Consulting business insurance costs vary widely across coverage types, helping you plan your budget effectively. Monthly premiums range from $22 for general liability coverage to $107 for professional liability insurance.
How Much Does Consulting Business Insurance Cost?
Business insurance for consultants starts at $22 per month, though your specific business details and coverage needs will determine your actual rate.
Discover cheap consulting business insurance below.
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Updated: August 16, 2025
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Key Takeaways
Consulting business insurance costs range from $22 to $107 monthly, with general liability offering the most affordable coverage option.
Your consulting insurance premiums depend on location, claims history, property types serviced and employee count.
Shop multiple insurers, bundle policies, increase deductibles and pay annually to find affordable consulting business insurance costs.
Average Consulting Business Insurance Cost Overall
| BOP | $32 |
| General Liability | $22 |
| Professional Liability (E&O) | $107 |
| Workers Comp | $30 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Consulting Business Insurance Cost for General Liability Coverage by State
Your consulting business insurance cost for general liability coverage depends on where you operate. North Carolina offers the most savings at $19 monthly versus the $22 national average, while New York costs $26 monthly.
| Alabama | $22 |
| Alaska | $21 |
| Arizona | $21 |
| Arkansas | $21 |
| California | $25 |
| Colorado | $22 |
| Connecticut | $24 |
| Delaware | $24 |
| Florida | $24 |
| Georgia | $22 |
| Hawaii | $24 |
| Idaho | $21 |
| Illinois | $24 |
| Indiana | $22 |
| Iowa | $21 |
| Kansas | $21 |
| Kentucky | $20 |
| Louisiana | $25 |
| Maine | $19 |
| Maryland | $21 |
| Massachusetts | $23 |
| Michigan | $21 |
| Minnesota | $21 |
| Mississippi | $22 |
| Missouri | $22 |
| Montana | $22 |
| Nebraska | $21 |
| Nevada | $25 |
| New Hampshire | $22 |
| New Jersey | $25 |
| New Mexico | $22 |
| New York | $26 |
| North Carolina | $19 |
| North Dakota | $19 |
| Ohio | $20 |
| Oklahoma | $21 |
| Oregon | $20 |
| Pennsylvania | $25 |
| Rhode Island | $24 |
| South Carolina | $23 |
| South Dakota | $21 |
| Tennessee | $22 |
| Texas | $22 |
| Utah | $21 |
| Vermont | $21 |
| Virginia | $20 |
| Washington | $25 |
| West Virginia | $23 |
| Wisconsin | $22 |
| Wyoming | $20 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Consulting Business Insurance Cost for Workers’ Compensation Coverage by State
Your consulting business's cost for workers' compensation varies by state. North Carolina offers the lowest rates at $26 monthly and Nevada the highest at $35 monthly. Our analysis reveals how state regulations and claim histories create these differences.
| Alabama | $29 |
| Alaska | $28 |
| Arizona | $29 |
| Arkansas | $29 |
| California | $34 |
| Colorado | $30 |
| Connecticut | $33 |
| Delaware | $33 |
| Florida | $33 |
| Georgia | $31 |
| Hawaii | $32 |
| Idaho | $28 |
| Illinois | $33 |
| Indiana | $29 |
| Iowa | $29 |
| Kansas | $30 |
| Kentucky | $28 |
| Louisiana | $35 |
| Maine | $26 |
| Maryland | $29 |
| Massachusetts | $32 |
| Michigan | $29 |
| Minnesota | $28 |
| Mississippi | $30 |
| Missouri | $30 |
| Montana | $30 |
| Nebraska | $29 |
| Nevada | $35 |
| New Hampshire | $30 |
| New Jersey | $34 |
| New Mexico | $30 |
| New York | $35 |
| North Carolina | $26 |
| Oklahoma | $28 |
| Oregon | $28 |
| Pennsylvania | $35 |
| Rhode Island | $33 |
| South Carolina | $31 |
| South Dakota | $28 |
| Tennessee | $30 |
| Texas | $31 |
| Utah | $29 |
| Vermont | $29 |
| Virginia | $27 |
| West Virginia | $32 |
| Wisconsin | $30 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Workers' compensation requirements vary by state and are mandated by state regulations. Survey results reflect limited sample data and may not represent all available rates in your area.
