Management consultant insurance
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Rated 4.7/5
Based on 39,253 reviews
Claims paid in 24 hours
For 80% of settled claims
Why do you need management consultant insurance?
Your clients value your expertise in solving their business problems. Expectations are high, and your work is often time-critical and results-oriented. It’s important to manage the risks of your job in management consulting – from disgruntled clients to damaged or stolen laptops. That’s where management consultant insurance comes in.
- You're protected if a client wants to take legal action against you
- Confidence that your business can weather the storm of projects that don’t quite go to plan
- Cover what you need from stolen IT equipment to legal and medical costs
What does business management consultant insurance cover?
We know different management consultants have different business setups, so you decide how to structure your policy. Whether you need to cover yourself and your employees against accidents and mistakes, legal disputes with clients, or loss, theft or damage to your IT equipment, you can tailor your insurance to suit you.
Professional indemnity insurance for management consultants
In case you've made a mistake in your work or provided a service that didn't meet the expected standards.
Public liability insurance for management consultants
In case you accidentally injure someone or damage their property.
Employers’ liability insurance
In case your employee is involved in an accident or mistake while they’re working for you.
Business and office equipment insurance
In case your equipment is lost, stolen, or damaged.
Legal expenses insurance
In case you’re faced with legal costs from running your business.
Personal accident insurance
In case you or anyone you've covered has an accident.
Professional indemnity insurance for management consultants
In case you've made a mistake in your work or provided a service that didn't meet the expected standards.
What’s typically covered by professional indemnity insurance?
Claims against your business for:
- professional negligence
- advice you’ve given that turns out to be incorrect
For example:
- you’ve been contracted to improve a client’s sales performance, but your recommendations actually cause them to lose business
- you’ve promised a client that you'll help them cut their business costs by a specific amount, but you fail to deliver on that agreement
Read more about professional indemnity insurance
Public liability insurance for management consultants
In case you accidentally injure someone or damage their property.
What’s typically covered by public liability insurance for management consultants?
Claims against your business for:
- injury caused by you or an employee
- damage to someone else’s property
- property damage caused by your employee
For example:
- you’re visiting a client at their office and you spill your coffee over their laptop, which stops working as a consequence
- a client comes to your workplace for a meeting, and while walking on a wet floor they slip over and suffer a slipped disc
Read more about public liability insurance
Employers’ liability insurance
In case your employee is involved in an accident or mistake while they’re working for you.
What’s typically covered by employers’ liability insurance?
Claims against your business for:
- your employee injuring themselves or getting sick over the course of their work
**Employers’ liability insurance is required by law if you have people working for you. Without it, you could be fined up to £2,500 a day for each employee.**
For example:
- your employee trips over some pulled-up carpet at your office and breaks their wrist
Employers’ liability insurance is required by law if you have people working for you. Without it, you could be fined up to £2,500 a day for each employee.
Business and office equipment insurance
In case your equipment is lost, stolen, or damaged.
What’s typically covered by business and office equipment insurance?
- loss, damage or theft of the things you use to run your business that you keep at your property, such as your work laptop, work phone, or other business equipment
For example:
- there’s a break-in at your workplace and your tablet is stolen
- there's a water leak at your workplace and your laptop is damaged
What you’ll need additional cover for
- loss, damage or theft of business equipment while it’s elsewhere - this is covered as part of portable equipment insurance
Read more about business and office equipment insurance
Legal expenses insurance
In case you’re faced with legal costs from running your business.
What’s typically covered by legal expenses insurance?
- legal expenses resulting from your day-to-day business activities, like disputes with employees
- the cost of legal claims relating to property damage, nuisance or trespass
- HMRC investigations, and tax and compliance disputes
- includes a tax advice helpline, a 24/7 confidential legal helpline, and crisis PR support to help you protect your business’s reputation
For example:
- if you’re investigated by HMRC (or selected at random for an audit), this cover could help with the tax enquiries – for you and any other directors, as well as for the business
- you need to defend your legal rights following the dismissal of an employee
Read more about legal expenses insurance
Personal accident insurance
In case you or anyone you've covered has an accident.
