Today's economy presents a plethora of opportunities for legal consultants. You can be hired as the trusted point of reference for immigration consultants, ensuring that all requirements for obtaining visas are complete and orderly.
Businesses might also request your services and place you on a team of financial consultants. Here, you’re the professional that ensures that taxation laws and contractual obligations are met.
As a legal consultant, you may be accused of breaching the contractual agreement, including failing to provide the best advice. Besides, a client might feel that the advice you provided resulted in noncompliance with state or federal law, financial damages, and personal injury claims.
Further, suppose you provide what could be considered discriminatory policies or curriculums, subject to litigation if the client takes legal action. Additionally, what if the client claims ineffective documentation, which leads to a legal battle?
To protect yourself, you need legal consultant insurance. This specialty insurance protects your firm from any claims or lawsuits brought against it.
Without legal consultant insurance, you will solely have to meet the cost of said lawsuits and court judgments if the trial goes sideways. With the cover, you have a partner in your corner covering you in case a mistake or accident occurs.
Limits of General Liability Insurance for Legal Consultants
| Value | |
|---|---|
| General liability per occurrence limit | $1 million |
| General liability aggregate limit | $2 million |
| Products and completed operations coverage limit | $2 million |
| Advertising injury coverage limit | $1 million |
| Medical payments coverage limit | $5,000 |
| Deductible | $0-$2,500 |
Legal consultant liability insurance covers the cost of defending your business from third-party claims.
A standard general liability policy typically covers legal defense costs and costs of settlements and judgments resulting from claims of:
Bodily Injury
If someone is injured at your place of business or due to your operations, you are held liable for the resulting medical expenses. The policy steps in to meet these costs.
Property Damage
If you or anyone affiliated with the legal consultancy were to damage another's property during the course of business, you are held liable for its value. The general liability insurance policy steps in to cover all arising costs.
Advertising Injuries
If there were claims of false advertising or copyright infringement, the policy would cover the cost of the claim.
Tenant Legal Liability
If you rent a business premise and there is damage to it which results in a lawsuit from the landlord, the policy covers the costs of said lawsuit.
Defamation
General liability insurance covers reputational harm due to libel and slander, wrongful eviction, false arrest, or invasion of privacy.
Limits of Professional Indemnity Insurance for Legal Consultants
| Value | |
|---|---|
| Professional liability per occurrence limit | $500,000-$5 million |
| Professional liability aggregate limit | $2 million-$5 million |
| Deductible | $500 |
Professional indemnity insurance covers the cost of defending your legal consultancy from any allegations of professional negligence. The policy covers any allegations of giving your client incorrect or wrongful advice.
It also covers any compensation for damages you must give to the claimant. You must consider getting a professional indemnity cover with limits ranging from $500,000 to $5 million.
In a world where legal malpractice claims are on the rise, getting professional liability insurance for your legal consultancy saves you from the legal and financial strain that a claim could inevitably cause.
Also referred to as errors & omission (E&O) insurance policy, legal consultant professional indemnity insurance further covers:
Documentation errors
Misuse of client's data
Violation of laws and regulations
Theft, breach of contract, poor behavior
Inaccurate advice
Workers' compensation insurance isn’t only useful for lactation consultants, but for your business too. While the law consultancy might not typically face grave physical hazards or risks, there still could be some work-related injuries.
As such, you want to purchase workers' compensation insurance that protects your firm from damages, including medical bills and lost wages when an employee sustains any injury at work.
Note that the worker's compensation for you and other kinds of consultants comes with an optional employer’s liability insurance.
In today's legal landscape, you will likely be dealing with clients' sensitive data and personal information. This means that your legal consultancy is a prime target for threat actors. While you could take steps towards keeping your consultancy's IT ecosystem safe, you also need to get appropriate insurance to cover cyber liability issues.
While the insurance policy doesn't prevent a security breach, it sure can help your consultancy over the claims. It can also come in handy in dealing with the financial implications of data recovery following a cyber event.
Get all the best quotes from leading providers in a click of a button!
D&O insurance is a type of business liability insurance meant to protect your consultancy if a claim or lawsuit is filed against your board of directors. An example of a lawsuit would be one pertaining to business mismanagement. The policy also protects you against any suits alleging firm mismanagement. It covers all the potential defense costs and could reimburse the settlement costs for such claims.
