As a career coach, you are in the business of giving what could be transformative career advice. However, this might not always be the case. More often than not, you will be dealing with clients with unrealistic expectations. When these aren't met, you will face lawsuits and mounting legal fees.
That's why you've got to protect yourself, just like sports coaches and health coaches. Given just how litigious the masses have become, you will need to purchase career coach insurance to stay afloat. This caters to all the costs arising from claims against your career advice or business. If your advice doesn't pan out or there's an aggrieved party in the course of you carrying out your duties as a career coach, the policy covers the consequences.
Career coach insurance ensures you have peace of mind so that you can offer your clients the best services.
When dealing with people, there's bound to be an aggrieved party. You are constantly exposed to the risk of third-party injury or property damage. Unfortunately, these are inevitable, even if you were to take extra precautions. The urgency therein is that these will often lead to lawsuits that can be rather expensive and, in worst-case scenarios, lead to business closure.
That's why you ought to get general liability insurance for career coaches. Regular interaction with your clients increases the risk of customer injury, client property damage, and advertising injury. This policy steps in to protect your career coaching business from the high costs of lawsuits. Besides, career coach liability insurance comes in handy when applying for leases and contracts.
General liability insurance for career coaches is available as a short-term policy. A short-term general liability insurance grants protection for hours, days, or weeks, depending on your needs. This has a $1 million-$2 million per occurrence limit with a $2 million aggregate.
Similar to the usual general liability policy, short-term general liability insurance comes with a certificate of insurance. You can also name additional insureds in its language. However, the policy might not come with floaters or riders.
So where do you get a short-term general liability policy? Thimble is a popular option. You can also buy one from Hiscox but note that it’s underwritten by Thimble. The last choice is The Hartford.
As a career coach, you are in the professional service industry. While the field remains largely unregulated, this doesn't mean that questions will not abound over how you dispense your duties.
When negligence or bad advice claims arise, you want to be sufficiently covered with professional liability insurance. This ensures you do not end up paying out of pocket for the expenses accrued due to claims against your performance.
This policy, also sold as error & omissions coverage, helps your career coaching business gain protection against:
Violation of good faith
Violation of fair dealing
Breach of confidentiality
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You will often find that most providers offer commercial property coverage as a standalone policy. You use commercial property insurance as a countermeasure in case something happens to a condo or building you’re using as an office. You can even use this to insure your private office at home.
Commercial property insurance will reimburse your losses if the office gets damaged or destroyed because of:
Commercial property insurance can also help if important documents, credit cards, computers, and other valuables in the office get damaged or lost due to fire, theft, vandalism, and other exposures we mentioned above.
Depending on where you purchased it, commercial property insurance might come with an equipment breakdown floater. Also found in general liability insurance, an equipment breakdown floater covers replacements or repairs if laptops, cameras, and other devices you use for work get damaged or lost because of:
To save money and increase security, it would be best if you considered bundling the general liability coverage with commercial property coverage under a business owner's policy (BOP). For you to qualify for a BOP, you'll need to:
Have fewer than 100 employees
Make less than $1 million annually
Have a small workplace
The BOP will cover:
Damage to business equipment and other property
Third-party property damage and injuries
Advertising injuries, including copyright infringement and libel
If you have employees, your business is not immune to injury. A career coach under your brand could trip in the office and break their wrist. If the employee is injured while on the job, workers' compensation helps you cover the resulting costs without using personal funds or business funds. Common costs covered are:
Surgery, first aid treatment, and other medical expenses
Rehabilitation and retraining
Lost wages due to inability to work
Funeral expenses and allowance to dependents in case of death
Suppose the aggrieved employee was to claim you failed to provide a safe work environment and ultimately sue you. To prevent paying out of pocket for the arising costs, you want to purchase employer's liability insurance. This insurance policy, which is usually included in workers' compensation insurance, covers:
It is important to note that most state laws mandate that you get a workers' compensation policy as a professional services business.
