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: November 4, 2025
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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.
Average business insurance costs for consulting companies for commonly needed coverage are as follows:
| 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, focusing on general liability, professional liability/errors and omissions (E&O), workers' comp and business owner's policy. Your actual rates will vary based on your type of business and location.
Select your industry and state to get a customized quote.
Your consulting business's cost for general liability insurance varies by location. Maine leads with $19 monthly rates, beating the $22 national average, while New York reaches $26 monthly for comparable coverage.
| 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 |
Note: We based these general liability rates on consulting businesses with two employees across different states. Your rates will vary based on your location, claims history and the types of services you provide.
Your workers' compensation insurance cost depends on your state. North Carolina has rates as low as $26 monthly, while New York reaches $35 monthly.
| 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 |
Note: We based these workers' comp rates on consulting businesses with two employees across different states. Your workers' comp requirements and costs will vary by state since each has different regulations.
Your professional liability cost varies by state. Nationwide, this coverage averages $107 monthly. North Dakota offers the most affordable rates at $91 monthly, while New York has the highest costs 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 |
We based these professional liability rates on consulting businesses with two employees across different states. Your actual rates will differ.
Consulting business insurance costs vary based on your state. BOP insurance cost ranges 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 actual rates will vary.
Consulting business insurance costs range from $41 to $57 monthly.
| Chubb | $57 | $680 |
| Coverdash | $56 | $669 |
| Hiscox | $47 | $566 |
| NEXT Insurance | $43 | $511 |
| 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 elevated 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 signal 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, though your premium can change 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 delivers greater savings compared to purchasing individual policies.
Higher premiums result from serving high-liability clients, working with sensitive data, operating across state lines and having gaps in professional experience.
Higher deductibles reduce monthly premiums but increase out-of-pocket costs during claims.
Workers' compensation costs for consulting businesses vary by state.
Yes, BOP insurance is worth it for consulting companies.
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. 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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
