Consulting business insurance averages $48 monthly, with costs ranging from $22 to $107 based on coverage and location.
Get matched with cheap consulting business insurance below.
Updated: February 1, 2026
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Consulting business insurance costs between $315 and $448 annually on average, varying by your coverage needs, location and business focus.
Your consulting insurance rates depend on where you operate, past claims and how many employees you have.
Shop multiple business insurers, combine policies, raise your deductible and pay yearly to reduce your consulting business insurance expenses.
Consulting businesses pay these average rates for commonly needed coverage:
| BOP | $32 | $388 |
| General Liability | $22 | $265 |
| Professional Liability (E&O) | $107 | $1,288 |
| Workers' Comp | $30 | $364 |
*We based these rates on small businesses with two employees across 79 major industries. Your costs depend on your business type and location.
Select your industry and state to get a customized quote.
General liability insurance costs $22 monthly on average for consulting businesses. Maine has the lowest rates at $19 monthly. New York costs $26.
| Alabama | $22 | $260 |
| Alaska | $21 | $252 |
| Arizona | $21 | $251 |
| Arkansas | $21 | $254 |
| California | $25 | $295 |
| Colorado | $22 | $262 |
| Connecticut | $24 | $287 |
| Delaware | $24 | $285 |
| Florida | $24 | $286 |
| Georgia | $22 | $269 |
| Hawaii | $24 | $284 |
| Idaho | $21 | $251 |
| Illinois | $24 | $290 |
| Indiana | $22 | $258 |
| Iowa | $21 | $252 |
| Kansas | $21 | $257 |
| Kentucky | $20 | $246 |
| Louisiana | $25 | $303 |
| Maine | $19 | $229 |
| Maryland | $21 | $252 |
| Massachusetts | $23 | $278 |
| Michigan | $21 | $250 |
| Minnesota | $21 | $248 |
| Mississippi | $22 | $266 |
| Missouri | $22 | $262 |
| Montana | $22 | $263 |
| Nebraska | $21 | $250 |
| Nevada | $25 | $300 |
| New Hampshire | $22 | $263 |
| New Jersey | $25 | $300 |
| New Mexico | $22 | $266 |
| New York | $26 | $307 |
| North Carolina | $19 | $229 |
| North Dakota | $19 | $230 |
| Ohio | $20 | $245 |
| Oklahoma | $21 | $253 |
| Oregon | $20 | $246 |
| Pennsylvania | $25 | $305 |
| Rhode Island | $24 | $290 |
| South Carolina | $23 | $273 |
| South Dakota | $21 | $247 |
| Tennessee | $22 | $258 |
| Texas | $22 | $267 |
| Utah | $21 | $252 |
| Vermont | $21 | $254 |
| Virginia | $20 | $241 |
| Washington | $25 | $301 |
| West Virginia | $23 | $278 |
| Wisconsin | $22 | $260 |
| Wyoming | $20 | $245 |
*These rates reflect consulting businesses with two employees. Your costs depend on your location, claims history and services.
Workers' compensation insurance costs vary by state. North Carolina charges $26 monthly. New York charges $35.
| 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 |
*These rates reflect consulting businesses with two employees. Each state sets its own workers' comp requirements and pricing.
Professional liability insurance averages $107 monthly for consulting businesses. North Dakota has the lowest rates at $91 monthly. New York has the highest at $125.
| 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 |
*We based these professional liability rates on consulting businesses with two employees across different states. Your rates will differ based on your specialty and location.
BOP insurance costs vary by state, ranging from $28 in North Carolina to $37 in Pennsylvania for the same coverage level.
| 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 |
*We based these BOP rates on businesses with two employees across different states. Your rates depend on your business type and location.
Consulting business insurance costs range from $41 to $57 monthly.
| Chubb | $57 | $680 |
| Coverdash | $56 | $669 |
| ERGO NEXT | $43 | $511 |
| Hiscox | $47 | $566 |
| Nationwide | $50 | $599 |
| Progressive Commercial | $48 | $575 |
| Simply Business | $43 | $513 |
| The Hartford | $41 | $496 |
| Thimble | $50 | $598 |
| biBERK | $50 | $600 |
Consulting business insurance costs depend on factors insurers review when setting your rates.