If you run your career coaching business in North Dakota, Ohio, Washington, or Wyoming, you will be required to purchase your worker's compensation policy through a monopolistic state fund.
This means that your workers' compensation policy won't include the employer's liability insurance. Evidently, you will likely end up with a coverage gap that requires additional investment in a standalone employer's liability policy.
Employment practices liability insurance is another policy that grants protection against claims filed by employees. But note that this doesn’t cover negligence resulting in bodily injuries or property damage. Instead, you use this to cover claims employees file because of:
Failure to promote
Other violations of employee rights
You are a prime target for cyberattacks looking to acquire your client's credit card information and other personal data. A simple phishing attack could see your IT infrastructure and the cyber security of clients compromised.
The impact would be far-reaching, which calls for prompt investment in a cyber liability insurance policy for career coaches. This policy covers:
In today's IT ecosystem, you are going to need both first-party and third-party cyber liability. The first-party cyber liability policy covers:
Business interruption and lost revenues
Notifying clients of the cybersecurity breach
Cost of containing the breach
On the other hand, third-party cyber liability insurance caters to:
Filing costs and other court fees
Legal obligations following the ruling
Cost of remediation
You or your employees might consider yourselves the most competent drivers. Still, you are subject to the countless perils on the road every day. It is in light of this that you want to purchase commercial auto insurance for all your commercial vehicles.
Commercial auto insurance helps compensate for any arising costs as a result of litigation, property damage, and treatment fees from an auto accident. Further, if your business vehicle is vandalized, stolen, or damaged, the policy meets the cost of repair or replacement.
Overall, as a professional service business with a commercial vehicle, you are on the safer side with career coach auto insurance. Note that state regulations call the shots when it comes to exactly how much coverage you will need. For example, if you’re in New York, your commercial auto insurance must provide $25,000 coverage for bodily injuries, $50,000 per accident, and $10,000 for property damage.
You will pay $38 per month or $456 per year for a $1 million general liability insurance. This career coach insurance cost estimate assumes that you have 5 employees and make $500,000-$750,000 per year.
You will pay $45 per month or $540 per year for commercial property insurance. An insider tip would be to go with the BOP instead of a standalone general liability policy and commercial property insurance.
BOP for career coaches will cost $42 per month or $504 per year. To secure a discount, discuss with your insurer of choice whether you can bundle other insurance policies to your BOP.
Professional liability insurance for career coaches will cost $55 per month or $660 per year. This will have a $1 million per occurrence limit and a $1 million aggregate limit.
Commercial auto insurance costs $57 per month or $684 per year. For workers' compensation insurance, premiums will be $61.83 per month or $741.96 per year. As highlighted, it is best that you find out if you are in a monopolistic state, as this would then mean additional investment into a standalone employer's liability policy.
To provide further reference of how much career coach insurance policies cost, here's a table detailing the premiums of the best carriers:
|Cost per Month||Cost per Year||Best for|
|NEXT||$20.67||$248.04||Best overall; Fastest general liability insurance for career coaches|
|CoverWallet||$25.83||$309.96||Career coach insurance online quotes comparison|
|Tivly||$27||$324||Comparing career coach insurance quotes over the phone|
|Hiscox||$32.54||$390.48||Discounts on offer|
|Thimble||$35||$420||Quick, flexible coverage|
Get all the best quotes from leading providers in a click of a button!
As you start to ponder over the future of your business, it's likely that you are curious about the best career coach insurance companies available. While there are countless options, here are some that you must consider. Read to know their pros, cons, and rate for a $1 million general liability insurance.
Three coverage options-basic, deluxe, and premiere
Get an online proof of insurance and send as a text message, email, or social media post
Fastest general liability insurance for career coaches
Great customer service and reputation
Issues an online proof of insurance instantly
Outstanding value for money
Bundle two or more insurance policies and get a 10% discount
Couldn’t find any
NEXT career coach insurance is designed with variety in mind. Choose between three coverage options-basic, premiere, and deluxe.