What’s typically covered by personal accident insurance?
- injury or death at work or outside of work, for anyone covered on the policy
- lost income, medical costs and hospitalisation benefit
For example:
- you dislocate your shoulder falling down the stairs at a networking event, so you have to cancel a client project
- an employee falls over while going for a jog at the weekend and needs physiotherapy
Read more about personal accident insurance
How much does business management consultant insurance cost?
Find out how much you’ll pay by comparing prices from a range of trusted insurers. You choose what goes into your policy, so you only pay for what you need.
Prices start from £5.90 per month
Get your quotes in 7 minutes – prices are guaranteed for 30 days.
Get your tailored quotes in 7 minutes
How we work out example prices We take the highest price from the bottom 10 per cent of all our customers paying in monthly instalments (based on data from 1 July - 31 December 2020). Most customers pay more than this but some pay less.
Example management consultant insurance quotes, real prices
£11.34 /month
£93.42 /year
A part time business management consultant who offers services to small local clients
- 4-5 years' experience
- sole trader
- no employees
- based in Blackburn
Public liability insurance
Not included
Employers’ liability insurance
Not included
Professional indemnity
£100,000
£34.47 /month
£306.43 /year
A medium-sized business management consultant company that works with medium/large businesses
- 5+ years' experience
- limited company
- 3 employees
- based in Ipswich
Public liability insurance
£1,000,000
Employers’ liability insurance
£10,000,000
Professional indemnity
£1,000,000
How we work out example quotes These examples are real quotes from our online system (created 23/09/2020). They’re based on a range of factors, like employees and location. Your own quote will be based on what you tell us about your business. Prices may go up or down from day to day, so the prices you’re quoted may differ to the ones you see here.
What kind of excess should I expect?
An excess is an amount you pay towards any claim you make on your insurance. For example, if your excess is £250 and you make a claim worth £1000, your payout will be a maximum of £750.
| Insurance cover | Lowest excess | Highest excess |
|---|---|---|
| Public liability | £100 | £2500 |
| Employers' liability | No excess | No excess |
| Tools | £60 | £500 |
| Stock | £100 | £500 |
| Business and office equipment | £50 | £750 |
You'll get a complete breakdown of the excesses for each quote when you compare with us. The figures above are for guidance only and any excess applying to your quote may differ. You’ll get a breakdown of the excesses for each quote when you compare with us.
How it works
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We handle claims, so you can get on with business
How do I choose insurance?
Making sure you have the right type and level of business insurance can be the difference between getting a claim paid and having to cover the cost of an expensive accident yourself. Read our tips for guidance on what to consider when buying a policy.
Which type of workers do I need insurance for?
Does management consultant insurance insurance cover my work correctly?
Do I need cover for other types of work?
Which public liability cover limit should I choose?
Which type of workers do I need insurance for?
Employers’ liability insurance is a legal requirement if you employ people.
If you have people working for you, including bona fide subcontractors (BFSC), labour-only subcontractors (LOSC), part-timers, or full-time staff, employers’ liability insurance is required by law.
Read on for our simplified guide to the difference between labour-only subcontractors and bona fide subcontractors.
Does management consultant insurance insurance cover my work correctly?
Make sure you're picking the right cover to protect you properly. It’s important to know that if you have another trade or job, you'll need additional cover. For example, do you need to consider Project management insurance?
Do I need cover for other types of work?
If you provide these services alongside building work, make sure you’re covered:
Other types of insurance
Which public liability cover limit should I choose?
Think about the maximum possible loss your business could face in the event of a claim, and make sure you take legal fees and damages into consideration. You can choose from three levels of coverage – £1 million, £2 million, or up to £5 million.
