Consulting Insurance in Massachusetts

What is Consulting Insurance?

Working as a consultant can be challenging, rewarding and profitable, but it also comes with some potential risk. In addition to common perils that many businesses and professionals are exposed to, consultants also need to consider what might happen if a client tries to hold them liable for an incident or loss. Consulting insurance policies help protect Massachusetts consultants from a range of both common and consulting-specific risks.

Consulting insurance policies are specialized commercial policies that uniquely meet the needs of professionals who work as consultants. Most of these policies come with multiple coverages, which allow the policies to provide several protections.

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What Massachusetts Professionals is Consultant Insurance Right For?

Broadly speaking, most professionals who work as consultants in Massachusetts ought to carry consultant insurance. This sometimes includes professionals who do the following:

  • Leave a place of employment to become a self-employed consultant
  • Are employed in a traditional position but do periodic consulting work
  • Have established themselves as long-term consultants
  • Retire and consult occasionally when called upon
  • Run a consulting firm that has employees

In firms, the firm often purchases a policy that offers coverage to all salaried consultants.

While most everyone in consulting should have insurance, this doesn’t necessarily mean that every consultant needs the same policy. Consultants should look for a policy that’s tailored to the risks associated with their particular field, as this will likely offer the best protection for them. An insurance agent who specializes in consultant insurance can help find specialized policies.

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What Coverages Do Consultant Insurance Policies Provide?

Consultant policies may offer several different liability and property coverages within them. Some of the more common protections that these policies make available are:

Should Consultants Have Workers Compensation Coverage?

Workers compensation Coverage normally extends coverage to workplace injuries and illnesses that employees of a business suffer. Massachusetts state law usually requires businesses that have employees to provide this coverage, and consultants that work for themselves might still want the protection in case they’re hurt on the job. 

Even though an injury might seem unlikely, accidents happen and repetitive motion injuries are fairly common. Workers may cover both acute injuries and ones that develop over time, depending on the specifics of an injury and terms within a coverage.

When it’s needed, workers compensation might be purchased as part of a consultant policy or through an altogether separate policy. An insurance agent who’s familiar with consultant policies can likely also assist with workers compensation policies.

Are Consulting Policies Expensive?

Premiums for consulting policies are based on several factors and regularly vary as a result. Some of the items that can influence how much a consultant policy costs include:

  • Where a consultant or firm is located
  • What type of consulting a consultant or firm does
  • How many employees a consulting firm has
  • What coverages are chosen for a policy

Even with the variance that exists among policy premiums, coverage tends to be affordable for most consultants. Paying for a policy is almost certainly costs less than what facing a major claim without any insurance in place could.

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How Can Consultants in Massachusetts Get Consulting Insurance?

For help finding consulting insurance, contact the independent Massachusetts insurance agents of Roger Butler Insurance. Our agents have helped many professionals, and we have the expertise necessary to assist you in selecting a policy that provides robust protection.

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