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Management Consultant Insurance

Protect your consulting business from potential liabilities and risks with specialized insurance designed specifically for you. The price starts at only $229/year.

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$229

Yearly Policy
4.8/5
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Great American Insurance Group logo
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Affordable, Fast, and Comprehensive

Our Management Consultant Insurance Coverage Is Designed To Meet Your Unique Needs

What is Management Consultant Insurance?

Management consultant insurance is designed to protect professionals in the field of management consulting. It provides protection from potential risks and liabilities arising from consultant advice. This insurance helps safeguard consultants from lawsuits, claims, or damages resulting from errors or negligence in their services. Management consultant insurance covers legal defense costs, settlements, and judgments, providing consultants with financial security and peace of mind.

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Who Needs Management Consultant Insurance?

Management consultant insurance offers comprehensive coverage for various types of management consultants, including:

  • Independent Management Consultants
  • Business Analysts
  • Consulting Firms
  • HR Consultants

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How Much is Management Consultant Insurance?

Management consulting insurance is available for as low as $21.08 per month or $229 per year. The cost can vary depending on:

  • Gross income of your business.
  • Selected coverages.
  • Coverage limits.

For a comprehensive understanding of how to tailor your insurance coverage to suit your needs as a management consultant, please refer here.

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Why Choose Insurance Canopy?

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What’s Covered in Management Consultant Insurance?

Business consultants need several key coverage types for complete insurance protection:

General Liability

General Liability coverage provides necessary protection against claims from third parties for bodily injury, property damage, or personal and advertising injury. This coverage includes legal expenses, settlement costs, and damages awarded in lawsuits, offering financial protection for management consultants in a field where unexpected accidents can happen.

Professional Liability Coverage

Professional liability coverage is essential for protecting consultants from claims of negligence, errors, or omissions. There is a risk of client dissatisfaction or financial loss when providing advice and recommendations. This coverage pays for defense costs, settlements, or judgments, allowing consultants to focus on their work without the worry of professional risks.

Errors and Omission Coverage

Errors and omissions (E&O) coverage offers protection against mistakes, negligence, or failure to provide accurate advice or services to clients. This insurance covers legal fees, settlements, and damages from claims related to consulting work. E&O coverage provides financial security, enabling consultants to deliver high-quality services without concern for potential financial burdens.

Cyber Liability Coverage

Cyber liability coverage protects against financial losses and damages caused by cyber-attacks. This includes data breaches, hacking incidents, and identity theft. Management consultants who handle sensitive client information online need this coverage for effective risk management. It ensures preparedness and financial security in case of a cyber incident.

Tools and Equipment Coverage

Management consultants are properly protected from the financial impact of damaged, lost, or stolen tools and equipment. This is especially important for consultants who rely heavily on specialized tools for their work. Consultants can have peace of mind knowing that unexpected incidents will not disrupt business operations because the necessary tools can be replaced or repaired promptly.

Coverage Limits for Management Consultant Insurance

Management consultant insurance offers various coverage options with specific limits, including:

General & Professional Liability Limits

The most your policy will pay in a 12 month policy period for bodily injury and property damage claims that you become legally obligated to pay due to your business and professional services.

$3,000,000

The maximum amount your policy will pay in a 12-month period for bodily injury and property damage claims that result from the products you use to perform your services. However, it does not cover products that are manufactured, sold, or distributed.

$1,000,000

The amount that your policy will pay for claims arising out of one or more of the following offenses:
– False Arrest, detention or imprisonment
– Malicious prosecution
– Wrongful Eviction or Wrongful Entry
– Oral or written publications that slander or libels a person or organization
– Oral or written publication or material that violates a person’s right of privacy
– The use of another’s advertising idea in your advertisement

Included

The maximum the insurance carrier will pay for a bodily injury or property damage claim that you become legally obligated to pay due to your business and professional services.

$1,000,000

The most we will pay for property damage to any one premises, while rented to you, or in the case of damage by fire, while rented to you or temporarily occupied by you with permission of the owner.

$300,000

Medical Expense (Any one person)

$5,000

Additional Limits

Inland marine insurance covers tangible property that is movable or transportable in nature (e.g. supplies, equipment, or inventory) but excludes coverage for structures and items that are part of the structure. Note: a $250 deductible applies to this coverage.

$4,000

FAQs About Management Consultant Insurance

Answers to Common Questions About Management Consultant Insurance.

Get Protected with Insurance Canopy Today

Management consultants are instrumental in optimizing business operations and achieving goals. However, this profession carries risks and liabilities. Therefore, it is imperative for management consultants to obtain adequate insurance coverage to safeguard against unforeseen circumstances. Insurance Canopy specializes in tailored coverage options designed specifically for business consultants, including professional liability, general liability, and cyber liability insurance.

Insure Your Management Consulting Practice Today

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