Insurance for Consultants

Protect your consulting business with peace of mind

Insurance for Consultants

As a consultant, you provide clients professional help, consulting service, or advice; however, you’re exposed to risks. 

Imagine being caught in a legal battle with a client alleging your advice harmed them. The subsequent financial loss from claims could be overwhelming.

Sparrow Insurance can assist with many types of consultancies, you will need to contact Sparrow Insurance directly to ensure your type of consultancy can be covered.

What type of insurance do consultants need?

For a consultant, insurance is vital since it keeps you ready for any potential claim and unexpected incidents. Professional indemnity insurance and public liability insurance are the basic covers required to protect you and your business.

Professional Indemnity Insurance

If a client claims you’ve been negligent with your advice, professional indemnity insurance becomes vital. When a client sues you for allegedly omitting pertinent information from your advice, causing their business to potentially fail, this policy may cover legal costs associated with responding to the claim.

Public Liability Insurance

Public liability insurance can cover third-party injury claims, like when a client or member of the public holds you liable for an injury from incidents like tripping in your office.

What other important policies do you need?

There will be other risks related to your professional service, so you may need other policies apart from professional indemnity and public liability. A business insurance policy and other types of, help ease your worries.

Business Insurance

This protects your business, covering equipment and property damage from accidents, losses due to theft, fire, glass but not limited to.

Tax Audit Insurance

Whether you run a small consultancy firm or work as an individual consultant. This insurance will cover your business for tax auditing by the ATO.

Management Liability

Management Liability insurance is specifically for private companies and covers claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination actions), crime (theft by employees or third parties), tax audit and statutory fines and penalties.

Cyber Insurance

The services you provide could involve keeping digital or online records of clients’ personal information, exposing you to the risks of a data breach. Cyber insurance may protect you recover data loss from theft.

Why does a consultant need insurance?

In consulting businesses, services include professional advice to help clients do business, and it’s always possible for mistakes to occur. Consider insurance cover if you’re alleged of the following:

Why consultants do choose Sparrow Insurance

Deciding a coverage could be taxing, but Sparrow Insurance, could make obtaining insurance covers easy for you with the following:

Talk to Sparrow Insurance anytime. We are just a phone call away.

Protect your practice and your business. Call us now!

FAQs

1. How much coverage do I need?

Your coverage relies on how much liability risk to the business.

2. Do consultants in Australia need public liability insurance?

This type of insurance is required for any business in Australia.