Why do agricultural consultants need business insurance?
Your data collection and analysis help farmers and landowners maximize yield and protect resources, but with your advice comes liability. Agricultural consultant insurance can help pay for data breaches, injuries at your office or in the field, and legal costs from a crop failure or other loss.
Find the right coverage
Insureon helps agricultural consultants find insurance quotes that match their unique risks.
Get free expert advice and peace of mind knowing you have the right property and liability coverage for your small business.
What types of insurance do agricultural consultants need?
These insurance policies cover common risks in agribusiness consulting.
Professional liability insurance
This policy helps cover legal expenses from professional errors and oversights, such as advice from a crop consultant that leads to a loss. It's also called errors and omissions insurance (E&O).
- Accusations of negligence
- Agricultural advice that caused a loss
- Work mistakes or oversights
General liability insurance
A general liability policy covers basic third-party risks, such as a farm consultant accidentally damaging a fence or other client property. It's often required for a commercial lease.
- Slip-and-fall accidents
- Customer property damage
- Libel, slander, and copyright lawsuits
Business owner’s policy
A business owner’s policy, or BOP, combines general liability coverage with commercial property insurance at a lower rate than if the policies were purchased separately.
- Customer bodily injuries
- Damage to customer property
- Business property damage and theft
Workers’ compensation insurance
Most states require workers’ comp for agricultural consulting businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Lawsuits over employee injuries
Cyber insurance
This policy helps agricultural consultants survive data breaches and cyberattacks. It's strongly recommended for any business that handles credit card numbers or other sensitive data.
- Data breach notification costs
- Fraud monitoring services
- Data breach investigations
Commercial auto insurance
Commercial auto insurance covers costs if an agricultural consultant's vehicle is involved in an accident. Most states require this coverage for vehicles owned by a business.
- Property damage caused by your vehicle
- Auto accident injuries
- Vehicle theft and vandalism
How much does business insurance cost for consultants?
A small business with a few consultants will pay less for insurance than a larger company.
Factors that affect consulting business premiums during underwriting include:
- Consulting services offered
- Business property and equipment
- Business location and annual income
- Types of insurance purchased
- Policy limits and deductibles
- Claims history
How do I get agricultural consultant business insurance?
It's easy to get agricultural consultant business insurance and fidelity bonds if you have your company information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application.
- Compare insurance quotes and choose policies.
- Pay for your policy and download a certificate.
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance products for your agricultural consulting firm, whether you work independently or hire employees.
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Common questions about agricultural consulting insurance
Review answers to frequently asked questions (FAQs) about agricultural contractor insurance.
Do I need business insurance if I'm self-employed?
While self-employed agriculture consultants aren't usually required by law to carry insurance, it can help you fulfill the terms of a contract and protect your business from financial risks and liabilities.
In order to start up a consulting practice of work within certain facilities, some states may require you to have professional liability coverage, sometimes called errors and omissions coverage or professional indemnity insurance for agricultural professionals. You should regularly check your state and local governments for all of their requirements.
It's also important to note that personal auto insurance won't offer protection for work vehicles or associated accidents, such as a car collision involving a business-owned vehicle. This means you're responsible for paying medical bills or state penalties out of pocket for not having the right insurance coverage.
Commercial auto insurance would safeguard your company-owned vehicle, and a hired and non-owned auto (HNOA) insurance policy would offer protection if you drive a personal vehicle for business purposes.
Even as a sole proprietor or the small business owner of a limited liability company (LLC) with no employees, workers' compensation insurance can offer financial protection if you’re unable to work due to an on-the-job injury or illness, as well as cover your medical bills since health insurance policies don't cover work-related incidents.
Am I required to get a consulting certification or license for my agricultural consulting company?
Most states require agricultural consultants to carry a business license in order to legally operate, typically obtained through their city or county government. Depending on the state you operate in, your consulting services, and the clients you work with, you may also need to obtain a special permit or industry-specific certification.
Maintaining a business license offers many benefits, including:
- Tax compliance
- Credibility
- Financial benefits and credit
Additionally, continuing your agricultural consultant education is a great way to showcase your expertise to prospective clients, and help set you apart from the competition.
For your agriculture contracting business, you should consider earning a professional certification to showcase your expertise and stand out from the competition. The American Society of Farm Managers and Rural Appraisers (ASFMRA) offers four different professional designations for agricultural consultants – each focusing on a different specialty.
These certificates include Accredited Farm Manager, Accredited Rural Appraiser, Real Property Review Appraisers, and Accredited Agricultural Consultants.
What other insurance policies should agricultural consultants carry?
There are several consulting business insurance policies you should consider as part of your risk management plan against common risks and the resulting financial losses, including:
- Hired and non-owned auto (HNOA) insurance offers liability protection for sole proprietors or employees who drive their own vehicle for work, or a leased or rented vehicle.
- Business interruption insurance covers financial losses if your business is forced to close temporarily due to a fire or extreme weather. It can often be added to a business owner's policy (BOP).
- Commercial umbrella insurance helps handle legal expenses when the coverage limit is reached on another liability policy, such as general liability or commercial auto insurance. Sole proprietors may need this coverage to meet client requirements for higher liability limits.
- Fidelity bonds protect your business should an employee commit fraud or theft under your business name. A fidelity bond would cover the legal costs and the reimbursement for your customer. However, your business would have to repay the bond company for the cost of the claim.
- Professional indemnity insurance, also called professional liability or errors and omissions insurance, protects you in the event a client files a lawsuit against your consulting business for an error, mistake, or professional negligence.
- Technology errors and omissions insurance, sometimes called tech E&O or tech professional liability insurance, is a bundle of E&O with cyber liability insurance. This policy can help you with legal fees and court costs if a dissatisfied client sues you over your work performance or a third-party cyber incident. It covers the cost of customer notification, credit monitoring, legal fees, and fines.
- Product liability insurance helps cover your legal expenses if someone claims a product you sold, made, or distributed caused an injury or property damage. Any business in the supply chain, from manufacturers to wholesalers to restaurants, could be blamed if a product causes harm, and there are few limitations on who can file a product liability lawsuit.
How can I save money on agricultural consultant insurance?
The insurance industry has a wide range of pricing for the same policies, which is why you should shop around. You can start by reviewing free business insurance quotes from leading insurance companies with Insureon.
Our licensed insurance agents can help make sure you get the right, most affordable coverage for your agricultural consulting firm's specific needs. Most small businesses can get insured and download a certificate of insurance within hours of applying for quotes.