Consultant Insurance

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Any professional who offers advice or consultation services should have consultant insurance. Whether you are an IT consultant, independent or freelance, you could have legal challenges. You could face accusations of negligence or be found liable for damages. When this happens, a standard business policy may not be enough. You need to protect yourself with consultant liability insurance.

At ThinkInsure, we offer insurance for consultants in all industries. Our advisors will compare quotes from the top insurers in Canada to get you the best rate and policy.

Top 3 takeaways about consultant insurance

Consultant insurance is ideal for anyone working in a professional consultant role.
Consultant insurance protects you against the legal risks of offering advice.
You will have coverage against claims of negligence, defamation, bad advice, and administrative mistakes.

What is consultant insurance?

Consultant insurance is specifically for professionals offering consulting services. Insurance for consultants protects you against the legal risks of providing advice. Some insurers may refer to this insurance as consultant liability insurance or professional consultant insurance.

Mistakes happen. Consultants make errors in judgment from time to time. Most are minor, but others can cause a loss or damage to a client. This coverage protects you against claims of mistakes, negligence, third-party damages, and more.

Who needs consultant insurance?

This insurance is for any professional consultant who advises other businesses and clients. This includes companies of all sizes from many different industries.

Independent consultants
Business consultants
Management consultants
HR consultants
Technology, software, and IT consultants
Marketing, web design, and sales consultants
Education consultants
Engineering consultants
Executive consultants
Accountants and bookkeepers
Financial consultants
Realtors and property managers
Recruiters and staffing agencies
Lawyers and paralegals
Home inspectors
Project managers
Wedding planners

What does consultant insurance cover?

There are various inherent threats to being a consultant. The most common are defamation, slander, mistakes, administrative and paperwork issues, damaging advice, and negligence.

Consultants may require several different types of protection. Specific requirements depend on your business type and operations. The type of services you offer and how you offer them to your customers. Some of the most common include :

Professional liability insurance: Protection if a client experiences financial loss due to negligence on your part.
Errors and omissions insurance: Protection if you make a mistake leading to damages or loss for a customer.
Cyber liability insurance: Protection if hackers target you, have a data breach or have issues with your technology systems causing a loss.
Commercial general liability insurance: Protects you against damage or personal injury claims if a third party is injured, property damage or makes claims of libel or slander.

How do I get consultant insurance?

Tell us about your insurance needs. Our commercial insurance brokers will find you the best plan and quote from the top providers in Canada.

Enter your information

Provide some details about your consulting company and requirements.

Compare quotes from the top providers

Choose from the best quotes from the top insurers in Canada.

Select the lowest rate and policy

Choose the best premium and get insured.

How much does consultant insurance cost?

consultant using laptop while having customer call in the office

Consulting insurance policy costs can be as unique as your consulting practice. They can range from a few hundred to over a thousand dollars annually. You can expect a policy to start in the $300 to $600 range for basic coverage. Important factors to consider are:

Company size, number of employees
Industry
Years in operation
Annual revenue
Insurance claims history
Peril exposure
The type of consulting services you offer

Speak with our advisors to get an accurate consultant insurance quote. We’ll make sure you get the best premiums.

Consultant insurance claims examples

There are many situations where consulting professionals could potentially have liability exposure. Here are some common consultant insurance claims examples:

Your computer is hacked, and all your client's confidential data is compromised.
A client trips on the steps at your home office and gets injured. They sue you for damages.
You provide a client with advice that leads to a business loss.
A client sues you because they feel you did not meet the contract terms.

These situations could put you at financial risk if you are not adequately insured.

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steve jonkhans

2024-09-26

i used thinkinsure to navigate a complicated car insurance situation after my prior broker could not find me the insurance i required. Denise Snyder Phillips was my agent and she was extremely helpful, efficient and responsive. Highly recommend thinkinsure for your insurance needs and ask for Denise!

Carrie Crump

2024-09-24

Young man is super amazing and caring . Top top notch service !!! Very kind gentleman

DJ G

2024-09-24

I was shopping around for some new auto insurance rates as my current policy was ending soon and was looking for cheaper premiums. I called ThinkInsure, and Todd helped me with the process start to finish. Communication with him after my initial phone call was flawless through email, often replying right away during business hours. He was easy to ask questions and provided multiple quotes to me when I needed to make some changes. I ended up getting better coverage for a much lower premium compared to my current provider with ThinkInsure. Thanks Todd for the seamless experience and helping me get setup!

Philip Witteveen

2024-09-23

Denise is fantastic! She is so kind and patient and works hard to listen and provide you with the best insurance available to you. Denise also continues to look for the cheapest options for you that provides you with the top notch coverage. I would highly suggest connecting with Denise if you're looking for great insurance, good prices, and to work with someone that actually cares. 5 star plus!

Cassandra Brookes

2024-09-20

I had been in the market for new insurance for a while, not getting many great quotes and then I come to find Todd Allen through ThinkInsure and have only great things to say about my experience. Knowledgeable, honest, responsive and made insuring my vehicle a breeze. Within 4 emails back and forth, signing e documents and a final email to confirm I was set up and ready to go. Could not recommend his services enough! Thanks Todd !!

Ginny Sweet

2024-09-19

I was in a difficult situation trying to renew my insurance after my last company stopped providing insurance. Bailey made the whole process quick and easy. I had paperwork signed and documents to me within a few hours of our initial conversation. I am forever grateful

Durai samy Easwarakumar

2024-09-18

Todd Allen such a nice auto insurance advisor Doing a excellent service 👍buy the costumer’s satisfaction to get an cheaper code in the current market 😀

Jenniffer

2024-09-17

great service, sohel rahman was incredible helping us get the insurance we needed, thank you!

Consultant insurance FAQs

What are the benefits of consultant insurance?

It ensures you have the right coverage to reduce financial threats to your company. Advantages include :

Peace of mind in knowing you have protection.
Financial security and protection against loss.
It helps you attract and generate more revenue.
Attract and retain clients.
Competitive advantage over other consultants.

Why is consultant insurance so important?

You never know when accusations of mistakes and negligence could be made against you. They do not have to be true to cost you. Consultant insurance protects you with protection against these types of accusations. It reduces financial threats to your business.

Is consultant insurance mandatory in Canada?

Requirements vary by industry and regional regulations. Some professionals are required to have insurance. Even if it is not a requirement, it provides an important form of protection. Your customers have a legal right to file claims against you for mistakes and errors. Insurance protects you in these instances.

Do consultants need professional indemnity insurance?

Yes. It protects you if you make mistakes and errors when doing business. All it takes is one mistake to be in a compromising situation. Indemnity insurance financially protects your business.

Do consultants require CGL insurance?

Yes. Consultants should have commercial general liability insurance at a minimum. You may require additional coverage depending on your company type and industry.

Get a quote for consultant insurance

With consultant insurance, you can have peace of mind knowing you are financially protected. We'll compare quotes from the top insurers in Canada to help you save and find the best coverage. Call 1-855-550-5515 or request a quote online.

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Save on personalzed consultant insurance that protects business and IT professionals against liabilties and errors.