Who Needs Business Consultant Insurance?
Consulting firms that can benefit from our small business insurance coverage include:
- Educational consultants
- Radio consultants
- Economic consultants
What Coverages Do I Need for Business Consultant Insurance?
You can customize your insurance plan to create the best consulting insurance policy for your specific business. Adding additional coverages, such as professional liability insurance, can help protect you from lawsuits that claim you’ve made a mistake. If you’re looking for basic coverage, most small business consultants start with a Business Owner’s Policy (BOP). This combines three important coverages into one, including:
- General liability insurance, which helps protect your business from claims of bodily injury and property damage. This liability coverage can help pay for your legal defense and client’s medical care.
- Commercial property insurance for help covering your business and its physical assets. It helps pay for repairs and replacement of your property from damages caused by fire, theft or other covered losses.
- Business income insurance, which helps replace income you lose if you can’t open for a certain amount of time after a covered loss.
Client Injury
“Our office has a staircase to get to the conference room. On our way to a meeting, a client tripped and fell down, twisting her ankle pretty bad. She ended up needing to get a boot.”
General liability insurance can help cover claims of bodily injury or property damage. It’ll help pay for legal fees and medical expenses.
Lawsuit
“I did all the research I could to give a new client a solid strategy for their business. They claimed the advice I gave them caused them to lose thousands of dollars, and they sued my company.”
Professional liability insurance helps protect your business if you’re sued by a customer claiming a negligent act, error or omission in the professional services you provide.
Car Accident
“We have a few company cars to go back and forth to meetings. I took one to meet a client one day and ended up getting hit by a truck. Thankfully I was okay, but the car was totaled.”
Commercial auto insurance can help if an accident occurs, covering the costs for damages to the car, property or bodily injury.
Lost Computer
“Our entire team flew to a conference overseas. Somehow on the way back, one of our bags was lost at the airport. Unfortunately, the bag had our brand new laptop in it.”
Computers worldwide coverage covers physical loss or damage to computers located anywhere in the world, including while in transit.
Employee Injury
“My receptionist is the best. She’s worked with me for over 20 years and rarely takes a sick day. However, she ended up getting carpal tunnel, and now needs physical therapy.”
Workers’ compensation insurance can help pay for repetitive stress injuries, like carpal tunnel, that result from repeated on-the-job strain.
Employee Harassment
“Last year, I had to fire one of my best employees. It was an easy decision, though, after one of our interns filed a sexual harassment claim against him.”
Employment practices liability (EPL) provides coverage if you’re sued by an employee, patron or vendor alleging discrimination, sexual harassment, wrongful termination or other type of claim relating to your employment practices.
Business Consultant Insurance That Goes Beyond
We’ve worked hard to provide the kind of coverage for consultants that you’ll love. Customize your policy and get the insurance you need.
More Answers to Frequently Asked Business Insurance Questions
1 Business Practical Knowledge, “Lawsuits in Small Business.”
2 Centers for Disease Control and Prevention (CDC), “Motor Vehicle Injury.”
3 National Safety Council (NSC), “Workplace Injuries by the Numbers.”
Additional disclosures below.