Insuring your life coaching business
As a life coach, your clients come to you for your specialist knowledge. But no matter how diligent you are, mistakes can happen and there’s always a chance someone could be dissatisfied with your advice. You need to know you’re covered if they take legal action against you or one of your employees. It’s also important to think about client safety and the security of the data they trust you with. Hiscox can tailor you an insurance package that covers legal liability claims as well as accidents, injuries and data breaches.
Why life coaches need business insurance
Unhappy clients
From career advice to CBT and coping techniques, your clients make decisions based on your professional advice. It’s a big responsibility but it’s also subjective – if someone fails an exam it might be because you missed part of the syllabus, but they might just as easily decide your technique is to blame, even if you met all your responsibilities. If this happens, Hiscox professional indemnity insurance for life coaches has got you covered.
Illness and injury
Advice leads to action and if someone blames your guidance for the outcome of events that follow, losing their job, making an expensive and poor decisions or dealing with chronic stress, our insurance policies will protect you against legal liability claims. You’re covered for claims of malpractice too, in case a client feels you’ve acted unprofessionally in your role as their life coach.
Data breaches
No business is immune to the threat of cyber crime, especially if it’s dealing with sensitive and confidential data. If a criminal hacks into your online system and threatens to release information about your clients, you need to be prepared. Our cyber and data insurance will cover the cost of dealing with the attack and our expert advice will see you through it.
If you’re not sure what you need, tell us a little more about your life coaching business. We’ll help you to build your quote and explore any other insurance needs.
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Key types of insurance for life coaches
Professional treatment liability insurance
Professional treatment liability insurance protects you if someone claims you gave them bad advice that led to them falling ill or being injured. You’re in business to provide the best guidance you can, but you can’t guarantee how a client will interpret it. It also covers claims of negligence where someone says a mistake in your work led to them suffering financially. If you or an employee gets it wrong, we’ll be there to cover the cost.
Cyber and data insurance
As a life coach you’re likely to store and have access to confidential and personal information about your clients, as well as data about your own business. Cyber and data insurance is there to help you if that data is accidentally shared, or your business suffers a cyber attack. We’ll cover the costs and procedures involved with getting you back to business and our cyber experts will advise you on how to be better protected against it.
Public liability insurance
It’s easy to think of injuries to clients or the public as being directly related to your work, but simple accidents can happen too, so public liability insurance protects you if someone injures themselves or their property is damaged because of your business. For example, if you accidentally break a valuable ornament in a client’s home, or if they cause themselves an injury in yours, it covers the legal and compensation costs of dealing with a claim.
These are just some of the types of business insurance for life coaches that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.
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