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Business Insurance for Management Consultants
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Save money by comparing insurance quotes for management consultants
If your recommendations cause a decline in the performance of a client’s organization, it could be disastrous for your business. Management consulting insurance protects your consultancy from lawsuits and other risks.
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Insureon helps management consultants compare insurance quotes from top U.S. providers online. Get several quotes with one application.
What types of insurance do management consultants need?
These policies provide coverage for common risks in management consulting.
General liability insurance
This policy covers common management consultant risks, such as client injuries, property damage, and slander. Bundle with property insurance for savings in a BOP.
BEST FOR
- Slip-and-fall accidents
- Damaged customer property
- Libel or slander lawsuits
Professional liability insurance
This policy, also called errors and omissions insurance, can help cover legal expenses if a management consultant is sued over an error or poor results.
BEST FOR
- Management consulting errors
- Accusations of negligence
- Advice that leads to financial loss
Workers’ compensation insurance
Workers’ compensation insurance is required in almost every state for management consultant businesses that have employees. It can cover medical bills for work injuries.
BEST FOR
- Employee medical expenses
- Missed wages
- Legal costs
Business owner’s policy
A business owner’s policy, or BOP, combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately.
BEST FOR
- Customer injuries
- Damaged business property
- Business interruption incidents
Looking for different coverage? See more policies.
How much does business insurance cost for management consultants?
Several factors will have an impact on insurance costs, including:
- Management consulting services offered
- Business equipment and property
- Revenue
- Location
- Number of employees
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Why do management consultants need insurance?
As a management consultant, your task is to improve a company's performance and efficiency. If a client blames your business for a decline, you could face a lawsuit. Management consultant insurance can cover lawsuits from dissatisfied clients, even if you're not at fault. It can also cover medical bills after an injury, the cost of replacing damaged or stolen business equipment, and other unforeseen expenses.