Several factors contribute to consulting business insurance costs, including business size, risks, and equipment value. Cost estimates are sourced from policies purchased by Insureon customers.
General liability insurance costs for consultants
Consulting businesses pay a median premium of less than $30 per month, or $350 per year, for general liability insurance. This policy provides protection for third-party bodily injuries and property damage, along with advertising injuries.
Insureon’s licensed agents typically recommend a business owner’s policy over a standalone general liability policy. A BOP combines general liability insurance with commercial property insurance to protect your consulting office, and costs less than purchasing each policy separately.
Your industry risks affect general liability costs
Among consulting businesses that purchase general liability insurance with Insureon, 28% pay less than $300 per year and 61% pay between $300 and $600 per year. High-risk businesses tend to pay more for general liability insurance.

Common general liability policy limits for consultants
Policy limits determine how much your insurer will pay on covered claims. A per-occurrence limit is the maximum your insurer will pay for a single incident, while an aggregate limit is the maximum your insurer will pay on any claims during your policy period, typically one year. Higher limits cost more – and provide better coverage.
Most consultants (90%) choose general liability policies with a $1 million per-occurrence limit and a $2 million aggregate limit. As your small business grows, you may need to expand your policy limits.
Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.
Professional liability insurance costs for consultants
Consultants pay a median premium of less than $55 per month, or $650 per year, for professional liability insurance. Also known as errors and omissions insurance, this policy offers critical coverage for consultants, including legal fees related to professional mistakes and accusations of negligence.
Your level of risk drives the cost of professional liability
Among consulting businesses that purchase professional liability insurance with Insureon, 26% pay less than $600 per year and 47% pay between $600 and $1,200 per year. Consultants who have been sued in the past or who own a large company may pay more for this policy.

Professional liability policy limits for consulting businesses
Most consultants (56%) choose professional liability policies with a $1 million per-occurrence limit and a $1 million aggregate limit.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.
Workers’ compensation costs for consultants
To meet your state’s requirements and avoid penalties, consulting businesses with employees typically must purchase workers’ compensation insurance. This policy helps cover medical bills and partial lost wages when an employee suffers a work-related injury or illness. With a median premium of about $40 per month, or $500 per year for consultants, policy cost is determined by your number of employees and their occupational risk, among other factors.
Workers' comp costs vary depending on your employees
Among consulting businesses that purchase workers’ compensation insurance with Insureon, 34% pay less than $400 per year and 47% pay between $400 and $800 per year. The cost depends on the number of workers, their level of occupational risk, and other factors.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.
Business owner’s policy costs for consultants
Consultants pay a median premium of about $40 per month, or $500 per year, for a business owner’s policy. This policy combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately.
A BOP protects against third-party injuries and property damage, along with damage to your own business property. Because of its increased coverage and affordability, it’s the policy most often recommended by Insureon’s licensed agents.
Business property value drives the cost of a BOP
Among consulting businesses that purchase a business owner’s policy with Insureon, 20% pay less than $400 per year and 65% pay between $400 and $800 per year. The cost depends primarily on the value of your business property, including your building if you own it.

Which business owner’s policy limits do consultants choose?
Most consultants (87%) choose a business owner’s policy with a $1 million per-occurrence limit and a $2 million aggregate limit.
Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.
Explore insurance costs for your business
Learn more about insurance costs for your profession:
If you're an IT consultant, you may need different insurance policies than other types of consultants. Business insurance costs for IT consultants are different, too.
Compare quotes from trusted carriers with Insureon
Insureon’s licensed insurance agents work with top-rated U.S. carriers to find affordable coverage that fits your consulting business. Apply today to compare multiple quotes with one free online application. Work with an account manager specializing in the unique risks of management consultants, marketing consultants, and HR consultants.