• Moonlight as part-time Consultants
• Have established Consulting relationships
• General Liability Coverage
• Cyber Liability Coverage
Consultant work can make for a financially and personally rewarding career, but it does come with some risks. In addition to the common risks that most businesses must consider, consultants also have to take into account what could happen if they gave incorrect advice. Consulting insurance can help protect Vermont consultants from many of the common and specific risks they face.
Consulting insurance is specialized commercial insurance for professional consultants. In order to offer consultants multiple protections, these policies typically come as package policies with several coverages bundled together.
Most Vermont professionals who provide consulting services should have consultant insurance in place. This may include both traditional consultants and other professionals who offer clients advice. Some examples of professionals who ought to consider this insurance include those who:
In short, full-time, part-time and retirees who offer consulting services in any form likely can benefit from this type of policy. Anyone who is unsure whether one of these policies is right for them can get advice from an insurance agent who specializes in consultant insurance.
Consultants who are employees of a firm typically receive coverage through the firm's consultant insurance policy. Such coverage is often limited to work done for the firm, however. If consultants do side work on their own, this work is likely not covered unless the consultants have their own policy.
As mentioned, consultant policies typically come with several individual coverages. Some of the protections that consultants may want to look for in a policy include the following :
Vermont businesses that have employees are usually required to carry workers' compensation, which generally protects against workplace injuries and illnesses. Thus, most firms with more than one consultant probably need workers' compensation coverage.
Self-employed consultants may not be legally required to carry workers' compensation, but the coverage might still be advisable. Health insurance sometimes excludes workplace injuries, such as repetitive motion injuries. If a health insurance policy does exclude workplace injuries, workers' compensation could potentially fill in that gap.
When it's needed, workers' compensation might be purchased as part of a consulting policy or separately via a standalone policy.
Premiums for consulting policies are based on multiple factors, and they therefore vary. Some of the items that can influence policy cost are:
An independent insurance agent can help consultants find out how much of ensuring their firm would be. Independent agents aren't connected to any one insurance company, and can quickly compare quotes from multiple insurers.
If you need help with consulting insurance, contact the independent insurance agent at Paige & Campbell Insurance. Our Vermont agents will work closely with you to determine coverage needs, and then they'll show you several options that meet those needs.