A coil component includes a body having one surface and the other surface, opposing each other in one direction, and one end surface connecting the one surface and the other surface to each other, a support substrate embedded in the body, a coil portion disposed on the support substrate and including a lead-out pattern exposed from the one end surface, a first insulating layer disposed on the one end surface and having one region and the other regions spaced apart from each other in the other direction crossing the one direction, an external electrode having a connection portion, disposed between the one region and the other region to be connected to the lead-out pattern, and an extension portion extending from the connection portion to the one surface, and a second insulating layer disposed on the one end surface to cover the first insulating layer and the connection portion.