Marketing consultant insurance helps protect your marketing, advertising or public relations consultancy from risks not typically covered by general commercial liability policies. Just as medical practitioners need malpractice insurance, you need professional liability coverage for marketing consultants. Marketing consultant insurance is an essential part of your comprehensive business insurance portfolio. If you already have a policy, you should review it periodically to make sure it is up to date. As your business expands, it’s a wise idea to increase your coverage limits and reduce your exposure to claims.
You can get quotes for marketing consultant insurance using the form shown at the top of this page.
Who Needs Professional Liability Insurance for Marketing Consultants?
You need professional liability insurance if:
Your clients require it as a condition of contracting with you
You or your employees provide marketing advice or services that could result in a lawsuit or financial loss for your client due to any alleged error, omission or wrong-doing on your part
You have personal assets that could be jeopardized if a client sued you
What Professional Liability Risks Do Marketing Consultants Face?
Even the best consultants can make mistakes. That’s why many clients who hire marketing consultants insist that they carry professional liability insurance. Any error in judgment on your part can cause your client to suffer financial loss and a potential lawsuit. For example, you or an employee could make a false claim about a product or accidentally disclose confidential information about a client’s business. If the backlash from your actions costs your client loss of income, he or she can say that it’s your fault and sue you for compensation. Without professional liability insurance, you could be forced to sell off all your personal assets to repay your client. If you are sued, you’ll also have to pay for your own defense and any costs associated with a judgment against you. The end result might well be financial disaster for you.
What Does Professional Liability Insurance for Marketing Consultants Cover?
Your professional liability insurance covers financial losses and the costs and damages resulting from law suits up to the limit of your policy. It is a variation of Errors and Omissions insurance (also called E&O) designed specifically for marketing consulting firms. It protects your business and personal assets from claims of wrongful acts (errors, omissions or negligence) committed by you or an employee while performing professional duties. It also covers the losses that happen to others in the exercise of your professional judgment. It is a supplement to (and does not replace) Commercial Liability Insurance, Employment Practices Liability Insurance and Directors and Officers Insurance (if your business requires it).
Affordable Quotes for Marketing Consultant Insurance
Policies for marketing consultant insurance are affordably priced. Quotes will depend on the size and type of your consultancy. Your previous claims history and loss experience, staff turnover, financial results and operating characteristics can also affect your rate.
It pays to shop for E&O insurance. You can get competitive quotes from one or more professional liability insurance companies by completing the form at the top of this page. If you do not wish to purchase coverage now, please leave your policy expiration date on the form provided. When your expiration date is closer, you will be contacted so that you can comparison shop for marketing consultant insurance at that time.
Protect your business from exposure to risk. Get quotes for professional marketing consultant insurance now.