Marketing consultants are often small- to medium-sized companies who provide expert advice and assistance to other businesses. As a marketing consultant, you may help with developing marketing objectives and plans, sales forecasting, new product introductions and pricing, and marketing strategy and implementation.
Whatever services you provide, you are responsible for handling the needs of more than one client at a time, meeting tight deadlines, making recommendations and carrying out plans based on your knowledge and expertise. To protect your livelihood, you also need to formulate some plans for yourself. A comprehensive business insurance plan is the best way to protect your business from the risks that it faces every single day.
Marketing consultants have to consider the impact that the following types of risks can have on their business:
Marketing consultants should work with an independent insurance agent to assess their exposures and determine the types of business insurance that they need.
A business owners policy (BOP) combines coverage for major property and liability insurance risks. It is ideal for small- to medium-sized businesses that need comprehensive, affordable coverage. A BOP contains three primary types of coverage:
You might also want to consider endorsements to your business owners policy or standalone policies that provide the following types of coverage:
Marketing consultants need professional liability insurance, or errors and omission insurance, to respond to claims of errors, omissions or oversights in the professional services you provide. This coverage protects you, your employees and your firm if you are sued for professional negligence.
You might think that a client will never sue you for professional negligence, but what if a campaign you devise creates backlash from the public and negatively impacts a client’s sales? What if you make a false claim about a product in an advertisement? What if you simply fail to deliver services as promised? All of these circumstances could result in a lawsuit for negligent professional services.
With professional liability insurance you are protected if you make a mistake, and let’s face it, nobody’s perfect. Even if a claim against you is unfounded, you still have to defend yourself if you are sued, and without insurance coverage, your personal assets could be at risk.
A professional liability policy pays for your legal defense including attorney fees, court costs and any settlements or judgments that you must pay.
As a marketing consultant, you know how important it is to have good advisers in your corner. In order to find great quotes on marketing consultant insurance, talk to a Trusted Choice® agent. A local independent insurance agent can work with multiple highly rated insurance companies in order to find the best combination of coverage and price for your small business. Your independent agent will get to know you and your business and will remain your trusted adviser for the long term. Contact an agent today.