Liability Insurance Policy Cost. Insurance providers estimate general liability insurance costs as follows: Liability insurance, in essence, is an insurance policy component that covers the costs of the injuries suffered by the other party if you cause an accident.
($400,000) recoverable from personal assets. Olsen says a $1 million umbrella policy typically costs about $300 a year, and collins says it. Liability insurance, in essence, is an insurance policy component that covers the costs of the injuries suffered by the other party if you cause an accident.