Insurance for Life Coaches
Life coach insurance provides security
for life coaches and their clients, against the possibility that things
will go wrong. This is called "personal liability insurance".
These insurance policies are designed specifically for life
coaches to can provide indemnity (financial cover) for legal
defences, compensation and the other expenses incurred in
the unlikely event that things go wrong.
Of course, all sensible steps should
be taken out avoid this nightmare scenario, and so the chances of
a good life coach claiming on their insurance policy are tiny. They'll
do a great job for all their clients, they'll accept only those
clients they are confident they can help, and they'll use a written
contract to explain the nature of the service and specifically to
set realistic limits on the coach's responsibilities.
Because insurance claims against life coaches are
rare, insurance premiums tend to be relatively low, and annual cover
can often be had for less than £100 and from big-name insurance
companies like Legal and General, Sun Life etc.
Life Coach Insurance
Since, as a life coach, you're also probably a small
business owner, you may care to insure yourself and your business for
other reasons, including protecting the assets of the business against
theft or damage by fire, and if you have large financial commitments associated
with your life coaching business, then you may want to insure against
problems with those. Finally, you may want to obtain insurance against
ill health or other eventualities which render you unable to work as a
life coach and service these commitments.
Many insurance companies offer policies which combine
all of these ingredients. In all cases, inspect the policy carefully to
make sure the insurance cover meets your needs. Remember - personal
indemnity cover is not currently a legal requirement in the UK, so this
is not about ticking a box to comply with the law - this insruance policy
is to put your mind - and the minds of your clients - at rest.
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