Consultant Insurance

1-855-550-5515

Compare rates from Canada's top business insurance providers

See all providers

Find the best consultant insurance

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.

5 star insurance reviews

Rated out of 5 stars in Google reviews

Our brokers help customers save more on insurance every day!

See all reviews

The Jordan Family

2024-06-20

Solely was an absolute pleasure to work with. He was very knowledgeable and quick to respond. He had my new policy up and ready in the course of an afternoon, not to mention the best rates out all brokers I came across. I highly recommend this man and his customer service. 5 star service indeed!

Jade W

2024-06-17

Bailey went above and beyond. Was insanely patient with my scatter brain and a million questions. He explained everything to a point of actually understanding vs "that other" company that made me feel like a child for not understanding their legal ramblings. I appreciate you!!!!

Erfan Javid

2024-06-14

I worked with Sohel, and he put in an incredible effort for me! Sohel is an amazing insurance broker who was very helpful and honest. Communicating with him by phone and email was effortless, and he completed all my insurance paperwork without any hassle. I had insurance sorted out with just one phone call and one email thread.

Mykyta Shylin

2024-06-13

Thank you Bailey, for your help in getting my auto insurance policy sorted out after the non-payment cancellation. I really appreciate the effort you put in to ensure everything was taken care of quickly.

Bradley Chapman

2024-06-12

I was in a pickle and they really helped me out, very supportive. I dealt with a woman by the name of Denise and honestly, she deserves an additional 5 stars on top of this 5 star review.

Daniel McDonald

2024-06-11

I had a great experience with my broker, super knowledgeable dude helped me get back on the road quick and clean.

mic

2024-06-10

Working with Todd was a pleasure. It was very easy communicating with him by phone and email. He was able to complete all my insurance paperwork with no hassle. Thank you are the best .

Sathya Krishnakumar

2024-06-08

I recently purchased workplace insurance from ThinkInsure, and Betsy Bannon provided exceptional service. She promptly offered competitive rates and quickly addressed all my questions and messages, even when time was of the essence. Simply awesome job! I will definitely choose ThinkInsure again if I need insurance in the future. Thanks, Betsy, for your terrific customer service. I would recommend ThinkInsure , any day, for your insurance needs.

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.

Get started

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