Insurance for Consultants

Specialist cover for a wide range of consultancy professions from £5 a month*

  • Fast, easy online quote in 90 seconds

  • Interest free direct debit

  • No hidden fees or cancellation charges

Consultancy insurance should be a key consideration for anyone working providing advice or professional consulting services to their clients.

Running your own business can be rewarding, but it also comes with associated risks.  Even with the best of intentions, advising clients doesn't always go smoothly. An error in a piece of work for a client, an accident at the office, or the theft of a computer could put your business under severe financial strain. Our consultant insurance can cover you against such unforeseen events, giving you peace of mind that if something unexpected were to happen, you will be covered.

What is consultant insurance?

As a consultant, you’re hired to provide professional advice to help your clients improve their business. Clients can sometimes be demanding, as they’re expecting  positive outcomes off the back of your recommendations. However, sometimes things don’t go to plan and whether it’s justified or not, you could end up potentially facing a lawsuit.

This is where insurance comes in as a safety net. Consultancy insurance is designed to cover the potential risks you face as a consultant. Products can be added or removed and tailored to meet your specific needs.

If you’re a business consultant who offers cost effective solutions to streamline an outdated supply chain and costs rise following your recommendations, Management & Business Consultant insurance can protect you from any legal fees and compensation payments that could arise. Similarly, Software Consultant insurance can cover you for a software recommendation that turns out to not be fit for purpose, and HR Consultant insurance for implementing human resources policies that don’t meet legal requirements.

With over 25 years’ experience, we specialise in offering insurance for the self-employed. Our insurance for consultants can take care of your risks, leaving you to do what you do best: being an expert in your field.

How much does consultant insurance cost?

Costs for consultancy insurance can vary. At Markel Direct, we offer consultancy insurance from £5 a month, for £1m worth of public liability cover*. Consultancy insurance is not a one-size-fits-all product.. Whether it’s Marketing Consultant insurance for yourself or IT Consultant insurance for a team of consultants, our policies are personalised for you, so the price of your policy will reflect the level of consultant insurance coverage you require.

Our simple quote system will ask about your business and build a policy around it, offering you covers that may be of interest. Cover starts at £5 a month* with the option to pay for your policy over 10 interest free instalments, and you can choose to buy all or just some of the covers quoted, so you will only ever pay for the cover you want.

When you insure with Markel Direct, you get to access unique business services designed to make your life easier, including:

  • 24-hour legal advice helpline - Speak to a qualified solicitor at no additional cost for any business-related legal queries, such as how to handle a difficult client.
  • Markel Business Hub - Access an award-winning online resource of legal and business guides, templates and content written and created by our team of expert solicitors.
  • Fee dispute service - Client not paying? Get specialist legal guidance and support on fee dispute issues via a helpline operated by one of the UK's leading law firms.
  • Discounted IR35 contract reviews - If, like many consultants, you’re worried whether you are operating outside of IR35, receive an exclusive discount on IR35 contract reviews from Markel Tax (a Markel company).
  •  Public relations crisis management service - If your business is at risk due to a public relations disaster get help from our specialist public relations crisis management firm, The Counsel House.
  • Cyber response helpline - Included with our cyber and data risks insurance, speak to specialist solicitors and information security experts for advice if you're the victim of a targeted cyber-attack.

*Price based on a management consultant requiring £1 million of public liability insurance.

No matter how meticulous you are in your business practices, sometimes things don’t go to plan. If a client suffers a financial loss, as a result of recommendations you provided, you could be held accountable and required to pay out legal fees and compensation. That’s why insurance for consultants should be a key consideration , protecting you against the potential risks you might face in the consultancy industry. And with Markel Direct, you build your own policy, so you only pay for the types and level of consultant insurance coverage you need.

Do I need insurance to be a consultant in the UK?

In the UK it’s not a legal requirement for consultants to have insurance, however it’s worth considering for a peace of mind, as it can act as a safety net. A client can bring a claim against you for anything from making a mistake in a report to a data leak to an accident on your premises. And if they make a claim against you and you don’t have insurance for consultants, it could put a financial strain on your business.

In addition, many large businesses will only work with consultants who are covered by professional indemnity and public liability insurance. This ensures that if something goes wrong and they make a successful claim, your insurance company will pay out compensation.

