As a consultant, you believe in helping people accomplish their goals. No matter what type of consulting you do, whether it’s life coaching or assisting new startups to develop and scale their company, there’s always the chance your advice won't bring the client their desired results. Though most dissatisfied clients would merely cut ties in this situation, others may try to blame you directly and seek damages. To protect yourself and your business, you’ll need consultant liability insurance.
What Is Consultant Liability Insurance?
Consultant liability coverage is professional business insurance designed to protect your company and employees from liability suits. Should a client claim you and your team were negligent or directly responsible for some perceived damage to their company, your coverage would help cover any legal fees you may incur or settlements you may reach. Additionally, if a member of your team caused physical damage to the client’s property, the insurance policy would help pay for repairs.
Why Liability Insurance Is Important
Even when you always do your best, you never know when a client will be dissatisfied with your services. Also, if the client does not implement your advice to your instruction and, as a result, underperforms, they may still blame your company for the failure. Unfortunately, this often results in lawsuits, liability claims, and other expenditures to defend your organization’s good name. Without liability insurance, all of those expenses are yours to bear. However, with the right policy, your business insurance provider will help cover the cost so you can continue operations without dipping into your savings.
Jan Parisi Agency Inc understands the unique challenges consultants face. As a leading Nationwide Insurance agent serving Spencerport, NY, Jan Parisi will help you find the right liability insurance to protect your company and your team. Call (585) 349-3592 to discuss your needs today. Like them on Facebook to stay up-to-date on the latest news.