If you have a few other legal consultants working within your consultancy, you must consider getting an EPLI. This policy protects the legal consultancy firm from potential employment-related lawsuits and claims that your employees might make against you for violating their rights. This policy protects you from claims of:
Discrimination
Wrongful termination
Sexual harassment
Exploitation
Legal consultants pay $38 per month or $456 per year for a $1 million general liability insurance. Here’s a table showing how much companies charge:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $22.43 | $269.16 | Best overall; Fastest general liability insurance for legal consultants |
| CoverWallet | $25 | $300 | Legal consultant insurance online quotes comparison |
| Tivly | $27 | $324 | Comparing legal consultant insurance quotes over the phone |
| Thimble | $30 | $360 | On-demand general liability insurance for legal consultants |
| Hiscox | $29.16 | $349.92 | General liability insurance with worldwide coverage for legal consultants |
| ARAG | $31 | $372 | Insurance plan with perks catered to the unique risks of legal consultants |
| Markel | $35 | $420 | Workers' compensation and business owner's policies for legal consultants |
| The Hartford | $39 | $468 | Professional liability insurance for legal consultants |
| AXA | $41 | $492 | Legal consultants looking for a company with excellent risk consulting services |
The exact cost of your legal consultant insurance will vary depending on various factors. As such, it would be best that you do your research and get a few quotes from several insurers. Factors that can influence the pricing of your legal consultant insurance include:
The number of attorneys in the consultancy
Area of practice, for instance, certain fields like real estate legal consultancy might attract higher premiums
The geographic location of your practice
Prior claims history
Compare quotes to get the best coverage at the most reasonable rate. Click on the “Get Quotes” button on this page to start.
Professional liability insurance for legal consultants cost $45.83 per month or $549.96 per year. At this price, the policy has a $1 million per occurrence limit and a $2 million aggregate limit.
The cost of workers compensation insurance depends on the number of employees. Most legal consultants working with a team of 5 people pay $55 per month or $660 per year.
A business owner's policy will cost legal consultants $44.83 per month or $537.96 per year. This is considerably cheaper, seeing as you will be combining general liability insurance with commercial property insurance, all for the cost of one. Most BOP will have a $1 million per occurrence limit and a $2 million aggregate limit.
You will pay $112 per month or $1,344 per year for cyber liability insurance. This policy will cover your consultancy in the event that you ever collect credit card information or social security numbers from your clients.
Get all the best quotes from leading providers in a click of a button!
Here's a list of the best legal consultant insurance companies to consider working with. Read to know their pros, cons, and rate for a $1 million general liability policy.
Best overall
Get an online proof of insurance and send as a text message, email, or social media post
Fastest general liability insurance
Great customer service and reputation
Issues an online proof of insurance instantly
Outstanding value for money
Bundle two or more legal consultant insurance policies and get a 10% discount
Couldn’t find any
With NEXT’s legal consultant insurance, you get general liability, commercial property, and workers compensation insurance.
Your general liability insurance from this company has a $1 million per occurrence limit with a $1 million-$2 million aggregate. The policy also provides a professional liability and terrorism coverage at an additional cost. NEXT’s professional liability insurance has a $1 million per occurrence limit and a $1 million aggregate.
Best for: Best overall; Fastest general liability insurance for legal consultants
Average cost: $22.43 per month
Our rating: 10/10
Compare legal consultant insurance quotes online
Competitive rates
Cancel your coverage anytime
Online policy management with the MyCoverWallet app
Not an insurance company but an insurance broker
CoverWallet’s legal advisor insurance consists of professional liability, general liability, commercial property, cyber liability, and workers compensation insurance. This company also allows you to bundle general liability and commercial property insurance in a BOP.
This company’s general liability insurance for legal consultants has a $1 million per occurrence limit with a $2 million aggregate. The policy also provides a $1 million advertising injury coverage, $2 million products and completed operations coverage, and $250,000 rented premises liability coverage.
CoverWallet enables you to compare legal consultant insurance quotes before getting covered. Use this to find the best coverage at the most reasonable price.
Best for: Legal consultant insurance online quotes comparison
Average cost: $25 per month
Our rating: 10/10
Compare legal consultant insurance quotes over the phone
A partner of many reputable insurance companies
Responsive customer service
You need to call to get a quote
Tivly's (formerly CommercialInsurance.NET) legal consultant insurance gives you general liability, commercial property, workers' compensation, and other business insurance policies. Many reputable carriers that can’t provide coverage will refer you to this company.
Call Tivly now to compare legal consultant insurance quotes over the phone and get covered.
Best for: Comparing legal consultant insurance quotes over the phone
Average cost: $27 per month
Our rating: 10/10
Sells short-term general liability insurance for legal consultants
You can pause your general liability insurance
Quick to issue estimates of your rates
You can’t get commercial property insurance as a stand-alone policy
Thimble has attorney’s office insurance and you can get covered with this. Policies you can get are general liability, commercial property, and workers compensation insurance.
Your general liability insurance from this company has a $1 million-$2 million per occurrence and aggregate limit. You get to choose how much coverage to get. At an additional cost, you can add a $1 million-$2 million professional liability coverage, and $2,500-$5,000 business equipment coverage to the policy.
