How does General Liability insurance protect consultants?
General liability insurance helps to protect your business from common risks you may face as a consultant, like damage to someone’s property or an injury to someone other than an employee. Since consulting work often involves interacting closely with clients and spending time at their work locations, it’s easy to see how this policy could help protect you in case of an accident.
This is the most common type of insurance for small businesses and self-employed workers. Many types of consulting professionals, including business consultants and education consultants, get general liability insurance to protect their business.
What does General Liability cover for consultants?
General liability insurance helps cover workplace accidents that result in property damage or injury to someone other than an employee. If these types of accidents occur, you could be held responsible for any financial damages.
If you accidentally spill coffee on a client’s laptop, for example, your consultant liability insurance would help cover the cost of repairing or replacing it.
A consultant general liability insurance policy can help cover a variety of costs, such as:
- Injuries to people who are not employees
- Damage to someone else’s property
- Accusations of libel and slander
Learn more about what general liability insurance covers.
Why do consultants need General Liability insurance?
Consultants work closely with their clients and often spend time at their workplaces in order to better understand their needs. However, this comes with a risk of accidents involving other people and their property.
If an accident happens, your consultant’s liability insurance can help cover related expenses like property repairs or medical bills. You won’t have to pay for everything out of pocket and try to recover from unforeseen costs, which results in more financial stability for your consulting business.
You may need consulting liability insurance in order to secure jobs. Some clients require that any consultants they work with have general liability coverage.
What are some common risks faced by consultants?
Consultants insurance offers you protection from a wide range of unexpected events and accidents. Here are some of the common risks consultants could be exposed to at work:
Damage to someone’s property
During a visit to a client’s warehouse, you accidentally knock over a shelving unit, which damages some of their inventory. General liability insurance can help pay for the costs to repair the shelving and replace the inventory.
Accidents that hurt someone
A client trips over an extension cord in your office and sprains their wrist. Your consultant general liability insurance can help cover their medical expenses up to your policy limit.
General liability coverage excludes accidents that hurt yourself or an employee, but you can get workers’ compensation insurance to cover those types of incidents.
Court and legal fees
A client claims that your inaccurate revenue projections led to significant losses, so they file a lawsuit against you. If you have general liability insurance for consultants, you’ll get help paying for the legal fees.
Libel, slander and defamation
You mention a negative experience with a past client on social media, and they sue you for defamation. General liability insurance can help cover the legal costs.
What is the cost of General Liability insurance for consultants?
NEXT offers customized consultant liability insurance so you won’t have to overpay for business insurance coverage.
At NEXT, 44% of our customers pay $66 to $85 a month for general liability insurance. Because the risks of working as a business consultant are relatively low, the median consultant liability insurance cost is just $65 per month.**
Some of the factors which affect general liability insurance costs in this line of work include:
- How many employees you have
- How long you’ve been in business
- The state where you work
- Your claims history
- How high you set your limit
NEXT offers tailored business insurance for consultants
NEXT offers affordable insurance for consulting businesses and self-employed consultants. Plus, it’s easy to do everything right from your computer or mobile device.
Simply go online to apply, compare insurance options, purchase coverage and get a certificate of insurance in just a few minutes.
Get an instant quote online today.
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