Insurance for Project Managers
Often a contractual requirement to win a project
Covers you even after the project is finished
Covers claims a miscommunication cost a client money
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What does project management insurance cover?
Project management insurance helps protect freelance, construction, functional, and other project managers from the cost of common risks related to coordinating project teams, timelines, and finances, such as:
- Negligence allegations
- Breach of duty
- Failure to deliver agreed services
- Third-party property damage claims
BizInsure offers coverage options suited to project managers. Compare quotes online in minutes and get instant coverage for your project management business.
Why do project managers need insurance?
Project managers may consider insurance to help cover the cost of lawsuits and compensation that arise from their work.
Even the most experienced project managers are exposed to risk every day. Even if you perform your role well, an allegation of negligence could result in a costly lawsuit and defense costs. This could cause extensive financial damage, enough to potentially put you out of business. Business insurance helps project managers protect themselves, their finances, and professional reputation from everyday risks and claims.
Project managers often need the following coverage features:
- Technology risk coverage for:
- electronic transfer of data
- copyright infringement
- web-hosting functions
- privacy liability
- ADA/FHA/OSHA regulatory actions reimbursement extension
- Defendants’ reimbursement extension
- Disciplinary proceedings reimbursement extension
- Reputation management reimbursement extension
- Broad definition of insured – includes insured’s participation in joint ventures
- Automatic 60-day coverage for acquired entities
- Blanket waiver of subrogation provision for clients of the insured as required by contract
- Punitive damages extension – where insurable by law
- Mediation deductible credit
What types of insurance do project managers need?
BizInsure offers coverage designed for project managers, helping protect against negligence and third-party claims that may arise from missed milestones, or oversight failures.
General Liability insurance
General Liability Insurance covers your business if a third-party is injured, or their property is damaged, a of your business activities or services. It covers legal costs compensation costs. We offer coverage up to $1 million per occurrence and $3 million in the aggregate.
Professional Liability insurance
Professional Liability insurance, also known as Errors & Omissions insurance protects you against claims of negligence, misrepresentation or mistake, resulting in financial loss to a third party. We offer coverage up to $1 million per occurrence and $3 million in the aggregate.
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How much does Project Management insurance cost?
General Liability insurance for project management starts at $28.86 per month, and Professional Liability costs $41.26 per month.
Factors influencing cost
- Risks of the industry 
- Coverage level amount
- Annual turnover
- Number of employees
- Claims history
The pricing information on this page is general in nature and provided for illustrative purposes only. It does not take into account your specific circumstances, business operations, or risk profile. Actual premiums vary based on your profession, location, claims history, and other factors.
Get flexible coverage to match your needs
We offer customizable coverage levels to suit your unique business risks.
Factors influencing cost
- Risks of the industry 
- Coverage level amount
- Annual turnover
- Number of employees
- Claims history
The pricing information on this page is general in nature and provided for illustrative purposes only. It does not take into account your specific circumstances, business operations, or risk profile. Actual premiums vary based on your profession, location, claims history, and other factors.
Get flexible coverage to match your needs
We offer customizable coverage levels to suit your unique business risks.
Unsure how much to choose? Think about:
- Statutory professional requirements
- Coverage required by contracts
- Number of employees being covered
- Your contract value
- Worst case scenario claim size
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