Talk to an expert
Our team of UK-based insurance experts are here to help, Mon 09.00am - 05.30pm, Tues 09.00am - 05.30pm, Weds 09.00am - 05.30pm, Thurs 09.30am - 05.30pm, Fri 09.00am - 05.30pm, Sat 09.00am - 02.00pm
Call our team
How do claims work?
Unlike price comparison websites, we take the hassle out of claims for you. We know how important it is to get your business back on track quickly – and with a minimum of fuss. That’s why you get access to your dedicated claims any time, day or night. Call them on 0333 207 0560 or claim online. They’ll do their best to be fair and supportive. The figure below is rounded across our range of products. Our claims process may vary for different products and operates on a ‘claim by claim’ basis.
£30 million in claims paid out in 2019
Paying 80% of settled claims within 24 hours in 2019
Example claim
Having management consulting insurance through Simply Business has saved management consultants thousands of pounds when the unexpected happened.
Rukia saved £1,541
Rukia (not her real name) and her business partner were travelling to the U.S. for a business trip. During the trip, her business partner damaged a work laptop and it was no longer usable.
Insurance payout
£1,541
Covering the costs of the injury
Rukia’s costs
£100
The excess amount stated in Rukia’s policy terms
Chosen by 800,000 small businesses
We started out as a team of five back in 2005. We’ve grown since then with 800,000 customers across 1,500 trades now trusting us to provide their business insurance.
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Rated 4.7/5
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Business management consultant insurance FAQs
Whether you’re new to buying business insurance or you’ve been trading for a while, here are the answers to some commonly asked questions about business management consulting insurance. You can also check out our business insurance FAQs.
Yes. It’s important to make sure you have the right type and level of insurance for the different types of work you do. For example, if you’re a plumber, you may also do building work on certain jobs – you’ll need additional cover for this, but you can have it all on the one policy. When you start your quote, you’ll have the option to add another trade or profession to your policy. If you need to add a third trade, give us a call on 0333 0146 683 and one of our insurance experts will help you set up your policy in minutes.
Yes. You may start offering additional services that require you to use different skills or carry out different tasks. If you find yourself in this situation, it’s important to give us a call on 0333 0146 683 to update your policy before you take on this new work. If you don’t have the correct type of cover in place for the work you do, you may be unable to claim on your policy if something goes wrong.
Each insurer looks at CCJs and IVAs differently – some apply stricter rules than others, but having a CCJ or IVA doesn’t necessarily mean you won’t be able to buy insurance.
You can choose the payment type that suits your business and cash flow best. Some customers prefer to pay in one go, while others prefer to pay a regular monthly amount, like you do with lots of other bills. Simply Business offer three ways to pay for your policy:
- one-off credit or debit card payment
- BACS payment
- Direct Debit If you choose to pay by Direct Debit, our credit provider, Premium Credit, pays Simply Business the full amount for your policy up front. You then repay Premium Credit in 10 monthly installments.
If you change your business legal structure from sole trader to limited company mid-way through your policy, give us a call straight away on 0333 0146 683. It’ll only take us a few minutes to cancel your existing policy and replace it with one that correctly covers your new legal structure. It’s worth bearing in mind that your insurer and premium amount may need to change.
This will depend on whether you have employers’ liability insurance in place. Public liability insurance is designed to protect your business against the consequences of legal action brought by members of the public for injuries or damage to their belongings. But when it comes to your employees causing injury or damage, this protection only activates if you also have employers’ liability insurance.
If you employ people, you’re required by law to have employers’ liability insurance.
There’s one exception here. Family businesses that aren’t incorporated as a limited company are not legally required to have employers’ liability insurance. The government defines a “family business” as one where all your employees are closely related to you (as a spouse, civil partner, sibling, child, parent, grandparent, grandchild, step-parent, stepchild or half-sibling). So if you run an unincorporated family business and you choose not to get employers’ liability insurance, it’s important to know that your public liability insurance wouldn’t cover you against damage or injury caused by your team.
We create this content for general information purposes and it should not be taken as advice. Always check policy documentation for details and seek professional advice. Read our full Terms and Conditions
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