Some of the products on this page come from partners who may compensate us when you click on their links or take specific actions. This helps us keep our content free. That said, our opinions are our own and based on independent analysis.
As a life coach, you accompany your clients on the journey towards realizing their victories and transforming their challenges. Still, this pursuit can serve you a handful of punches.
That’s where business insurance for life coaches comes in. This specialty insurance product is meant to help life coaches manage the professional challenges they face.
In this article, we’ll cover the various types of life coaching and insurance policies that you must consider, their cost, and some of the best providers offering life coach insurance coverage for your business.
Life Coach Liability Insurance
Even in a low-risk field, you are still held responsible for what you do and for what happens as a result of your business.
With general liability coverage, your practice is covered if a client claims they were injured while on your premises. Further, life coach liability insurance will be sufficient if you were to damage a client’s property during an in-house consultation.
This kind of business insurance for life coaches caters to all legal fees arising from all third-party claims for bodily injury or property damage. Real-life situations where the general liability insurance steps in are when:
- A client claims you spilled a soft drink or coffee on their PC while at a consultation
- A client slips and falls while on the premises of your business
- A faulty electric wire within your establishment causes a fire that damages your neighbors’ property
A basic general liability policy for life coaches and career coaches covers medical expenses and provides reimbursement for losses. Note that this inclusion in personal coaching insurance will also cover copyright infringement, libel, or slander claims.
Limits Of General Liability Insurance for Life Coaches
| Minimum Limit | |
| Third-party bodily injury and property damage coverage | $300,000-$2 million |
| Products and completed operations | $2 million |
| Advertising and personal injury coverage | $1 million |
| Rented premises liability coverage | $250,0000 |
Business Owner’s Policy for Life Coaches
If you are working with a tight budget, consider bundling your property coverage with general liability coverage. The new cover is referred to as Business Owners Policy (BOP) and is the most cost-effective way to get both these policies and business interruption insurance.
Limits Of Business Owner’s Policy for Life Coaches
| Minimum Limit | |
| Per bodily injury and property damage coverage | $1 million per occurrence
$2 million aggregate |
| Products and completed operations | $2 million |
| Advertising and personal injury coverage | $1 million |
| Rented premises liability coverage | $50,000 |
| Medical payments | $5,000 |
| Business personal property | $10,000 |
Professional Indemnity for Life Coaches
As a life coach, you are expected to maintain a level of professional standards. Unfortunately, there will be situations where you’ll be sued for negligently performing your duties, even when it was an innocent mistake.
If you have professional liability insurance for life coaches, you are more aptly able to respond to them.
Also called malpractice insurance for life coaches, this policy covers the legal expenses, settlements, and other costs when a claim is filed for negligence, inaccurate advice, violation of good faith, violation of fair dealing, and other issues with your work.
Limits Of Professional Liability Insurance for Life Coaches
| Amount | |
| Per occurrence limit | $250,000-$2 million |
| Aggregate limit | $250,000-$2 million |
| Coverage limit for punitive damages | $250,000 |
Compare Life Coach Insurance Quotes Online
Get all the best quotes from leading providers in a click of a button!
Workers Compensation Insurance for Life Coaches
Most states require businesses to purchase a policy that’ll cover medical costs and lost wages. That way you need workers’ compensation insurance. This type of life coaching insurance will cover these costs if an employee sustains a work-related injury or disease:
- Medical treatment
- Hospitalization
- Medication
- Rehabilitation
- Lost wages
- Death benefits
Cyber Liability Insurance for Life Coaches
Further, suppose a threat actor hacks into your computer and accesses private and confidential information about clients. This cyber event could take a significant toll on your practice, seeing as you have to cater to the costs of managing the threat and informing the client.
If you were to purchase cyber liability insurance, you are assured that the costs that arise from said cyber attacks and data breaches are covered.
Life Coach Insurance Cost
General liability insurance for life coaches cost $40 per month or $480 per year. This will have a $1 million per occurrence limit with a $2 million aggregate.
Cost Of Other Insurance for Life Coaches
You will pay $48.16 per month or $577.92 per year for a $1 million professional liability insurance for coaches. Commercial property insurance will cost $45 per month or $540 a year for a $110,000 building coverage and $15,000 contents coverage.
Business owner’s policy will cost $41.03 per month or $492.36 per year. Inclusions are $1 million general liability insurance and $10,000 commercial property insurance.
Finally, you will pay $128 per month or $1,536 per year for a $1 million cyber liability insurance.
Rank and Review Insurance Companies
Help others make better decisions
Show more
Compare Life Coach Insurance Quotes Online
Get all the best quotes from leading providers in a click of a button!
Best Life Coach Insurance Companies
Here’s a breakdown of the best liability insurance for life coaches offered by leading companies. Read to know their pros, cons, and rates for a $1 million general liability insurance.
NEXT
NEXT insures life coaches through its insurance program for adult education businesses. Policies you can avail are general liability insurance, workers compensation insurance, commercial property insurance, and professional liability insurance. You can upgrade to add terrorism coverage in the terms of general liability insurance.
Average cost: $20.67 per month
Our rating: 10/10
Pros
- Best overall
- Get an online proof of insurance and send as a text message, email, or social media post
- Fastest general liability insurance
- Great customer service and reputation
- Outstanding value for money
- Bundle two or more life coach insurance policies and get a 10% discount
Cons
- Couldn’t find any
CoverWallet
CoverWallet’s life coach insurance offers general liability, commercial property, workers compensation, and a business owner’s policy.
This company’s general liability insurance for life coaches has a $1 million per occurrence limit with a $2 million aggregate. The policy also has a $5,000 medical payments coverage, $2 million products and completed operations coverage, and $250,000 rented premises liability coverage.
Average cost: $25.41 per month
Our rating: 10/10
Pros
- Compare life coach insurance quotes over the phone
- Get covered online
- Call anytime and cancel your policy
- Competitive rates
Cons
- Not an insurance company but an insurance broker
Tivly®
Tivly® doesn’t state that it covers life coaches, it has consultant insurance. Therefore, the company might provide coverage for your business since both are closely related fields.
Policies you can avail from this company are general liability, workers’ compensation, commercial property, professional liability insurance, and more.
Average cost: $28 per month
Our rating: 10/10
Pros
- Compare life coach insurance quotes over the phone
- Responsive customer service
- Call and get covered online
- Can refer you to partners if it can’t provide coverage
Cons
- You need to call to get a quote
Hiscox
This top-rated provider has an extensive understanding of the niche field, that is life coaching. This means that if you were to work with this carrier, you would be able to tailor your coverage for the specific risks your business faces.
Average cost: $32 per month
Our rating: 9/10
Pros
- Hiscox has an easy online insurance application
- Prospective policyholders can purchase and manage their policies online
- Flexible coverage with room to make policy changes
- Policyholders can tailor their insurance for a custom insurance policy for your business
Cons
- BOP is unavailable in most states
Thimble
Thimble has a career coach insurance program, which life coaches can also avail. Policies included are general liability, workers compensation, and commercial property insurance.
Thimble offers a pay-when-you-play structure which means that you only pay for your life coach insurance when in practice. This on-demand model makes their policy affordable, especially for life coaches who only practice part-time.
Average cost: $38 per month
Our rating: 8/10
Pros
- Policyholders can cancel their policy and get a refund at any time
- An unlimited number additional insureds can be added to the policy
- ACORD 25 certificates of insurance
- Quick to issue life coach insurance quotes
Cons
- Customer service is not available over the phone
