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Being a life coach typically involves helping people make big life choices. And while you’re busy guiding customers, small business insurance can be in place to protect you.
At Simply Business, we can help you find a life coach insurance policy that’s as unique as your business. This coverage can help protect you from common risks so that you can continue delivering great work for your clients.
Life coaches are susceptible to claims or lawsuits when clients feel that the guidance they received was negligent or caused negative results. Also, if clients visit your office, your business is at risk of accidents that could result in bodily injury. Without insurance coverage, you would be paying out-of-pocket for medical bills as well as any claims or lawsuits filed against you or your business.Get Your Quote
If you’re working with a client at their home and you accidentally bump into a side table and break an expensive vase or other objects that cause property damage, general liability insurance would help cover the repair costs or for replacement. Or if you were to fall and hurt your back, general liability insurance would cover some of the medical costs.
General liability insurance — also known as commercial general liability (CGL) insurance — covers costs associated with third-party accidents, property damage, and bodily injury.
General liability usually covers:
General liability insurance usually does not cover:
Learn more about General Liability Insurance.
You have a new client who is negotiating a divorce settlement with her soon-to-be ex-husband. Your role is to help set goals and get her through the divorce. While doing this, the client claims your aggressive attitude caused her to make poor choices that resulted in a major financial loss. Professional Liability insurance would cover some costs you might be obligated to pay for negligence, including claims and lawsuits.
Professional liability insurance usually covers:
Professional liability insurance usually does not cover:
Learn more about Professional Liability Insurance.
Perhaps you’re ready to hire more life coaches to work for you. One of the first things to do is to look into workers compensation insurance (in most states, it is required). Workers compensation insurance — also known as employers liability insurance — is important coverage to have if an employee gets sick or injured while working for you (by covering medical costs and lost wages).
While there’s no single answer for how much insurance costs for life coaches, you can get an estimate for what you may pay based on:
Want to find out how much your life coaching business insurance may cost?
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