Consulting Business Insurance Cost for Professional Liability Coverage by State
The cost for professional liability varies by state for consulting businesses. The national average is $107 monthly. North Dakota offers the lowest rates at $91 monthly, while New York charges the highest for E&O insurance at $125 monthly.
| Alabama | $107 |
| Alaska | $98 |
| Arizona | $101 |
| Arkansas | $105 |
| California | $120 |
| Colorado | $107 |
| Connecticut | $117 |
| Delaware | $116 |
| Florida | $114 |
| Georgia | $109 |
| Hawaii | $110 |
| Idaho | $103 |
| Illinois | $121 |
| Indiana | $104 |
| Iowa | $101 |
| Kansas | $104 |
| Kentucky | $100 |
| Louisiana | $121 |
| Maine | $94 |
| Maryland | $102 |
| Massachusetts | $114 |
| Michigan | $102 |
| Minnesota | $100 |
| Mississippi | $107 |
| Missouri | $107 |
| Montana | $108 |
| Nebraska | $101 |
| Nevada | $121 |
| New Hampshire | $107 |
| New Jersey | $121 |
| New Mexico | $110 |
| New York | $125 |
| North Carolina | $96 |
| North Dakota | $91 |
| Ohio | $101 |
| Oklahoma | $101 |
| Oregon | $97 |
| Pennsylvania | $124 |
| Rhode Island | $118 |
| South Carolina | $108 |
| South Dakota | $101 |
| Tennessee | $103 |
| Texas | $107 |
| Utah | $102 |
| Vermont | $102 |
| Virginia | $96 |
| Washington | $122 |
| West Virginia | $114 |
| Wisconsin | $106 |
| Wyoming | $101 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Consulting Business Insurance Cost for BOP Coverage by State
Business owner's policy rates vary significantly by state for consulting businesses. Monthly premiums range from $28 in North Carolina to $37 in Pennsylvania, showing how location impacts insurance costs.
| Alabama | $32 |
| Alaska | $30 |
| Arizona | $31 |
| Arkansas | $31 |
| California | $37 |
| Colorado | $31 |
| Connecticut | $35 |
| Delaware | $35 |
| Florida | $35 |
| Georgia | $32 |
| Hawaii | $33 |
| Idaho | $31 |
| Illinois | $35 |
| Indiana | $31 |
| Iowa | $31 |
| Kansas | $31 |
| Kentucky | $29 |
| Louisiana | $37 |
| Maine | $28 |
| Maryland | $31 |
| Massachusetts | $34 |
| Michigan | $31 |
| Minnesota | $31 |
| Mississippi | $33 |
| Missouri | $32 |
| Montana | $33 |
| Nebraska | $31 |
| Nevada | $37 |
| New Hampshire | $31 |
| New Jersey | $37 |
| New Mexico | $33 |
| New York | $37 |
| North Carolina | $28 |
| North Dakota | $28 |
| Ohio | $29 |
| Oklahoma | $31 |
| Oregon | $31 |
| Pennsylvania | $37 |
| Rhode Island | $36 |
| South Carolina | $33 |
| South Dakota | $30 |
| Tennessee | $31 |
| Texas | $33 |
| Utah | $31 |
| Vermont | $31 |
| Virginia | $29 |
| Washington | $37 |
| West Virginia | $34 |
| Wisconsin | $32 |
| Wyoming | $30 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP coverage. Survey results reflect limited sample data and may not represent all available rates in your area.
Factors Affecting Consulting Business Insurance Cost
Insurance companies look at several factors to determine your consulting business insurance costs. Understanding these pricing elements helps you create more accurate budget forecasts. Here's a detailed look at what affects your rates.
Geographic location
Your business location affects workers' compensation rates due to local regulations and claim frequencies. Operating in areas with higher business litigation rates or strict regulatory requirements increases your risk profile, and state differences create premium variations.
Safety record and claims history
Previous claims impact future premiums, sometimes for three to five years. A single professional liability lawsuit can substantially increase your general liability rates at renewal.
Employee count and payroll
Insurers calculate workers' comp premiums based on your total payroll and job classifications. Adding employees increases your payroll costs, impacting your workers' compensation premiums since insurers calculate your rates per dollar of wages paid.
Business size and revenue
Higher annual revenue means higher premiums since insurers view larger operations as having greater exposure to claims. For example, a solo consultant earning $75,000 annually pays less than a consulting firm with $2 million in revenue.
