Consulting and professional services insurance is among the most affordable commercial classes because there's no physical exposure — no employees getting injured, no property to insure, no vehicles in the field. The core coverage is professional liability (E&O) at $62/month average per Insureon. Add GL or a BOP ($61/month) if you have an office.
Most consulting businesses pay about $62 a month for professional liability and $61 a month for a business owner's policy (BOP), based on Insureon's figures for its own customers.
Price is one part of it. Our consultant insurance guide covers which policies you need and why.
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Consultant Insurance Cost Breakdown
Premiums from Insureon's 2026 consultant cost data for its own customers (Insureon calls them averages; its method note describes median premiums):
| Coverage | Average Monthly | Average Annual |
|---|---|---|
| General liability (GL) | $32/mo | $384/yr |
| Business owners policy (BOP) | $61/mo | $732/yr |
| Professional liability (E&O) | $62/mo | $744/yr |
Related Guides for Consultant Insurance
For an independent breakdown of which carriers actually write consultant insurance well in 2026, see our carrier comparison.
For the coverages consulting businesses need and what insurers ask before they quote, see our consultant insurance guide.
What Drives Consultant Insurance Cost Up or Down
- Type of consulting — IT, management, financial, marketing all price differently
- Annual revenue and average contract size
- Whether you advise on regulated activities (financial advice, legal, medical, etc.)
- Contract requirements — clients increasingly mandate specific E&O limits
- Claims history
- State (NY, CA more expensive for E&O)
How to Lower Your Consultant Insurance Cost
- Get the right E&O limit — too low triggers contract problems with clients; too high wastes premium
- Use contractual indemnification language with clients to limit exposure
- Document deliverables in scope-of-work agreements — clear scope reduces claim frequency
- Maintain professional certifications relevant to your consulting area
- Bundle GL + E&O with one carrier when possible (Hiscox, CNA, Hartford all offer packages)
Frequently Asked Questions
How much does consultant insurance cost?
Per Insureon's 2026 data, general liability averages $32/month ($384/year), a business owners policy averages $61/month, professional liability averages $62/month. Total premium depends on revenue, employees, state, and claims history.
What insurance do I need as a consultant?
Most consulting businesses need: general liability (often bundled into a business owners policy), professional liability (E&O) if you provide advice or deliverables. The specific mix depends on your operations, employee count, and any contractual requirements from clients or vendors.
How long does it take consulting businesses to get insurance quotes?
It depends on how many policies consulting businesses need and how quickly you can supply the details. Chubb says a basic online quote often takes only a few minutes for a simple business. Professional liability usually needs a short application about the services you provide and any past claims. Having these details ready is the fastest way to get quotes; see what you need for a business insurance quote.
Should consulting businesses buy insurance direct or through an agent?
Either can work for consulting businesses. Buying direct from an insurer online suits a simple business that needs one or two policies. An agent or broker who compares several insurers helps when your work is unusual or one insurer declines you. Neither route is cheaper by default: each insurer prices its own business types and states, so comparing quotes is the only way to know.
Do consultants need general liability or just professional liability?
Most need both. Professional liability (E&O) covers claims that you gave bad advice, missed a deadline, or made an error in your work product — the main exposure for consultants. General liability covers physical exposures (property damage, bodily injury) — relevant if clients come to your office or you visit theirs. The two coverages are separate forms; many carriers bundle them at a discount. Insureon data shows consultants average $62/month for E&O and $32/month for GL.
What's the difference between professional liability and errors & omissions insurance?
They're the same coverage. "Professional liability" and "errors & omissions" (E&O) are interchangeable in the U.S. consulting market. International markets sometimes call it "professional indemnity" — also the same thing. The policy covers claims alleging negligent acts, errors, or omissions in providing professional services.