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How much does business insurance cost for HR consultants?

A variety of factors contribute to HR consultant insurance cost, including firm size, number of clients, and revenue. Cost estimates are sourced from policies purchased by Insureon customers.

General liability insurance icon

General liability costs for HR consultants

Human resources consultants pay a median premium of about $30 per month, or $350 annually, for general liability insurance. This policy offers coverage for third-party property damage and injuries.

Small HR consulting businesses can typically find savings by bundling general liability insurance with commercial property insurance in a business owner’s policy. A BOP protects your business property along with defending against common business risks.

Median cost per year: $350
Policy limits: $1 million per occurrence
Policy deductible: $500

Learn more about general liability insurance.

Business owner’s policy icon

Business owner’s policy costs for HR consultants

The median cost of a business owner’s policy is about $40 per month, or $500 annually, for HR consultants.

A business owner’s policy bundles general liability insurance with property insurance, usually at a discounted rate. Pricing is determined by your consulting firm’s location, operations, and the value of your business property. This policy may include business interruption insurance, which covers income lost at your business due to an unexpected closure.

Median cost per year: $500
Policy limit: $1 million per occurrence
Policy deductible: $500

Learn more about business owner’s policy.

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Professional liability insurance icon

Professional liability insurance costs for HR consultants

HR consultants pay a median premium of less than $45 per month, or $520 annually, for professional liability insurance. Also called errors and omissions insurance, this policy provides coverage when an HR consultant is sued over a mistake or poor advice.

Median cost per year: $520
Policy limits: $1 million per occurrence
Policy deductible: $1,000

Learn more about professional liability insurance.

Workers’ compensation insurance icon

Workers’ comp costs for HR consultants

The median cost of workers’ compensation insurance for an HR consultant is about $35 per month, or $415 annually. The cost of a policy varies significantly depending on the state and your business operations.

Workers’ compensation insurance is required in almost every state for human resources consulting businesses that have employees. This coverage helps pay medical fees and lost wages for employees who are injured on the job. Most policies include employer’s liability insurance, which protects business owners against lawsuits related to work injuries.

Learn more about workers’ compensation insurance.

Get free quotes and specialized advice with Insureon

Insureon’s HR consultant insurance agents work with leading insurers to find the best coverage for your business. Apply today to compare multiple quotes with one free online application. If you decide to purchase a policy, you’ll work with an account manager who specializes in HR consulting business risks.

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