Thimble also sells a short-term general liability insurance that lasts for hours, days, weeks, or months.
Best for: On-demand general liability insurance for legal consultants
Average cost: $30 per month
Our rating: 9/10
Get covered regardless of which country you provide legal consulting services
14-day money-back guarantee
Sells the short-term general liability insurance of Thimble
Doesn’t offer cyber liability insurance for legal consultants
Hiscox provides coverage for all businesses involved in legal services such as attorneys, legal consultants, and others. You can get general liability insurance or a business owner’s policy from this company. Hiscox’s general liability insurance for legal consultants provides a $300,000 minimum coverage. You can customize and increase limits up to $2 million.
Best for: General liability insurance with worldwide coverage for legal consultants
Average cost: $29.16 per month
Our rating: 9/10
Policyholders receive 100% paid-in-full coverage for most covered legal matters
Access to more than 13,000 attorneys within ARAG's network with an average of 20 years of experience
A network of attorneys is always a phone call way
DIY Docs available to policyholders making it easy to create 350+ legally valid documents
Policyholders have access to the online Learning Center to view articles, guidebooks, and videos that cover timely legal and financial topics
Class actions, punitive damages, personal injury, and settlement agreements not covered
UltimateAdvisor, administered by ARAG Group, is a professional advisory plan that provides you with access to experienced professionals within the field. ARAG Group provides a toll-free number that connects policyholders to a Telephone Network Attorney. It also has an in-house network of attorneys from across the nation with an average of 18 years of expert counsel.
As a prospective policyholder, you must consider Ultimate Advisor legal insurance as it is a comprehensive plan covering you for all legal and financial situations that you face as you dispense your duties as a legal consultant. You get to choose between a basic plan and ARAG ultimate advisor plus.
Best for: Insurance plan with perks catered to the unique risks of legal consultants
Average cost: $31 per month
Our rating: 9/10
90+ years of experience in the insurance industry
Strong financial standing
Legal consultant insurance is available in all 50 states and international offices in Dublin, London, and Bermuda
While Markel is BBB accredited, there are countless negative reviews from unsatisfied policyholders
Limited product reviews on the official website
Markel has been insuring lawyers and legal consultants for more than 50 years. Its offering includes a professional liability cover targeting firms with five or more employees.
Policyholders can also leverage Markel's broad definition of professional services. Additionally, the insurer offers risk management resources, including a risk management hotline that's available 24/7.
Finally, Markel's claims service is provided by experienced and knowledgeable professionals, which translates to amicable and fast resolution of claims. Markel's legal consultant insurance policy is $35 per month or $420 annually.
Best for: Workers' compensation and business owner's policies for legal consultants
Average cost: $35 per month
Our rating: 8/10
Above average customer satisfaction ratings
Multiple coverage options for legal consultants
Coverage in all 50 states
A+ rating by A.M. Best and Better Business Bureau (BBB)
24/7 phone, online, or mobile app claims reporting
To purchase a cover, you must talk to an agent
If your legal consultancy needs more than $2 million of coverage, The Hartford might not be the insurer for you
The Hartford was founded in 1819, with the primary goal of offering personal and commercial coverage. With time, the insurer has expanded its catalog to include additional coverage options. Policyholders will benefit from The Hartford's strong financial stability and extensive experience within the insurance industry.
Legal consultants get general liability insurance with coverage limits of between $300,000 and $2 million. For legal consultants keen on professional liability insurance, The Hartford is the insurer for you. Their policy ranges from $250,000 to $2 million. You have the option of customizing this professional liability insurance offering to meet your business needs.
This company’s legal consultant insurance is $39 per month or $468.
Best for: Professional liability insurance for legal consultants
Average cost: $39 per month
Our rating: 8/10
20% off on legal consultant insurance
Business equipment, including laptops, phones, and other technology, are covered under the legal consultant cover
Policyholders can access advice whenever needed from AXA's legal and tax helpline
Easy policy delivery
Reports of delayed payout for claims
Less than exemplary customer service
Late reply to inquiries
AXA is a French multinational insurance provider with its headquarters in Paris. Its origins stretch as far back as the 1800s. As for this time, AXA has insured over 700,000 businesses worldwide owing to its strong financial standing and reputation.
The AXA's legal consultant insurance offering includes professional indemnity of up to $5 million and public liability insurance of up to $5 million. If you bring on temporary staff, they will be covered for up to 50 days a year and $250 compensation per day for court attendance. Finally, you get employers' liability insurance of up to $10 million which will be comprehensive enough to cover all legal costs and compensations to keep your business protected.
Best for: Legal consultants looking for a company with excellent risk consulting services
Average cost: $41 per month
Our rating: 8/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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