Consultant insurance

Insurance for independent consultants

Problem-solving is your strong suit. But if something goes wrong, you don’t need analysis to project what a legal claim could cost you.

Luckily there’s a strategic solution: liability insurance for consultants. It’ll keep your reputation safe and protect your business from the financial fall-out.

What insurance do you need as a consultant?

• Why do consultants need general liability insurance?

  If you visit with clients, or they come to you, you need general liability insurance for consultants.

  Why? Because all it takes is your client being hospitalized after falling down your stairs. Or you tripping over a laptop cord, toppling a priceless sculpture on your client’s desk.

  Next thing you know you’re facing a claim for medical bills or replacement costs. And if the case goes to court, you can add legal fees and possibly damages too.

  If a claim’s made against you for damage to a person, or property, consultant general liability insurance can cover the costs. Including medical bills, repairs or replacement expenses, legal fees and compensation if it turns out you’re at fault.

• What does general liability insurance for consultants cover?

  So long as the claim’s filed in the United States, its territories, or Canada, general liability insurance covers claims for:

  • Third party bodily injury – a slip, trip, or fall can cost thousands in medical bills, even for injuries that seem to be minor.
  • Third party property damage – repairs, replacement, the costs can be huge. Your policy covers damage caused by you, and your full-time, or temporary, staff.
  • Personal injury – He said. She said. Whether anyone said anything at all, claims of slander or libel can seriously damage your reputation. And the defense costs can seriously dent your bank balance.
  • Advertising injury – whether it was your idea, or theirs, arguing it out in court will be expensive.

  When a claim is filed against your business, there are often hidden costs involved. Your general liability policy takes care of these too. Including up to $250 a day for loss of earnings.

• How much does general liability insurance cost for a consultant?

  The cost of your consultant general liability policy will be affected by things like the size of your business and its location, as well as the limits you select.

  Whatever the cost, there’s a package to suit your particular business needs. And payment options, too, so you can spread the cost to fit your budget.

  As for what level of cover you want, you'll need to decide what's best for you. But it's always best to over-estimate. Lawyers' fees, compensation and court costs can go through the roof. So, imagine the worst-case scenario. Then pick a figure you can realistically afford.

• Why do consultants need professional liability insurance?

  Because being a consultant makes you a professional. Which means you’re at risk of professional negligence suits. Whether you’re at fault, or not.

  And because you’re an independent consultant, you don’t have the big bucks of a corporate behind you. Which means the cost of defending your reputation is down to you. Unless you’ve got the right coverage.

  Professional liability insurance for consultants (also known as errors and omissions, or E&O) protects you from negligence suits. Even if the claim is groundless.

  If a client claims you made a mistake and it’s cost them money, you’ll get an attorney to defend you. Your legal fees will be paid. And compensation, too, if you’re liable.

• What does professional liability insurance for consultants cover?

  • Errors and omissions – even if you’re not at fault
  • Claims made against you – including work you’ve done in the past
  • Claims made worldwide – so long as they’re filed in the US, one of its territories, or Canada
  • Your defense costs – including hiring you an attorney and compensation, if you’re liable.

• How much does professional liability insurance cost for a consultant?

  The cost of professional liability insurance (or errors and omissions) for consultants will vary from business to business, depending on:

  • The size of your business
  • Where your business is based
  • Your annual business income
  • The amount of coverage you need
  • The deductible you choose.

  But there are payment options available. So you can spread the cost of your policy in installments if it suits your budget better.

• Why should I buy my insurance from you?

  Good question. Glad you asked.

  The simple answer is: because we know what we’re doing. Small business insurance is all we do. And that means we know what you need, even if you don’t.

  Buying insurance can be complicated. You’ve got better things to do with your time than spend hours trying to find a policy to fit your exact needs. Like run your business.

  So let us do the work for you. We’ll find you the right coverage. Explain why it works for you. And sort it fast, with the minimum of fuss.

  But don’t take our word for it. Check out what our customers say about us. After all it’s their opinion that really counts.

What other kinds of insurance do consultants need?