A coil component includes: a body having one surface and the other surface opposing each other and a plurality of walls connecting the one surface and the other surface to each other; a coil portion disposed within the body; first and second external electrodes disposed on the one surface of the body while being spaced apart from each other and connected to the coil portion; a first insulating layer disposed on the other surface of the body and extending to at least a portion of each of the plurality of walls of the body; and a second insulating layer disposed on the one surface of the body.