Marketing Consultant Insurance: Cost & Quotes from $11/month

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Businesses, regardless of the type, make money by selling services or goods to consumers or other businesses. And so aside from the management of finances, business owners have to solve the problem of how to make products and services more accessible to consumers. Marketing consultants solve this by recognizing market trends, analyzing data, and crafting strategies.

Marketing consultants, like you, are a specific type of business consultant. You can get insured through a business consultant insurance package. However, only a marketing consultant insurance program caters to the unique risks you face. From this, you can avail policies that grant protection against negligence claims, bodily injury claims, and property damage claims. Read this guide to know the cost of premiums, the best companies, and how each type of business insurance for marketing consultants works.

Marketing Consultant Liability Insurance

A professional liability policy is the most important type of marketing consultant liability insurance to have. But note that general liability and excess liability insurance are useful too. Let’s discuss how these policies work. 

Professional Indemnity Insurance For Marketing Consultants

Use the quotes comparison table above to see which carrier offers the best professional liability insurance for marketing consultants. 

So earlier, why did we say that a professional indemnity policy is the most important type of marketing consultant liability insurance?
Think about it, your analysis and strategies might not yield the expected results. It’s also possible for you to commit mistakes and oversights. All of these issues can cause clients to lose money. 

Of course, clients can file a claim if their business experiences a tragic downturn because of your fault. Remember that the ventures you’re working with have the resources to file a professional liability lawsuit, which could cost thousands and even millions of dollars. 

Professional indemnity insurance for marketing consultants, also called professional liability insurance,  will cover settlements, legal expenses, and court judgments if clients are unhappy with your services and files a claim for:

• Failure to execute a plan

• Inaccurate and erroneous analysis of marketing trends

• Inaccurate advice

• Executing the wrong marketing strategy

• Failure to submit strategies and reports on time

Marketing consultant insurance bundles offer a professional liability policy as an occurrence or claims-made coverage. 

General Liability Insurance For Marketing Consultants

Use the quotes comparison table above to see which companies offer the best general liability insurance for marketing consultants. 

Clients and visitors might demand compensation if they sustain injuries or property damage while at your office during a meeting. And so, it’s good to include a general liability policy in your marketing consulting insurance bundle. 

A general liability policy is the marketing consultant liability insurance that will wrap things up and mitigate financial losses if third parties experience an accident while in the premises of your office. Here are some situations where this insurance can provide coverage:

• Third parties fall from the stairs of your office

• Third parties slip and fall while in the premises of your office

• Third parties trip over a cord while moving in your office

• You mishandled the client’s laptop during the meeting and it got broken

So what costs are covered? Just like the general liability policy of business consultant insurance programs, the general liability policy of marketing consultant insurance grants coverage for these expenses:

• Medical treatment of the claimant

• Reimbursement for the damaged property of the claimant

• Legal fees

• Court judgments

Excess Liability Insurance For Marketing Consultants

A claim might be too costly for your general liability policy or professional liability policy to handle. And so, you’ll need excess liability insurance. Excess liability insurance, which might be an inclusion in management consultant insurance bundles, will cover the remaining costs if your liability coverages can’t fully cover a claim.

Commercial Property Insurance For Marketing Consultants 

Use the quotes comparison table above to see which companies offer the best commercial property insurance for marketing consultants. 

The office is an integral part of your operations as a marketing consultant. It’s where you hold meetings with clients, archive papers and important records, and store valuable equipment. You’ll lose a lot if something happens to the office. And so, consider purchasing commercial property insurance for marketing consultants. 

will cover the replacement cost or actual cash value of your office if it gets damaged or destroyed because of:

• Fire

• Theft

• Vandalism

• Civil commotion

• Malicious mischief

• Sinkhole collapse

• Volcanic action

• Falling objects

• Aircraft

• Impact

• Vehicles

Remember that the coverage of commercial property insurance doesn’t only apply to your office. This insurance will also reimburse losses if something happens to valuable papers and records, bulletin boards, computers, HVAC, and other valuables while on the business premises. 

Business Owner’s Policy For Marketing Consultants 

Use the quotes comparison table above to see which insurance company offers the best business owner’s policy for marketing consultants. 

A business owner’s policy is a fusion of commercial property insurance and general liability insurance. 

Consider purchasing this coverage if you’re tight on budget. At a price cheaper than when you bought general liability and commercial property insurance separately, this insurance grants coverage for both liability claims and business property damage or loss. 

Workers Compensation Insurance For Marketing Consultants 

Your part-time and full-time employees can get injured or develop an illness. For example, they can slip and fall because of a spilled liquid on the floor. Accidents might happen while they’re outside running an errand for your business. Of course, office work can contribute to back pains, neck pains, and eye strain. 

Purchase workers compensation insurance so that you can give the appropriate benefits without incurring financial losses when an employee sustains a work-related injury or disease. Workers' compensation insurance is underwritten to cover your employee’s

• EMT services fees

• Medical treatment

• Hospitalization

• Medication

• Rehabilitation and retraining

• Lost wages

• Funeral expenses and allowance to dependents in case of death

An employer’s liability coverage might be automatically included in the worker's compensation policy of marketing consultant insurance bundles. You can use this to cover settlements, legal expenses, and court judgments if an employee sues you for negligence after a work-related injury or disease. 

Cyber Insurance For Marketing Consultants 

A breach can happen to the computer where you’re storing records, client data, marketing analytics, and other important information. Cyber insurance can help in this situation. 

Cyber insurance protects you against data breaches, malware, ransomware, and cyber security errors. You can use this insurance to cover the expenses for:

• Customer notification and other public relations services

• Professional services for containing the cyber attack

• Professional services for recovering lost data

• Legal expenses if affected clients sue you

Marketing Consultant Insurance Cost 

The average marketing consultant insurance cost is $35 per month or $420 per year for a $1 million general liability policy. Factors that affect the cost of premiums are claims history, the clients you work with, business experience, number of employees, annual revenues, annual payroll, and location. The second table below shows how much marketing consultant insurance companies charge for their $1 million general liability policy.