Do consultants need professional indemnity insurance?

Professional indemnity insurance should be a key consideration and element in your policy. It covers the cost of defending your business against allegations of professional negligence and any compensation subsequently awarded against you. So, if you give your client incorrect advice or make a mistake in a business plan, and the client suffers financial loss, you won’t have to pay legal fees and any damages yourself. Professional liability insurance for consultants cover is available with limits ranging from £50,000 to £5m and can act as a safety net for all home consultants and advisors

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Some of the consulting professions we cover

Cover starting at £5 a month

What does consultant insurance cover?

  • Public and product liability insurance

    Public and product liability insurance covers the cost of defending your business (including damages awarded against you if unsuccessful) if someone is injured, or their property damaged, which arises from you going about your business or supplying products. This is an important cover for consultants that regularly deal with clients or members of the public. Limits range from £1m to £5m.

  • Employer's liability insurance

    Employer’s liability insurance is a legal requirement if your business has employees. It covers your business against claims for injury or illness suffered by employees arising from their employment. Cover for £10m.

  • Legal expenses insurance

    Legal expenses insurance covers the costs of defending you as a director or officer of your company against allegations of wrongful acts and any damages subsequently awarded against you. Cover is also provided for the legal costs and expenses of defending actions for disqualification as a director, investigations and extradition proceedings. Limits range from £100,000 to £5m.

  • Directors and officers insurance

    Directors and officers insurance covers the costs of defending you as a director or officer of your company against allegations of wrongful acts and any damages subsequently awarded against you. Cover is also provided in respect of the legal costs and expenses of defending actions for disqualification as a director, investigations and extradition proceedings. Limits range from £100,000 to £5m.

  • Office insurance

    Office insurance covers your office buildings, office contents and computer equipment against accidental damage (including theft) whilst on your business premises. You can also choose to add cover for business equipment (such as laptops and mobile phones) whilst off your premises and for loss of income and/or additional trading expenses following events such as damage to your property.

  • Occupational personal accident insurance

    Occupational personal accident insurance provides a weekly payment if you are unable to work due to temporary total disablement (subject to a 14-day deferment period) due to an accident at work, or when travelling to and from work. In the event of loss of limbs, sight, speech, hearing, permanent total disablement or death, a lump sum would be paid out. You should consider this cover if you would struggle to maintain an income following an accident that left you unable to work. Limits from £100/week to £500/week for temporary total disablement (£25k lump sum to £100k lump sum for permanent total disablement).

  • Cyber and data risks insurance

    Cyber and data risks insurance pays the costs of restoring data and equipment, informing clients, meeting ransom demands and loss of your net profit following a cyber attack. It also pays your legal defence costs and damages you are legally liable to pay to other parties. If you hold confidential information about your clients and their projects on computers and other internet connected devices, you should consider to this cover.

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Frequently asked questions

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Cover starting at £5 a month

Frequently asked questions

  • What insurance do consultants need?

    Consultants need a range of insurance covers to protect them in different scenarios. The type of consultancy business you run will determine which types of cover you need. For example, if you have employees, you’re legally required to have employer’s liability insurance, and if you have business premises, you may want to add office insurance.

    Read the ‘What does consultant insurance cover?’section above for an in-depth look at your options.

  • Do freelance consultants need insurance?

    Yes, freelancers need professional insurance for consultants. Not only will your policy protect you from the risks associated with working in the consultancy industry, but it can also help you to win contracts. Many large businesses will only work with freelance consultants who have professional indemnity and public liability insurance in place as it makes it easier for them to get compensation if something goes wrong.

  • I need professional indemnity insurance to secure a contract - do you provide proof of cover?

    Yes. If you purchase your policy with us, your documents are emailed to you instantly and include a dedicated 'Confirmation of Liability Insurance' document - detailing the cover you have with us - which you can present to agencies and clients as proof of consultant insurance cover.

  • What limit of cover should I choose?

    Many clients and industry bodies with regulatory requirements will require you to have a minimum level of cover for you to undertake a contract, so it's worth checking this before you arrange consultant insurance cover. If you're unsure, or it's the first time you have arranged cover, give some thought to a worst-case scenario and the likely costs involved in putting your mistake right. We offer a range of limits on insurance, so you're sure to find the right cover for your business.

