Simply Business is pleased to provide tailored insurance coverage from Hiscox, Travelers, and CNA.
Simply Business is pleased to provide tailored insurance coverage from Hiscox, Travelers, and CNA.
Business Consultant Insurance That’s Made Just for You
After years of working in the corporate world and gaining expertise, you’ve become so much of an expert that now you’ve decided to become a consultant — and work for yourself! Whether it’s content creation, mitigating new employee onboarding, or any other business focus, you’ve got it down pat and are ready to share your mastery with other companies.
However, you may not know much about small business insurance policies.
What Insurance Do Business Consultants Need?
Fortunately, you don’t need to — let Simply Business build a yoga teacher insurance policy that’s personalized just for you.
Get Your QuoteProfessional Liability Insurance for Business Consultants
Professional Liability insurance provides coverage in the event a customer alleges negligence from your professional services.
Say, for example, you are a consultant in marketing services and your current project is assisting a wellness company to create their first social media campaign using video. When the campaign launches, the company receives a lot of backlash because there was questionable language used, and therefore their reputation is damaged. You then receive a claim against you for negligence resulting from your services. Professional liability may cover some of the costs for dealing with the claims.
Professional Liability insurance usually covers:
- Negligence or alleged negligence
- Legal defense costs
- Claims involving libel and/or slander
- Copyright infringement
- And more
Professional Liability insurance usually does not cover:
- Intentional negligence
- Bodily injury
- Property damage
- False advertising
- Patents and trade secrets
- And more
General Liability Insurance for Business Consultants
General Liability insurance — also known as Commercial General Liability (CGL) or General Liability — protects your business from third-party claims of bodily injury or damage to someone else’s property.
If you have an office space and you have a client visiting you, there is risk of an accidental injury. Let’s say the client trips over a side table in your lobby area, which requires a visit to the hospital. General liability insurance may cover some of the medical bills.
General Liability usually covers:
- Bodily injury
- Third-party property damage
- Personal and advertising injury
- Medical expenses
- Defense costs
- Supplemental payments
General Liability insurance usually does not cover:
- Damage to your own property
- Professional services
- Workers compensation or injury to your own employees
- Known claims or potential claims
Learn more about General Liability Insurance.
Workers Compensation Insurance for Business Consultants
Do you have full-time employees or part-time help? If that’s the case, you may need workers compensation insurance. If someone who works for you gets hurt on the job, this coverage provides help with medical bills, lost wages, and any legal costs relating to the injury.
Most states require any business with employees to have workers compensation insurance, so make sure you add it to your policy!
Learn more about workers compensation insurance.
How Much Does Business Consultant Insurance Cost?
Not sure how much you might pay for coverage for being a business consultant? While there’s no one answer for how much your policy will cost, your final premium will usually be determined by:
- The number of employees you have (including part-time and consultants)
- Your location
- Payroll
- Revenue
- And more