The basic coverage option is the cheapest yet not comprehensive. You only get general liability and professional liability insurance. General liability has a $1 million per occurrence limit and a $2 million aggregate. On the other hand, professional liability insurance has a $1 million per occurrence and aggregate limit.
We recommend you spend more on premiums. Go for the deluxe coverage as this is the most comprehensive option. It grants general liability, professional liability, and workers compensation insurance with a $1 million employer’s liability coverage and waiver of subrogation. Moreover, you can choose to further get commercial property insurance.
Best for: Best overall; Fastest general liability insurance for career coaches
Average cost: $20.67 per month
Our rating: 10/10
Cancel a policy anytime
General liability insurance automatically comes with hired/non-owned auto liability coverage
Compare career coach insurance quotes online
Not an insurance company but an insurance broker
CoverWallet doesn’t have a specialized career coach insurance program. However, it provides comprehensive protection through its custom-made insurance plans for businesses providing professional services. Policies you can get are general liability, cyber liability, workers' compensation, professional liability, and business owner’s policy.
Your general liability insurance from this company provides $1 million-$2 million coverage for each claim. A separate amount of coverage is provided to medical payments, products and completed operations, advertising injury, and hired/borrowed auto liability.
CoverWallet allows you to bundle other policies to its general liability insurance. Just choose which policies you need and add them to your quote.
To get covered, use CoverWallet’s online quotes comparison platform. Choose one or more policies, provide details, and the cost of premiums, as well as policy details, will be provided.
Best for: Career coach insurance online quotes comparison
Average cost: $25.83 per month
Our rating: 10/10
Responsive customer service
A partner of many reputable insurance companies
Call and compare career coach insurance quotes over the phone
You need to call to get a quote
Tivly sells general liability, commercial property, workers' compensation, commercial auto, and other insurance for businesses. This company works with a wide variety of clients, so you need to talk with a representative. Call Tivly now to know if you can get covered and compare career coach insurance quotes over the phone.
Best for: Comparing career coach insurance quotes over the phone
Average cost: $27 per month
Our rating: 10/10
Easy online application
Coverage starts instantly after payment
Customizable policies curated for your needs
A range of coverage options is available
Telephone support for personalized problem resolution
BOP is not offered to career coaches in Alaska
If you are in the market for a career coach insurance provider with extensive experience, Hiscox is the insurer for you. Hiscox has over 100 years of experience offering specialty insurance products to, among others, career coaches.
Hiscox's career coach insurance offering includes general liability insurance, short-term liability insurance, and cyber liability insurance. Right from the start, however, policyholders are encouraged to customize their policies to best fit their business needs.
What makes Hiscox stands out is the number of discounts that policyholders can take advantage of. On average, Hiscox promises an official claims response time frame of 5-10 days. This can be shorter depending on the nature of the claim, the number of requirements, and other factors.
Best for: Discounts on offer
Average cost: $32.54 per month
Our rating: 8/10
Coverage starts instantly after payment
Flexible coverage periods, including hourly, daily, or monthly coverage
Policyholders can add as many additional insureds
Instant certificate of insurance
Policyholders can download their COI
Policyholders can terminate their career coach insurance policy
Easy policy management via the mobile app
You can’t reach customer service by calling
Thimble's career coach insurance package includes coverage for:
Third-party, non-employee bodily injury
Third-party property damage
Errors and omissions
The rate that Thimble charges you for this career coach insurance package is reliant on a couple of different variables. The latter all rotate around your business' level of risk. It considers the location where you offer your career coaching, the size of your business, and the coverage limit you've selected. As it pertains to the latter, Thimble's career coach insurance is offered with either a $1 million or $2 million limit.
Thimble has a leg over the competition due to just how able it is in offering prospective policyholders quick and efficient insurance policies. This often takes just a few hours and is flexible enough to serve clients in a wide array of situations.
Best for: Quick, flexible coverage
Average cost: $35 per month
Our rating: 9/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow