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

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As a marketing consultant, your clients expect you to deliver big wins. They expect your advice to help them make money, turn a profit, and close on lots of sales. Your job as a marketing consultant is to get your client's brand heard as loud and clear with market-savvy strategies.

In the course of your business, a variety of risks can occur. For starters, it is a safe assumption that you can't possibly make all your clients happy. There's quite the likelihood that you'll end up with a few disgruntled clients. The latter could cite missed deadlines, miscommunications, misrepresentation, or cost overruns. Further, dissatisfied clients might feel that you failed to deliver on expectations or that the project was rife with strategy and planning issues.

On the other hand, you are particularly susceptible to data breaches. As a consultant, threat actors assume, and rightly so, that you have access to essential data. Naturally, this makes you a mark. And while you might implement best cybersecurity practices, chances are that you can never really be safe.

A safe assumption is that in dispensing your trade, you've developed a strategy you repeatedly employ to solve common problems. This in-house knowledge is considered to be intellectual property. The latter could very well be your competitive edge. This exposes said information to the risk of theft and infringement.

The aforementioned represent a few of the risks your marketing consultancy is exposed to. Take a proactive role in protecting your business from said risks. That's where marketing consultant insurance comes in.

The marketing consultant insurance helps you protect your work, reputation, and bank balance. Since it is not legally mandated, you might be wondering why you must invest in marketing consultant insurance.

To start with, most clients require proof of marketing consultant insurance as a condition of contracting with you. Besides, some of the advice or services you offer to your clients might result in financial loss. The most likely outcome of such a scenario is often a lawsuit where the client alleges errors, omissions, or wrongdoing on your part. Further, chances are that you have personal assets that would otherwise be jeopardized if the client pursued the lawsuit. Overall, even if you are the best at what you do, there are chances you are going to make a mistake. To avoid the backlash that might ensue, it is simply best that you look into marketing consulting insurance.

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Marketing Consultant Liability Insurance 

Let's look at a real-life example. You operate from an office where your clients periodically visit. In the event that a member of the public is injured or sustains property damage as a result of your business activities, the public liability insurance will sufficiently cover all arising costs. 

It is prudent to mention that if you solely run the marketing consultancy, you are legally considered responsible, both legally and financially, for any damages caused by the business. The marketing consultant liability insurance ensures that you do not end up paying out of pocket for any of the arising costs. Consider it somewhat of a safety net.  

Note that your professional liability policy can potentially extend to cover your employees and independent contractors faced with claims of negligence, inaccuracies, failure to perform, or incorrect advice. 

With general liability insurance, you essentially purchase protection for you and your business against allegations of bodily injury or property damage by a third party. Further, if you are accused of libel, slander, or defamation, among others, the general liability policy will meet the rising costs. 


Professional Indemnity Insurance for Marketing Consultants 

As highlighted, even the best marketing consultants are prone to mistakes. Seeing as your marketing consultancy is only as successful as your reputation, you ought to ensure that said mistakes don't make a dent. 

As such, you ought to carry professional liability insurance for marketing consultants. The latter ensures that your mistakes don't affect your finances or your reputation. Essentially, the policy acts as a cover against the backlash of your actions, especially those that result in the client losing business or income. 

You want to have your PI protection cover for: 

  • Breaches of confidentiality 

  • Negligence 

  • Intellectual property infringement 

  • Defamation 

Professional indemnity insurance will cover all the financial losses and costs arising from the aforementioned. You are assured that your business and personal assets are protected even if claims of wrongful acts are brought against your firm. 

As an additional perk, the policy covers the losses that might occur as a result of you exercising your professional duties. 

Note that depending on the discussion and ensuing arrangement you have with your career of choice, you might have the marketing consultant insurance supplement your commercial liability insurance, employment practices liability insurance, and directors and officers insurance. 

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Business Property Insurance for Marketing Consultants

Additionally, consider getting business property insurance. Look at it this way, any harm to your business assets could potentially lead to business closure. If your assets were to be stolen or destroyed by fire or a storm, the cover will cushion you and prevent interruption to your business. 

 

Cyber Liability Insurance for Marketing Consultants 

Finally, you are likely going to be handling personal information and other sensitive data. If these were to be damaged, you want to have a cyber liability insurance policy in place. The cover comes in to assist you with any inadvertent loss or leak of a client's personal information. Besides, it could pay for the ransom from a ransomware attack; cover the business interruption and costs arising from event mitigation. 

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Marketing Consultant Insurance Cost 

The amount you pay in premiums for your marketing consultant insurance is affected by several factors, including the size of your marketing consultant firm and its risks. 

Marketing consultants pay $35 per month or $420 per year for a $1 million general liability insurance.  

On an additional note, here’s a table showing the rates of the best marketing consultant insurance companies. 


Cost per MonthCost per YearBest for
NEXT$18$216Best overall; Fastest general liability insurance for marketing consultants
CoverWallet$22.41$268.92Marketing consultant insurance quotes comparison online
CommercialInsurance.Net$26$312Comparing marketing consultant insurance quotes over the phone
Hiscox$29.16$349.92Marketing consultants who provide services locally and abroad
Thimble$34.08$408.96On-demand marketing consultant insurance policies
Markel$37$444Workers' compensation and business owner's policies

 

 

More Words On The Cost Of Insurance for Marketing Consultants 

For professional liability insurance, marketing consultants pay $54 per month or $648 per year. This policy has a limit of $1 million per occurrence, with the policy deductibles being $1,000. 

The cost of workers' compensation insurance for a marketing consultant is $46 per month or $552 per year. This cost will vary significantly depending on which state you operate in and the nature of your operations. 

You will pay $49 per month or $588 per year for a business owner's policy. This business owner's policy costs for marketing consultants will vary depending on your location, operations, and the value of your business property. 

Finally, if you invest in cyber liability insurance for marketing consultants, you will pay $152 per month or $1,824 per year.  

If you are on the lookout for cheap marketing consultant insurance quotes, it would be best if you source for multiple free quotes from different companies. Do this with our online quotes comparison tool. Click the “Get Quotes” button to start.

Compare Cheap Marketing Consultant Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Marketing Consultant Insurance Companies 

After an evaluation of insurance providers offering marketing consultant insurance, here's the list of the best marketing consultant insurance companies in the market today. 


NEXT Marketing Consultant Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you bundle marketing consultant insurance policies

Cons

  • Couldn’t find any

NEXT offers workers compensation insurance, general liability insurance, commercial property insurance, and professional liability insurance for marketing consultants. 

This company’s general liability insurance for marketing consultants provides a $300,000 minimum coverage. However, this can be customized so that you enjoy $1 million coverage for each claim. 

If you customize, NEXT also adds the language of professional liability insurance to the language of general liability insurance. You get $1 million coverage for each claim of errors and omissions. 

NEXT’s commercial property insurance provides a minimum $115,000 building coverage and $25,000 contents coverage. But still, it’s possible for you to get up to $1 million from the policy. 

Best for: Best overall; Fastest general liability insurance for marketing consultants

Average cost: $18 per month

Our rating: 10/10

 

CoverWallet Marketing Consultant Insurance

Pros

  • Compare marketing consultant insurance quotes online

  • Stable rates

  • No hidden charges

  • Cancel your policy anytime

  • Online policy management and payment of premiums via the MyCoverWallet app

Cons

  • Not an insurance company but an insurance broker 

CoverWallet’s marketing consultant insurance primarily offers professional liability and general liability insurance. 

This company’s general liability insurance for marketing consultants has a $1 million per occurrence limit with a $2 million aggregate. Non-owned/hired auto coverage is included as an additional coverage. 

As for CoverWallet’s professional liability insurance for marketing consultants, it offers a $1 million-$2 million per occurrence limit with a $2 million aggregate. 

Workers compensation insurance, cyber liability insurance, commercial auto insurance, and commercial property insurance can be added as optional policies to marketing consultant insurance at an additional cost. 

Note that CoverWallet has an online quotes comparison tool you can use to compare the rates and buy the marketing consultant insurance quotes it sells. 

Best for: Marketing consultant insurance quotes comparison online

Average cost: $22.41 per month

Our rating: 10/10


CommercialInsurance.Net Marketing Consultant Insurance

Pros

  • Compare marketing consultant insurance quotes over the phone

  • Responsive customer service

  • Call and get covered fast

  • Refers you to partners if you’re not a match

Cons

  • Doesn’t issue online quotes

CommercialInsurance.Net underwrites workers compensation, commercial property, general liability, cyber liability, and other insurance products for marketing consultants. But note that you need to call in order to know if you can get covered. 

