Professional Liability Insurance Insurance: Average Premiums & Pricing Factors
Quick Answer
How much does Professional Liability Insurance cost? Average premiums by business size, industry, and state — plus the key factors that drive your rate up or d…
Comprehensive FAQ, cost guide, and claims examples for professional liability insurance — E&O coverage for consultants and service providers.
What You Need to Know
Professional liability insurance (E&O) covers claims of negligence, errors, and omissions in professional services provided to clients.
Professional Liability Insurance Cost by Business Size
| Business Size | Annual Revenue | Typical Premium | Notes |
|---|---|---|---|
| Individual Consultant | Under $100K | $500–$2,000/yr | Basic E&O coverage. |
| Large Firm | $5M+ | $10,000–$50,000/yr | High-limit coverage for multiple professionals. |
What Determines Your Premium?
- Profession (High impact) — Medical professionals and architects pay more than consultants.
- Revenue (Medium impact) — Higher revenue means more clients and greater exposure.