Coverage limits
Higher coverage limits provide better protection but cost more monthly. Choosing between different coverage amounts directly affects your premium, with higher limits increasing costs proportionally.
Credit score and financial stability
In most states, insurers can consider your business credit score when setting rates. A strong credit score can reduce premiums, while poor credit often increases costs substantially.
How to Get Cheap Consulting Business Insurance
Smart shopping and risk management strategies can help reduce your consulting business insurance costs significantly, and these proven tips will show you how to lower your premiums both now and in the future.
- 1
Choose the right coverage types for your business
Understanding what types of business insurance your consulting business needs prevents overpaying for unnecessary coverage. Professional liability insurance protects against client claims of errors or negligence, while general liability covers basic business risks. Commercial property insurance is only necessary if you have a physical office.
- 2
Shop multiple insurance companies
Insurance rates can vary significantly between carriers for identical coverage. Compare quotes from at least three insurers to find the best rates. Consider working with an independent agent who can shop multiple carriers for you.
- 3
Bundle your coverage types
Insurance companies offer substantial discounts when you bundle multiple policies together. Combining professional liability with general liability or commercial property insurance through one carrier typically costs less than separate policies from different insurers.
- 4
Increase your deductibles
Choosing higher deductibles reduces your monthly premium costs. This means paying more out-of-pocket when filing a claim, but can significantly lower your regular insurance expenses. Select a deductible amount you can comfortably afford if needed.
- 5
Pay annually instead of monthly
Most insurance carriers add processing fees for monthly payment plans. Paying your premium annually eliminates these extra charges and often qualifies you for additional discounts. Consider budgeting for annual payments to maximize savings.
- 6
Review and adjust your coverage annually
Your insurance needs change as your consulting business grows. Review your coverage yearly to ensure you're not paying for unnecessary protection. Adjust your policy limits based on current revenue, services offered and risk exposure.
Insurance for Consulting Business Cost: Bottom Line
Consulting business insurance costs range from $22 to $107 monthly, with your location, claims history and business size driving your actual premium. Getting quotes from multiple insurers, bundling your policies, choosing higher deductibles and paying annually instead of monthly helps you find more affordable rates.
Consulting Business Insurance Cost: FAQ
Business owners ask many questions about consulting company insurance costs. Here's what you need to know about coverage prices and options.
What is the cheapest type of consulting business insurance?
General liability costs $22 monthly, making it the most affordable option. Most consulting businesses need general liability insurance to protect against client accidents and property damage claims.
How much can I save by bundling my consulting business insurance policies?
Bundling business insurance policies through a business owner's policy offers the lowest rates, with monthly premiums starting at $32 for consulting businesses.
What factors make my consulting business insurance more expensive?
Factors such as your business location, size and number of employees may make your insurance more expensive. General liability insurance is the most budget-friendly option for consulting businesses, with average monthly premiums of $22. This basic coverage protects against common workplace accidents and property damage.
Should I choose a $500 or $2,500 deductible for my consulting business insurance?
Higher deductibles mean lower monthly premiums but require more out-of-pocket costs when filing claims. Base your choice on available cash reserves and claim frequency.
How much does workers' compensation cost for consulting businesses by state?
Workers' compensation insurance costs range from $26 monthly in North Carolina to $35 monthly in New York. Rates vary based on your business location and risk factors.
Is business owner's policy (BOP) worth the extra cost for consulting companies?
BOP insurance for consulting firms costs $32 monthly on average nationwide. This combined coverage package offers better value than purchasing separate policies for general liability, commercial property and business interruption insurance.
How often should I shop around for consulting business insurance quotes?
Review your business insurance annually during renewal and compare at least three carriers. This helps secure better rates, particularly during business growth or service expansion.
How We Determined Consulting Business Insurance Costs
We collected consulting business insurance quotes from companies across different states. To make sure we compared apples to apples, every quote used the same business setup:
- Two employees (three people total, including the owner)
- $150,000 annual payroll
- $300,000 annual revenue
- Already insured status
- $1 million per occurrence and $2 million total per year for all coverage except BOP, which includes the same limits plus $5,000 business property coverage
This profile represents small consulting businesses requiring comprehensive insurance coverage in most states. We chose companies offering broad national coverage and online quote capabilities, focusing on insurers that actively serve the consulting industry.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.