If your profile doesn’t match CommercialInsurance.Net’s underwriting preference, it will take you to partners such as NEXT. This saves you the trouble of spending more time looking for other companies that can provide coverage. 

Call CommercialInsurance.Net now to compare marketing consultant insurance quotes over the phone. 

Best for: Comparing marketing consultant insurance quotes over the phone 

Average cost: $26 per month

Our rating: 10/10


Hiscox Marketing Consultant Insurance

Pros

  • Worldwide coverage

  • General liability insurance comes with terrorism coverage

  • 14-day money back guarantee

  • Provides you with claims resources

  • In-house team of underwriters

Cons

  • Cyber liability insurance limits is very limited

Hiscox’s marketing consultant insurance offers general liability, cyber liability, and professional liability insurance. 

For marketing consultants, Hiscox offers a general liability insurance that has a $2 million per occurrence limit without any deductibles. You can customize to  get lesser coverage. It even allows you to enjoy terrorism coverage and the naming of additional insureds. 

Hiscox’s professional liability insurance provides $1 million for each claim of errors and omissions. Note that copyright infringement and other advertising injuries are also covered. 

Last but not least is cyber liability insurance. This provides $250,000 coverage for each cyber liability claim. You can choose to upgrade this insurance by adding media liability coverage to its language. 

Best for: Marketing consultants who provides services locally and abroad

Average cost: $29.16 per month

Our rating: 10/10

 

Thimble Marketing Consultant Insurance 

Pros

  • Thimble offers flexible policies for small business owners

  • Policyholders have the option of a scalable plan model

  • Fast and efficient quote process 

  • Thimble has A-ratings from both AM Best and Standard and Poor's

  • Affordable pricing 

  • Quickness of quotes 

Cons

  • Policyholders might overpay for policies that they ultimately don't need 

  • General liability insurance is only available in 48 states and the District of Columbia. It is not yet available in the states of New York and Washington 

Thimble seems to have disrupted the small business insurance category by offering coverage on demand. You want to take advantage of this to get a custom marketing consultant insurance specialized to your business needs. Marketing consultant insurance offered by Thimble includes both general liability insurance and professional liability insurance. 

If you are keen on a digital experience, you must probably take advantage of Thimble's website. The latter is not overwhelming and is organized in a user-friendly fashion. On the website, you can get quotes, purchase a policy and file a claim. Policyholders also have a mobile application. You can also manage your policy via phone. 

The cost of your marketing consultant insurance policy from Thimble will depend on your zip code, coverage limit, size of your team, and the length of coverage you are looking to purchase. Once you purchase the policy, you will instantly get a certificate of insurance. You can add and modify your additional insureds as many times as necessary. 

Best for: On-demand marketing consultant insurance policies

Average cost: $34.08 per month 

Our rating: 9/10

 

Markel Marketing Consultant Insurance

Pros

  • Well-established carrier with 90+ years of experience in the insurance industry 

  • Highly rated by A.M. Best and the BBB

  • 24/7 claims reporting via phone, mail, and online

  • Strong financial rating 

  • Marketing consultant insurance is available in all 50 states and includes international operations in Bermuda, Dublin, and London 

Cons

  • While Markel is BBB accredited, there are many negative reviews from unsatisfied customers

  • Limited product reviews on the official website 

Markel is a global holding company for insurance, reinsurance and investment operations. Founded in 1930, Markel has 90 years of experience in the insurance industry. It is only in the last 25 years that Markel has begun insuring professionals.  

Be sure to combine marketing insurance policies in a business owner's policy. In doing so, you'll earn a 10% multi-policy discount. You also can add Markel's Specialty's commercial umbrella liability insurance policy to the BOP policy, which provides additional protection. 

Markel offers policyholders numerous ways to earn a discount. A discount you must be garnering for is the diminishing deductible. You get this discount if you do not file any claim during the period when the policy is active. 

Best for: Workers' compensation and business owner's policies 

Average cost: $37 per month 

Our rating: 8/10


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