Business Insurance for Executive Coaches & Career Coaches

As an executive coach or career coach, you are in the business of giving advice. It's your job to help businesses take their company to the next level or help people reach their career goals.

Because people are making important decisions based on what you tell them, you face lawsuit risks if some of your advice doesn't pan out. Fortunately, career coach and executive coach insurance can help you address these risks. Let's look at a few key policies.

General Liability Insurance

General Liability Insurance can help out when clients, visitors, or other non-employees claim your career-coaching business…

  • Caused or failed to prevent a physical injury.
  • Damaged their property.
  • Harmed their reputation through libel or slander.

Practically speaking, this means General Liability Insurance can pay for common lawsuits that could affect any business. For example, if a deliveryman slips on your stairs on an icy day, your business could be liable for their injuries. If you're sued over an injury that happens on your property, General Liability Insurance can help pay for your…

  • Attorney fees.
  • Court costs.
  • Settlements or judgments.

In short, General Liability offers a base layer of liability protection that allows you to interact with the public with peace of mind.

Professional Liability Insurance

Executive coaches have the hard task of teaching people how to be business leaders. Expectations are high, and that means clients may assess your coaching with extra scrutiny. Plus, business owners make decisions based on your advice and training. That could have significant financial ramifications for their company. If they aren't satisfied, they may sue you to recoup their losses.

When that happens, Professional Liability Insurance (also known as Errors & Omissions Insurance) can help pay for your legal expenses. E&O Insurance can address lawsuits that claim your business…

  • Didn't deliver the services it agreed to.
  • Made mistakes or oversights.
  • Gave unsatisfactory business coaching.

Given the sometimes subjective nature of their work, most executive coaches and other business coaches choose to carry Professional Liability Insurance.

Commercial Auto Insurance

As a career coach or executive coach, you frequently travel from one client to the next. However, any time you get behind the wheel, you run the risk of getting into an accident. That's why you should consider purchasing a Commercial Auto Insurance policy – even if you drive your personal vehicle for work.

Most personal auto insurance policies don't cover work-related accidents, but a Commercial Auto policy can. If the vehicle you drive for work is owned by the business, you will likely need a Commercial Auto policy as well.

For example, if you are on your way to meet with a client and accidentally reverse into a parked car in your office parking lot, your Commercial Auto Insurance may cover the other car's repair costs. If someone is injured during the accident and they sue, it can also cover your coaching business's legal expenses.