For consultants, the right commercial insurance can protect your business from costly claims when your advice, expertise, or services don't go as planned.
September 28, 2026
If you own a consulting business, you sell judgment, not a physical product, so your biggest risk is a client claiming your advice caused a financial loss. General liability won't cover that; it's built for physical harm, like a visitor tripping in your office. The coverage that responds is professional liability, also called errors and omissions (E&O).
Our top three picks, The Hartford, ERGO NEXT, and Hiscox, rose to the top after we compared BestMoney's consultant-ready partners on coverage, cost, and how easy each is to buy.
Five providers made our list, each earning a spot for a different type of consultant. Here's the quick version:
The Hartford: Best for Established Consulting Firms
Hiscox: Best for Customizable & International Coverage
Simply Business: Best for Comparing Quotes
Tivly: Best for Talking to a Live Agent
We evaluated providers using the same BestMoney score framework we apply across our business insurance comparisons, then layered on criteria specific to consulting work. The score blends three inputs: Popularity, drawn from click trends across our comparison pages; Brand Reputation, measured with Semrush visibility data; and a Features & Benefits editorial review by our team.
On top of that, we weighed the factors that matter most for consultants:
E&O availability and limits: Professional liability is the anchor coverage for advice-based work.
GL and BOP bundling: How easily you can add general liability or a business owner's policy.
Purchase method: Fully online, by phone, or through a live agent.
Claims reputation and financial strength: Including AM Best ratings where available.
Certificate-of-insurance (COI) speed: How fast you can prove coverage to a client.
Each pick below follows the same format: an overview, a pros-and-cons table, key features, and a link to our full review, so you can compare like for like.
The Hartford has been writing insurance for more than 200 years, and its main property and casualty companies carry an A+ (Superior) financial strength rating from AM Best, most recently affirmed in July 2026. For a consulting firm that plans to add staff, offices, and bigger clients over time, that combination of longevity and balance-sheet strength is the core of the case.
Where The Hartford separates itself from the rest of this list is breadth. It can write E&O, general liability, a BOP, workers' comp, commercial auto, cyber, and employment practices liability under one carrier, and it lets you add professional liability to an existing Hartford business policy rather than buying it somewhere else. IT consultants also get a dedicated option: The Hartford's FailSafe technology liability suite is built for tech E&O claims, such as a system you installed knocking a client's online ordering offline.
The tradeoff is speed and service. You can start a professional liability quote online, but more complex consulting risks often need a conversation with a specialist before the policy is finalized, which is slower than the buy-in-minutes experience at ERGO NEXT or Hiscox. Customer satisfaction is also middling: The Hartford landed below the study average in J.D. Power's 2025 U.S. Small Commercial Insurance Study.
Pros | Cons |
One carrier can cover your whole firm as it scales, from E&O to workers' comp | Complex professional liability may require a call to finalize |
Tech-specific E&O (FailSafe suite) for IT consultants | Below-average score in J.D. Power's 2025 small commercial study |
A+ (Superior) AM Best rating, affirmed July 2026 | Less self-serve than digital-first options on this list |
Key Features
Coverages: E&O, general liability, BOP, workers' comp, commercial auto, cyber, EPLI
Financial strength: A+ (Superior) from AM Best
Purchase: Online quotes; phone or agent for more complex professional liability
Best fit: Established consulting firms with employees, multiple coverage needs, or IT/tech exposure
Read our full The Hartford review
ERGO NEXT is the digital-first insurer founded in 2016 as NEXT Insurance. Munich Re's ERGO Group completed its $2.6 billion acquisition of the company in July 2025, and NEXT adopted the ERGO NEXT name in January 2026. It now serves more than 750,000 small business owners.
The acquisition largely settles the usual worry about insurtech carriers: whether they'll be financially sound years from now. In September 2025, AM Best upgraded Next Insurance US Company's financial strength rating to A+ (Superior) from A- (Excellent), reflecting its new place inside Munich Re. That puts it on the same rating tier as The Hartford.
The day-to-day appeal is speed. You can quote, buy, and download a certificate of insurance in about 10 minutes without talking to an agent, and you can issue COIs or add a client as an additional insured around the clock at no extra fee, useful when a new client wants proof of coverage before a kickoff call. A bundle discount applies when you combine policies, such as E&O and general liability.
The catch is depth for specialized advisory work. ERGO NEXT's platform is built to serve a very wide range of small businesses, many of them hands-on trades. If your consulting involves complex contracts, technology systems, or high-dollar engagements, Hiscox's profession-specific policies or The Hartford's tech program may be a closer fit.
Pros | Cons |
Fast, self-serve buying and COIs, no agent required | Newer brand name, even though the carrier dates to 2016 |
A+ (Superior) AM Best rating since the Munich Re acquisition | Less specialized fit for high-stakes or complex advisory work |
Key Features
Coverages: E&O, general liability, BOP, workers' comp, commercial auto
Financial strength: A+ (Superior) from AM Best, upgraded September 2025
Purchase: Fully online, self-service, in about 10 minutes
Extras: 24/7 certificates of insurance and additional insureds at no extra fee; bundle discount
Best fit: Solo and freelance consultants who value speed and self-service
When it comes to insurance, one thing freelancers sometimes overlook is that their personal insurance may not cover business activities. That's especially important if they're using a personal vehicle for work or keeping expensive business equipment at home. They should always check their contracts, since clients may require certain types or amounts of coverage before they'll let a freelancer start work, whether it's a graphic design project or a virtual bookkeeping job.
