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What types of insurance do HR consultants need?
These policies cover common risks of human resources consulting.
General liability insurance
This policy covers basic HR consultant risks, such as client injury, property damage, and slander. Bundle with property insurance for savings in a business owner’s policy.
BEST FOR
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Slip-and-fall accidents
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Damaged customer property
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Libel or slander lawsuits
Professional liability insurance
This policy, also called errors and omissions insurance, can help cover legal expenses if an HR consultant is sued for a mistake or accused of professional negligence.
BEST FOR
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HR consulting mistakes and oversights
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Advice that causes financial loss
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Work errors and oversights
Workers’ compensation insurance
Workers’ compensation insurance is required in almost every state for HR consulting businesses that have employees. It can cover medical bills for work-related injuries.
BEST FOR
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Employee medical expenses
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Missed wages
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Legal costs
Business owner’s policy
A business owner’s policy, or BOP, combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately.
BEST FOR
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Customer injuries
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Damaged business property
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Business interruption incidents
How much does HR consultant insurance cost?
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Several factors will have an impact on insurance costs, including:
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Human resource consulting services offered
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Business equipment and property
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Revenue
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Location
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Number of employees
Why do HR consultants need insurance?
HR consultants are in demand as companies across the spectrum seek help in improving employee relations and company culture. But more clients also means more risk for your business. Small business insurance tailored for human resources consultants protects against losses and expenses from injuries, mistakes that lead to financial loss, and other risks
