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How much does insurance cost for management consultants?

Several factors contribute to management consultant insurance costs, including your firm’s size, risks, and previous claims. Cost estimates are sourced from policies purchased by Insureon customers.

General liability insurance icon

General liability insurance costs for management consultants

Management consultants pay a median premium of less than $30 per month, or $350 per year, for general liability insurance. This policy protects against client injuries, client property damage, and advertising injuries.

Insureon’s licensed agents usually recommend a business owner’s policy for more complete coverage. A BOP protects a management consultant's business property, in addition to covering common 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 management consultants

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

A business owner’s policy bundles general liability insurance with property insurance, usually at a discounted rate. Pricing is determined by your 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.

Compare management consulting insurance quotes from top U.S. carriers
Professional liability insurance icon

Professional liability insurance costs for management consultants

Management consultants pay a median premium of less than $55 per month, or $650 annually, for professional liability insurance. Also known as errors and omissions insurance, this policy covers legal costs if your management consulting business is taken to court for substandard work.

Median cost per year: $650
Policy limits: $1 million per occurrence
Policy deductible: $1,000

Learn more about professional liability insurance.

Workers’ compensation insurance icon

Workers’ comp insurance costs for management consultants

The median cost of workers’ compensation insurance for a management consultant is about $40 per month, or $490 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 management 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 workplace injuries.

Learn more about workers’ compensation insurance.

Get free quotes and specialized advice with Insureon

Insureon’s management consulting insurance agents work with leading U.S. providers to find policies that match 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 marketing consultant business risks.

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