Read our full ERGO NEXT review
Hiscox traces its roots to a Lloyd's of London syndicate dating to 1901. In the U.S., its small-business policies are written by Hiscox Insurance Company Inc., based in Chicago, which holds an A (Excellent) rating from AM Best, reaffirmed in November 2025. Professional liability is its specialty, with coverage tailored to hundreds of professions, making it a natural fit when your main exposure is a client claiming your advice caused a financial loss.
You can buy professional liability, general liability, a BOP, and cyber coverage entirely online, and your certificate of insurance is emailed immediately. Standard limit options go up to $2 million for professional and general liability, and Hiscox will consider higher limits if a client contract requires them. Buying two or more Hiscox policies can save you up to 5%.
Hiscox's professional liability also covers work performed anywhere in the world, as long as the lawsuit is brought in the U.S. or its territories. That's valuable if you take on engagements abroad or travel for clients, but it isn't the same as coverage for a suit filed in a foreign court, so read the territory language if you work with international clients.
The tradeoffs show up outside its core lines and after you buy. Workers' comp and commercial auto are placed through partner carriers, so those claims aren't handled by Hiscox. Cancellations require a phone call, and some customers report slow claims communication. If self-service matters more to you than a profession-specific policy, weigh that against ERGO NEXT.
Pros | Cons |
Built for advice-based work, with worldwide coverage for U.S.-filed suits | Workers' comp and commercial auto come through partner carriers |
A (Excellent) AM Best rating, reaffirmed November 2025 | Cancellations require a call; some reports of slow claims communication |
Buy PL, GL, BOP, and cyber online with instant COIs | Not available in Alaska |
Key Features
Coverages: Professional liability, general liability, BOP, cyber (workers' comp and commercial auto via partners)
Limits: Professional and general liability options up to $2 million; higher limits considered on request
Availability: 49 states and D.C. (not Alaska); save up to 5% when you buy two or more policies
Best fit: Consultants with specialized advisory work, international engagements, or contract-driven limit requirements
Simply Business is an online small-business insurance broker, owned since 2017 by Travelers, one of the largest U.S. commercial insurers. It doesn't write policies itself. Instead, it matches more than 400 types of small businesses with partner carriers such as Travelers, Hiscox, Markel, CNA, and Liberty Mutual.
That model is the point for consultants who aren't sure which single carrier fits their niche. You fill out one application and compare quotes side by side, often within minutes, and licensed agents are available by phone if you'd rather talk through limits or contract requirements.
Because it's a broker and not the insurer, your ongoing relationship, including claims and most renewal decisions, sits with whichever carrier you choose. Which carriers you see also depends on your profession and state, so the lineup won't be the same for every consultant.
Pros | Cons |
Compares several A-rated carriers from one application | You file claims with, and are serviced by, the underlying carrier |
Fast turnaround, with licensed phone agents available | Carrier options vary by profession and state |
Key Features
Model: Online broker across multiple carriers, including Travelers, Hiscox, Markel, CNA, and Liberty Mutual
Coverages: E&O, general liability, BOP, workers' comp (varies by carrier)
Best fit: Consultants who want to compare several carriers before committing to one
Read our full Simply Business review
Tivly, formerly CommercialInsurance.net, is an Oklahoma City-based matching service that has been operating since 2009 and has been BBB-accredited since 2010. Unlike Simply Business, it doesn't put quotes on a screen for you to sort through. A short intake call matches you with a licensed agent from its partner network of carriers, agents, and brokers, including Progressive, The Hartford, and Liberty Mutual.
That hands-on approach is the draw for consultants with harder-to-place or non-standard practices. You explain your work once, and the agent shops it, which can surface options a self-serve platform might miss.
The tradeoff is speed and consistency. There's no instant online quote, your timeline depends on agent availability, and because the agent you're matched with works for a partner firm, service quality varies. Some customers report trouble reaching helpful support after the match. Discounts also depend on the carrier you end up with rather than following a set structure.
Pros | Cons |
Matched with a live, licensed agent, not a quote screen | No instant online quote or checkout |
Shops a large network of partner carriers, agents, and brokers | Service depends on the partner agent you're matched with |
BBB-accredited since 2010 | Discounts vary by carrier |
Key Features
Model: Live agent-matching service; Tivly's site cites more than 450 partners
Coverages: E&O, general liability, BOP, workers' comp, and more via matched carriers
Purchase: By phone with a licensed agent after a short intake call
Best fit: Consultants with complex or non-standard practices who want a person to walk through options
You choose the right consulting coverage by matching a few key decisions to how you actually work: which policies you need, how much coverage to buy, and what your client contracts require. The sections below walk through each so you can shop the providers above with confidence.