Your practice location affects rates through local litigation trends and regulatory complexity. Consultants in major metros like New York or Chicago pay more due to higher lawsuit frequencies and higher business costs. State differences in professional liability laws create premium variations for identical consulting practices.
Past malpractice claims or client disputes impact your insurability and pricing for years. Even settled cases from five years ago affect current premium calculations.
Clean professional records allow consultants to access preferred carrier programs with competitive rates.
Client sophistication levels reshape your liability profile. Fortune 500 companies have the resources to pursue major litigation over consulting failures, while small business clients represent more modest exposure.
Serving regulated industries like healthcare or finance increases scrutiny and premium costs.
Workforce size drives workers' compensation and employment practices liability costs. Solo consultants maintain lean insurance expenses, while firms with multiple associates and support staff see premiums scale with total payroll. Each additional team member increases your exposure to employment-related claims.
Your consulting specialty directly correlates with risk assessment and premiums. Strategy advisors have different exposures than implementation consultants who execute recommendations. Services involving financial projections, compliance guidance or operational restructuring carry heightened liability compared to general business coaching.
Annual billings show project scope and corresponding insurance needs. Independent consultants earning $120,000 require basic coverage, while established firms generating $3 million need comprehensive protection. Higher revenue shows larger client engagements where advice failures could trigger substantial damages.
Selected protection levels create major cost differences. Many consultants start with $1 million in professional liability, though corporate clients often mandate $2 million to $5 million minimums.
Cyber liability for client data and employment practices liability add separate costs beyond basic professional indemnity coverage.
Financial credentials influence both rates and carrier options. Consultants with excellent credit receive 20% to 40% discounts versus those with credit challenges. Strong financials show business stability and reduce insurer concerns about claims filed for cash flow purposes.
Cut your consulting business insurance costs through smart planning and strategic choices. We provide a step-by-step guide to help you find cheap business insurance for your consulting firm.
Consulting firms need professional liability insurance. Add general liability and cyber liability if you handle sensitive client information. Consider employment practices liability if you have staff.
Professional liability rates for consultants depend on your specialty area, with management consultants paying different rates than HR or IT consultants.
Buying professional liability, general liability and cyber coverage from one insurer reduces your total cost by 18% to 25%.
Raising your professional liability deductible to $2,500 or $5,000 can reduce premiums by 20% to 30% annually.
Monthly installment plans add processing fees that cost 6% to 10% more than paying annually.
Your insurance requirements change when you add consultants, enter new service areas or take on larger clients.
Consulting business insurance costs between $22 and $107 per month, depending on your location, company size and claims history.
Comparing quotes from several insurers, bundling your coverage, choosing higher deductibles and paying annually rather than monthly can help you secure lower rates.
Consulting business owners commonly ask about insurance costs. We answered the most frequent questions below:
General liability insurance is the cheapest at $22 monthly.
You'll pay more in these states. General liability in California runs $25 monthly and BOP costs $37 monthly.
Bundling saves 18% to 25% on total costs compared to buying separate policies.
Higher premiums result from serving high-liability clients, working with sensitive data, operating across state lines and having gaps in professional experience.
A $2,500 deductible reduces premiums by 20% to 30% compared to a $500 deductible. Choose the higher deductible if you have emergency savings to cover potential claims.
Workers' compensation rates for consulting businesses range from $26 to $35 monthly, depending on your state.
Yes. BOP bundles general liability and property coverage at a lower cost than buying separately, plus it covers business interruption and equipment breakdown.
Shop annually when your policy renews.
We gathered insurance quotes for consulting businesses from different providers across several states. To make fair comparisons, we used the same sample business setup for every quote:
This profile represents a small consulting firm that needs broad coverage. We focused on insurers that operate nationwide, offer online quotes and specialize in serving consulting businesses.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in 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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
