More and more clients today are requiring that management consultants carry liability insurance coverage, whether it’s a small consulting firm or an independent freelancer. This may seem like an unnecessary pain, but liability insurance often ends up saving you and your business, a lot of money in lawsuits and legal fees.

Most management consultants are either freelance or part of a small company. Uninsured small businesses, oftentimes, do not have enough resources to handle a large-scale lawsuit and, as a result, the business often goes under. Liability insurance protects you from having to pay all of those expenses out of pocket.

Management consultant insurance is typically comprised of general liability insurance, professional liability insurance, and worker’s compensation insurance. This combination effectively covers any injuries that befall you or your employees while on the job, any damage to property, and any loss of money to the client as a result of your mistake.

Management consultant insurance coverage packages cover several situations.