Most consultants need professional liability (E&O) first, with general liability close behind. The two cover different risks and aren't interchangeable.
Professional liability covers financial harm your advice or work causes a client, such as negligence, misrepresentation, or inaccurate work. General liability handles bodily injury, property damage, and advertising injury from non-professional acts, and standard commercial general liability forms exclude professional liability.
For example: A client claims your strategy recommendation cost them revenue and sues for negligence. General liability wouldn't respond, because there's no bodily injury or property damage. E&O is the policy that pays for your defense and any settlement.
Most consultant E&O policies are claims-made, meaning the policy must be active both when the incident happens and when the claim is filed. An occurrence policy, by contrast, covers events during the policy period even if the claim comes later.
Two terms decide whether you're actually covered:
Retroactive date: When claims-made coverage begins. Incidents before it aren't covered.
Extended reporting period ("tail"): Lets you report claims after the policy ends.
“For consultants with claims-made professional liability policies, continuity of coverage is especially important. Professional liability claims can arise months or even years after the work was completed, even for jobs that you thought went smoothly. Consultants should read their policy fine print to understand what will happen if they switch insurers or cancel their policy, as that can impact if and when retroactive claims can be filed,” says Dahlgren.
It also pays to size your limits to your worst-case client, not your average one. Small businesses carry an outsized share of legal costs: a U.S. Chamber Institute for Legal Reform study found businesses earning $10 million or less bore about $160 billion in commercial tort costs in 2021, 48% of the national total.
Many clients won't sign a contract until you hand over a certificate of insurance (COI), and some will ask to be named on your policy. A COI is a standardized form that summarizes your coverage; it doesn't grant or change coverage. Beyond the certificate, watch for three contract terms:
Additional insured: Extends your coverage to the client for claims arising from your work. Most often requested on general liability, though some E&O policies allow it.
Waiver of subrogation: Your insurer gives up its right to recover from the client after paying a claim.
Primary and non-contributory: Your policy pays first, without seeking contribution from the client's insurer.
Contracts commonly reference $1 million per occurrence and $2 million aggregate for general liability, which is the structure most consultants buy. It isn't a legal mandate, though, and actual requirements vary by client.
“One of the biggest mistakes when buying insurance is waiting until a client asks for a certificate of insurance. We see consultants who don't think about insurance until they've landed a contract and suddenly discover they need specific coverage before they can start the job. That's not the best time to be shopping for a policy. Looking at insurance earlier gives consultants time to understand what coverage they actually need, compare options, and make sure they're ready when a client asks for proof of insurance,” says Dahlgren.
Small consulting businesses typically pay about $55–$65 per month for E&O and about $29–$32 per month for general liability, based on broker purchasing data. These are platform-customer figures skewed toward small, newer businesses, not market-wide averages.
Coverage | Typical Monthly Cost (Broker Data) | Limits Consultants Commonly Choose |
Errors & omissions (E&O) | ~$55–$65/month | $1M per occurrence / $1M aggregate |
General liability | ~$29–$32/month | $1M per occurrence / $2M aggregate |
Business owner's policy (BOP) | ~$42–$61/month | Varies by carrier |
Tech E&O + cyber (IT consultants) | ~$65/month | $1M / $1M |
Skip E&O to save $55 to $65 a month, and a single negligence claim can leave you paying attorney fees, expert costs, and a settlement entirely out of pocket.
Your consulting type dictates which add-ons make sense. A few common scenarios:
IT and data consultants: Consider a combined tech E&O and cyber policy. It averages about $65 a month and usually costs less than buying the two separately.
Consultants who drive to clients: Look at commercial auto insurance, since personal auto policies may not cover business use.
Consultants with employees: Most states require workers' compensation insurance once you hire, though thresholds vary. Solo owners are often exempt; confirm with your state insurance department.
This guide is for consultants deciding what coverage to buy and which provider fits. You'll get the most from it if you're:
A solo or freelance consultant prompted by a new client contract
An established firm with employees or subcontractors to protect
An IT or data-handling consultant weighing cyber and tech E&O
A consultant with international clients
A consultant who drives to client sites
For most consultants, yes. It's the anchor coverage because it responds when a client claims your advice caused a financial loss, a risk general liability doesn't cover.
General liability covers third-party claims of bodily injury and property damage, while professional liability (E&O) covers financial harm arising from your professional advice or work. Many consultants carry both.
Broker data puts E&O at roughly $55–$65 per month and general liability at roughly $29–$32 per month for small consulting businesses, though your price depends on revenue, services, location, and limits.
Clients often ask for a certificate of insurance and may request additional-insured status or a waiver of subrogation. See the client-contract section above for what each term means.
Usually not on its own. A BOP bundles general liability with commercial property coverage, but it excludes professional liability, which you'll need to add or buy separately.
Elizabeth Rivelli is a business finance and insurance expert at BestMoney.com with over five years of experience covering car, home, life, and health insurance. She has contributed to major outlets such as Investopedia, Forbes, CNN Underscored, U.S. News & World Report, and Bankrate. Elizabeth also partners with insurance companies to provide readers with practical insights into industry trends.
