How much does insurance cost for research consultants?

Research consultants pay a median premium of less than $30 per month, or $350 annually, for general liability insurance. This policy offers protection against third-party injuries, third-party property damage, and advertising injuries.

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

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

The median premium is $70 per month, or $840 annually, for professional liability insurance for research consultants. Also known as errors and omissions insurance (E&O), this policy covers legal costs if your firm is taken to court for substandard work or mistakes.

Median cost per year: $840
Policy limits: $1 million per occurrence
Policy deductible: $1,000

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.

The median cost of workers’ compensation insurance for a research consultancy firm is less than $50 per month, or $575 per year. The cost of a policy varies significantly depending on your state, number of employees, and industry risk.

Workers’ compensation insurance is required in almost every state for research consultancy businesses that have employees. This coverage helps pay medical bills and lost wages for employees who are injured while working. Most policies include employer’s liability insurance, which protects business owners against lawsuits related to workplace injuries.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.

The median cost of a business owner’s policy is about $40 per month, or $500 per year, for research consultants. Pricing is determined by your company's risks and the value of its property and equipment.

A business owner’s policy bundles general liability insurance with commercial property insurance, typically at a discounted rate. This policy may include business interruption insurance, which can cover income lost due to an unexpected temporary closure of your business.

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

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.

The median cost of a fidelity bond for small businesses is $88 per month or $1,055 per year. The cost depends on how much coverage you purchase.

Fidelity bonds compensate your clients if an employee at your research consulting firm steals from them. Clients might require you to purchase a bond before they will work with your company.

Median cost per year: $1,055
Policy limit: $1 million
Policy deductible: $10,000

To learn more about fidelity bond costs, visit Insureon's fidelity bonds cost analysis page.

Small businesses pay a median premium of $140 per month or $1,675 per year for cyber liability insurance. The cost depends on how much sensitive data your consulting firm handles.

Median cost per year: $1,675
Policy limits: $1 million per occurrence
Policy deductible: $1,000

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's cyber liability insurance cost analysis page.