Consulting Insurance

Specialized small business insurance for consultants

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Consulting insurance tailored to your business needs

As a professional consultant, you're hired for your insight, experience, and results. Clients depend on your expertise to guide important decisions, from shaping long-term strategy to improving the day-to-day.

Even with careful planning, challenges like miscommunication, project delays, or unmet expectations can happen. That's where consulting insurance comes in. The right policy can give you financial protection when those situations lead to unexpected claims or expenses.

What is consulting insurance?

Consulting insurance is a specialized mix of business insurance coverages that can help protect against common risks tied to your advice, services, and operations. It often includes professional liability insurance for consultants, along with other coverages that can help address property damage, injuries, work interruptions, and more.

Choosing the right policy depends on your level of risk. Progressive Commercial offers insurance you can trust, with licensed experts who can help you explore coverage options. Start a quote or speak with us to find protection that fits your business.

Why consulting business insurance is important

Consulting insurance helps protect your business when your work leads to unexpected outcomes. It's important because it can help cover legal costs and other expenses tied to claims. It also reinforces your credibility as a prepared and polished professional.

Certain protections can help you get jobs, too. In some cases, clients may require proof of insurance before working with you. With a Progressive Commercial policy, you can easily get a certificate of insurance (COI) that summarizes your coverage.

Who needs consulting insurance?

If you work with the public or provide advice and services to customers, consulting insurance may be a good fit for your business. Professionals that can benefit from this coverage include:

Whether you're a sole proprietor or running a large LLC, consulting insurance can offer added peace of mind and help you move forward with confidence as your business grows.

Types of insurance for consulting businesses

Consulting companies often rely on a mix of coverages to manage everyday risks. From professional liability to workers' comp, the options below can help you decide what types of insurance may support your business.

General liability (GL)

Covers third-party injury and property damage

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General liability insurance helps cover injuries and property damage involving third parties, such as clients and visitors. It can also help with claims related to advertising injury and copyright infringement. Learn more about GL insurance costs and how general liability works.

Example: You create a marketing campaign for a client and accidentally use an image without proper permission. The photographer sues you for copyright infringement. Your GL policy can help cover related legal defense costs related to the claim.

Business owners policy (BOP)

Packages liability and property coverages in one policy

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A business owners policy combines liability protection with commercial property coverage. It helps protect your office building, computers, furniture, and other business property. A BOP also includes business interruption coverage, which can replace lost income if you need to pause work due to a covered event. See how you can customize your policy with additional BOP coverages.

Example: A hailstorm damages your office, forcing you to close for a week. Your BOP can help pay for repairs to your property and replace lost income during the downtime.

Professional liability

Protects against claims of mistakes, negligence, and bad advice

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Professional liability insurance for consultants can help with accusations of negligence, mistakes, or bad advice related to your professional services. It's also known as errors and omissions (E&O) insurance. The cost of professional liability coverage can vary based on factors like the type of consulting you do and your client base.

Example: A client claims your strategic business plan led to lost revenue and decides to sue. This coverage can help pay for legal expenses and potential settlements, regardless of whether you made a mistake.

Commercial auto

Covers your business vehicles

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You might need commercial auto insurance if you use a vehicle for business purposes, such as transporting clients or visiting accounts. Learn about commercial auto requirements in your state and see how to get affordable insurance for your vehicles.

Example: While driving a client to lunch, you accidentally hit another vehicle. A commercial auto policy can help cover the other driver's injuries and property damage.

Workers' compensation

Supports employees with on-the-job injuries and illnesses

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Workers' comp insurance helps cover medical bills and lost wages for employees who get hurt or sick because of their job. In many states, it can also protect employers from employee lawsuits related to workplace injuries. Explore workers' comp by state to learn about the laws where you live and find out how workers' comp rates are determined.

Example: An employee gets injured during a client workshop and needs medical attention. Your workers' comp insurance can help pay their medical expenses and a portion of their lost wages while they recover.

Cyber

Coverage for a variety of digital threats

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Cyber insurance protects against data breaches, cyber attacks, and other electronic threats. It can be a good option for consultants who regularly handle customer data and other sensitive information. Cyber coverage can be added to your BOP or purchased as a standalone policy, depending on your needs.

Example: A hacker gains access to your client database. Cyber insurance could cover investigation costs, data recovery, downtime, and certain legal expenses.

Managing additional insureds

Some clients may ask to be added to your policy as an additional insured, especially when professional liability insurance is required by contract. This can extend certain protections to them if a claim involves your work. Progressive Commercial makes it easy to manage additional insureds, with options that may reduce repeated requests across contracts.

What does consulting business insurance cost?

The cost of business insurance depends on your services and overall risk. For example, a strategy consultant may only need a standard E&O policy, while a computer consultant might need specialized technology errors and omissions (tech E&O) coverage due to their scope of work. These differences can affect your insurance premium.

Other factors that may influence your consulting insurance costs include:

Business location
Size of business
Number of employees
Claims history

If you use a vehicle as part of your job, you'll also have to factor in the cost of commercial auto insurance, which considers your accident history, vehicle type, and how many miles you drive.

The easiest way to determine how much you'll pay for consulting insurance is to get a quote customized to your unique business.

Get consulting insurance through Progressive Commercial

We've been working with small businesses like yours for more than 50 years. Whether you need a single E&O policy or a combination of coverages, the specialists at Progressive Commercial can help you find the consulting insurance you're looking for.

Call us today or start an online quote for consulting insurance coverages customized for your business.