How Much Is Business Insurance
for Network and Security Consultants?

How much does IT Insurance cost for network and security consultants? For a small business, policies typically cost anywhere between $500 to $3,000 in annual premiums depending on the policy and the size of your businesses. To get a more accurate idea about the cost of your coverage, we crunched the numbers on the thousands of other IT consultants we've helped insure.

The estimates below represent the median range of insurance premiums — the typical cost our customers pay for IT Insurance.

HOW MUCH IS
General Liability?

How Much Does General Liability Insurance Cost?

General Liability Insurance protects network and security small businesses from the cost of common third-party lawsuits (i.e., those brought by people outside of your business). Covered lawsuits include disputes over copyright infringement, physical injuries, damaged property, and reputational damage. Say a delivery driver falls down your stars while delivering a package to your office. If he sues, General Liability Insurance covers your legal expenses and damages you owe the deliveryman.

The typical network and security consultant pays $425 to $429 a year for their General Liability Insurance policy.

Median Premiums, Limits and Deductibles on General Liability Insurance for Network and Security Consultants
Name USD

Median policy premium:

$425 - $429

Median policy limit:

$2 million

Median policy deductible:

None

To see how the cost of General Liability Insurance for network and security consultants compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Business Owner's Policy?

How Much Does a Business Owner's Policy Cost?

A Business Owner's Policy or BOP is a two-policy insurance bundle (General Liability and Property Insurance) that many small-business owners purchase to cover their basic business liabilities.

BOPs cover general liability lawsuits (see above) while also insuring your business property against fire damage, theft, and vandalism.

The typical network security consultant pays $500 to $559 a year for their BOP coverage.

Median Premiums, Limits and Deductibles on Business Owner's Policies for Network and Security Consultants
Name USD

Median policy premium:

$500 - $569

Median policy limit:

$2 million

Median policy deductible:

$250

HOW MUCH IS
Commercial Auto?

How Much Does Commercial Auto Insurance Cost?

IT consultants who travel frequently for work can get Commercial Auto Insurance to cover the costs associated with an auto accident. Like personal auto coverage, this policy covers accident repair costs, legal expenses, and the costs of an accident caused by an uninsured driver.

To cover commercial vehicles, IT security professionals can typically get Auto Insurance for between $1,770 and $2,747 a year.

Median Premiums, Limits and Deductibles on Commercial Auto Insurance for Network and Security Consultants
Name USD

Median policy premium:

$1,770 - $2,747

Median policy limit:

Varies

Median policy deductible:

None (liability only)

HOW MUCH IS
Professional Liability?

How Much Does Professional Liability / Errors and Omissions Insurance Cost?

As a network consultant, you're responsible for securing client networks, a task which sometimes seems impossible in the age of the data breach. Fortunately, Professional Liability Insurance / Errors and Omissions Insurance covers the cost of a lawsuit when a security consultant is sued over a data breach, network problem, or other issue with their IT work.

Even if you don't make any mistakes, clients can file a lawsuit against your business if they're unsatisfied with your work. E&O Insurance covers your legal expenses, settlement costs, and lawyers' bills in a lawsuit.

Network and security consultants typically pay $579 to $1,185 for their Errors and Omissions Insurance with third-party cyber liability coverage.

Median Premiums, Limits and Deductibles on E&O Insurance for Network and Security Consultants
Name USD

Median policy premium:

$579 - $1,185

Median policy limit:

$1 million

Median policy deductible:

$2,500

To see how the cost of Errors and Omissions Insurance for network and security consultants compares with other industries, visit Insureon's Professional Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Fidelity Bond?

How Much Do Fidelity Bonds Cost?

If you install a network or manage IT security for a bank, investment firm, or other financial company, you'll probably have to have Fidelity Bond coverage. This insurance policy is most commonly required by businesses that work in the financial sector. If one of your employees attempts to steal money, commit fraud, or unlawfully access financial records, Fidelity Bond coverage pays for the losses suffered by your client.

If a client contract requires you to have a Fidelity Bond, you'll typically pay $618 to $1,321 in annual premiums.

Median Premiums, Limits and Deductibles on Fidelity Bonds for Network and Security Consultants
Name USD

Median policy premium:

$618 - $1,321

Median policy limit:

Varies

Median policy deductible:

$10,000

HOW MUCH IS
Workers' Comp?

How Much Does Workers' Compensation Insurance Cost?

Network admins and security consultants with employees usually need to have Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp). Often, it is required by state law. Workers' Comp covers employee medical costs and lost wages if they are injured at work. Many policies also include Employer's Liability Insurance, which covers your legal costs if you're sued over a Workers' Comp injury or illness.

Annual Workers' Comp premiums typically cost $440 to $998 for network and security consultants.

Median Premiums, Limits and Deductibles on Workers' Comp Insurance for Network and Security Consultants
Name USD

Median policy premium:

$440 - $998

Median policy limit:

$500,000

Median policy deductible:

None

To learn more about your state employment laws, see our guide to small business Worker's Comp requirements New browser window icon..

To see how the cost of Workers' Compensation Insurance for network and security consultants compares with other industries, visit Insureon's Workers' Compensation Insurance Cost Analysis New browser window icon..

Get Free Insurance Quotes

Free Insurance Quotes for Network Admins and Security Consultants

To receive a free, no-strings-attached insurance quote on your IT coverage, submit an online insurance application. Our insurance agents specializing in network and security liability will handle your application and email you a list of free cost estimates on IT insurance.

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