Immigration Consultant Insurance: Cost & Quotes From $11/month

s an immigration consultant, you are expected to help clients looking to relocate from one country to another. Just like a legal consultant or management consultant, you work through a minefield of paperwork and a host of ever-changing legislation.

Given the nature of your work, it doesn't take much to hamper a smooth immigration process. Your client's documents could go missing, or you could make mistakes with their paperwork. A mistake on your part could cost the client a favorable outcome. To make matters worse, as it stands, the Immigration Act of 2014 makes it impossible to appeal. 

In such a circumstance, it wouldn't be too farfetched to go all out and claim that a blame game will ensue. Emotions are likely running high, and you might find yourself being accused of negligence or failure to fulfill your professional duty. 

While you could rely on your reputation to help you navigate these murky waters, there's a likelihood that the client might seek compensation for what they've invested into the immigration process. In this circumstance, you want to have someone fighting in your corner. That's where immigration consultant insurance comes in. 

Getting immigration consultant insurance protects your work, your reputation as an immigration consultant, and your bank balance when mistakes inevitably happen. Once the claim is filed, it's in the hands of your insurance provider of choice. You no longer have to worry over defending yourself, paying your legal team, or paying out of pocket for any compensation or damages. 

In today's litigious environment, it is no longer a question of whether or not you need immigration consultant insurance. Seeing as mistakes will inevitably occur, you want to stay proactive about covering yourself as best as possible.

Immigration Consultant Liability Insurance 

General liability insurance is the first immigration consultant liability insurance you must purchase. This policy protects you against claims made regarding your legal liability for damage or injury suffered by a third party. Insurers will often also include product liability insurance as part of the general liability policy you purchase. General liability insurance immigration consultants, engineering consultants, and lactation consultants further grants protection against claims for slander, copyright infringement, and libel. 

Employer’s Liability Insurance for Immigration Consultants

The other immigration consultant liability insurance you must purchase is employers' liability insurance for immigration consultants, environmental consultants, and other consultants. This policy protects you and the consultancy from claims made against you by your employees, citing that you are responsible for the death, disease, or injury sustained by the employee. 

Professional Indemnity Insurance for Immigration Consultants

Professional indemnity insurance for immigration consultants, education consultants, and HR consultants protects you against claims of a breach or alleged breach of professional duty. This policy also meets any costs of awards against you and legal defense. Unlike general liability insurance, this policy only responds to claims filed against your immigration consultancy during the policy year. 

Note that the limit of indemnity under your professional indemnity insurance is often capped at the maximum limit of the insurance provider's liability under the policy. This is subject to whether the policy is on an aggregate or independent basis. You want your opinion of the risks to which you are exposed to guide your choice on the amount of professional indemnity insurance policy to purchase. 

It is prudent to mention that you can purchase a run-off professional indemnity insurance policy. This policy protects you and the immigration consultancy firm from future claims with respect to work you might have done in the past. This run-off policy is particularly handy if you intend to retire or sell your immigration consultancy business. 

Overall, the professional indemnity insurance covers: 

• Data loss

• Negligence 

• Misrepresentation 

• Abuse of intellectual property 

• Defamation 

Business Owner’s Policy for Immigration Consultants

As an independent immigration consultant, you are likely looking for cost-effective and comprehensive coverage. That's where business owner's policy (BOP) for immigration consultants, safety consultants, and business consultants comes in. It provides you with the opportunity to bundle your general liability insurance policy and property insurance policy. This two-in-one policy protects against third-party liabilities and property damage or loss. Even the most basic policy will cover risks, including:

• Customer injuries and property damage

• Damage to business property

• Slander and other related offenses

Note that for your business to be eligible for a BOP, it needs to:

• Have fewer than 100 employees

• Need less than 12 months of business interruption insurance

• Make less than $1 million in annual revenue

• Run the consultancy from a small office or workspace

Workers Compensation Insurance for Immigration Consultants

Even in a relatively low-risk field like immigration consulting, most states mandate that you get workers' compensation insurance. Your employees are still susceptible to injuries from slip-and-fall accidents and repetitive motion, among others. If any of these were to occur, your business would be exposed to both legal and financial ramifications that might result in insolvency and, even worse, business closure.

Investing in a workers' compensation insurance policy for immigration consultants, construction consultants, and sleep consultants means you are covered in three primary areas. These include:

• Employee injury and death lawsuits

• State law compliance

• Employee work injury expenses

If you run your immigration consultancy business in Ohio, Washington, Wyoming, or North Dakota, you will be required to purchase workers' compensation insurance through a monopolistic state fund. This means that it might likely not include the employer's liability insurance. However, if you purchase the policy from a private insurance provider, you could potentially fill this gap.

Further, as an SME, you are a prime target for cyber threat actors. They are counting on your IT budget and workforce being limited. That way, they can easily get access to your IT ecosystem and compromise your data or that of your clients.

Imagine a situation in which cyber criminals manage to steal the social security number or credit card information belonging to your clients. If any of this personal information is used in malicious means, there's a likelihood that your clients will file a claim.

That's where cyber liability insurance for immigration consultants, IT consultants, and marketing consultants comes in. It caters for:

• Legal costs from a client's lawsuit

• Fraud monitoring on affected accounts

• Customer notification and follow-up expenses

As you purchase cyber liability insurance, you want to ensure that the policy includes both first- and third-party cyber liabilities. The first-party cyber liability insurance will cover all costs of data breaches to your own IT infrastructure. It pays for the expenses of notifying clients or customers of the breach, the cost of monitoring services for affected clients, and cyber extortion demands, including ransoms.

Third-party cyber liability insurance covers you in the event that a data breach of a client is believed to originate from you. Suppose a client's credit card information lands in the wrong hands due to a leak in your IT infrastructure, and they are defrauded of their money; It is quite probable that they will sue you. The third-party cyber liability insurance coverage pays for:

• Attorney fees

• Court costs

• Settlements, fines, or judgments

Immigration Consultant Insurance Cost 

Immigration consultants pay $29 per month or $348 per year for general liability insurance. This will have a $1 million per occurrence limit with a $500 deductible. In addition, here's a breakdown of the cost of immigration consultant insurance from the best companies in the market:

Cost Of Other Insurance for Immigration Consultants

The premium of professional liability insurance for immigration consultants is $65.82 per month or $789.84 per year. 

The premium of workers' compensation insurance for immigration consultants is $74 per month or $888 per year. 

For a BOP for an immigration consultancy, you will pay $60.75 per month or $729 per year. 

Finally, as a small immigration consultancy, you will pay $115 per month or $1,380 per year for cyber liability insurance.