  • Is my past work covered?

    We cover past work if you have held professional indemnity insurance uninterrupted prior to arranging your policy with us.

    If there was a period where you did not have professional indemnity insurance in force, we are unable to cover past work - for example, you have never arranged professional indemnity insurance before, you chose not to renew a previous policy, or you cancelled a previous policy at the end of a contract.

    If you require further clarification, don't hesitate to call us on 0333 242 9104.

  • What's the difference between professional indemnity and public liability

    Professional indemnity insurance covers against allegations of professional negligence - which means it would cover you if you were to make an error or mistake in a piece of work for a client.

    Public liability insurance for consultants covers against allegations of injury or illness caused to third parties by your negligence. This includes many of the trips and falls that are associated with personal injury claims. In addition, public liability insurance covers against damage to third party property - for example, if you were to damage a client-owned laptop or smartphone.

    As they insure against different scenarios, it's important you consider arranging both types of cover to ensure you are properly protected.

  • Why should I choose Markel’s insurance?

    Markel has over 25 years of experience insuring contractors, consultants and self-employed professionals. We insure over 200,000 micro businesses and are highly rated by our customers at Feefo.com.

    We are a division of Markel International, a Lloyd’s and London market insurer that wrote gross premium totals of £2.4bn in 2023

    To talk about your insurance requirements and better understand our cover, call us on 0800 640 6600 or get a quick quote online.

  • How are Markel Direct regulated?

    Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Find out more on the Financial Services Register.

Insure with Markel and access unique business services

As a specialist insurer of consultants and contractors, we've designed a range of business services (included as standard with certain covers) designed to make your life easier.

24 hour legal helpline 24 hour legal advice helpline

When you insure with Markel, you'll benefit from 24/7 telephone access to a qualified solicitor at no additional cost. Expert legal advice can be costly when you're working for yourself and it's difficult to know who to turn to for a trustworthy answer. Whether it's a question on health and safety, employment law, legal structures for your business or how to handle a difficult client, an experienced team of solicitors are on hand day and night to help you with any business-related legal queries. Included as standard with all policies.

Legal hub access Markel Business Hub access

In addition to our 24 hour legal helpline, you'll have access to the Markel Business Hub - an award winning online resource of legal and business guides, templates and content written and created by our team of expert solicitors. Instantly download ready-made contracts, policies, procedures and guidance you can use for your business - without paying any expensive legal fees. Included as standard with all policies.

Fee dispute service

Customers don't always pay on time and chasing fees or invoices costs time and money. Mindful of the impact this has on your business, we offer our policyholders access to a unique fee dispute helpline operated by one of the UK's leading law firms, who will provide specialist legal guidance and support on fee dispute issues. Included as standard with professional indemnity insurance.

Discounted IR35 contract reviews

Falling within IR35 legislation - which determines that an individual is avoiding tax by using a limited company to disguise employment - is a huge concern for contractors, consultants and freelancers of all descriptions, with the fees and penalties due to HMRC eye-wateringly high. Our policyholders receive an exclusive discount on IR35 contract reviews from Markel Tax (a Markel company), who have over 20 years experience advising individuals and businesses on their tax status. As part of the service, Markel Tax will review your contract, along with your working practices, to determine whether or not you are operating outside of IR35, and you'll receive a written report with suggested contract amendments where appropriate. Policyholders can access this service by calling 0345 223 2727 or emailing contractreviews@markel.com, quoting 'MKLD' and your policy number.

Public relations crisis management service

In today's 24 hour news culture, public relations disasters can occur at any time. Having to deal with the press whilst managing a difficult situation can be hugely stressful as well as being a potential minefield. When there is a risk to your business as a result of negative press attention, our specialist public relations crisis management firm, The Counsel House, will work with you to help manage allegations of fraud, injury caused to employees or the public, and official investigations into your company's affairs. Included as standard with professional indemnity insurance, directors and officers insurance, cyber and data risks insurance and legal representation and employment disputes insurance.

Cyber response helpline

If you're the victim of a targeted cyber attack, our cyber response helpline provides access to specialist solicitors and information security experts who will give expert legal and technical IT security guidance on the issues arising from cyber and data protection risks. Included as standard with cyber and data risks insurance.

Cover starting at £5 a month

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