Business and life coaches: why do you need professional indemnity insurance tailored just for you?
For business and life coaches, getting the right insurance cover will mean peace of mind.
There is the potential for costly claims from clients if they disagree with the advice you gave them.
Business coaching clients could claim the advice adversely impacted on their business, lost them sales, cost them when it comes to their bottom line.
Life coaching clients could claim advice caused them distress or impacted their personal or working life.
Without the right cover, your business could end up becoming a minefield.
If your business is based on giving advice, you need to ensure your professional indemnity insurance is relevant to the field in which you work and the clients you have.
A one-size-fits-all approach could leave you with gaps in coverage, and that could prove costly in the long run.
Talk to a risk management team about potential threats to your business – from the threat of you becoming ill and being unable to work, to the loss of premises, vehicles, or data in a fire.
With the growing threat from cyber attacks, it’s also worth detailing your cyber security regime and looking at where it can be tightened up.
The risk management team will help you put a programme in place to minimise those risks and help you reduce your insurance premiums.
Anyone working with the public should also look at whether they need public liability insurance. This is especially relevant for coaches who run workshops and courses.
Do you need advice on the right insurance for your coaching business? Call our expert brokers on 02920 470375.
We’re here to help and advise. We ensure that your exact requirements are met and are not here just to sell you a policy that doesn’t suit you. If you would like to discuss your insurance requirements with a dedicated and passionate specialist just complete the form below and we’ll get back to you as fast as we can.