Consultants Should Choose a Comprehensive Liability Insurance Package

Consultants who provide services or advice are at risk of being sued if they make an error that results in financial harm to the client. It’s a smart idea to speak with your insurance agent about the types of liability coverage available.

Liability Choices for Consultants

Professional liability for consultants is a wise first choice if you offer your services for a fee. Also called errors and omissions (E&O) insurance, this coverage protects you if a client files a claim for unintentional mistakes made during the process. E&O protection also covers claims of negligence and unfulfilled expectations. Without proper coverage, exorbitant legal fees and settlements can paralyze your finances.

Commercial general liability insurance is also a good investment for consultants. If, for example, a client is injured on your property or their equipment is damaged at your facility, general commercial liability coverage will protect you.

Other Considerations

If you employ others at your office, workers’ compensation covers an employee who is injured while doing their job. It also protects your company since workers forfeit their ability to sue.

As a consultant, you want to fulfill your client’s expectations. Even the most competent person could slip up, however, resulting in unwanted litigation. Liability insurance provides the coverage you need to protect your investment and your reputation.