that have employees. This coverage helps pay medical fees and lost wages for employees who are injured on the job. Most policies include employer’s liability insurance, which protects business owners against lawsuits related to workplace injuries.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.